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The Impact of Private Sector Participation in Infrastructure: Lights, Shadows, and the Road Ahead
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The authors (all of the World Bank) conduct an econometric analysis of systemic, cross-country, and time-series data concerning private participation in the electricity, telecommunication, and water sectors in Latin America from the 1980s through the 2000s and assess performance against a constructed counter-factual scenario of what would have happened if there had been no privatization. They evaluate the determinants of privatization's impact in terms of the characteristics of the regulatory environment and private participation contracts. They find major benefits in public-private programs, including productivity gains, quality of service, and coverage but argue that benefits can be larger with better design and implementation, an appropriate institutional capacity, and an appropriate legal and regulatory framework. Annotation c2008 Book News, Inc., Portland, OR (booknews.com)
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