Institutional Investment in Infrastructure in Developing Countries : Introduction to Potential Models

Inderst, Georg ; Stewart, Fiona

World Bank, Washington, DC

关键词: ADVANCED ECONOMIES;    ASSET CLASS;    ASSET CLASSES;    ASSET MANAGERS;    BANK ASSETS;   

DOI  :  10.1596/1813-9450-6780
RP-ID  :  WPS6780

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The link between infrastructure andeconomic growth is widely acknowledged -- as is theinfrastructure gap, which can act as a break on growth inemerging markets and developing economies (EMDEs). Since theglobal economic and financial crisis, the challenges ofraising financing for infrastructure projects in EMDEs arealso well known. The challenges come from stretchedgovernment finances and restrictions on global bank lending.Hence much attention has been focused on the potential forinstitutional investors as a growing potential source offinancing. This paper argues that infrastructure projectscan potentially deliver long-term returns, but investments,particularly in EMDEs need to be carefully structured tomeet the needs of both sides. The paper first considers theexisting types of institutional investors and theirpotential for filling the infrastructure financing gap. Thechallenges of adjusting asset allocations, particularlytoward EMDE infrastructure, are discussed and examples ofprojects where institutional investors have been involvedare given. Finally, the paper considers a range of modelsfor the involvement of institutional investors in EMDEs andmakes initial proposals for how to determine which modelfits best in a particular country context.