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"Argentina's policy for reform of the transport sector has been a mix of competition in the market and, through concessions, for the market. Capacity has increased, demand has grown, and prices and services have improved. Public financing has not been eliminated but it has been drastically reduced"--Cover.
Book Synopsis Argentina's Transport Privatization and Re-regulation by : Antonio Estache
Download or read book Argentina's Transport Privatization and Re-regulation written by Antonio Estache and published by World Bank Publications. This book was released on 1999 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Argentina's policy for reform of the transport sector has been a mix of competition in the market and, through concessions, for the market. Capacity has increased, demand has grown, and prices and services have improved. Public financing has not been eliminated but it has been drastically reduced"--Cover.
Book Synopsis Argentina Transport Privatization and Regulation by : World Bank. Latin America and the Caribbean, Country Dept. I. Infrastructure and Urban Development Division
Download or read book Argentina Transport Privatization and Regulation written by World Bank. Latin America and the Caribbean, Country Dept. I. Infrastructure and Urban Development Division and published by . This book was released on 1996 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Argentina's policy for reform of the transport sector has been a mix of competition in the market and, through concessions, for the market. Capacity has increased, demand has grown, and prices and services have improved. Public financing has not been eliminated but it has been drastically reduced.When Argentina initiated reform of its transport sector in 1989, it had few models to follow. It was the first Latin American country to privatize its intercity railroad, to explicitly organize intraport competition, and to grant a private concession to operate its subway. It was second (after Japan) to privatize its urban commuter railways and one of the first in the developing world to grant road concessions to private operators.Argentina's experience shows that transport privatization and deregulation provide efficiency gains that can be delivered to users. Despite unexpectedly high residual subsidy requirements, fiscal costs are lower, services have improved, and new investment is taking place. Argentina's decade-long experience shows that the reform process involves learning by doing. Inexperienced new regulators quickly face the challenges in controlling monopoly power and providing long-run incentives for private investment. Designing sustainable reform requires a commitment by government to minimize its role in the sector and to respect its original promises to both users and concessionaires. Argentina has learned the importance of building up the regulatory capacity needed to monitor contracts, especially when initial uncertainty about demand and cost conditions is strong and renegotiation is the probable outcome of daring reform.The government's main challenge in monitoring contracts is to get enough information to reach a balance in its decisions about distributing efficiency gains fairly between consumers and private investors. This is one area in which Argentina may not yet have met the challenge. As the last wave of contract extensions in rail and roads comes to an end, one issue is likely to be the need for better targeting of subsidies for the poor.This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation.
Book Synopsis Argentina's Transport Privatization and Re-Regulation by : Antonio Estache
Download or read book Argentina's Transport Privatization and Re-Regulation written by Antonio Estache and published by . This book was released on 2016 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Argentina's policy for reform of the transport sector has been a mix of competition in the market and, through concessions, for the market. Capacity has increased, demand has grown, and prices and services have improved. Public financing has not been eliminated but it has been drastically reduced.When Argentina initiated reform of its transport sector in 1989, it had few models to follow. It was the first Latin American country to privatize its intercity railroad, to explicitly organize intraport competition, and to grant a private concession to operate its subway. It was second (after Japan) to privatize its urban commuter railways and one of the first in the developing world to grant road concessions to private operators.Argentina's experience shows that transport privatization and deregulation provide efficiency gains that can be delivered to users. Despite unexpectedly high residual subsidy requirements, fiscal costs are lower, services have improved, and new investment is taking place. Argentina's decade-long experience shows that the reform process involves learning by doing. Inexperienced new regulators quickly face the challenges in controlling monopoly power and providing long-run incentives for private investment. Designing sustainable reform requires a commitment by government to minimize its role in the sector and to respect its original promises to both users and concessionaires. Argentina has learned the importance of building up the regulatory capacity needed to monitor contracts, especially when initial uncertainty about demand and cost conditions is strong and renegotiation is the probable outcome of daring reform.The government's main challenge in monitoring contracts is to get enough information to reach a balance in its decisions about distributing efficiency gains fairly between consumers and private investors. This is one area in which Argentina may not yet have met the challenge. As the last wave of contract extensions in rail and roads comes to an end, one issue is likely to be the need for better targeting of subsidies for the poor.This paper - a product of Governance, Regulation, and Finance, World Bank Institute - is part of a larger effort in the institute to increase understanding of infrastructure regulation.
The 1990s saw an increase in the liberalisation of transport policies and a strengthening of the role of private operators and investors in transport infrastructure worldwide. The search for sustained improvement in efficiency is probably secondary to the need to find additional financing, but it is improvement in services that is at the core of the new role of the government in transport. Governments must now become fair economic regulators of many of the privately operated transport services and infrastructures. This book examines the major challenges that governments are likely to face in taking on their new role in transport.
Book Synopsis Privatization and Regulation of Transport Infrastructure by : Antonio Estache
Download or read book Privatization and Regulation of Transport Infrastructure written by Antonio Estache and published by World Bank Publications. This book was released on 2000-01-01 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1990s saw an increase in the liberalisation of transport policies and a strengthening of the role of private operators and investors in transport infrastructure worldwide. The search for sustained improvement in efficiency is probably secondary to the need to find additional financing, but it is improvement in services that is at the core of the new role of the government in transport. Governments must now become fair economic regulators of many of the privately operated transport services and infrastructures. This book examines the major challenges that governments are likely to face in taking on their new role in transport.
Book Synopsis Argentina : Transport Privatization and Regulation : the Next Wave of Challenges by : World Bank. Latin America and the Caribbean Regional Office. Infrastructure Operations Division
Download or read book Argentina : Transport Privatization and Regulation : the Next Wave of Challenges written by World Bank. Latin America and the Caribbean Regional Office. Infrastructure Operations Division and published by . This book was released on 1996 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Argentina's Transport Privatization and Re-gulation by : Antonio Estache
Download or read book Argentina's Transport Privatization and Re-gulation written by Antonio Estache and published by . This book was released on 1999 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:
"Learning to regulate fairly, effectively, and at arm's length may be the main challenge governments face in attracting private investment and financing to the transport sector"--Cover.
Book Synopsis Privatization and Regulation of Transport Infrastructure in the 1990s by : Antonio Estache
Download or read book Privatization and Regulation of Transport Infrastructure in the 1990s written by Antonio Estache and published by World Bank Publications. This book was released on 1999 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Learning to regulate fairly, effectively, and at arm's length may be the main challenge governments face in attracting private investment and financing to the transport sector"--Cover.
September 1997 The economic rates of return for utility privatization projects in Argentina are very high, whether or not distributional weights are considered. But there is a very high shadow price for regulatory activity, which tends to be ignored in most privatization exercises. And how serious a government is about the fair distribution of gains from reform is reflected in how serious it is about regulation. Chisari, Estache, and Romero assess the macroeconomic and distributional effects of the privatization that Argentina began in 1989 in gas, electricity, telecommunications, and water and sanitation. Using a computable general equilibrium model, they track the effects of the changes observed between 1993, the first year by which all the major privatizations had taken place, and 1995, the most recent year for which data are available. In an innovative use of the model, they also assess the importance of the regulator in determining the distribution of gains and losses from utility privatization among sectors and income groups. They conclude that when regulators are effective, the annual gains from the private operation of utilities are about $3.3 billion, or 1.25 percent of GDP, and that all income classes benefit. Ineffective regulation cuts the gains from the reform by $1 billion or 0.35 percent of GDP. This cut in gains represents an implicit tax of 16 percent on the average consumer, paid directly to the owner of the utility rather than to the government. For the poorest income classes, this implicit tax is about 20 percent, meaning that good regulation is in the interest of the poor. The authors also show that the privatization of utilities cannot be blamed for the significant increase in unemployment observed in Argentina since 1993. Effective regulation can lead to a decline in unemployment, and ineffective regulation leads to only a small increase in unemployment. But the gains from utility privatization were not sufficient to offset the negative efficiency and distributional impact on the economy of the Tequila effect, which increased unemployment dramatically by limiting access to credit for users and producers alike. This paper-a product of the Regulatory Reform and Private Enterprise Division, Economic Development Institute-is part of a larger effort in the institute to understand the importance of effective infrastructure regulation. The study was funded by the Bank's Research Support Budget under the research project Efficiency and Equity Implications of Argentina's Privatization of Infrastructure Services (RPO 680-85).
Book Synopsis Winners and Losers from Utility Privatization in Argentina: Lessons from a General Equilibrium Model by : Antonio Estache
Download or read book Winners and Losers from Utility Privatization in Argentina: Lessons from a General Equilibrium Model written by Antonio Estache and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: September 1997 The economic rates of return for utility privatization projects in Argentina are very high, whether or not distributional weights are considered. But there is a very high shadow price for regulatory activity, which tends to be ignored in most privatization exercises. And how serious a government is about the fair distribution of gains from reform is reflected in how serious it is about regulation. Chisari, Estache, and Romero assess the macroeconomic and distributional effects of the privatization that Argentina began in 1989 in gas, electricity, telecommunications, and water and sanitation. Using a computable general equilibrium model, they track the effects of the changes observed between 1993, the first year by which all the major privatizations had taken place, and 1995, the most recent year for which data are available. In an innovative use of the model, they also assess the importance of the regulator in determining the distribution of gains and losses from utility privatization among sectors and income groups. They conclude that when regulators are effective, the annual gains from the private operation of utilities are about $3.3 billion, or 1.25 percent of GDP, and that all income classes benefit. Ineffective regulation cuts the gains from the reform by $1 billion or 0.35 percent of GDP. This cut in gains represents an implicit tax of 16 percent on the average consumer, paid directly to the owner of the utility rather than to the government. For the poorest income classes, this implicit tax is about 20 percent, meaning that good regulation is in the interest of the poor. The authors also show that the privatization of utilities cannot be blamed for the significant increase in unemployment observed in Argentina since 1993. Effective regulation can lead to a decline in unemployment, and ineffective regulation leads to only a small increase in unemployment. But the gains from utility privatization were not sufficient to offset the negative efficiency and distributional impact on the economy of the Tequila effect, which increased unemployment dramatically by limiting access to credit for users and producers alike. This paper-a product of the Regulatory Reform and Private Enterprise Division, Economic Development Institute-is part of a larger effort in the institute to understand the importance of effective infrastructure regulation. The study was funded by the Bank's Research Support Budget under the research project Efficiency and Equity Implications of Argentina's Privatization of Infrastructure Services (RPO 680-85).
This wide-ranging study of urban infrastructure “offers a series of fascinating arguments” in favor of market-oriented approaches to regulation (Times Higher Education Supplement). In the 1980s and ‘90s, many countries turned to the private sector to provide infrastructure and utilities—such as gas, telephones, and highways—with the idea that market-based incentives would control costs and improve the quality of essential services. But high-profile failures have since raised troubling questions about privatization. This book addresses one of the most vexing of these: how can government fairly and effectively regulate “natural monopolies”—those infrastructure and utility services whose technologies make competition impractical? Mapping out various approaches to regulation, José Gómez-Ibáñez draws on a wealth of case studies, as well as history, politics, and economics. He makes a strong case for favoring market-oriented and contractual approaches over those that grant more discretion to government regulators. He shows how contracts can provide stronger protection for infrastructure customers and suppliers—and greater opportunities to tailor services to their mutual advantage. At the same time, he highlights scenarios where alternative schemes may be needed.
Book Synopsis Regulating Infrastructure by : José A. Gómez-Ibáñez
Download or read book Regulating Infrastructure written by José A. Gómez-Ibáñez and published by Harvard University Press. This book was released on 2003-09-15 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: This wide-ranging study of urban infrastructure “offers a series of fascinating arguments” in favor of market-oriented approaches to regulation (Times Higher Education Supplement). In the 1980s and ‘90s, many countries turned to the private sector to provide infrastructure and utilities—such as gas, telephones, and highways—with the idea that market-based incentives would control costs and improve the quality of essential services. But high-profile failures have since raised troubling questions about privatization. This book addresses one of the most vexing of these: how can government fairly and effectively regulate “natural monopolies”—those infrastructure and utility services whose technologies make competition impractical? Mapping out various approaches to regulation, José Gómez-Ibáñez draws on a wealth of case studies, as well as history, politics, and economics. He makes a strong case for favoring market-oriented and contractual approaches over those that grant more discretion to government regulators. He shows how contracts can provide stronger protection for infrastructure customers and suppliers—and greater opportunities to tailor services to their mutual advantage. At the same time, he highlights scenarios where alternative schemes may be needed.
Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Book Synopsis Reforming Infrastructure by : Ioannis Nicolaos Kessides
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
