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The capacity to spend development funds in the energy sector

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  • Gualberti, Giorgio
  • Singer, Christine Eibs
  • Bazilian, Morgan
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    Abstract

    Meeting the goal of universal access to modern energy services by 2030 will require dramatically increasing, as well as re-orienting, the current flows of energy investments in developing countries. While the mobilization of such capital is consistently presented as a major challenge, other issues such as the predictability and volatility of financing flows and absorption capacity will also play a crucial role. This paper examines the issues of predictability and absorption of development finance in the context of the U.N. Sustainable Energy for All initiative, by presenting analysis of the critical points that could limit the effectiveness of committed and future funds. In doing so, we also present analysis of the predictability of the financial assistance for the energy sector and how it relates to the funding in other sectors. We observe that the energy sector is characterized by lower than average disbursement rates, with considerable variability between countries, and is well correlated with government effectiveness figures and the disbursements rates of other sectors.

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    Bibliographic Info

    Article provided by Elsevier in its journal Utilities Policy.

    Volume (Year): 26 (2013)
    Issue (Month): C ()
    Pages: 36-44

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    Handle: RePEc:eee:juipol:v:26:y:2013:i:c:p:36-44

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    Web page: http://www.elsevier.com/locate/inca/30478

    Related research

    Keywords: Energy poverty; Aid effectiveness; Investment absorption; Energy financing;

    References

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    1. Giorgio Gualberti & Morgan Bazilian & Erik Haites & Maria da Graça Carvalho, 2012. "Development Finance for Universal Energy Access," Working Papers 2012.12, Fondazione Eni Enrico Mattei.
    2. van Ruijven, Bas J. & Schers, Jules & van Vuuren, Detlef P., 2012. "Model-based scenarios for rural electrification in developing countries," Energy, Elsevier, vol. 38(1), pages 386-397.
    3. John Hudson & Paul Mosley, 2007. "Aid Volatility, Policy and Development," Working Papers 2007015, The University of Sheffield, Department of Economics, revised Oct 2007.
    4. Knack, Stephen & Rogers, F. Halsey & Eubank, Nicholas, 2011. "Aid Quality and Donor Rankings," World Development, Elsevier, vol. 39(11), pages 1907-1917.
    5. Feeny, Simon & de Silva, Ashton, 2012. "Measuring absorptive capacity constraints to foreign aid," Economic Modelling, Elsevier, vol. 29(3), pages 725-733.
    6. Bulír, Ales & Hamann, A. Javier, 2008. "Volatility of Development Aid: From the Frying Pan into the Fire?," World Development, Elsevier, vol. 36(10), pages 2048-2066, October.
    7. Oya Celasun & Jan Walliser, 2008. "Predictability of aid: Do fickle donors undermine aid effectiveness?," Economic Policy, CEPR & CES & MSH, vol. 23, pages 545-594, 07.
    8. Giorgio Gualberti & Luis Filipe Martins & Morgan Bazilian, 2012. "An Econometric Analysis of the Effectiveness of Development Finance for the Energy Sector," Working Papers 2012.100, Fondazione Eni Enrico Mattei.
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