Significant economic research on infrastructure also comes from major international. Although the link between improved infrastructure services and economic growth is uncertain, it is clear that reforms aimed at creating competition and regulating natural monopolies establish an environment conducive to private sector participation, incentives for companies to strive for efficiency savings that can ultimately be passed on to consumers, and greater provision of. Antonio estache introduction to the economics of public. Published and unpublished research over this period yields a snapshot of the main dimensions of the sector and examines the. Fiscal policy, distribution, and the middle class antonio estache and danny leipziger 1 1. Quarterly journal of economics also provide fair coverage of emerging issues in developing countries, including in infrastructure. Evidence from odafinanced public procurement 2012, public finance. Published on behalf of the edgard milhaud foundation in collaboration with the international centre of research and information on the public, social and cooperative economy ciriec more from this journal. He has worked as a consultant for the independent pricing and regulatory tribunal of new south wales, the water services association of australia, and the queensland water reform unit. Winners and losers from the privatization and regulation of. Journal of public economics vol 157, pages 1226 january.
Strategic decentralization and the provision of global public goods with cheng wan 6. Estache, antonio and goicoechea, ana, a research database on infrastructure economic. This is a much revised and updated version of an earlier paper. This sets the stage for a discussion on how productivity and efficiency measures have become both a goal and a tool in some of these sectors. Antonio estache, jeanjacques laffont, xinzhu zhang. Antonio estache is with the world bank institute, governance, regulation, and finance division and the european center for applied research in economics and statistics, brussels. The theory of economic regulation has advanced significantly over the last quartercentury.
Antonio estache and renaud foucart paris school of. If the higher than needed cost reflects rents extracted by a competent but corrupt politician, the issue is moral hazard. Antonio estache and renaud foucart paris school of economics. Published and unpublished research over this period yields a snapshot of the main dimensions of the sector and examines the linkages between infrastructure and growth, the relevance of infrastructure reform. Downsizing with labor sharing and collusion journal of development economics, 2004, 73, 2, 519540 view citations 1 see also working paper 2004 limits to competition in urban bus services in developing countries.
Antonio estache governments and donors have learned many key lessons about infrastructure and development over the past 15 years. The comprehensive coverage includes topics such as the relationship between transport and the spatial economy, recent advances in travel demand analysis, the external costs of transport, investment appraisal, pricing, equity issues, competition and regulation, the role of public private partnerships and the development of policy in local bus. When ppps are desirable because the private sector is more efficient, the contract that optimally trades demand risk, userfee distortions and the opportunity cost of public funds is characterized by a minimum revenue guarantee and a cap on the firms revenues. When public sector services costs more than they should, it is hard for voters to know if it is due to. We thank christopher adam, jeanfrancois brun, antonio estache, robert. This is a traditional question of public economics. The comprehensive coverage includes topics such as the relationship between transport and the spatial economy, recent advances in travel demand analysis, the external costs of transport, investment appraisal, pricing, equity issues, competition and regulation, the role of publicprivate partnerships and the development of policy in local bus.
Measurement of efficiency in south america with antonio estache and christian ruzzier, journal of regulatory economics 25 3, 271295, 2004. His research interests are in empirical auction theory, public. Winners and losers from the privatization and regulation. Limits to competition in urban bus services in developing. His research areas are public economics, contract theory and regulation. For useful comments and discussions at different stages of this long.
Privatization and regulation of transport infrastructure in. Estache 2009, notes on equity issues in the regulation of monopolies. Journal of public economics vol 90, issues 67, pages 959. Library of congress cataloginginpublication data decentralizing infrastructure. Public economics has a long history as a discipline within economics and many eminent economists have written on the subject. A survey of impact evaluations of infrastructure projects, programs and policies antonio estache 1 february 2010 revised march 2010 1. Suggested citation estache, antonio and fay, marianne, current debates on infrastructure policy november 1, 2007. Politics, transaction costs, and the design of regulatory. Towards a theory of regulation for developing countries. European centre for advanced research in economics and statistics. Zantman, and seminar participants at esnie ajaccio. Economie publique ii economics of regulation econd421.
Journal of public economics, 2006, 90, 67, 11551179 view citations 9 see also working paper 2006 2005. Antonio estache 1 the world bank infrastructure vicepresidency, and poverty reduction and economic management vicepresidency april 2006 version 2. Benefits from efficient public infrastructure procurement 11 3. The basic public finance of publicprivate partnerships. Updating infrastructure regulation for the 21st century in latin america and the caribbean antonio estache, tomas serebrisky. Antonio estache atsushi iimi the world bank finance, economics and urban development department economics unit july 2008 wps4660 public disclosure authorized public disclosure authorized public disclosure authorized public disclosure authorized. Infrastructure and poverty in subsaharan africa analyzes the extent to which, how, and how fast the infrastructure needs of the poor have been met in subsaharan africa. Antonio estache and atsushi iimi antonio estache, ph.
Insights from tunisias new democracy, annals of public and cooperative economics 2019 with m. For the past 20 years, he has advised governments in africa, asia, and latin. A survey of impact evaluation of infrastructure projects. Current debates on infrastructure policy by antonio estache. Antonio estache 1 february 2010 revised march 2010 1. The experience of brazil federal railway november 30, 1999. Privatization and regulation of transport infrastructure. Poverty reduction and economic management vicepresidency. Atsushi iimi, phd, is senior economist of finance, economics and urban development department, the world bank. This acclaimed book by antonio estache is available at in several formats for your ereader. Review of network economics, 2005, 4, 3, 123 view citations 6 see also working paper 2005 2004.
What does all this mean for project finance in transport. Estache, antonio and fay, marianne, current debates on infrastructure. Infrastructure performance and reform in developing and transition economies. He specializes in industrial organization and public sector economics. Infrastructure economicsgovernment policycaribbean area. When public sector services costs more than they should, it is hard for voters to know if it is due to the corruption, to the incompetence or simply to the bad luck of the politician running the procurement process. Contents about the authors iv foreword xiii acknowledgements xv 1. Current debates on infrastructure policy by antonio. Fiscal policy, distribution, and the middle class brookings institution. The large vol ume of experimental lite rature in labor, health.
Estache and wodon explore the extent to which some key policies have hurt or helped progress in trying to speed the expansions of coverage so clearly needed in the region. The economics of public infrastructure procurement in. The chapter argues that, under current management and reform strategies, subsaharan africa is still lagging in coverage and unlikely to reach the universal water access and adequate sanitation targets promised by the sustainable development goals set in 2016. Infrastructure has particular challenges in public procurement, because it is highly complex and customized and often requires economic, political. Fourati, the scope and limits of accounting and judicial courts intervention in inefficient public procurement, journal of public economics 2018, vol. Department of economics, university of chile, santiago, chile. Federalism in the european community and the united states, 94 colum.
Estache and goicoechea present an infrastructure database that was assembled from multiple sources. Journal of public economics vol 90, issues 67, pages. Infrastructure and employment creation in the middle east and. Transport research centre estimation and evaluation of transport costs cost data for the construction and operation of facilities are essential for the evaluation. Infrastructure finance in developing countries econstor. Emerging infrastructure policy issues in developing countries. Introduction 2 since the mid2000s, the interest in analytically robust evaluations of the impact of projects, programs or policies has exploded among development academics and field workers. The effect of uniform pricing on infrastructure access. Infrastructure economics government policylatin america.
Labor redundancy, retraining, and outplacement during. Emerging infrastructure policy issues in developing. The economics of public infrastructure procurement. Infrastructure and employment creation in the middle east. Public private partnerships ppps cannot be justified because they free public funds. Antonio estache is senior public finance economist in the infrastructure operations division country department i of the world banks latin american and the caribbean regional office. A survey of infrastructure impact evaluations march 2010. Abstract pdf 1mb cited by march 1999 providing a realistic framework for assessing the efficiency of government intervention requires viewing the government not as a monolithic entity but as a number of different government bodies, each with its own constituencies and regulatory tools. The main difficulty lies in how best to regulate the considerable market power enjoyed by private agents in order to ensure the proper allocation of risks between.
His research areas are public economics, contract theory, and regulation. Updating infrastructure regulation for the 21st century in. Antonio estache is an economic advisor at the world bank and a research. Publications welcome to the website of antonio estache. The region has experience in making, isbn 97808296650.
The chapter also presents an extensive overview of case studies both across industries and countries. Infrastructure economics government policycaribbean area. How different is the efficiency of public and private. Stuck in the middle examines both economic and social public policy initiatives in its assertion that enhancing the welfare of people in developed and developing nations requires an explicit focus on the middle class. Providing a more complete framework for assessing the efficiency of government intervention requires moving away from the idealistic perspective typically found in the normative approach to traditional public economics, contend estache and martimort. Financing infrastructure in developing countries, postprint halshs01245625, hal.