Table des matières

Paul Boghossian

Preface

Executive Summary

Some Key Conclusions

1. Infrastructure, Performance and Economic Growth

2. Investable Infrastructure Assets

3. Infrastructure Attributes and Problems of Market Failure

• 3.1 Economies of Scale
• 3.2 Capital-intensity
• 3.3 Long-lived Immobile Assets
• 3.4 Serving General Public Goals
• 3.5 Sustainability
• 3.6 The Broader Implications

4. Legal Structures and Frameworks

• 4.1 Land as a Key Issue in Network Infrastructure
• 4.2 Ownership
• 4.3 Regulation of Pricing
• 4.4 Labor Relations
• 4.5 Public Health and Safety
• 4.6 Environmental Regulation

5. Beyond Economics: Governance and Infrastructure Development

6. The Global Infrastructure Development Sector

7. Infrastructure Finance

8. Structuring the Financial Mosaic

9. Identification and Mitigation of Project-related Risks

10. Intermediating Infrastructure Finance: Market Contours

• 10.1 Changing Sponsors and Infrastructure Funds
• 10.2 The Market for Project and Infrastructure Debt
• 10.3 The Key Role of Commercial Lending
• 10.4 The Infrastructure Bond Market
• 10.5 Project and Infrastructure Debt Market Evolution

11. Establishing Robust Markets for Infrastructure-backed Securities

• 11.1 Primary Markets for Infrastructure-backed Securities
• 11.2 Secondary Markets for Infrastructure-backed Securities

12. Infrastructure Equity as an Asset Class

13. Project and Infrastructure Debt as an Asset Class

14. Portfolio Optimization: Institutional Investors and Asset Managers

15. Accelerating Infrastructure Finance

• 15.1 Recap
• 15.2 There Is No Alternative to Robust Debt Markets
• 15.3 Banking pressures
• 15.4 Infrastructure Finance Expertise
• 15.5 Liquidity issues
• 15.6 Lack of Viable Infrastructure Projects

16. Some Solutions

References

Contributors

• Working Group on Infrastructure Finance Stern School of Business, New York University
• Contributors’ Bios