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| Author | : Gian Carlo Guarda |
| Publisher | : World Bank Publications |
| Total Pages | : 154 |
| Release | : 1989 |
| Genre | : Municipal finance |
| ISBN | : |
| Author | : Dimitri Vittas |
| Publisher | : |
| Total Pages | : 154 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
This paper discusses urban services finance in the Latin American context of rapid urbanization, severe fiscal constraints and democratization of administrative systems. Analyzing the situation in thirteen different countries, it draws several conclusions which may be helpful in the design of new lending operations. The report's main theme is that the World Bank's approach to the urban sector needs to be re-directed. The structure of the report is as follows: first it reviews the rising demand for urban services, noting the positive correlations of rapid urban growth with national development, but also the corresponding, incremental fiscal pressures. The macro-economic constraints to urban expenditures are summarized and the adverse circumstances limiting new capital formation and service provision in Latin American cities is mentioned. The report also discusses whether Latin American governments are truly decentralizing and reviews the strategies to relieve the fiscal gap of subnational governments, including changes in the existing systems of revenue sharing, reassignment of public service functions, pricing adjustments, deregulation or privatization of certain services, technical assistance, and restructuring of institutional credit. The main findings and recommendations are organized according to three main groups: country concerns; theoretical concerns; and operational concerns. The text is accompanied by three case studies in Argentina, Brazil and Mexico.
| Author | : Ramiro Lopez-Ghio |
| Publisher | : |
| Total Pages | : |
| Release | : 2020-06-08 |
| Genre | : |
| ISBN | : 9781597823883 |
| Author | : Patricia Clarke Annez |
| Publisher | : World Bank Publications |
| Total Pages | : 30 |
| Release | : 2006 |
| Genre | : Automobile |
| ISBN | : |
The author examines the role of private participation in infrastructure (PPI) in mobilizing finance for key urban services, that is, urban roads, municipal solid waste management, and water and sanitation since the early 1990s when private participation came to be seen as a key element in infrastructure development. Her review indicates that for financing urban services, PPI has disappointed-playing a far less significant role than was hoped for, and which might be expected given the attention it has received and continues to receive in strategies to mobilize financing for infrastructure. Looking beyond the number, the author examines transactions and finds that there are good reasons-practical, political, economic and institutional-for these disappointments. Recommending that cities in developing countries try harder is not likely to relieve all these constraints. Experience shows that there are a number of features that raise the risk profile of urban infrastructure for private investors, which has meant that the bulk of the transactions that have taken place have been exceptions rather than harbingers of a growing trend. Many of the measures that could reduce the risk profile are outside the control of many cities, others unlikely to change, and yet another group of steps to be taken that would improve prospects for urban service provision, whether in the hands of public or private operators. These findings suggest a more pragmatic and selective approach to the focus on PPI as a source of finance, and more focus on the array of some of the fundamental steps, among them strengthening the public finances of cities to improve both the capacity to deliver services and to reduce the risks that private investors must take when they invest in urban infrastructure.
| Author | : Carlos Leite |
| Publisher | : Springer |
| Total Pages | : 0 |
| Release | : 2020-10-24 |
| Genre | : Science |
| ISBN | : 9783030160142 |
This book highlights current concepts of Social Urbanism, the contemporary set of multiple and interdisciplinary urban studies that have emerged mainly from the complex realities of Latin American cities. The discussion that follows places special emphasis on public land policy and the innovative urban instruments developed in that region to promote social and territorial inclusion. Critical reflections throughout the pages of this book shed light into the local context of each case-study in order to understand their specific set of challenges and opportunities. Relevant lessons are extracted from the three cities here analyzed, the medium-scale city of Medellin, the large-scale city of Bogota, and the megacity of Sao Paulo, as well as from local innovative experiences in Argentina and Uruguay. These cities underwent promising transformation processes over two decades, applying planning and financing instruments of land policy which have produced significant shifts in the urban development paradigm in the region. The quest for social inclusion has emerged as the common denominator in these cities, awakening growing interest across several fields of urban studies, from public policies and city management to urban law, city financing, urban development, and innovative community participation processes. The book brings implications on urban land policy for transition cities in the Global South. The question of social inclusion in Global South cities is however far from being solved; the analysis presented in this book shows advances and hope, besides a long path still ahead, which can only be faced through a continuous and challenging incremental process. May this book be an incremental step.
| Author | : Martim Oscar Smolka |
| Publisher | : Lincoln Inst of Land Policy |
| Total Pages | : 68 |
| Release | : 2013 |
| Genre | : Business & Economics |
| ISBN | : 9781558442849 |
The report examines a variety of specific instruments and applications in municipalities throughout the region under three categories: property taxation and betterment contributions; exactions and other direct negotiations for charges for building rights or the transfer of development rights; and large-scale approaches such as development of public land through privatization or acquisition, land readjustment, and public auctions of bonds for purchasing building rights. It concludes with a summary of lessons learned and recommends steps that can be taken in three spheres: Learn from Implementation Experiences Increase Knowledge about Theory and Practice Promote Greater Public Understanding and Participation
| Author | : Harold Robinson |
| Publisher | : |
| Total Pages | : 188 |
| Release | : 1967 |
| Genre | : Community development, Urban |
| ISBN | : |
| Author | : George E Peterson |
| Publisher | : SAGE |
| Total Pages | : 368 |
| Release | : 2007-04-04 |
| Genre | : Business & Economics |
| ISBN | : 9780761935643 |
This book highlights the need to boost infrastructure investment in cities as also the necessity for fiscal management across all levels of government-within the context of decentralizing service delivery responsibilities. The volume provides case studies reflecting various viewpoints and a range of success and failure stories from five countries. The topics covered include: - Impact of political and fiscal decentralization - Limitations on borrowing - Managing moral hazard - The role of the financial sector in striking a balance between controls and encouraging the local government to maintain fiscal discipline
| Author | : Hela Cheikhrouhou |
| Publisher | : World Bank Publications |
| Total Pages | : 184 |
| Release | : 2007 |
| Genre | : Law |
| ISBN | : 0821371401 |
Structured Finance in Latin America explores how structured finance mechanisms can channel pension savings to support projects in underserved sectors, deepen capital markets, and contribute to investment and economic growth. Private pension funds have been accumulating assets rapidly in the wake of pension system reforms in many Latin American countries. Strict investment regulations to protect workers' savings have limited their investment in highly creditworthy domestic securities, yet pension fund demand for new securities has outstripped issuance of eligible traditional corporate debt instruments. This has contributed to a high concentration of pension fund assets in public debt. Innovative structured finance mechanisms can help bring to the market a new set of creditworthy securities backed by pools of loans to small borrowers, mortgage loans or the expected proceeds of large infrastructure projects. These mechanisms create new investment opportunities for pension funds, while establishing additional sources of funding for underserved market segments. Policy makers and regulatory authorities have a catalytic role to play in the development of structured finance securities by establishing a conducive legal, regulatory, and tax framework. Structured Finance in Latin America serves as a practical guide for development practitioners, policy makers, and others working in government, international or nongovernmental organizations, and financial institutions, who focus on finance and investment; infrastructure, transport, and urban development; housing finance; small and medium-sized enterprise development; and pension reform.
| Author | : Marianne Fay |
| Publisher | : World Bank Publications |
| Total Pages | : 121 |
| Release | : 2017-08-02 |
| Genre | : Business & Economics |
| ISBN | : 1464811024 |
Latin America and the Caribbean (LAC) does not have the infrastructure it needs, or deserves, given its income. Many argue that the solution is to spend more; by contrast, this report has one main message: Latin America can dramatically narrow its infrastructure service gap by spending efficiently on the right things. This report asks three questions: what should LAC countries’ goals be? How can these goals be achieved as cost-effectively as possible? And who should pay to reach these goals? In doing so, we drop the ‘infrastructure gap’ notion, favoring an approach built on identifying the ‘service gap’. Benchmarking Latin America in this way reveals clear strengths and weaknesses. Access to water and electricity is good, with the potential for the region’s electricity sector to drive competitive advantage; by contrast, transport and sanitation should be key focus areas for further development. The report also identifies and analyses some of the emerging challenges for the region—climate change, increased demand and urbanization—that will put increasing pressure on infrastructure and policy makers alike. Improving the region’s infrastructure performance in the context of tight fiscal space will require spending better on well identified priorities. Unlike most infrastructure diagnostics, this report argues that much of what is needed lies outside the infrastructure sector †“ in the form of broader government issues—from competition policy, to budgeting rules that no longer solely focus on controlling cash expenditures. We also find that traditional recommendations continue to apply regarding independent, well-performing regulators and better corporate governance, and highlight the critical importance of cost recovery where feasible and desirable, as the basis for future commercial finance of infrastructure services. Latin America has the means and potential to do better; and it can do so by spending more efficiently on the right things.
