Attracting foreign direct investment into infrastructure: why is it so difficult?
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Washington, DC
World Bank
2000
|
| Series: | Foreign Investment Advisory Service: Occasional paper
12 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XX, 171 S. graph. Darst. |
| ISBN: | 0821346024 |
Staff View
MARC
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| 245 | 1 | 0 | |a Attracting foreign direct investment into infrastructure |b why is it so difficult? |c by Frank Sader |
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| 650 | 4 | |a Entwicklungsländer | |
| 650 | 4 | |a Infrastructure (Economics) |z Developing countries | |
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Record in the Search Index
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| adam_text | Contents
Abstract vii
Preface ix
Acknowledgment xi
Abbreviations and Acronyms xiii
Executive Summary xv
1. Introduction 1
2. Foreign Direct Investment—The Engine Behind
the Private Infrastructure Revolution 6
3. The Complex Nature of Greenfield Investments
in Infrastructure: Incentives and Risks 17
3.1 The Contractual Web of a BOT Type Project 19
3.2 Governments: Balancing Domestic Interests
and Multiple Objectives 23
3.3 Sponsors: Creating a Viable Project Structure 24
3.4 Commercial Lenders—The Market Test of Bankability 26
iii
iv / Contents
4. Risks Investors Face 28
4.1 Conflicting Opinions Within Government 32
4.2 Insufficient Coordination 33
4.3 Insufficient Expertise 37
4.4 Direct Negotiations versus Competitive Tenders 41
4.5 Unclear Tendering Rules 45
4.6 Political Interference 49
4.7 Unclear Market Entry Conditions 50
4.8 Lack of an Adequate Legal Framework 52
4.9 Difficulties During Operation 57
4.10 Social Concerns After the Fact 61
4.11 Political Commitment of Successor Governments 63
5. Handling the Risks 69
5.1 The Role of Government Support Arrangements 70
5.2 The Importance of Overall Sectoral Liberalization 79
6. Designing an Effective Policy Framework 88
6.1 The Usefulness of an Institutional Support
Structure 89
6.2 Designing an Overarching Legal Framework 102
6.3 Regulating Private Infrastructure:
Minimizing Risk and Abuse 122
6.4 The End Result: Expensive Potentials
or Investment Booms 128
7. The Impact of the Asian Crisis 132
8. Conclusion 145
Annex I. Methodology for Estimating FDI Flow 147
Annex II. Summary Data Tables 155
Notes 169
References 171
Contents / v
Figures
1. Number of Private Infrastructure Transactions
in Developing Countries 7
2. FDI Inflows to Developing Countries from
Infrastructure Projects 11
3. FDI in Infrastructure, by Sector 12
4. Different Strategies: Latin America and
East Asia Compared 13
5. Investor Origin, by Sector 15
6. Actual Versus Potential Private
Infrastructure Projects 18
7. Structure of a BOT Type Project 20
Tables
1. FDI Is Key in Private Infrastructure
in the Developing World 9
Boxes
1. What Is a BOT Type Project? 3
2. The Trouble with Traffic Forecasts:
The Dulles Greenway 29
3. Project Preparation Is an Expensive Business 30
4. Fighting State Monopolies: The Story of Econet 34
5. Conflicting Authorities: The Subic Bay
Container Terminal 36
6. How Not to Do It: Mexican Tollroads 38
7. Good Preparation Is Key: Airport Projects
in Eastern Europe 40
8. Dabhol: The Dangers of Direct Negotiation 42
9. Privatization, Russian Style 46
10. Privatizing Brazil s Telecommunications Sector 48
11. Zimbabwe s Hwange: Politics and Business 50
12. China s Telephones: The Power of State Monopolies 52
13. The Value of Old Promises: Poland s Cellular Licenses 54
14. The Costs of a Shaky Legal Framework: Turkey 55
15. BOTs in China: A Slow Road to Progress 58
16. The Question of Government Reliability:
Hungary s Electricity Privatization 60
vi / Contents
17. Full Scale Privatization: British Rail 62
18. Who Pays the Toll? Portugal s Vasco da Gama Bridge 64
19. The Risk of Politics: Venezuela s CANTV 65
20. Pakistan s IPPs: How Reliable Are Sovereign
Guarantees? 66
21. Trouble with Sub Sovereign Authorities:
Tucuman Water 68
22. Country and Project Risks 72
23. Types of Government Support Arrangements 76
24. Managing Contingent Liabilities 78
25. Excess Capacity Through Private Competition:
Argentina s Electricity Reform 82
26. Indian Electricity: The Lack of Sectoral Reform 84
27. Dealing with the Entire Network:
Argentinean Rail Concessions 86
28. The N 4 Tollroad: A First Success in Africa 90
29. Developing a Procurement Process:
Britain s Private Finance Initiative 96
30. The Power of International Arbitration:
Grenada Electricity 121
31. The Role of a Strong Regulator:
The Experiences of Argentina and Peru 123
32. Hungary s Energy Office:
Autonomy without Authority 124
33. How to Make a BOT Really Expensive:
The Example of an African Bridge 129
34. The Philippines: Averting a Crisis Through
Private Power 131
35. Thailand s BERTS Saga 134
36. Fallout from the Currency Crisis: Indonesian IPPs 136
37. The Importance of Government Support:
The Experience of Hungarian Tollroads 140
38. Multilateral Support for Private Infrastructure Projects 142
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| series2 | Foreign Investment Advisory Service: Occasional paper |
| spelling | Sader, Frank Verfasser aut Attracting foreign direct investment into infrastructure why is it so difficult? by Frank Sader Washington, DC World Bank 2000 XX, 171 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Foreign Investment Advisory Service: Occasional paper 12 Infrastructure (Économie politique) - Pays en voie de développement Investissements étrangers - Pays en voie de développement Entwicklungsländer Infrastructure (Economics) Developing countries Investments, Foreign Developing countries Auslandsinvestition (DE-588)4003772-1 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Auslandsinvestition (DE-588)4003772-1 s DE-604 Foreign Investment Advisory Service: Occasional paper 12 (DE-604)BV004833841 12 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009103105&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Sader, Frank Attracting foreign direct investment into infrastructure why is it so difficult? Foreign Investment Advisory Service: Occasional paper Infrastructure (Économie politique) - Pays en voie de développement Investissements étrangers - Pays en voie de développement Entwicklungsländer Infrastructure (Economics) Developing countries Investments, Foreign Developing countries Auslandsinvestition (DE-588)4003772-1 gnd |
| subject_GND | (DE-588)4003772-1 (DE-588)4014954-7 |
| title | Attracting foreign direct investment into infrastructure why is it so difficult? |
| title_auth | Attracting foreign direct investment into infrastructure why is it so difficult? |
| title_exact_search | Attracting foreign direct investment into infrastructure why is it so difficult? |
| title_full | Attracting foreign direct investment into infrastructure why is it so difficult? by Frank Sader |
| title_fullStr | Attracting foreign direct investment into infrastructure why is it so difficult? by Frank Sader |
| title_full_unstemmed | Attracting foreign direct investment into infrastructure why is it so difficult? by Frank Sader |
| title_short | Attracting foreign direct investment into infrastructure |
| title_sort | attracting foreign direct investment into infrastructure why is it so difficult |
| title_sub | why is it so difficult? |
| topic | Infrastructure (Économie politique) - Pays en voie de développement Investissements étrangers - Pays en voie de développement Entwicklungsländer Infrastructure (Economics) Developing countries Investments, Foreign Developing countries Auslandsinvestition (DE-588)4003772-1 gnd |
| topic_facet | Infrastructure (Économie politique) - Pays en voie de développement Investissements étrangers - Pays en voie de développement Entwicklungsländer Infrastructure (Economics) Developing countries Investments, Foreign Developing countries Auslandsinvestition |
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