Transaction Costs in Private Infrastructure Projects - Are They Too High?

Transaction Costs in Private Infrastructure Projects - Are They Too High?

While the number of private infrastructure projects continues to grow, tales of endless delays and exorbitant development costs still scare both developers and governments. The authors show that these costs are related not to project size but to th...

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Bibliographic Details
Main Authors: Klein, Michael, So, Jae, Shin, Ben
Format: Viewpoint
Language:English
Published: World Bank, Washington, DC 2012
Subjects:
ADVISORY FEES
AUDITING
BALANCE SHEET
BANKS
FINANCIAL CLOSURE
INTEREST RATES
INVESTMENT BANKERS
LAWS
LEGISLATION
PRIVATE FINANCE
PRIVATE FINANCING
PRIVATE INVESTORS
PRIVATE PARTICIPATION
PRIVATE SECTOR
PROJECT FINANCE
REVENUE SHARING
SAVINGS
SOVEREIGN GUARANTEE
TRANSACTION COSTS
WATER SUPPLY DENATIONALIZATION
INFRASTRUCTURE
INFORMATION DISSEMINATION
COSTS
UNCERTAINTY
PRIVATE INFRASTRUCTURE
Online Access:http://documents.worldbank.org/curated/en/1996/10/693106/transaction-costs-private-infrastructure-projects-too-high
http://hdl.handle.net/10986/11605
Description
Summary:While the number of private infrastructure projects continues to grow, tales of endless delays and exorbitant development costs still scare both developers and governments. The authors show that these costs are related not to project size but to the characteristics of the policy environment. As governments gain experience and clarify policy, these costs will inevitably fall.

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