The problem of climate change seems to be a tragedy of the commons: despite the global benefits of reducing green-house gas emissions, no individual has any incentive to reduce his or her own emissions...
When growth-promoting spending is cut so much that the present value of future government revenues falls by more than the immediate improvement in the cash deficit, fiscal adjustment becomes like walking...
Fiscal adjustment becomes like walking up the down escalator when growth-promoting spending is cut so much as to lower growth and thus the present value of future tax revenues to a degree that more than...
Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments...
This study reviews the status and performance of the physical infrastructure in the transition economies of the Europe and Central Asia (ECA) region during the last 12 to 15 years and attempts to identify...
Output-based payments are an important tool of government policy. Sometimes governments offer "output-based aid" to subsidize services sold to households. Because output-based payments are tied to the...
Long-term commitments to make output-based payments for infrastructure can encourage private investors to provide socially valuable services. Making good decisions about such commitments is difficult...
Long-term commitments to make output-based payments for infrastructure can encourage private investors to provide socially valuable services. Making good decisions about such commitments is difficult however...
Most government-owned utilities in developing countries perform poorly when judged as providers of electricity, in part because politicians and officials use their power, not to encourage the utilities...
Each year developing countries seek billions of dollars of investment in their infrastructure, and private investors, mostly in rich countries, seek places to invest trillions of dollars of new savings...
When governments seek private investment in infrastructure projects, they usually find themselves asked to provide grants, guarantees, or other forms of fiscal support. Often they prefer to provide support...
The privatization of infrastructure should lead to the development of new infrastructure, improvements in the operation of existing infrastructure, and a reduction in budgetary subsidies. Whether countries...
This report provides a guide to the complex range of issues and options related to design, award, implementation, monitoring, and modification of concessions. The main rationale for concessions is that...
This volume reports on the findings of a conference on managing government exposure to private infrastructure projects. The transfer of risk to private operators should lead to the development of new infrastructure...
This note compares the effects of price cap and rate-of-return regulation on the risk borne by regulated utilities. It present evidence that price cap regulation subjects firms to greater risks and therefore...
Responsible investing for cities and taxpayers, by Timothy Irwin. New ways to package urban investments, by Lyndsay Neilson. India's ULBs give lenders more than IOUs, by Patralekha Chatterjee. National...
Governments often regulate not only the overall level of prices charged by infrastructure firms but also the relationship between prices for different services or customers. Prices can differ among different...
The water industry differs in two key respects from such other network industries as gas, electricity, and telecommunications. First, it offers fewer opportunities for competition among suppliers, since...