Avoiding Customer and Taxpayer Bailouts in Private Infrastructure Projects: Policy toward Leverage, Risk Allocation, and Bankruptcy

Avoiding Customer and Taxpayer Bailouts in Private Infrastructure Projects: Policy toward Leverage, Risk Allocation, and Bankruptcy

Many private infrastructure projects mix regulation that subjects the private company to considerable risk, a government or regulator that is reluctant to see the company go bankrupt, and high leverage on the part of the company. If all goes well,...

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Bibliographic Details
Main Authors: Ehrhardt, David, Irwin, Timothy
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, D.C. 2013
Subjects:
ACTUAL COSTS
AIRPORTS
ASSETS
BANKRUPTCY
BONDS
BOOK VALUE
COST SAVINGS
CPI
CREDIT RATINGS
DEBT
DEPRECIATION
DISCOUNT RATE
ELECTRICITY
EVASION
EXPECTED VALUE
FORECASTS
GROWTH PROJECTIONS
INFLATION
LAWS
LICENSES
MARKET VALUE
MATURITY
NOMINAL PRICES
OIL
OPERATING LEASES
OPERATING RISK
PRESENT VALUE
PRIVATE SECTOR
PRIVATIZATION
PRODUCERS
PROFITABILITY
PROVISIONS
PUBLIC TRANSPORT
REGULATORY POWERS
ROADS
SAVINGS
SEWAGE
TAX
TELECOMMUNICATIONS
TRANSACTIONS COSTS
TRANSPORT
TREASURY
UTILITIES
VALUE ADDED
WORKING CAPITAL RISK ALLOCATION
RISK
SHAREHOLDERS EQUITY
DEBT PROBLEMS
FINANCIAL LEVERAGE
PRICE INCREASES
TAX SYSTEMS
PRIVATE SECTOR INVESTMENTS
MITIGATION
PRIVATE OWNERSHIP
Online Access:http://documents.worldbank.org/curated/en/2004/04/3568949/avoiding-customer-taxpayer-bailouts-private-infrastructure-projects-policy-toward-leverage-risk-allocation-bankruptcy
http://hdl.handle.net/10986/14300

Internet

http://documents.worldbank.org/curated/en/2004/04/3568949/avoiding-customer-taxpayer-bailouts-private-infrastructure-projects-policy-toward-leverage-risk-allocation-bankruptcy
http://hdl.handle.net/10986/14300

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