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原文传递 Multidimensionality and Renegotiation : Evidence from Transport-Sector Public-Private-Partnership Transactions in Latin America

题名：	Multidimensionality and Renegotiation : Evidence from Transport-Sector Public-Private-Partnership Transactions in Latin America
责任者：	Estache, Antonio<=>Guasch, Jose-Luis<=>Iimi, Atsushi<=>Trujillo, Lourdes
关键词：	Private Sector Development；Emerging Markets；Transport Economics Policy and Planning；Finance and Financial Sector Development；Debt Markets；Infrastructure Economics and Finance；Infrastructure Economics；Private Sector Development；E-Business；Transport
学科分类：	交通运输规划与管理
摘要：	Multidimensional auctions are a natural and practical solution when auctioneers pursue more than one objective in their public-private-partnership transactions. However, it is difficult to achieve auction efficiency with multiple award criteria. Using auction data from road and railway concessions in Latin America, the probability of renegotiation this paper estimates by a two-stage least squares technique with a binary selection in the first-stage regression. The findings show that auctioneers tend to adopt the multidimensional format when the need for social considerations, such as alleviation of unemployment, is high. This implies that such political considerations could hinder efficiency and transparency in auctions. The analysis also shows that the renegotiation risk in infrastructure concessions increases when multidimensional auctions are used. Rather, good governance, particularly anti-corruption policies, can mitigate the renegotiation problem.
出版机构：	World Bank
报告类型：	咨询报告
详细地址：	http://documents.worldbank.org/curated/en/2008/07/9670222/multidimensionality-renegotiation-evidence-transport-sector-public-private-partnership-transactions-latin-america
资源类型：	科技（咨询、行业）报告
初始创建时间：	2008-07
最新修改时间：	2017-12-13T14:24:03Z