The Role of Institutions in Private Participation in Infrastructure in Low- and Middle-income Countries: Greenfield versus Brownfield Projects

Hiroyuki Taguchi () and Yasushi Sunouchi ()
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Yasushi Sunouchi: Saitama University

Economics Bulletin, 2019, vol. 39, issue 3, 2027-2039

Abstract: This paper aims to examine institutional effects on the private participation in infrastructure (PPI) projects by the type of greenfield and brownfield projects during the recent period for 2002-2017 with 117 low- and middle-income economies, by using the PPI and the Worldwide Governance Indicators database of the World Bank. The study contributes to enriching the evidence by updating the sample time-horizon and widening the coverage of sample economies, and by decomposing the PPI projects into greenfield and brownfield ones. The main findings of this study are summarized as follow: the institutional role in promoting the PPI projects are clearly identified in terms of government governance indicators such as government effectiveness, regulatory quality, rule of law and control of corruption; the institutional effects are confirmed to be greater on the greenfield projects than on the brownfield ones; and the macroeconomic conditions such as the market size of an economy are also significant promoters of the PPI projects.

Keywords: Private Participation in Infrastructure; Institution; Worldwide Governance Indicator; Greenfield and Brownfield; Multicollinearity (search for similar items in EconPapers)
JEL-codes: H5 O4 (search for similar items in EconPapers)
Date: 2019-09-07
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Citations: View citations in EconPapers (1)

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