In most countries, participation in a
public pension system involving some kind of redistribution
is compulsory, while participation in private pension
schemes is voluntary....
Type: ViewpointReport#: 16931Date: February 29, 1996Author:
Vittas, Dimitri
This Note briefly examines the dynamic
interaction that can develop between pension funds and
capital markets. Pension funds are not only a source of
long-term savings...
Type: ViewpointReport#: 16930Date: February 29, 1996Author:
Vittas, Dimitri
In project finance, risks are allocated
to the parties best able to manage them. However, the risk
mitigation instruments incorporated in the project's
contractual...
Type: ViewpointReport#: 16928Date: February 29, 1996Author:
Ruster,Jeff E.
Price cap regulation uses a formula, set
in advance, to determine the price increases for a
firm's services for a period of several years. During
this period, the firm...
Type: ViewpointReport#: 16924Date: January 31, 1996Author:
Rohlfs, Jeffrey H.
The Estonian government has quickly
privatized more than 90 percent of its industrial and
manufacturing enterprises. The Estonian privatization agency
batches 30-40...
Type: ViewpointReport#: 16925Date: January 31, 1996Author:
Nellis,John R.
Moldovan firms wanting to export face
severe financing constraints. The local banking system has
neither the capital base nor the technical capacity to
finance their...
Type: ViewpointReport#: 16923Date: December 31, 1995Author:
Ruhl, Onno ;
Watkins, Alfred
Local telephone service is the last
bastion of a still frequently asserted public policy
preference for monopoly provision of telecommunications.
This Note challenges...
Type: ViewpointReport#: 16922Date: December 31, 1995Author:
Smith, Peter
The former Yugoslav Republic of
Macedonia, supported by a World Bank policy-based loan, is
trying a new approach to reform its enterprises. Enterprises
will still be...
Type: ViewpointReport#: 16921Date: November 30, 1995Author:
Pernia, Joseph ;
Ramachandran, S.
Concession-type arrangements are well
suited for privatizing sectors with monopolistic
characteristics. Under this approach, the state (or
municipality or other public...
Type: ViewpointReport#: 16919Date: October 31, 1995Author:
Guislain,Pierre ;
Kerf,Michel
The global private infrastructure
industry has experienced rapid growth over the past fifteen
years, attracting some 1,700 companies. In the past,
infrastructure was...
Type: ViewpointReport#: 16908Date: October 31, 1995Author:
Jae So ;
Ben Shin
Throughout the world, the rail industry
has been one of the most heavily regulated sectors. The
public utility paradigm of government regulation has failed
to handle...
Type: ViewpointReport#: 16918Date: October 31, 1995Author:
Kessides,Ioannis N. ;
Willig,Robert D.
The World Bank operations over the past
seven years have included substantial activities in support
of private participation in infrastructure (PPI). The author
shows...
Type: ViewpointReport#: 16914Date: October 31, 1995Author:
Karasapan, Omer
Privatized in 1984, British
Telecommunications (BT) is the longest-standing privatized
utility in the United Kingdom. Comparing BT's stock
market returns over a long...
Type: ViewpointReport#: 16920Date: October 31, 1995Author:
DNES, ANTONY
The legal structure of the modern
corporate form has four fundamental elements--separate
identity, limited liability for shareholders, centralized
management, and transferability...
Type: ViewpointReport#: 16917Date: October 31, 1995Author:
Muir, Russell ;
Soba, Joseph
Project financing of independent power
producers (IPPs) may seem the only solution to the
intractable problem of getting private credit to the power
sector. In the developing...
Type: ViewpointReport#: 16916Date: October 31, 1995Author:
Jechoutek,Karl Georg ;
Lamech,Ranjit J.
The new data show that eighty-six
countries have privatized 547 infrastructure companies since
1984, and at least 574 private greenfield projects are under
way in eighty-two...
Type: ViewpointReport#: 16904Date: October 31, 1995Author:
Jae So ;
Ben Shin
The 1990 power reforms in England and
Wales were designed to permit the introduction of
competition at both the retail and the wholesale level.
Generation was both vertically...
Type: ViewpointReport#: 26829Date: October 1, 1995Author:
Robert Bacon
The author argues that since competition
is more effective than regulation in promoting efficiency,
separating the potentially competitive parts of the industry
from...
Type: ViewpointReport#: 16913Date: September 30, 1995Author:
Newbery,David M.
Many developing countries suffer from
logjam in the courts, a condition that tends to reduce the
effectiveness of bankruptcy law in relieving financial
distress. Colombia's...
Type: ViewpointReport#: 16910Date: September 30, 1995Author:
Atiyas,Izak
Buying, selling and mortgaging farmland
are still rare in Eastern and Central Europe. Not
surprisingly, given the level of risk in many of these
countries, short-term...
Type: ViewpointReport#: 16911Date: September 30, 1995Author:
Razzaz, Omar
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