Government Guarantees: Allocating and Valuing Risk in Privately Financed Infrastructure Projects (Directions in Development) - Tapa blanda

Irwin, Timothy

 
9780821368589: Government Guarantees: Allocating and Valuing Risk in Privately Financed Infrastructure Projects (Directions in Development)
Tapa blanda
ISBN 10: 0821368583 ISBN 13: 9780821368589
Editorial: World Bank Publications, 2007

Sinopsis

Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments can be tempted to grant too many guarantees. Drawing on a diverse range of disciplines, including finance, history, economics, and psychology, Government Guarantees aims to help governments give guarantees only when they are justified. It reviews the history of government guarantees and identifies the cognitive and political obstacles to good decisions about guarantees. It then develops a framework for judging when governments should bear risk in an infrastructure project (seeking to make precise the oft-invoked principle that risks should be allocated to those best placed to manage them); explains how guarantees can be valued; and discusses how aspects of public-sector management can be modified to improve the likely quality of government decisions about guarantees. Although intended mainly for governments and those who advise them, the book may be of interest to others concerned about the problems of allocating and valuing exposure to risk. Similarly, although its focus is physical infrastructure, it may be relevant to people working on public-private partnerships in education, health, and other social services.

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Reseña del editor

Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments can be tempted to grant too many guarantees. Drawing on a diverse range of disciplines, including finance, history, economics, and psychology, Government Guarantees aims to help governments give guarantees only when they are justified. It reviews the history of government guarantees and identifies the cognitive and political obstacles to good decisions about guarantees. It then develops a framework for judging when governments should bear risk in an infrastructure project (seeking to make precise the oft-invoked principle that risks should be allocated to those best placed to manage them); explains how guarantees can be valued; and discusses how aspects of public-sector management can be modified to improve the likely quality of government decisions about guarantees. Although intended mainly for governments and those who advise them, the book may be of interest to others concerned about the problems of allocating and valuing exposure to risk. Similarly, although its focus is physical infrastructure, it may be relevant to people working on public-private partnerships in education, health, and other social services.

"Sobre este título" puede pertenecer a otra edición de este libro.

Editorial
World Bank Publications
Año de publicación
2007
Idioma
Inglés
ISBN 10 
0821368583
ISBN 13 
9780821368589
Encuadernación
Tapa blanda
Número de páginas
228
Contacto del fabricante
no disponible
Persona responsable
gpsr@libri.de
gpsr@libri.de

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