Political economy scholarship suggests that private sector investment, and thus economic growth, is more likely to occur when formal institutions allow states to provide investors with credible commitments to protect property rights. This book argues that this maxim does not hold for infrastructure privatization programs. Rather, differences in firm organizational structure better explain the viability of privatization contracts in weak institutional environments. Domestic investors - or, if contracts are granted ...
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Political economy scholarship suggests that private sector investment, and thus economic growth, is more likely to occur when formal institutions allow states to provide investors with credible commitments to protect property rights. This book argues that this maxim does not hold for infrastructure privatization programs. Rather, differences in firm organizational structure better explain the viability of privatization contracts in weak institutional environments. Domestic investors - or, if contracts are granted subnationally, domestic investors with diverse holdings in their contract jurisdiction - work most effectively in the volatile economic and political environments of the developing world. They are able to negotiate mutually beneficial adaptations to their contracts with host governments because cross-sector diversification provides them with informal contractual supports. The book finds strong empirical support for this argument through an analysis of fourteen water and sanitation privatization contracts in Argentina and a statistical analysis of sector trends in developing countries.
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Like New. Size: 6x0x9; A nearly new hardback with no defects, just a few hardly noticeable rubs and bumps and a 'damaged' stamp to one of the preliminary pages. Despite such this book looks and feels unread with contents that are crisp, fresh and tight. Thus a very nice book in great condition, now offered for sale at a reasonable price.
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Seller's Description:
Like New. Size: 6x0x9; This book may be an ex-library item. This book is in near-perfect condition, showing minimal signs of use. It has clean, crisp pages with no markings or highlighting, and the spine and cover are intact without any creases or wear. This book appears as if it has been barely touched and is virtually indistinguishable from a brand new book.
