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Renegotiation of Concession Contracts in Latin America

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dc.contributor.author Straub, Stephane
dc.contributor.author Laffont, Jean-Jacques
dc.contributor.author Guasch, J. Luis
dc.date.accessioned 2014-05-09T19:28:48Z
dc.date.available 2014-05-09T19:28:48Z
dc.date.issued 2003-04
dc.identifier.uri http://hdl.handle.net/10986/18224
dc.description.abstract The authors construct a regulation model in which renegotiation occurs due to the imperfect enforcement of concession contracts. This enables the authors to provide theoretical predictions for the impact on the probability of renegotiation of a concession, regulatory institutions, institutional features, economic shocks, and the characteristics of the concession contracts. Then they use a data set of nearly 1,000 concessions awarded in Latin America and the Caribbean countries from 1989 to 2000 covering the sectors of telecommunications, energy, transport, and water to test these predictions. Finally, the authors derive some policy implications of their theoretical and empirical work. en
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.relation.ispartofseries Policy Research Working Paper;No. 3011
dc.rights CC BY 3.0 IGO
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo/
dc.subject UTILITIES
dc.subject MARGINAL COST
dc.subject EXPENDITURES
dc.subject PRODUCTIVITY
dc.subject PUBLIC FINANCING
dc.subject PRICE ELASTICITY OF DEMAND
dc.subject DEBT
dc.subject DIVESTITURE
dc.subject MORAL HAZARD
dc.subject POLITICIANS
dc.subject REGULATORY INSTITUTIONS
dc.subject JUDGES
dc.subject NATURAL MONOPOLY
dc.subject ECONOMIC SHOCKS
dc.subject EMPIRICAL STUDIES
dc.subject SOCIAL SECTORS
dc.subject INFORMATION ASYMMETRIES
dc.subject PRIVATE ENTERPRISES
dc.subject TAX
dc.subject EQUILIBRIUM
dc.subject POLICY RESEARCH
dc.subject ECONOMIC GROWTH
dc.subject CONCESSIONS
dc.subject INSTITUTIONAL CONSTRAINTS
dc.subject SOCIAL WELFARE
dc.subject EMPIRICAL ANALYSIS
dc.subject CONCESSION CONTRACTS
dc.subject ELECTRICITY
dc.subject GOVERNMENT INTERVENTION
dc.subject TRANSACTION COSTS
dc.subject CONSENSUS
dc.subject PUBLIC INFRASTRUCTURE
dc.subject POLICY DECISIONS
dc.subject REGULATORY CAPTURE
dc.subject APPROPRIATE TECHNOLOGY
dc.subject MONOPOLY
dc.subject ECONOMICS
dc.subject PUBLIC FUNDS
dc.subject ASYMMETRIC INFORMATION
dc.subject PRIVATE SECTOR
dc.subject REGULATORY BODY
dc.subject DEVELOPED COUNTRIES
dc.subject PRIVATE SECTOR PARTICIPATION
dc.subject INCOME
dc.subject UTILITIES CONCESSIONS; REGULATORY FRAMEWORK; CONTRACT NEGOTIATION; INSTITUTIONAL CAPACITY; ECONOMIC SHOCKS; DATA ANALYSIS; TELECOMMUNICATIONS; ENERGY SECTOR; WATER SECTOR; TRANSPORT SECTOR; POLICY FORMATION
dc.subject MOTIVATIONS
dc.subject ADVERSE SELECTION
dc.subject CORRUPTION
dc.subject ARBITRATION
dc.subject REGULATORS
dc.subject PROVISION OF INFRASTRUCTURE
dc.subject PORTS
dc.subject REGULATORY FRAMEWORK
dc.subject ROADS
dc.subject SOCIAL COST
dc.subject SECTOR RESTRUCTURING
dc.subject REGULATOR
dc.subject CONCESSION
dc.subject ACCOUNTING
dc.subject BOT
dc.subject POVERTY ALLEVIATION
dc.subject AIRPORTS
dc.subject POTENTIAL INVESTORS
dc.subject ENFORCEMENT MECHANISM
dc.subject TELECOMMUNICATIONS
dc.subject PRIVATE INFORMATION
dc.subject TAX SYSTEM
dc.subject STATE OWNED ENTERPRISES
dc.title Renegotiation of Concession Contracts in Latin America en


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