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Governance, funding and finance for major infrastructure projects: bridging the gaps

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  • Price, Richard

Abstract

The UK is embarking on a significant institutional reform to put long-term infrastructure planning on a firmer basis. The creation of the National Infrastructure Commission (NIC), building on experience in Australia and elsewhere, should help promote a better evidence-based discussion on the UK’s infrastructure needs and political choices, and to put infrastructure design and delivery on a surer footing. Interactions with the system of economic regulation need to be worked through, but the NIC will help governments to give a clearer statement of long-term policy within which regulators can operate and ensure projects are delivered efficiently. Funding and financing challenges however have yet to be fully addressed across the infrastructure planning and delivery chain – not just in the UK but globally. A number of initiatives are beginning to tackle this policy gap, and recent UK experience suggests ways in which projects can be brought to market in ways which secure private investment and secure the interests of consumers and taxpayers. There is a major opportunity to deliver better infrastructure efficiently if we can get this right.

Suggested Citation

  • Price, Richard, 2016. "Governance, funding and finance for major infrastructure projects: bridging the gaps," MPRA Paper 74977, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:74977
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    File URL: https://mpra.ub.uni-muenchen.de/74977/1/MPRA_paper_74977.pdf
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    References listed on IDEAS

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    1. Balazs Egert & Tomasz Kozluk & Douglas Sutherland, 2009. "Infrastructure and Growth: Empirical Evidence," CESifo Working Paper Series 2700, CESifo Group Munich.
    2. Athena Panayiotou & Francesca Medda, 2014. "Attracting private sector participation in infrastructure investment: the UK case," Public Money & Management, Taylor & Francis Journals, vol. 34(6), pages 425-431, November.
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    1. repec:rjr:romjef:v::y:2018:i:4:p:5-20 is not listed on IDEAS

    More about this item

    Keywords

    Infrastructure investment Finance Funding PPP economic regulation water energy policy government;

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General
    • O18 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure

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