科技报告详细信息
Macroeconomics Effects of Private Sector Participation in Latin America's Infrastructure
Trujillo, Lourdes ; Martin, Noelia ; Estache, Antonio ; Campos, Javier
World Bank, Washington, DC
关键词: PRIVATE SECTOR PARTICIPATION;    PRIVATE INFRASTRUCTURE;    PUBLIC EXPENDITURES;    GROSS DOMESTIC PRODUCT;    PUBLIC INVESTMENTS;   
DOI  :  10.1596/1813-9450-2906
RP-ID  :  WPS2906
学科分类:社会科学、人文和艺术(综合)
来源: World Bank Open Knowledge Repository
PDF
【 摘 要 】

The authors provide empirical evidenceon the impact that private participation in infrastructurehas had on key macroeconomic variables in a sample of 21Latin American countries from 1985-98. Specifically, theylook at the effects on GDP per capita, current publicexpenditures, public investment, and private investment,controlling for country effects and institutional factors.The authors also investigate the relevance of the specificcontractual form of private participation contracts on thesevariables and show differentiated effects according tocontract types. The results suggest that: 1) Private sectorinvolvement in utilities and transport have some, but notimpressive, positive effects on GDP per capita. 2) There issome degree of crowding-out of private investment resultingfrom greenfield projects in utilities, and delayedcrowding-in from concessions in transport. 3) There iscrowding-in of public investment by private participation inutilities, while there is crowding-out by increased privateinvestment in transport. 4) Private participation inutilities decreases recurrent expenditures, while intransport it results in an increase. The net effect on thepublic sector account is uncertain, but this uncertainty isa major risk. The revelation of this risk may be the maincontribution of this paper since it is inconsistent with thefiscal gains expected by many policymakers as they engage ininfrastructure privatization programs.

【 预 览 】
附件列表
Files Size Format View
multi0page.pdf 2348KB PDF download
  文献评价指标  
  下载次数:11次 浏览次数:2次