Financing infrastructure in developing countries
Copyright policy )Financing infrastructure in developing countries
This article develops a theoretical framework to analyse options for financing infrastructure in developing countries. We build a basic model that gives motivations for using a combination of public finance, private debt, and private equity. The model is then extended in a number of ways to examine factors that are important for developing countries. We focus in particular on key institutional weaknesses that are often important for infrastructure investment. Overall, we show that such weaknesses can be key in determining financing choices, but that they do not all push in the same direction. Financing schemes must therefore be adapted to consider the institutional limitations that are most pertinent in any given context.
Saving and Capital Investment, JEL: O - Economic Development, National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock, Droit de l'environnement, infrastructure, JEL: G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G38 - Government Policy and Regulation, Financing Policy, [SHS]Humanities and Social Sciences, finance; development; infrastructure, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, O16, Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance, Economie, [SHS] Humanities and Social Sciences, Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure, Capital and Ownership Structure, Economic Development: Financial Markets, 330, finance, H.H5.H54 - Infrastructures • Other Public Investment and Capital Stock, Development, National Government Expenditures and Related Policies: Infrastructures, Corporate Finance and Governance: Government Policy and Regulation, Financial Risk and Risk Management, O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance, JEL: H - Public Economics/H.H5 - National Government Expenditures and Related Policies/H.H5.H54 - Infrastructures • Other Public Investment and Capital Stock, G32, H54, Innovation, development, Infrastructure, G.G3.G38 - Government Policy and Regulation, Economie de l'environnement et des ressources naturelles, G.G3.G32 - Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill, G38, Other Public Investment and Capital Stock, JEL: G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G32 - Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance, Econométrie et méthodes statistiques :théorie et applications, Corporate Finance and Governance, Finance, jel: jel:O16, jel: jel:G32, jel: jel:H54, jel: jel:G38
Saving and Capital Investment, JEL: O - Economic Development, National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock, Droit de l'environnement, infrastructure, JEL: G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G38 - Government Policy and Regulation, Financing Policy, [SHS]Humanities and Social Sciences, finance; development; infrastructure, [SHS.ECO] Humanities and Social Sciences/Economics and Finance, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, O16, Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance, Economie, [SHS] Humanities and Social Sciences, Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure, Capital and Ownership Structure, Economic Development: Financial Markets, 330, finance, H.H5.H54 - Infrastructures • Other Public Investment and Capital Stock, Development, National Government Expenditures and Related Policies: Infrastructures, Corporate Finance and Governance: Government Policy and Regulation, Financial Risk and Risk Management, O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance, JEL: H - Public Economics/H.H5 - National Government Expenditures and Related Policies/H.H5.H54 - Infrastructures • Other Public Investment and Capital Stock, G32, H54, Innovation, development, Infrastructure, G.G3.G38 - Government Policy and Regulation, Economie de l'environnement et des ressources naturelles, G.G3.G32 - Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill, G38, Other Public Investment and Capital Stock, JEL: G - Financial Economics/G.G3 - Corporate Finance and Governance/G.G3.G32 - Financing Policy • Financial Risk and Risk Management • Capital and Ownership Structure • Value of Firms • Goodwill, Technological Change, and Growth/O.O1 - Economic Development/O.O1.O16 - Financial Markets • Saving and Capital Investment • Corporate Finance and Governance, Econométrie et méthodes statistiques :théorie et applications, Corporate Finance and Governance, Finance, jel: jel:O16, jel: jel:G32, jel: jel:H54, jel: jel:G38
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