附註:Includes bibliographical references.
Foreign Direct Investment in Central and Eastern European Infrastructure -- Contents -- Abstract -- Preface -- Acknowledgments -- Executive Summary -- I -- The Current State of Infrastructure in Central and Eastern Europe -- Telecommunications -- The Need for Expanded Capacity and Greater Reliability -- Transportation -- Old Structures and New Demands -- Roads -- Railways -- Airports and Seaports -- Electric Power Systems -- Capacity Without Efficiency -- Water Supply and Sewage Treatment -- Underpricing and Undertreatment -- Unsatisfactory Infrastructure -- An Impediment to Private Sector Development -- Notes -- II -- The Extent of Private Investor Involvement -- Recent Infrastructure Reforms -- Transport -- Roads at the Forefront -- Power -- A Sector with Long-Term Potential -- Water and Sewage -- The Flipside of Decentralization -- A Worldwide Financing Revolution -- Notes -- III -- Matching Public Objectives with Private Incentives -- Governments -- Balancing Domestic Interests and Multiple Objectives -- Mixed Signals from Different Constituencies -- Subsidized Prices -- Loss of Authority -- Involving Domestic Investors -- Misunderstanding What Private Involvement Can Offer and What Investors Require -- Sponsors -- Creating a Viable Framework -- Operating Profitably -- Finding Reliable Partners -- Diversifying Risk -- Reducing Uncertainty -- Existence of a Stable Legal Framework -- Avoiding Contingent Liabilities -- Commercial Lenders -- The Market Test of Bankability -- Being Cautious and Selective -- Providing the Ultimate Market Test -- Ensuring Convertibility and Transferability -- Optimizing Risk Allocation -- IV -- Impediments to Private Infrastructure Projects in Central and Eastern Europe -- The Country Risk Problem -- Difficulties in Project Implementation -- Lack of Government Support -- Poorly Specified Projects -- Direct Negotiations vs. Competitive Bidding -- High Transactions Costs and Uncertainty -- Conflict between Bankable Projects and Social
