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• W1596537250 abstract "The past 15 years have witnessed a fundamental change in the way governments think about infrastructure. In rich and poor countries alike, private ownership and operation have been replacing public provision, while monopoly has been giving way to competition. Concessions have played a central role in these changes. This chapter presents a rationale for concessions and compares different types of concessions, particularly those used in the development of infrastructure. Concession refers broadly to any arrangement in which a firm obtains from the government the right to provide a particular service under conditions of significant market power. A concession is thus a device that can be used to create competition for a market, when competition in the market is not operating. Concessions should be used in areas where they are most likely to aid development, such as regulating natural monopolies (services that can be provided more cheaply by a single firm than by two or more). As well as pure concessions, there are arrangements called franchises, operating concessions, management contracts, leases, affermages, and build-operate-transfers (BOTs). In a retail concession, the concessionaire sells services to the public; in a wholesale concession, the concessionaire sells to another entity (often a government agency or state-owned enterprise), which in turn sells to the public." @default.
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• W1596537250 date "1998-03-01" @default.
• W1596537250 modified "2023-09-27" @default.
• W1596537250 title "Concessions for Infrastructure: A Guide to Their Design and Award" @default.
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