Private participation in infrastructure projects in the Republic of Korea:
"In the aftermath of the 1997 East Asian financial crisis, the government of the Republic of Korea published a Private Participation in Infrastructure (PPI) Act to remove the main impediments to private investment in infrastructure sectors. The implementation of the Act was followed by a steady...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C]
World Bank
[2005]
|
| Schriftenreihe: | Policy research working paper
3689 |
| Schlagworte: | |
| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | "In the aftermath of the 1997 East Asian financial crisis, the government of the Republic of Korea published a Private Participation in Infrastructure (PPI) Act to remove the main impediments to private investment in infrastructure sectors. The implementation of the Act was followed by a steady increase in the number of PPI projects, thus spurring the modernization of the main infrastructure facilities in transport, water, electricity, and telecommunications. Despite this progress, the Korean PPI market still faces critical challenges that are probably related to its nascent stage of development. The market is dominated by five construction and engineering firms, but lacks world-class project developers. At the same time, the procurement of PPI projects takes on average four years, and competition in tenders is limited. The number of unsolicited proposals is abnormally high, whereas the number of solicited proposals remains flat. The participation of foreign firms is very limited despite the size of the market and the number of projects awarded. Although local financing is available, the maturity of financing instruments does not exceed five years for most corporate papers, and 10 years for government bonds. This paper reviews the procurement of PPI projects in Korea and benchmarks it to international best practices before proposing options for its improvement. "--World Bank web site |
| Beschreibung: | Includes bibliographical references Title from PDF file as viewed on 8/25/2005 |
| Beschreibung: | 1 Online-Ressource |
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| 520 | 3 | |a "In the aftermath of the 1997 East Asian financial crisis, the government of the Republic of Korea published a Private Participation in Infrastructure (PPI) Act to remove the main impediments to private investment in infrastructure sectors. The implementation of the Act was followed by a steady increase in the number of PPI projects, thus spurring the modernization of the main infrastructure facilities in transport, water, electricity, and telecommunications. Despite this progress, the Korean PPI market still faces critical challenges that are probably related to its nascent stage of development. The market is dominated by five construction and engineering firms, but lacks world-class project developers. At the same time, the procurement of PPI projects takes on average four years, and competition in tenders is limited. The number of unsolicited proposals is abnormally high, whereas the number of solicited proposals remains flat. The participation of foreign firms is very limited despite the size of the market and the number of projects awarded. Although local financing is available, the maturity of financing instruments does not exceed five years for most corporate papers, and 10 years for government bonds. This paper reviews the procurement of PPI projects in Korea and benchmarks it to international best practices before proposing options for its improvement. "--World Bank web site | |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:47Z |
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| spelling | Noumba Um, Paul Verfasser aut Private participation in infrastructure projects in the Republic of Korea Paul Noumba Um, Severine Dinghem [Washington, D.C] World Bank [2005] 1 Online-Ressource txt rdacontent c rdamedia cr rdacarrier Policy research working paper 3689 Includes bibliographical references Title from PDF file as viewed on 8/25/2005 "In the aftermath of the 1997 East Asian financial crisis, the government of the Republic of Korea published a Private Participation in Infrastructure (PPI) Act to remove the main impediments to private investment in infrastructure sectors. The implementation of the Act was followed by a steady increase in the number of PPI projects, thus spurring the modernization of the main infrastructure facilities in transport, water, electricity, and telecommunications. Despite this progress, the Korean PPI market still faces critical challenges that are probably related to its nascent stage of development. The market is dominated by five construction and engineering firms, but lacks world-class project developers. At the same time, the procurement of PPI projects takes on average four years, and competition in tenders is limited. The number of unsolicited proposals is abnormally high, whereas the number of solicited proposals remains flat. The participation of foreign firms is very limited despite the size of the market and the number of projects awarded. Although local financing is available, the maturity of financing instruments does not exceed five years for most corporate papers, and 10 years for government bonds. This paper reviews the procurement of PPI projects in Korea and benchmarks it to international best practices before proposing options for its improvement. "--World Bank web site Online-Ausg Also available in print Capital investments Korea (South) Financial crises Korea (South) Infrastructure (Economics) Korea (South) Privatization Korea (South) Dinghem, Severine Sonstige oth World Bank Sonstige oth Noumba Um, Paul Private participation in infrastructure projects in the Republic of Korea http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3689 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Noumba Um, Paul Private participation in infrastructure projects in the Republic of Korea Capital investments Korea (South) Financial crises Korea (South) Infrastructure (Economics) Korea (South) Privatization Korea (South) |
| title | Private participation in infrastructure projects in the Republic of Korea |
| title_auth | Private participation in infrastructure projects in the Republic of Korea |
| title_exact_search | Private participation in infrastructure projects in the Republic of Korea |
| title_exact_search_txtP | Private participation in infrastructure projects in the Republic of Korea |
| title_full | Private participation in infrastructure projects in the Republic of Korea Paul Noumba Um, Severine Dinghem |
| title_fullStr | Private participation in infrastructure projects in the Republic of Korea Paul Noumba Um, Severine Dinghem |
| title_full_unstemmed | Private participation in infrastructure projects in the Republic of Korea Paul Noumba Um, Severine Dinghem |
| title_short | Private participation in infrastructure projects in the Republic of Korea |
| title_sort | private participation in infrastructure projects in the republic of korea |
| topic | Capital investments Korea (South) Financial crises Korea (South) Infrastructure (Economics) Korea (South) Privatization Korea (South) |
| topic_facet | Capital investments Korea (South) Financial crises Korea (South) Infrastructure (Economics) Korea (South) Privatization Korea (South) |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-3689 |
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