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Preface | p. xxiii |
Acknowledgments | p. xxv |
Abbreviations | p. xxvii |
Introduction | p. 1 |
Setting the Stage | p. 7 |
Why Infrastructure Matters | p. 7 |
Trends in Infrastructure Financing | p. 10 |
Distribution | p. 17 |
Sectoral Distribution | p. 17 |
Geographic Distribution | p. 19 |
Modal Distribution | p. 21 |
Investor Type: Geographic Location | p. 26 |
Limitations | p. 28 |
Achievements and Moving Forward | p. 35 |
Learning from Existing Literature | p. 43 |
Employment and Wages | p. 44 |
Prices of Services | p. 45 |
Quality of Services | p. 45 |
Access to Services and Coverage | p. 46 |
Asset Ownership | p. 46 |
Impact on Investors | p. 47 |
Fiscal Flows | p. 48 |
Productivity and Financial Solvency | p. 49 |
Distributional Impact and Consumer Welfare | p. 50 |
Filling Gaps with New Data Sets and Methodologies | p. 57 |
Data Sets | p. 58 |
Performance Indicators Data Set | p. 58 |
Contract and Regulatory Characteristics Data Set | p. 60 |
LAC Electricity Benchmarking Database | p. 60 |
New Methodology: Separating Transition versus Long-Run Effects | p. 67 |
New Methodology: Distinguishing Levels from Trends | p. 68 |
Means and Medians Analysis | p. 70 |
Econometric Analysis | p. 71 |
Adding Contract and Regulatory Characteristics | p. 73 |
Endogeneity and Selection Bias | p. 74 |
The Impact on Electricity Distribution | p. 79 |
Introduction | p. 79 |
The Privatization Process | p. 79 |
Data | p. 90 |
Impact on Output and Coverage | p. 90 |
Electricity Distribution: Output and Coverage Summary | p. 90 |
Energy Sold | p. 90 |
Number of Connections | p. 93 |
Coverage | p. 95 |
Impact on Employment | p. 98 |
Electricity Distribution: Employment Summary | p. 98 |
Impact on Labor Productivity and Efficiency | p. 101 |
Electricity Distribution: Labor Productivity and Efficiency Summary | p. 101 |
Labor Productivity | p. 101 |
Distributional Losses | p. 102 |
Impact on Prices | p. 106 |
Electricity Distribution: Price Summary | p. 106 |
Impact on Quality | p. 109 |
Electricity Distribution: Quality Summary | p. 109 |
Conclusion | p. 114 |
The Impact on Fixed-Line Telecommunications | p. 117 |
Introduction | p. 117 |
The Privatization Process | p. 118 |
Data | p. 120 |
Impact on Output and Coverage | p. 122 |
Telecommunications: Output and Coverage Summary | p. 122 |
Number of Connections | p. 122 |
Number of Minutes | p. 124 |
Coverage | p. 126 |
Impact on Employment | p. 129 |
Telecommunications: Employment Summary | p. 129 |
Impact on Labor Productivity and Efficiency | p. 131 |
Telecommunications: Labor Productivity and Efficiency Summary | p. 131 |
Labor Productivity | p. 132 |
Incomplete Calls | p. 136 |
Impact on Prices | p. 138 |
Telecommunications: Price Summary | p. 138 |
Impact on Quality | p. 141 |
Telecommunications: Quality Summary | p. 141 |
Liberalization and Competition | p. 144 |
Telecommunications: Liberalization and Competition Summary | p. 144 |
Liberalization | p. 148 |
Competition from Mobile Service Providers | p. 149 |
Conclusion | p. 151 |
The Impact on Water and Sewerage | p. 153 |
Introduction | p. 153 |
The Privatization Process | p. 153 |
Data | p. 155 |
Impact on Output and Coverage | p. 157 |
Water and Sewerage: Output and Coverage Summary | p. 157 |
Number of Connections | p. 159 |
Water Production | p. 159 |
Coverage | p. 161 |
Impact on Employment | p. 165 |
Water and Sewerage: Employment Summary | p. 165 |
Impact on Labor Productivity and Efficiency | p. 166 |
Water and Sewerage: Labor Productivity and Efficiency Summary | p. 166 |
Labor Productivity | p. 166 |
Distributional Losses | p. 171 |
Impact on Prices | p. 173 |
Water and Sewerage: Price Summary | p. 173 |
Impact on Quality | p. 176 |
Water and Sewerage: Quality Summary | p. 176 |
Service Continuity | p. 178 |
Potability | p. 178 |
Conclusion | p. 180 |
An Assessment of the Electricity Distribution Performance of Private and Public Utilities | p. 185 |
Introduction | p. 185 |
Main Findings | p. 186 |
Coverage | p. 187 |
Output | p. 187 |
Labor Productivity | p. 187 |
Operating Performance | p. 190 |
Tariffs | p. 190 |
Quality of Service | p. 195 |
Top 10 Percent and Bottom 10 Percent Performers | p. 199 |
Output | p. 199 |
Labor Productivity | p. 199 |
Operating Performance | p. 203 |
Quality of Service | p. 203 |
Conclusion | p. 203 |
Determinants of Impact: Regulatory and Contract Variables | p. 207 |
Introduction | p. 207 |
Sale Method | p. 209 |
Autonomy of Regulatory Body | p. 211 |
Duration of Regulatory Body Appointments | p. 212 |
Investor Nationality | p. 214 |
Award Criteria | p. 215 |
Tariff Regulation | p. 218 |
Conclusion | p. 219 |
Conclusion | p. 223 |
Key Methodological Contributions | p. 223 |
Main Findings | p. 224 |
Moving Forward | p. 228 |
Critical Elements to Be Introduced in Moving Forward to Secure Success and Maximum Benefit of Private Participation Programs | p. 233 |
Improved Institutionality | p. 233 |
Improved Contract and Concession Design | p. 233 |
Regulatory Framework | p. 235 |
Regulatory Instruments | p. 235 |
Conflict Resolution Mechanism | p. 236 |
Addressing Social Issues | p. 236 |
Transparency and Communications | p. 236 |
Evaluation and Monitoring | p. 236 |
Appendixes | |
Existing Literature | p. 239 |
Details of Econometric Approach | p. 253 |
Adding Contract and Regulatory Characteristics | p. 255 |
Estimation | p. 256 |
Endogeneity | p. 257 |
Detailed Results of Empirical Analysis | p. 259 |
Summary of Power Market Reforms in Latin America and the Caribbean | p. 303 |
Utility Companies | p. 315 |
Bibliography | p. 321 |
Index | p. 329 |
Boxes | |
Hidden Failures and Perception Management: Explanations for Social Discontent about Privatization | p. 36 |
Public Perceptions of Infrastructure Privatization in Peru | p. 38 |
A Failed Electricity Privatization in Peru | p. 89 |
Figures | |
Growth Improvement if Infrastructure Stocks and Quality Improved to Costa Rican Levels | p. 8 |
Logistics Costs as a Percentage of Product Value, 2004 | p. 9 |
The Rise and Fall of Private Finance for Infrastructure | p. 11 |
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