Granting and renegotiating infrastructure concessions

This fascinating book carries out an empirical analysis of the unfortunate history of concession over the past two decades to offer a blueprint for concession design that holds open the prospects that future concessions might at least avoid the pitfalls of the past, reducing the incidence of renegotiation and improving sector and economic performance." Joseph E. Stiglitz, Professor of Economics and Finance, Columbia University; winner of the

Nobel Prize in Economics

"This book is a major contribution toward understanding what went wrong and what should be done differently in the future to reap the potential benefits of private participation in infrastruc ture provision. It analyzes more than 1,000 infrastructure concessions, uncovering a series of puzzling stylized facts. It then considers alternative explanations for the patterns it has uncov ered, and concludes with a series of insightful policy proposals. This book will not only be of interest to practitioners wishing to avoid the many pitfalls present in infrastructure concessions, it will also fascinate economists