Hydro resources are provided by nature. The exploitation of such resources can generate significant economic rent to the owners. In the past, governments have usually claimed ownership of hydroelectric resources and passed on the rents to their state-owned utilities, which have used them to...

This monograph contains the proceedings of a high-level workshop on "International Experience in Case-by-Case Privatization: Lessons for the Russian Federation" that was held in ST.Petersburg, Russia in July 1997. Against the backdrop of Russia's mass voucher privatization initiative in 1993-94...

Chapter 1 of this paper argues that punlic sector resources in developing countries are insufficient to finance demand for investment in increasingly integrated infrastructure services. Chapter 2 discusses the role of reforms in public enterprises providing infrastructure services. Chapter 3...

There has been tremendous growth worldwide in the mobilization of financial resources outside traditional banking systems. Channeled mainly through capital markets, such rapid financial diversification is posing new challenges for regulators in many emerging markets. This document describes the...