Rajan, Raghuram, 115
regional cooperation, 54
regulatory governance in PPP
performance, 10, 233-54. See also institutional and regulatory
framework for countries agencies for, 237-39, 238t
designing systems for, 240-42, 241f
instruments for, 239-40
misunderstanding of, 233
objectives of, 235
pitfalls in, 242
policy recommendations for, 252
role in improvement of PPPs, 234
regulatory instruments, 239-40
regulatory quality, 87, 99t, 130n7
renewable energy projects, 21, 277
Republic of Korea, 10, 191-232
bank project financing in, 83, 84t
capital market financing in, 199-201, 200-201t, 202b
comparison with Philippines and Indonesia, 287-322. See also comparative review of PPP systems
economic growth, PPP investment and, 19, 192-99, 193f, 194-99t
emiprical analysis of PPP projects in, 222-29, 223f, 224t, 229t
governance issues affecting PPP
process in, 204-8, 205f, 206t, 208f
government support for PPPs in, 300-301f, 300-304, 303-4t, 310-11, 316
Hwado-Yangpyeong Expressway Project, 205
Incheon International Airport Railway Project (2007), 205
infrastructure eligible for PPPs in, 314-16
institutions, functioning of, 310
legal framework for PPPs in, 209-10, 212n3, 288, 308, 312
policy implications for, 229-30
PPP environment classification in, 287
PPP institutional frameworks in, 297, 297t
PPP structure in, 216-17, 216f, 223f
PPP to total infrastructure investment ratios in, 40t
procurement types, 288-89, 314, 321n1
Public and Private Infrastructure
Investment Management Center of, 9, 210, 222, 288, 291, 297, 297t, 310
Public-Private Partnership Review Committee, 222, 291-92
Public-Private Partnerships in Infrastructure Act (1994), 191, 209-10, 288-89, 290, 297, 302, 304
solicited project proposals in, 290-91, 309, 319
syndicated loan use in, 110
theoretical model of procurement contracts in, 217-22
unsolicited project proposals in, 202-4, 203-4t, 290-91, 319
requests for proposals (RFPs), 230, 291
resettlement costs, 54, 172, 306
Reside, Renato, 63
return on average assets, 83, 87, 99t, 100t
revertible facilities, 288, 302
Reyes-Tagle, Gerardo, 52
Riedl, Dominik F., 54
risk assessment and management, 9, 47-73
bank project financing and, 81-82, 97n3
categorization of risks, 55
construction vs. financial investors and, 225-26
in contracts, 236
currency risk and, 149
data and analytical framework, 55-58
empirical results, 58-64, 59-60f, 61-62t, 64-65t
factors affecting outcomes of PPP projects, 50-55, 51f
failed projects and, 48-50, 48-50f
in financing for infrastructure, 6-7, 138
formation requirements for PPPs, 51-52
investor incentives and, 77-78
loan security and, 117
policy implications, 66-67
political vulnerability and, 5
private sector and, 260
for project implementation, 53-55
public sector role in, 138, 299
regulatory governance in PPP
regulatory system design and, 240, 241f, 251
risk evaluations, 139
risk mitigation and sovereign
costs of, 180
government support to reduce risk, 172-73, 172f
MDB partial risk guarantees, benefits of, 180-83, 181-82f
policy implications, 183
regression framework, 185
risk perceptions of investors, 168-71, 168t, 169f, 171t, 184n2
risk sharing
benefits of, 3
comparative review of, 310-11
to prevent moral hazard, 138
project finance and, 6-7
regulation of, 236
Republic of Korea, 191, 300-302, 300-301f
revenue guarantees and, 210
Rockart, John F., 51
Romp, Ward, 23
Rosenstock, Michael, 52
Ruhashyankiko, Jean-Francois, 20, 63, 88, 92, 170
rule of law, 130n5. See also institutional and regulatory framework for countries
rules as regulatory tools, 239-40
rural areas
access to and quality of infrastructure, 29, 30-31t
renewable energy projects in, 21