Infrastructure Policy: Basic Design Options
46 Pages Posted: 20 Apr 2016
Date Written: November 1, 2012
Abstract
The paper lays out basic design options for infrastructure policy. It first sketches mechanisms to asses demand. Then it sets out a hierarchy of issues starting with choice of market structure followed by conduct regulation. Ownership options are largely a function of market structure choices. The implications for finance -- the topic of much day-to-day discussion in infrastructure policy-making -- follow from these various prior choices. The discussion naturally circumscribes the role for so-called public-private partnerships -- their uses and pitfalls. Annexes provide checklists for choices of market structure and for diagnosing and benchmarking policies.
Keywords: Markets and Market Access, Economic Theory & Research, Emerging Markets, Infrastructure Economics, Debt Markets
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