The experience of semi-formal infrastructure finance in developing countries: proposals for Brazil and Latin America

This paper has the purpose of analyzing the role of civil society in funding and providing nfrastructure projects in developing countries. Considering that local associations around the world have been directly engaged on some infrastructure projects – some scholars define it as “semi-formal finance” –, the intention is to demonstrate that the experiences on such arrangements in developing countries have been responsible for fostering infrastructure investments in the poorer regions where the government is more absent. Based upon legal, economic and social aspects, this paper aims to contribute to a broader debate for the development of infrastructure in emerging countries. The conclusion is that, under a more social approach, the legal and economic mechanisms in developing countries are able to consider such arrangements in the benefit of their development.

The economic infrastructure gap and investment in Latin America

This edition of the FAL Bulletin aims to present and encourage the use of the economic infrastructure investment database for Latin America and the Caribbean (EII-LAC-DB), built by the Infrastructure Services Unit of the Economic Commission for Latin America and the Caribbean (ECLAC). The information contained refers to the period 1980-2012, in keeping with measurements undertaken by the World Bank, ECLAC and under the cooperation agreement between ECLAC and the Development Bank of Latin America (CAF).

As estatais e as PPPs: o project finance como estrat??gia de garantia de investimentos em infra-estrutura

Este trabalho discute o papel das estatais nas PPPs, de modo a garantir investimentos em infraestrutura pelo financiamento via project finance. Partindo de um contexto de privatiza????es desse setor, que, no Brasil, efetivou-se na d??cada de 1990, buscou-se mostrar como surgiu espa??o para o estabelecimento de PPPs, advindas de novas institui????es resultantes do processo de reforma do Estado. O project finance ?? colocado como uma forma de garantir o financiamento desses investimentos. Sua estrutura financeira, baseada na cria????o de uma pessoa jur??dica para a gest??o do empreendimento, busca dirimir os riscos pela eleva????o do n??mero de participantes e pela securitiza????o de receitas futuras, tornando-as l??quidas em curto prazo. A discuss??o sobre o papel do project finance revela que essa ?? uma estrat??gia vi??vel para a garantia de investimentos por parte das estatais, em parceria com o governo e com outras empresas, que levem ao desenvolvimento socioecon??mico sustent??vel do Pa??s.

Estrat??gia e estrutura para um novo Estado

A reconstru????o do Estado se tornou quest??o central nos anos 90, alavancando a reforma administrativa proposta no Plano Diretor a uma das prioridades do governo Fernando Henrique. O artigo aponta as bases sobre as quais est??o ancoradas as propostas da reforma e quais as diretrizes que a norteiam. Se a administra????o p??blica burocr??tica foi eficiente em um momento hist??rico para combater o patrimonialismo (confus??o entre o p??blico e o privado) instalado no Estado, hoje ?? a administra????o p??blica gerencial que se faz necess??ria para reconstruir o Estado, tornando-o mais eficiente, impedindo a sua privatiza????o, protegendo a rep??blica, dotando-o de meios para alcan??ar uma boa governan??a e voltando-o para o cidad??o.

A data-mining-based methodology for transmission expansion planning

In recent decades, all over the world, competition in the electric power sector has deeply changed the way this sector’s agents play their roles. In most countries, electric process deregulation was conducted in stages, beginning with the clients of higher voltage levels and with larger electricity consumption, and later extended to all electrical consumers. The sector liberalization and the operation of competitive electricity markets were expected to lower prices and improve quality of service, leading to greater consumer satisfaction. Transmission and distribution remain noncompetitive business areas, due to the large infrastructure investments required. However, the industry has yet to clearly establish the best business model for transmission in a competitive environment. After generation, the electricity needs to be delivered to the electrical system nodes where demand requires it, taking into consideration transmission constraints and electrical losses. If the amount of power flowing through a certain line is close to or surpasses the safety limits, then cheap but distant generation might have to be replaced by more expensive closer generation to reduce the exceeded power flows. In a congested area, the optimal price of electricity rises to the marginal cost of the local generation or to the level needed to ration demand to the amount of available electricity. Even without congestion, some power will be lost in the transmission system through heat dissipation, so prices reflect that it is more expensive to supply electricity at the far end of a heavily loaded line than close to an electric power generation. Locational marginal pricing (LMP), resulting from bidding competition, represents electrical and economical values at nodes or in areas that may provide economical indicator signals to the market agents. This article proposes a data-mining-based methodology that helps characterize zonal prices in real power transmission networks. To test our methodology, we used an LMP database from the California Independent System Operator for 2009 to identify economical zones. (CAISO is a nonprofit public benefit corporation charged with operating the majority of California’s high-voltage wholesale power grid.) To group the buses into typical classes that represent a set of buses with the approximate LMP value, we used two-step and k-means clustering algorithms. By analyzing the various LMP components, our goal was to extract knowledge to support the ISO in investment and network-expansion planning.

Transparency in project bond ratings: Assessment of rating methodologies and development of a proven rating simulator

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Rebuild Iowa Office Quarterly Report, July 2009

The RIO’S 90-page July Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, October 2009

The RIO’S October Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, January 2010

The RIO’S January 2010 Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, April 2010

The RIO’S April 2010 Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, July 2010

The RIO’S July 2010 Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, October 2010

The RIO’S October 2010 Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart growth; mitigation planning; floodplain and watershed management; floodplain mapping; quality of life; and emergency management.The report also includes an updated selection of charts showing the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.

Rebuild Iowa Office Quarterly Report, January 2011

The RIO’S January 2011 Quarterly Report details the economic recovery strategy in housing; business; workforce development; infrastructure investments; individual services and guidance; local economic recovery; smart planning; mitigation planning; floodplain and watershed management; floodplain mapping and quality of life. The report also includes an update of the flow of federal and state disaster recovery funding to the state, counties, cities and individuals affected by the 2008 disasters.