Infrastructure Finance : Critical Concepts in Finance book cover
1st Edition

Infrastructure Finance
Critical Concepts in Finance



ISBN 9781138905603
Published August 26, 2022 by Routledge
1656 Pages 172 B/W Illustrations

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Book Description

This new four volume collection gathers together the key literature from the field of Infrastructure Finance from the past 20 years. Organized thematically, and drawing on a range of disciplines, the collection will discuss economic principles and policy, explore project financing, public-private partnership policy and finance, and examine infrastructure as an asset class.

Table of Contents

Infrastructure Finance: Critical Concepts in Finance

Edited by Tehreem Husain and D’Maris Coffman

Volume I: Economic Principles and Policy

Acknowledgments

Chronological Table of Articles

Preface

Volume I Introduction

1. Pierre Richard Agénor and Blanca Moreno-Dodson, ‘Public Infrastructure and Growth: New Channels and Policy Implications’, Policy Research Working Paper, 4046, Washington D.C.: World Bank Publications, 2006.

2. Pierre Richard Agénor, ‘Fiscal Policy and Endogenous Growth with Public Infrastructure’, Oxford Economic Papers 60, 1, 2008, 57–87.

3. Pierre Richard Agénor, ‘Theory of Infrastructure-Led Development’, Journal of Economic Dynamics and Control 34, 5, 2010, 932–950.

4. Robert J, Bianchi, Graham Bornholt, Michael E Drew and Michael F. Howard, ‘Long-Term US Infrastructure Returns and Portfolio Selection." Journal of Banking & Finance 42, 5, 2014, 314–325.

5. Josh Bivens, ‘The Short- and Long-Term Impact of Infrastructure Investments on Employment and Economic Activity in the U.S. Economy’, Economic Policy Institute Briefing Paper, 374, Washington D.C., 2014.

6. Cecilia Briceno-Garmendia, Antonio Estache and Nemat Shafik, ‘Infrastructure Services in Developing Countries: Access, Quality, Costs, and Policy Reform’, Policy Research Working Paper 3468, Washington D.C.: World Bank Publications, 2004.

7. Javier Campos, Antonio Estache, Noelia Martin and Lourdes Trujillo, ‘Macroeconomic Effects of Private Participation in Infrastructure’, in William Easterly and Serven Luis (eds), The Limits of Stabilization : Infrastructure, Public Deficits, and Growth in Latin America, Latin American Development Forum Series (Palo Alto, Calif. ;Washington, D.C.: Stanford University Press; World Bank, 2003), pp. 139-170

8. David Canning, ‘The Contribution of Infrastructure to Aggregate Output’, Policy Research Working Paper 2246, Washington D.C.: World Bank Publications, 1999.

9. David Canning and Peter Pedroni. ‘Infrastructure, Long-Run Economic Growth And Causality Tests For Cointegrated Panels’, The Manchester School 76, 5, 2008, 504–527.

10. Diana G. Carew and Michael Mandel, ‘Infrastructure Investment and Economic Growth: Surveying New Post-Crisis Evidence’, Washington D.C. http://www.progressivepolicy.org/wp-content/uploads/2014/03/2014.03-Carew, 2014.

11. Kohei Daido and Ken Tabata, ‘Public Infrastructure, Production Organization, and Economic Development’, Journal of Macroeconomics 38, B, 2013, 330–346.

12. Edward M. Gramlich, ‘Infrastructure Investment: A Review Essay’, Journal of Economic Literature 32, 3, 1994, 1176–1196.

13. Richard H. Mattoon, ‘Infrastructure and State Economic Development: A Survey of the Issues (I-G)’, in Economic Conference 2004 - Emerging Challenges: New Insights on the Economy and Society; Statistics Canada (Ottawa: Government of Canada Publications, 2004), pp. 1-14.

14. Siddhartha Menon, ‘The Evolution of the Policy Objectives of South Korea’s Broadband Convergence Network from 2004 to 2007’, Government Information Quarterly 28, 2, 2011, 280–289.

15. Alicia H. Munnell, ‘Policy Watch: Infrastructure Investment and Economic Growth’, The Journal of Economic Perspectives 6, 4, 1992, 189–198.

16. Rudra P. Pradhan and Tapan P. Bagchi, ‘Effect of Transportation Infrastructure on Economic Growth in India: The VECM Approach’, Research in Transportation Economics 38, 1, 2013, 139–148.

17. Rao, P Srinivasa, and B Srinivasu, ‘Infrastructure Development and Economic Growth: Prospects and Perspective’, Journal Of Business Management & Social Sciences Research 2, 1, 2013, 81–91.

18. Pravakar Sahoo, Ranjan Kumar Dash and Geethanjali Nataraj, ‘Infrastructure Development and Economic Growth in China’, Order 1, 2010, 1–20.

 

Volume II: Project Financing

Acknowledgments

Volume II Introduction

19. Charles D. Jacobson and Joel A. Tarr, ‘Ownership and Financing of Infrastructure: Historical Perspectives’, Policy Research Working Paper 1466, Washington D.C.: World Bank Publications, 1995.

20. Kwang-Suk Lee, ‘A Final Flowering of the Developmental State: The IT Policy Experiment of the Korean Information Infrastructure, 1995–2005’, Government Information Quarterly 26, 4, 2009, 567–576.

21. A. Ng and Martin Loosemore, ‘Risk Allocation in the Private Provision of Public Infrastructure’, International Journal of Project Management 25, 1, 2007, 66–76.

22. Emily Poole, Carl Toohey and Peter Harris, ‘Public Infrastructure: A Framework for Decision-Making’, in RBA Financial Conference (Sydney: Reserve Bank of Australia, 2014)

23. Mansoor Dailami and Danny Leipziger, ‘Infrastructure Project Finance and Capital Flows: A New Perspective’, World Development 26, 7, 1998, pp. 1283-1298.

24. Jonathan P. Doh and Ravi Ramamurti, ‘Reassessing Risk in Developing Country Infrastructure’, Long Range Planning 36, 4, 2003, 337–353.

25. Sarita Bahl, ‘Emerging Risks in Securitization of Infrastructure and Other Project Financing’, Asia Pacific Journal of Marketing & Management Review 1, 2, 2012, 211–224.

26. Franco Bassanini, Gino Del Bufalo and Edoardo Reviglio, ‘Financing Infrastructure in Europe Project Bonds, Solvency II and the "Connecting Europe" Facility’, in Eurofi Financial Forum Wroclaw, 2011.

27. Josephine Gemson, K. V. Gautami and A. Thillai Rajan, ‘Impact of Private Equity Investments in Infrastructure Projects’, Utilities Policy 21, C, 2012, 59–65.

28. Andrew D. Cao, Karim Solh and Heidi Anderson, ‘Infrastructure Project Financing in Asia. Lesson Learned’, http://pdf.usaid.gov/pdf_docs/PNACC396.pdf, 1993.

29. M. M. Kumaraswamy and X. Q. Zhang, ‘Governmental Role in BOT-Led Infrastructure Development’, International Journal of Project Management 19, 4, 2001, 195–205.

30. C. M. Tam, ‘Build-Operate-Transfer Model for Infrastructure Developments in Asia: Reasons for Successes and Failures’, International Journal of Project Management 17, 6, 1999, 377–382.

31. I. Y. Mohammed and Y.Y. Babanyara, ‘The Role of Government in BOT - Led Infrastructure Development: A Lesson for Nigeria’, Journal of Environmental Management and Safety 3, 6, 2012, 97–119.

32. Feng Guo, Yan Chang-Richards, Suzanne Wilkinson and Ti Cun Li, ‘Effects of Project Governance Structures on the Management of Risks in Major Infrastructure Projects: A Comparative Analysis’, International Journal of Project Management 32, 5, 2014, 815–826.

33. Seung H. Han, James E. Diekmann and Jong H. Ock, ‘Contractor’s Risk Attitudes in the Selection of International Construction Projects’, Journal of Construction Engineering and Management 131, 3, 2005, 283–292.

34. Antonio Estache, ‘Infrastructure Finance in Developing Countries: An Overview’, EIB Papers 15, 2, 2010, 60–88.

 

Volume III: Public-Private Partnership Policy and Finance

Acknowledgements

Volume III Introduction

35. Jui-Sheng Chou, H. Ping Tserng, Chieh Lin and Chun-Pin Yeh, ‘Critical Factors and Risk Allocation for PPP Policy: Comparison between HSR and General Infrastructure Projects." Transport Policy 22, C, 2012, 36–48.

36. Jui-Sheng Chou, H. Ping Tserng, Chieh Lin and Wen-Haw Huang, ‘Strategic Governance for Modeling Institutional Framework of Public–private Partnerships’, Cities 42, B, 2015, 204-211.

37. Mathias Dewatripont and Patrick Legros, ‘Public-Private Partnerships: Contract Design and Risk Transfer’, EIB Papers 10, 1, 2005, 120–145.

38. Nora M. El-Gohary, Hesham Osman and Tamer E. El-Diraby, ‘Stakeholder Management for Public Private Partnerships’, International Journal of Project Management 24, 7, 2006, 595–604.

39. Austen D. Givens and Nathan E. Busch, ‘Realizing the Promise of Public-Private Partnerships in US Critical Infrastructure Protection’, International Journal of Critical Infrastructure Protection 6, 1, 2013, 39–50.

40. Darrin Grimsey and Mervyn K. Lewis, ‘Evaluating the Risks of Public Private Partnerships for Infrastructure Projects’, International Journal of Project Management 20, 2, 2002, 107–118.

41. Alpana Kateja, ‘Building Infrastructure: Private Participation in Emerging Economies’, Procedia-Social and Behavioral Sciences 37, 2012, 368–378.

42. Colin Kirkpatrick, David Parker and Yin-Fang Zhang, ‘Foreign Direct Investment in Infrastructure in Developing Countries: Does Regulation Make a Difference?’, Transnational Corporations 15, 1, 2006, 143-171.

43. Rosário. Macário, ‘Future Challenges for Transport Infrastructure Pricing in PPP Arrangements’, Research in Transportation Economics 30, 1, 2010, 145–154.

44. Francesca Romana Medda, Gianni Carbonaro and Susan L. Davis, ‘Public Private Partnerships in Transportation: Some Insights from the European Experience’, IATSS Research 36, 2, 2013, 83–87.

45. Rachael Nsasira, Benon C. Basheka and Pross N. Oluka, ‘Public Private Partnerships (PPPs) and Enhanced Service Delivery in Uganda: Implications from the Energy Sector’, International Journal of Business Administration 4, 3, 2013, 48–60.

46. Afeez Olalekan Sanni and Maizon Hashim, ‘Building Infrastructure through Public Private Partnership in Sub-Saharan Africa: Lesson from South Africa’, Procedia - Social and Behavioral Sciences 143, 2014, 133–138.

47. Li-Yin Shen, Andrew Platten and X. P. Deng, ‘Role of Public Private Partnerships to Manage Risks in Public Sector Projects in Hong Kong’, International Journal of Project Management 24, 7, 2006, 587–594.

48. D. Tsamboulas, A. Verma and P Moraiti, ‘Transport Infrastructure Provision and Operations: Why Should Governments Choose Private–Public Partnership?’, Research in Transportation Economics 38, 1, 2013, 122–127.

49. Timo Välilä, ‘How Expensive Are Cost Savings? On the Economics of Public-Private Partnerships’, EIB Papers 10, 1, 2005, 95–119.

50. Shuibo Zhang, Ying Gao, Zhuo Feng and Weizhuo Sun, ‘PPP Application in Infrastructure Development in China: Institutional Analysis and Implications’, International Journal of Project Management 33, April 2015, 497-504.

51. Xueqing Zhang and Shu Chen, ‘A Systematic Framework for Infrastructure Development through Public Private Partnerships’, IATSS Research 36, 2, 2013, 88–97.

 

Volume IV: Infrastructure as an Asset Class

Acknowledgments

Volume IV Introduction

52. Rajeev J. Sawant, ‘Infrastructure Asset Characteristics’, in Infrastructure Investing: Managing Risks & Rewards for Pensions, Insurance Companies & Endowments (Hoboken: John Wiley & Sons, 2010), pp. 27-47.

53. Mark A. Weisdorf, ‘Infrastructure: A Growing Real Return Asset Class’, CFA Institute Conference Proceedings Quarterly 24, 3, 2007, 17–27.

54. Thomas Idzorek and Christopher Armstrong, ‘Infrastructure and Strategic Asset Allocation: Is Infrastructure an Asset Class?’, Ibbotson Associated, First American Funds/FAF Advisors, 2009.

55. Konrad Finkenzeller, Tobias Dechant and Wolfgang Schäfers, ‘Infrastructure: A New Dimension of Real Estate? An Asset Allocation Analysis’, Journal of Property Investment & Finance 28, 4, 2010, 263–274.

56. Georg Inderst, ‘Infrastructure as an Asset Class’, EIB Papers 15, 1, 2010a, 70–104.

57. Georg Inderst, ‘Pension Fund Investment in Infrastructure: What Have We Learnt?’, Pensions: An International Journal 15, 2, 2010b, 89–99.

58. Yves Courtois, ‘Infrastructure: An Emerging Global Asset Class’, CFA Institute Magazine 24, 6, 2013, 16–19.

59. Raffaele Della Croce, ‘Trends in Large Pension Funds Investment in Infrastructure’, OECD Working Papers on Finance, Insurance and Private Pensions, 29, 2012.

60. Michael D. Underhill, ‘What is Listed Infrastructure?’, in Michael D. Underhill (ed.), The Handbook of Infrastructure Investing (Hoboken: John Wiley & Sons, 2010), pp. 163-173.

61. Raffaele Della Croce and Juan Yermo, ‘Institutional Investors and Infrastructure Financing’, OECD Working Papers on Finance, Insurance and Private Pensions, 36, 2013.

62. Gordon L. Clark, Ashby H. B. Monk, Ryan Orr and William Scott, ‘The New Era of Infrastructure Investing’, Pensions: An International Journal 17, 2, 2012, 103–111.

63. Walt Schubert, ‘Sovereign Wealth Funds and Dedicated Infrastructure Investment’, Journal of Applied Business and Economics 12, 6, 2011, 32–39.

64. N. Piyatrapoomi, A. Kumar and S. Setunge. ‘Framework for Investment Decision-Making under Risk and Uncertainty for Infrastructure Asset Management’, Research in Transportation Economics 8, 1, 2004, 199–214.

65. Christoph Rothballer and Christoph Kaserer, ‘The Risk Profile of Infrastructure Investments: Challenging Conventional Wisdom’, The Journal of Structured Finance 18, 2, 2012, 95–109.

66. World Economic Forum, ‘Infrastructure Investment Policy Blueprint’, 2014.

67. Ch. Abdul Rehman, Muhammad Ilyas, Hassan Mobeen Alam and Muhammad Akram, ‘The Impact of Infrastructure on Foreign Direct Investment: The Case of Pakistan’, International Journal of Business and Management 6, 5, 2011, 268–276.

68. Nilgun Atamturk and Marzia Zafar, ‘Trends in Utility Infrastructure Financing’, Policy and Planning Division Briefing Paper, California Public Utilities Commission, San Francisco, 2012.

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Editor(s)

Biography

Roberto Cardinale is Assistant Professor in economics at the American University in Cairo. He is also Honorary Research Associate at the Bartlett School of Sustainable Construction, University College London (UCL).

Tehreem Husain is a doctoral candidate at the Bartlett School of Sustainable Construction. She previously worked at the Monetary Policy Department of the State Bank of Pakistan.

D’Maris Coffman PhD FRHistS FSA SFHEA is Professor in Economics and Finance of the Built Environment at University College London. She is the Director of the Bartlett School of Sustainable Construction. She is also a Visiting Professor at Renmin University of China’s School of Public Policy and Administration and at the University of Milan’s Department of Economics, Management and Quantitative Methods.