The Determinants Of Performance In Building Infrastructure In Transition Economies

The authors investigate how contract specificities affect the performance of municipal infrastructure projects in transportation, district heating, water, waste water and solid waste. Using data from projects financed by the European Bank for Reconstruction and Development (EBRD), they look at the effect of involving private parties with different degrees of risk, and involving public parties other than the respective municipality. In particular, central authorities may provide a sovereign guarantee for the funds lent by the Bank.