Renegotiation of Concession Contracts in Latin America
The authors construct a regulation model
in which renegotiation occurs due to the imperfect
enforcement of concession contracts. This enables the
authors to provide theoretical predictions for the impact on
the probability of renegotiation of a concession, regulatory
institutions, institutional features, economic shocks, and
the characteristics of the concession contracts. Then they
use a data set of nearly 1,000 concessions awarded in Latin
America and the Caribbean countries from 1989 to 2000
covering the sectors of telecommunications, energy,
transport, and water to test these predictions. Finally, the
authors derive some policy implications of their theoretical
and empirical work.
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Bibliographic Details
| Main Authors: |
Laffont, Jean-Jacques,
Guasch, J. Luis,
Straub, Stephane |
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| Language: | English
en_US |
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| Published: |
World Bank, Washington, DC
2003-04
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| Subjects: | ACCOUNTING,
ADVERSE SELECTION,
AIRPORTS,
APPROPRIATE TECHNOLOGY,
ARBITRATION,
ASYMMETRIC INFORMATION,
BOT,
CONCESSION,
CONCESSION CONTRACTS,
CONSENSUS,
CORRUPTION,
DEBT,
DEVELOPED COUNTRIES,
DIVESTITURE,
ECONOMIC GROWTH,
ECONOMIC SHOCKS,
ECONOMICS,
ELECTRICITY,
EMPIRICAL ANALYSIS,
EMPIRICAL STUDIES,
ENFORCEMENT MECHANISM,
EQUILIBRIUM,
EXPENDITURES,
GOVERNMENT INTERVENTION,
INCOME,
INFORMATION ASYMMETRIES,
INSTITUTIONAL CONSTRAINTS,
JUDGES,
MARGINAL COST,
MONOPOLY,
MORAL HAZARD,
MOTIVATIONS,
NATURAL MONOPOLY,
POLICY DECISIONS,
POLICY RESEARCH,
POLITICIANS,
PORTS,
POTENTIAL INVESTORS,
POVERTY ALLEVIATION,
PRICE ELASTICITY OF DEMAND,
PRIVATE ENTERPRISES,
PRIVATE INFORMATION,
PRIVATE SECTOR,
PRIVATE SECTOR PARTICIPATION,
PRODUCTIVITY,
PROVISION OF INFRASTRUCTURE,
PUBLIC FINANCING,
PUBLIC FUNDS,
PUBLIC INFRASTRUCTURE,
REGULATOR,
REGULATORS,
REGULATORY BODY,
REGULATORY CAPTURE,
REGULATORY FRAMEWORK,
REGULATORY INSTITUTIONS,
ROADS,
SECTOR RESTRUCTURING,
SOCIAL COST,
SOCIAL SECTORS,
SOCIAL WELFARE,
STATE OWNED ENTERPRISES,
TAX,
TAX SYSTEM,
TELECOMMUNICATIONS,
TRANSACTION COSTS,
UTILITIES CONCESSIONS; REGULATORY FRAMEWORK; CONTRACT NEGOTIATION; INSTITUTIONAL CAPACITY; ECONOMIC SHOCKS; DATA ANALYSIS; TELECOMMUNICATIONS; ENERGY SECTOR; WATER SECTOR; TRANSPORT SECTOR; POLICY FORMATION,
UTILITIES,
CONCESSIONS, |
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| Online Access: | http://documents.worldbank.org/curated/en/2003/04/2210557/renegotiation-concession-contracts-latin-america
https://hdl.handle.net/10986/18224
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