1 option
Procurement in Infrastructure : What Does Theory Tell Us? / Estache, Antonio
World Bank Open Knowledge Repository (formerly "World Bank E-Library Publications") Available online
View online- Format:
- Book
- Government document
- Author/Creator:
- Estache, Antonio
- Series:
- Policy research working papers.
- World Bank e-Library.
- Language:
- English
- Subjects (All):
- Banks and Banking Reform.
- Contract Law.
- Debt Markets.
- Electricity.
- Finance and Financial Sector Development.
- Government Procurement.
- Infrastructure Economics.
- Infrastructure Economics and Finance.
- Investment and Investment Climate.
- Labor Policies.
- Law and Development.
- Macroeconomics and Economic Growth.
- Positive externalities.
- Private partnerships.
- Private sector.
- Private sector participation.
- Property rights.
- Provision of infrastructure.
- Provisions.
- Public.
- Public contracts.
- Public economics.
- Public goods.
- Public infrastructure.
- Public ownership.
- Public private partnerships.
- Public procurement.
- Public Sector Corruption and Anticorruption Measures.
- Public Sector Economics and Finance.
- Public works.
- Savings.
- Social Protections and Labor.
- Social welfare.
- Transport.
- Transport Economics, Policy and Planning.
- Utilities.
- Local Subjects:
- Banks and Banking Reform.
- Contract Law.
- Debt Markets.
- Electricity.
- Finance and Financial Sector Development.
- Government Procurement.
- Infrastructure Economics.
- Infrastructure Economics and Finance.
- Investment and Investment Climate.
- Labor Policies.
- Law and Development.
- Macroeconomics and Economic Growth.
- Positive externalities.
- Private partnerships.
- Private sector.
- Private sector participation.
- Property rights.
- Provision of infrastructure.
- Provisions.
- Public.
- Public contracts.
- Public economics.
- Public goods.
- Public infrastructure.
- Public ownership.
- Public private partnerships.
- Public procurement.
- Public Sector Corruption and Anticorruption Measures.
- Public Sector Economics and Finance.
- Public works.
- Savings.
- Social Protections and Labor.
- Social welfare.
- Transport.
- Transport Economics, Policy and Planning.
- Utilities.
- Physical Description:
- 1 online resource (40 pages)
- Place of Publication:
- Washington, D.C., The World Bank, 2009
- System Details:
- data file
- Summary:
- Infrastructure has particular challenges in public procurement, because it is highly complex and customized and often requires economic, political and social considerations from a long time horizon. To deliver public infrastructure services to citizens or taxpayers, there are a series of decisions that governments have to make. The paper provides a minimum package of important economic theories that could guide governments to wise decision-making at each stage. Theory suggests that in general it would be a good option to contract out infrastructure to the private sector under high-powered incentive mechanisms, such as fixed-price contracts. However, this holds under certain conditions. Theory also shows that ownership should be aligned with the ultimate responsibility for or objective of infrastructure provision. Public and private ownership have different advantages and can deal with different problems. It is also shown that it would be a better option to integrate more than one public task (for example, investment and operation) into the same ownership, whether public or private, if they exhibit positive externalities.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.