Renegotiation of Concession Contracts: Empiricla Evidence for Public Transport Infrastructure in Peru

Jorge Montecinos C. and Eduardo Saavedra
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Jorge Montecinos C.: OSINERGMIN Perú

ILADES-UAH Working Papers from Universidad Alberto Hurtado/School of Economics and Business

Abstract: This paper identifies the determinants of renegotiation of concession contracts in transport infrastructure for public use in Peru. Based on the literature of concession contracts, this paper uses a probit model to estimate the probability of renegotiating these contracts. The results indicated that the probability of renegotiate these concession contracts depends on the number of bidders who participated in the bidding process for each concession, the competition factor (decision variable) that determines the winner of the bid; the bidder's previous experience on other concession contracts; the percentage of land given to the operator at the beginning of the concession; the regulatory mechanism; the degree of autonomy of the regulator (in terms of experience and financial resources), and the exchange rate.

Keywords: Concessions; Renegotiation; Infrastructure; Transport; Peru (search for similar items in EconPapers)
JEL-codes: K41 L51 L91 L98 Y (search for similar items in EconPapers)
Pages: 28 pages
Date: 2014-09
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Citations: View citations in EconPapers (1)

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