The link between infrastructure and economic growth is widely acknowledged -- as is the infrastructure gap, which can act as a break on growth in emerging markets and developing economies (EMDEs). Since the global economic and financial crisis, the challenges of raising financing for infrastructure projects in EMDEs are also well known. The challenges come from stretched government finances and restrictions on global bank lending. Hence much attention has been focused on the potential for institutional investors as a growing potential source of financing. This paper argues that infrastructure projects can potentially deliver long-term returns, but investments, particularly in EMDEs need to be carefully structured to meet the needs of both sides. The paper first considers the existing types of institutional investors and their potential for filling the infrastructure financing gap. The challenges of adjusting asset allocations, particularly toward EMDE infrastructure, are discussed and examples of projects where institutional investors have been involved are given. Finally, the paper considers a range of models for the involvement of institutional investors in EMDEs and makes initial proposals for how to determine which model fits best in a particular country context.
Detalhes
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Autor
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Data do documento
2014/02/01
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TIpo de documento
Documento de trabalho sobre pesquisa de políticas
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No. do relatório
WPS6780
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Nº do volume
1
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Total Volume(s)
1
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País
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Região
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Data de divulgação
2012/02/01
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Disclosure Status
Disclosed
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Nome do documento
Institutional investment in infrastructure in developing countries : introduction to potential models
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Palavras-chave
institutional investor;Insurance & Private Pension;delivery of infrastructure service;multilateral development bank;pension fund investment;social security fund;sovereign wealth fund;domestic institutional investor;involvement in infrastructure;infrastructure financing;state owned enterprise;private sector financing;supply of labor;international financial market;private equity fund;international good practice;international institutional investor;long-term investment opportunities;economy sector;retirement policy;global financial crisis;Climate Change Policy;bilateral development agencies;types of instrument;pools of capital;local institutional investors;middle income economy;foreign exchange exposure;Capital Investments;infrastructure project finance;lack of finance;growth and development;conflicts of interest;capital market development;emerging market economy;flow of capital;infrastructure funds;advanced economy;domestic investment;insurance companies;Frontier Market;credit enhancement;international investor;debt structure;asian countries;institutional infrastructure;institutional investment;investment vehicle;financing vehicles;Cash flow;long-term capital;structured finance;asset allocation;infrastructure bond;pension system;Financial Sector;
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