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The handshake : why do governments and firms sign private sector participation deals ? Evidence from the water and sanitation sector in developing countries

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  • Jensen, Olivia
  • Blanc-Brude, Frederic
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    Abstract

    This paper uses a new dataset,"WATSAN,"of private sector participation(PSP) projects for water and sanitation in developing countries to examine the determinants of the number of projects signed for each country between 1990 and 2004. The new dataset improves on existing sources, in particular in its coverage of projects with local investors, and provides adequate data for cross-country regression analysis. The authors use a negative binomial regression model to investigate the factors influencing the number of PSP projects in a sample of 60 developing countries with 460 PSP projects. The regression results provide support for the hypotheses that PSP is greater in larger markets where the ability to pay is higher and where governments are fiscally constrained. The authors test several indicators of institutional quality and find that these are generally significant in determining the number of projects signed for each country. Measures of the protection of property rights and the quality of the bureaucracy emerge as the most important institutions that encourage PSP. Rule of law and the control of corruption are significant, albeit at a lower level, while the quality of contract law and political stability are not robustly significant.

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    Bibliographic Info

    Paper provided by The World Bank in its series Policy Research Working Paper Series with number 3937.

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    Date of creation: 01 Jun 2006
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    Handle: RePEc:wbk:wbrwps:3937

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    Keywords: Private Participation in Infrastructure; Town Water Supply and Sanitation; Investment and Investment Climate; Infrastructure Regulation; Water Supply and Sanitation Governance and Institutions;

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    1. Estache, Antonio & Pinglo, Maria Elena, 2004. "Are returns to private infrastructure in developing countries consistent with risks since the Asian crisis?," Policy Research Working Paper Series 3373, The World Bank.
    2. Alcazar, Lorena & Abdala, Manuel A. & Shirley, Mary M., 2000. "The Buenos Aires water concession," Policy Research Working Paper Series 2311, The World Bank.
    3. Antonio Estache, 2006. "PPI Partnerships vs. PPI Divorces in LDCs," Review of Industrial Organization, Springer, vol. 29(1), pages 3-26, September.
    4. Witold J. Henisz, 2002. "The institutional environment for infrastructure investment," Industrial and Corporate Change, Oxford University Press, vol. 11(2), pages 355-389.
    5. J. Luis Guasch, 2004. "Granting and Renegotiating Infrastructure Concessions : Doing it Right," World Bank Publications, The World Bank, number 15024, October.
    6. Henisz, Witold J. & Zelner, Bennet A., 2005. "Resistance to multilateral influence on reform : the political backlash against private infrastructure investments," Policy Research Working Paper Series 3690, The World Bank.
    7. Roberto Rigobon & Dani Rodrik, 2004. "Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships," NBER Working Papers 10750, National Bureau of Economic Research, Inc.
    8. Witold J. Henisz & Bennet A. Zelner, 2001. "The Institutional Environment for Telecommunications Investment," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 10(1), pages 123-147, 03.
    9. Menard, Claude & Clarke, George, 2000. "Reforming water supply in Abidjan, Cote d'Ivoire : mild reform in a turbulent environment," Policy Research Working Paper Series 2377, The World Bank.
    10. Menard, Claude & Clarke, George, 2000. "A transitory regime : water supply in Conakry, Guinea," Policy Research Working Paper Series 2362, The World Bank.
    11. R. Maria Saleth & Ariel Dinar, 2004. "The Institutional Economics of Water : A Cross-Country Analysis of Institutions and Performance," World Bank Publications, The World Bank, number 14884, October.
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