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on Project, Program and Portfolio Management |
| By: | Aslan, Cigdem; Duarte, David |
| Abstract: | The topic of managing fiscal risks arising from public-private partnerships is receiving increased attention as more governments turn toward this type of financing for large infrastructure projects. Governments can manage balance sheet exposure to public-private partnerships by quantifying and capturing direct obligations and provisions for potential calls on government guarantees associated with public-private partnership projects in the preparation of the medium term fiscal framework and annual budget. This working paper examines how four countries with active public-private partnership projects manage the costs and risks of financial obligations generated by these investments throughout the lifetime of the contracts. The paper seeks to complement the existing literature with a practitioner's point of view while exploring if and how these countries monitor and evaluate the fiscal risks generated by the portfolio of public-private partnerships (as well as individual projects). The countries covered are Chile, Peru, South Africa, and Turkey, all of which have experience implementing public-private partnership projects. The research finds that countries have tailored fiscal risk management and monitoring frameworks to fit their circumstances and respective budgeting, accounting, and reporting practices. All four countries assess the overall or partial credit exposure to monitor and manage their fiscal commitments from public-private partnerships in a consolidated way. All countries have developed evaluation models to help assess fiscal risks and assess project and portfolio level credit exposure. Further scrutiny could be focused on budgeting and accounting practices, which could be strengthened and brought in line with international standards. Similarly, sharing and standardizing information would improve transparency and accountability. |
| Keywords: | Debt Markets,Bankruptcy and Resolution of Financial Distress,Public Sector Economics,Access to Finance,Insurance&Risk Mitigation |
| Date: | 2014–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:wbk:wbrwps:7041&r=ppm |
| By: | Asian Development Bank (ADB); (East Asia Department, ADB); ; |
| Abstract: | Payments for environmental services (PES) are a potential mechanism to provide incentives for sustainable management of grasslands and reduction of greenhouse gas emissions. PES is not widely practiced in Mongolia, but has been included in the Green Development Strategy of the government. This paper reviews 50 PES schemes operating in grasslands and other grazing lands globally, including Mongolia. It discusses key issues related to the design of PES schemes in Mongolian grasslands, including potential benefits, risks, constraints, and trade-offs. |
| Keywords: | Mongolia, climate change, mitigation, adaptation, greenhouse gas, GHG, carbon dioxide, methane, National Action Program on Climate Change, National Livestock Program, herders, livelihoods, development, pasture rotation, pasture management livestock management, nationally appropriate mitigation action; NAMA, carbon finance, carbon market |
| Date: | 2014–02 |
| URL: | http://d.repec.org/n?u=RePEc:asd:wpaper:rpt136150&r=ppm |
| By: | Chieko UMETSU; K. PALANISAMI; Ziya COSKUN; Sevgi DONMA; Takanori NAGANO; Yoichi FUJIHARA; Kenji TANAKA |
| URL: | http://d.repec.org/n?u=RePEc:ekd:002841:284100043&r=ppm |
| By: | Luca Antonelli (Banca d'Italia); Lorenzo Bencivelli (Banca d'Italia); Annalisa Bucalossi (Banca d'Italia); Luigi Concistrè (Banca d'Italia); Raffaele De Marchi (Banca d'Italia); Giorgio Merlonghi (Banca d'Italia); Valeria Rolli (Banca d'Italia); Giorgio Trebeschi (Banca d'Italia) |
| Abstract: | This paper surveys the current conditions and prospects for the infrastructure sector in seven large emerging countries - Brazil, China, India, Indonesia, Mexico, Russia and Turkey - assessing the adequacy of their current infrastructural endowment and illustrating the latest government investment plans. It also discusses the extent of private sector involvement and the main obstacles to the realization of the planned investments, including those related to the limited availability and high costs of financing. The seven countries cited in the research, which all have large domestic markets (either effective or potential) coupled with substantial requirements for new investment in public infrastructure, are of undoubted strategic importance for Italian firms operating in the infrastructure sector and planning international expansion. |
| Keywords: | economic development, infrastructure investments |
| JEL: | O12 O16 |
| Date: | 2014–09 |
| URL: | http://d.repec.org/n?u=RePEc:bdi:opques:qef_224_14&r=ppm |
| By: | K.W. Clements; R.A. Greig |
| URL: | http://d.repec.org/n?u=RePEc:uwa:wpaper:91-15&r=ppm |