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dc.contributor.authorEngel, Eduardo M. R. A.en
dc.contributor.authorFischer, Ronald D.en
dc.contributor.authorGaletovic, Alexanderen
dc.date.accessioned2011-05-04T08:19:25Z-
dc.date.available2011-05-04T08:19:25Z-
dc.date.issued2010-
dc.identifier.citation|aEIB Papers|c0257-7755|v15|h1|nEuropean Investment Bank (EIB)|lLuxembourg|y2010|p40-69en
dc.identifier.urihttp://hdl.handle.net/10419/45373-
dc.description.abstractWe examine the economics of infrastructure finance, focusing on public provision and Public-Private Partnerships (PPPs). We show that project finance is appropriate for PPP projects, because there are few economies of scope and because assets are project specific. Furthermore, we suggest that the higher cost of finance of PPPs is not an argument in favour of public provision, since it appears to reflect the combination of deficient contract design and the cost-cutting incentives embedded in PPPs. Thus, in the case of a correctly designed PPP contract, the higher cost of capital may be the price to pay for the efficiency advantages of PPPs. We also examine the role of government activities in PPP financing (e.g. revenue guarantees, renegotiations) and their consequences. Finally, we discuss how to include PPPs, revenue guarantees and the results of PPP contract renegotiation in the government balance sheet.en
dc.language.isoengen
dc.publisher|aEuropean Investment Bank (EIB) |cLuxembourgen
dc.subject.ddc330en
dc.titleThe economics of infrastructure finance: Public-private partnerships versus public provision-
dc.typeArticleen
dc.identifier.ppn657028975en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
econstor.citation.journaltitleEIB Papersen
econstor.citation.issn0257-7755en
econstor.citation.volume15en
econstor.citation.issue1en
econstor.citation.publisherEuropean Investment Bank (EIB)en
econstor.citation.publisherplaceLuxembourgen
econstor.citation.year2010en
econstor.citation.startpage40en
econstor.citation.endpage69en

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