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Government Guarantees: Allocating and Valuing Risk in Privately Financed Infrastructure Projects

£5.99

Product description

Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments can be tempted to grant too many guarantees. Drawing on a diverse range of disciplines, including finance, history, economics, and psychology, Government Guarantees aims to help governments give guarantees only when they are justified. It reviews the history of government guarantees and identifies the cognitive and political obstacles to good decisions about guarantees. It then develops a framework for judging when governments should bear risk in an infrastructure project (seeking to make precise the oft-invoked principle that risks should be allocated to those best placed to manage them); explains how guarantees can be valued; and discusses how aspects of public-sector management can be modified to improve the likely quality of government decisions about guarantees. Although intended mainly for governments and those who advise them, the book may be of interest to others concerned about the problems of allocating and valuing exposure to risk.Similarly, although its focus is physical infrastructure, it may be relevant to people working on public-private partnerships in education, health, and other social services.

Paperback in as new condition.

Item details

Author(s):
Timothy C. Irwin
Condition:
As new
Dimensions:
226x160x18
EAN-13:
9780821368589
Format:
Paperback
ISBN-13:
9780821368589
Number of items:
1
Number of pages:
213
Publisher:
World Bank Group Publications

Standard UK Delivery (£3.95 per order)

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About this item

Government guarantees can help persuade private investors to finance valuable new infrastructure. But because their costs are hard to estimate and usually do not show up in the government's accounts, governments can be tempted to grant too many guarantees. Drawing on a diverse range of disciplines, including finance, history, economics, and psychology, Government Guarantees aims to help governments give guarantees only when they are justified. It reviews the history of government guarantees and identifies the cognitive and political obstacles to good decisions about guarantees. It then develops a framework for judging when governments should bear risk in an infrastructure project (seeking to make precise the oft-invoked principle that risks should be allocated to those best placed to manage them); explains how guarantees can be valued; and discusses how aspects of public-sector management can be modified to improve the likely quality of government decisions about guarantees. Although intended mainly for governments and those who advise them, the book may be of interest to others concerned about the problems of allocating and valuing exposure to risk.Similarly, although its focus is physical infrastructure, it may be relevant to people working on public-private partnerships in education, health, and other social services.

Paperback in as new condition.

Author(s):
Timothy C. Irwin
Condition:
As new
Dimensions:
226x160x18
EAN-13:
9780821368589
Format:
Paperback
ISBN-13:
9780821368589
Number of items:
1
Number of pages:
213
Publisher:
World Bank Group Publications

Delivery & returns

This item will be dispatched to UK addresses via second class post within 7 working days of receipt of your order. Standard UK delivery is £3.95 per order, so you're only charged once no matter how many items you have in your basket. Any additional courier charges will be applied at checkout as they vary depending on delivery address.

This item will be dispatched to UK addresses via second class post within 7 working days of receipt of your order. Standard UK delivery is currently free, no matter how many items you have in your basket. Any additional courier charges will be applied at checkout as they vary depending on delivery address.

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Outside Europe: £7.00

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