Infrastructure finance in Europe: Composition, evolution and crisis impact
AbstractThis article is the first attempt to compile comprehensive data on infrastructure finance in Europe. We decompose infrastructure finance by institutional sector (i.e. public versus private) into its main components, which consist of traditional public procurement, project finance and finance by the corporate sector, and analyse how the roles of the public and private sectors in financing infrastructure have evolved over time, especially during the recent economic and financial crisis. In contrast with government finance that is slightly up, private finance, in particular project finance through Publi-Private Partnerships, has fallen substantially during the recent crisis, reversing, at least temporarily, the longer-term trend of more private and less public financing of infrastructure.
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Bibliographic InfoPaper provided by European Investment Bank, Economics Department in its series EIB Papers with number 1/2010.
Length: 24 pages
Date of creation: 17 Dec 2010
Date of revision:
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Infrastructure investment; Public-Private Partnerships; Project finance; Crisis impact;
Find related papers by JEL classification:
- G20 - Financial Economics - - Financial Institutions and Services - - - General
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- L32 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Enterprises; Public-Private Enterprises
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-05 (All new papers)
- NEP-EUR-2011-02-05 (Microeconomic European Issues)
- NEP-PPM-2011-02-05 (Project, Program & Portfolio Management)
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