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Determinants of public-private partnerships in infrastructure
Authors: --- --- --- ---
ISBN: 1451863594 146231550X 1451908938 9786613823816 1452727953 1283511363 Year: 2006 Publisher: [Washington, D.C.] : International Monetary Fund, IMF Institute,

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This paper presents an empirical analysis of the cross-country and cross-industry determinants of public-private partnership (PPP) arrangements. We find that PPPs tend to be more common in countries where governments suffer from heavy debt burdens and where aggregate demand and market size are large. Our findings also suggest that macroeconomic stability is essential for PPPs. We provide evidence on the importance of institutional quality, where less corruption and effective rule of law are associated with more PPP projects. PPPs are also more prevalent in countries with previous PPP experiences. At the industry level, we find that PPP determinants vary across industries depending on the nature of public infrastructure, capital intensity, and technology required. We also find that private participation in PPP projects depends on the expected marketability, the technology required, and the degree of "impurity" of the goods or services.


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Public-private partnerships : a public economics perspective
Authors: ---
ISBN: 1451863373 1462397239 1451988001 9786613830463 1452776385 1283518015 Year: 2006 Publisher: [Washington, D.C.] : International Monetary Fund, Fiscal Affairs Dept.,

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Public-private partnerships (PPPs) involve the supply by the private sector of infrastructure and services deriving from infrastructure assets which have traditionally been supplied by the public sector. PPPs are spreading all over the world. It may be quite plausible that such arrangements were initially an attempt to evade expenditure controls and hide public budget deficits. But if they are properly designed and transparently reported, PPPs can enhance the efficiency of the provision of services that were formerly supplied solely by the public sector. This paper provides a public economics perspective on PPPs.


Book
Public-Private Partnerships, Government Guarantees, and Fiscal Risk
Authors: --- --- --- --- --- et al.
ISBN: 1455275123 1451988559 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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Public-private partnerships (PPPs) refer to arrangements under which the private sector supplies infrastructure assets and infrastructure-based services that traditionally have been provided by the government. PPPs are used for a wide range of economic and social infrastructure projects, but they are used mainly to build and operate roads, bridges and tunnels, light rail networks, airports and air traffic control systems, prisons, water and sanitation plants, hospitals, schools, and public buildings. PPPs offer benefits similar to those offered by privatization, which is the sale of government-owned enterprises or assets. By the late 1990s, when privatization was losing much of its earlier momentum, PPPs began to be widely seen as a means of obtaining private sector capital and management expertise for infrastructure investment. After a modest start, a wave of PPPs is now beginning to sweep the world. This Special Issue paper provides an overview of some of the issues raised by PPPs, with a particular focus on their fiscal consequences. It also looks at government guarantees, which are used fairly widely to shield the private sector from risk and are a common feature of PPPs. And it examines the consequences of PPPs and guarantees for debt sustainability. The paper concludes with a list of measures that can maximize the benefits and minimize the fiscal risks associated with the use of PPPs. Various appendices augment the discussion by examining country experiences with PPPs, summarizing the statistical reporting framework used to discuss fiscal accounting and reporting, explaining accounting for risk transfer, examining how guarantees are modeled and estimated in Chile, and summarizing international accounting and reporting standards for contingent liabilities.


Book
Nicaragua : Poverty Reduction Strategy Paper.
Authors: ---
ISBN: 1455280275 1452795827 1280882891 9786613724205 1451885725 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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This Poverty Reduction Strategy Paper for Nicaragua reports that the most pressing demand for the majority of Nicaraguans is employment generation and economic growth. The National Development Plan (NDP) gives priority to actions that improve the investment climate and promote productive development—considering the competitive potential of the territories—giving a better position to Nicaragua in the trading world through increased foreign investment. The NDP establishes a more effective regulatory framework, and promotes competition and a legal framework that guarantees property rights and lowers domestic transaction costs.


Book
IMF Research Bulletin, June 2006.
Authors: ---
ISBN: 1462373437 145525682X 1283536420 1455298115 9786613848871 Year: 2006 Publisher: Washington, D.C. : International Monetary Fund,

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Research summaries on (1) public investment, and (2) bank transaction taxes; announcement of forthcoming (November 2006) Jacques Polak Seventh Annual Research Conference; country study on Italy; listing of contents of Vol. 53, No. 2 of IMF Staff Papers, summary of recently published book entitled "Divergent Paths in Post-Communist Transformation: Capitalism for All or Capitalism for the Few?"; summary of (January 2006) Warsaw Conference on European Union (EU) enlargement and related flows of labor and capital; listing of recent IMF Working Papers; and listing of visiting scholars at IMF, January-April 2006.

The new public finance : responding to global challenges.
Authors: ---
ISBN: 9780195179972 0195179978 019517996X 9780195179965 Year: 2006 Publisher: New York United Nations

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The world's agenda of international cooperation has changed. The conventional concerns of foreign affairs, international trade, and development assistance, are increasingly sharing the political center stage with a new set of issues. These include trans-border concerns such as global financial stability and market efficiency, risk of global climate change, bio-diversity conservation, control of resurgent and new communicable diseases, food safety, cyber crime and e-commerce, control of drug trafficking, and international terrorism and weapons of mass destruction. Globalization and increasing porosity of national borders have been key driving forces that have led to growing interdependence and interlocking of the public domains--and therefore, public policy concerns--of countries, governments, private businesses, civil society, and people at large. Thus, new and different issues are now occupying top places on national policy agendas, and consequently, on the agendas of international negotiating forums. The policy approaches to global challenges are also changing. A proliferation and diversification of international cooperation efforts include focus on financing arrangements. Financing of international cooperation in most instances is a haphazard and non-transparent process and often seems to run parallel to international negotiations. There are many unfunded mandates and many-non-mandatory funds. To agree on and to achieve international economic goals, we need to understand how financing of international cooperation efforts actually works. Our understanding is hampered by two gaps: 1) lack of an integrated and cohesive theoretical framework; 2) lack of consolidated empirical and operational knowledge in the form of a comprehensive inventory of past, current and possible future (i.e. currently deliberated) financing mechanisms. This book reduces these two gaps and provides a guide to improve our ability to finance international cooperation.


Book
Les poles de compétitivité dans le système français et européen : approches sur les partenariats institutionnels.
Author:
ISBN: 2296024866 9782296024861 Year: 2006 Publisher: Paris Harmattan


Book
What's driving private investment in Malaysia? : aggregate trends and firm-level evidence
Authors: ---
ISBN: 1451864507 1462322557 1451990154 9786613831446 1451998430 1283518996 Year: 2006 Publisher: [Washington, D.C.] : International Monetary Fund, IMF Institute,

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Private sector investment has been a key source of growth in Malaysia over the last three decades, but after an unprecedented decline in the wake of the Asian crisis it has remained sluggish in recent years. Using aggregate and firm-level data, this paper aims to explain these trends and their implications for Malaysia's investment and growth outlook. Aggregate data point to sustained overinvestment in the years prior to the Asian crisis and the role of shifts in investor perceptions as important determinants of the recent decline in private investment. Meanwhile, firm-level data suggest that low profitability, along with financing constraints affecting smaller firms and those in the services sector, has also been important.

Seeds of disaster, roots of response
Author:
ISBN: 9780521857963 9780511509735 9780521685726 0511249969 9780511249969 9780511250477 0511250479 9780511248900 0511248903 0511249454 9780511249457 0511509731 1280702788 9781280702785 9786610702787 6610702780 0521857961 0521685729 110716690X 0511319053 Year: 2006 Publisher: Cambridge New York Cambridge University Press

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In the wake of 9/11 and hurricane Katrina, executives and policymakers are increasingly motivated to reduce the vulnerability of social and economic systems to disasters. Most prior work on 'critical infrastructure protection' has focused on the responsibilities and actions of government rather than on those of the private sector firms that provide most vital services. Seeds of Disaster, Roots of Response is the first systematic attempt to understand how private decisions and operations affect public vulnerability. It describes effective and sustainable approaches - both business strategies and public policies - to ensure provision of critical services in the event of disaster. The authors are business leaders from multiple industries and are experts in risk analysis, economics, engineering, organization theory and public policy. The book shows the necessity of deeply rooted collaboration between private and public institutions, and the accountability and leadership required to progress from words to action.

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