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Back Matter

Back Matter

Author(s):
Ana Corbacho, Katja Funke, and Gerd Schwartz
Published Date:
July 2008
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    Index

    Compiled by Sue Cartton

    accounting and reporting 97–100, 101, 130, 134, 235–9, 245, 249–54, 267–8

    • accrual accounting 65, 112–13

    • guidance 250–3

    • see also Eurostat, guidance on PPP accounting

    Accounting Standards Board (South Africa) 112, 253

    Accounting Standards Board (UK) 250–1

    acquis communautaire 39–40

    Albania, and concessions law 166

    Alföld Koncessziós Autópálya (AKA-Hungarian Motorway Concession) 288

    Andres, L. 204–5, 207, 212, 213

    Aréna Üzemelteto Rt. 291

    Argentina, transport and telecommunications 204

    Aschauer, D.A. 14–15, 16–17, 39

    Athens International Airport 175, 298

    auditing 269–78, 279–84, 285–93, 297–8

    • see also under Hungary; Portugal; United Kingdom

    Australia 95, 100, 114, 115

    • accounting 100, 112–13, 237, 238

    • long-term fiscal projections 111

    Austria 23

    Authority Voluntary Termination 194

    availability payments 105, 110–11, 113, 182

    • see also unitary charges

    Azerbaijan, concessions law 168

    Báger, G. 285–94

    balance sheet see government balance sheet

    Banerjee, A. 204

    Belarus, and concessions law 168, 171

    Belgium 23

    benchmarking 274–8

    Bergvall, D. 228–31

    bilateral negotiation 213, 215–16, 224

    Blanchard, O. 26

    Boardman, A. 204

    Brazil 94, 95, 114

    Budapest Sports Arena (BSA) 290

    budgeting 61–75

    • budget adjustments 73–4, 75

    • budget calendars 68–70, 75

    • consolidated budget management 63–4, 74

    • constraint/ceilings 65–6, 75, 244

    • cost estimates 64–5, 69–70, 71, 72–3

    • determining scope of public investment 66

    • implementation of projects 71–4

    • medium-term budget focus 64–5

    • planning processes 68–70, 75

    • resource allocation decisions 62–7, 79

    • rules and regulations 70–1

    • selection of projects 67–71, 75

    • see also government spending commitments

    build-operate-transfer (BOT) 162, 199

    build-own-operate (BOO) 199

    Building Schools for the Future 189

    Bulgaria

    • and concessions law 168

    • and EU transfers 54

    Business Services Association (BSA) 189

    Central and Eastern Europe, concessions law 164–71

    Chong, A. 204

    Christiansen, H. 143–61

    Cohesion Fund 54, 55, 173, 175, 182, 184, 185, 297

    commitments see government spending commitments

    Committee of Monetary, Financial, and Balance of Payments Statistics (CMFB) 258

    Commonwealth of Independent States (CIS), and concession law 171

    competition 38, 93, 151–2, 156, 160, 176

    competitive bidding 93, 176, 181, 215–16, 221, 290

    • see also tendering process

    Competitive Dialogue 174, 184, 273, 274

    concession fees 98, 236, 266

    concessions 199–200, 229, 261–2

    • see also public-private partnerships (PPPs)

    concessions law 163–6

    • measuring effectiveness of 167–71

    contracting out 107–8

    contracts 147, 155–8, 159, 191

    • awarding 215–16

    • renegotiation 130, 197–8, 213–23, 225, 230–1, 291

      • see also renegotiation

    Copenhagen Package, Financial Perspectives 53–5, 56

    Corbacho, A. 1–7, 85–104

    corruption 38, 146, 151, 159, 219

    Corruption Perceptions Index (CPI-Transparency International) 38

    cost estimates 64–5, 69–70, 71, 72–3

    • operation and maintenance costs 73, 74, 75

    cost-benefit analysis (CBA) 68, 69, 70, 74, 92, 145, 148, 208

    Council of Europe Development Bank (CEB) 184

    Credit Guarantee Finance 195

    Croatia, and concessions law 171

    Cyprus 51–2

    • education spending 44

    • and EU transfers 53

    • fixed investment levels 41

    Czech Republic 32, 43, 52

    • and concessions law 168

    • and EU transfers 53, 56

    • fixed investment levels 41

    • R&D expenditure 45

    • road infrastructure 39–40

    de Haan, J. 11–20, 39

    de Rougemont, P. 256–68

    debt sustainability analysis (DSA) 85, 99–100, 101, 243–4

    Deloittel73, 179, 182

    Demetriades, P.O. 39

    Denmark 23

    design-build (DB) 189, 247, 250

    design-build-finance-operate (DBFO) 86, 162, 246, 248, 290

    DG REGIO (Directorate-General for Regional Policy) 175, 183, 184

    direct adjudication 215, 224

    disclosure requirements 97–9, 125–6, 136–7, 139, 147, 239, 240, 241, 242

    donor funds 63–4

    due diligence 147, 155, 159

    economic growth

    • growth theory 36–7, 57–8

    • and technological progress 37

    ECORYS 175

    education, expenditure on 44, 57–8

    electricity 199, 200–4, 208, 209, 211

    Escobal, J. 211

    Estonia

    • and concessions law 165

    • fixed investment levels 41

    EU (European Union)

    • accession, influence on public investment 36, 46, 51–2, 58

    • budgetary framework 46–53, 57, 58

    • fiscal monitoring 256–8

    • grants 173–85, 230, 297–8

      • and fiscal risk 178–9

      • leverage and incentives 178

      • models for PPP-grant blending 179–82

      • rules and guidelines 173–4, 175–6, 182–5

      • and value for money (VfM) 177–8

    • transfers 53–7, 80–1

    EU8 see new member states (NMS)

    European Agricultural Fund for Regional Development (EAFRD) 54

    European Agricultural Guidance and Guarantee Fund (EAGGF) 54

    European Bank for Reconstruction and Development (EBRD) 162–3, 183

    • concessions law assessment 163–6

    • Legal Indicator Survey 167–71

    European Commission (EC) 26, 176, 183, 297

    European Court of Auditors (ECA) 297,298

    European Economic and Monetary Union (EMU)

    • fiscal rules 21, 25, 26–8, 33, 81

    • and golden rule 49–50

    European Fisheries Fund (EFF) 54

    European Free Trade Association (EFTA) 261

    European Investment Bank (EIB) 78, 88, 174, 176, 183, 184, 298

    European Regional Development Fund (ERDF) 173

    European Social Fund (ESF) 54

    European System of Accounts (ESA) 31, 80, 256, 295, 296

    • ESA 95 principles 259–61

    • interpretations of ESA 95 256, 257, 258

    Eurostat

    • and balance sheet treatment of PPPs 97, 130, 133, 238, 239, 285

    • classification of public investment 31

    • guidance on PPP accounting 112, 251–2, 256–68

    • role in EDP 257–8

    Eurostat Decisions 97, 258, 260, 261, 262, 264, 266

    excessive deficit 46, 48, 51, 52–3, 58

    Excessive Deficit Procedure (EDP) 48, 58, 256, 257–8, 259, 266

    extra-budgetary funds (EBFs) 64

    Farquharson, E. 187–96

    Fernald, J. 12

    FERTAGUS (Cross-Tagus Suburban Rail Passenger Service) 129

    Finance Instrument for Fisheries Guidance (FIFG) 54

    Financial Accounts Working Party 258

    Finland 23

    fiscal monitoring 110–11, 256–8

    fiscal risks 75, 85–101, 136, 178–9, 247–9

    • and accounting approaches 250–3

    • assessment 121–2, 137

    • availability risk 88, 97, 133, 238, 239, 246, 248, 263–4, 267

    • and characteristics of public service 119–20, 138

    • construction risk 263

    • and cost-benefit analysis 148

    • demand risk 129–30, 264

    • and ESA 95 principles 259–61

    • and EU grants 176

    • exchange rate risk 152

    • and lack of long-term budgetary framework 121

    • management of 67, 91–100, 122–30

    • Portuguese experience 118–31

    • renegotiation risk 130

    • risk allocation 91, 120, 147, 149–50, 218, 270, 292

    • risk analysis 119, 126–7, 130, 252, 265

    • risk sharing 89, 100–1, 120, 127, 133, 149, 162, 174, 239, 295

    • risk transfer 86–7, 89, 97, 134, 145, 149–50, 237, 264, 267

      • and value for money (VfM) 176–7, 195, 246, 248

    • types/examples of risk 88, 90–1, 128–30, 263–4

    France 175

    free-riding behavior 38, 118, 131

    Funke, K. 1–7

    Galí, J. 26

    gateway process 94, 95, 96, 119, 122–4, 138

    generally accepted accounting principles (GAAP) 112

    Giavazzi, F. 26

    golden rule 36, 46, 49–50, 133, 134

    Goldsmith, H. 173–86

    government balance sheet 29, 87, 98, 112, 188, 236–8, 240, 259, 262, 264–5, 266–7

    • off balance sheet 77, 78–9, 85, 89, 97, 100, 130, 133, 150, 174, 229, 235, 265, 267, 295

    • on/off balance sheet (binary approach) 130, 133, 134, 239

    government spending commitments 105–15, 137–8, 200

    • and fiscal monitoring 110–11, 256–8

    • imposing limits on 114–15, 137

    • procedural controls on 113–14, 119, 122, 174

    • reporting of 112–13, 136–7

    • see also budgeting

    Greece 23, 30, 175, 185

    Guasch, J.L. 197–227

    Hathorn, M. 245–55

    Hemming, R. 174–5, 235–44

    Holtz-Eakin, D. 12

    hospitals 66, 90, 192, 279

    human capital 11, 31, 37–8, 39, 43, 49

    Hungary 43, 51, 52, 91, 113, 114, 132, 285–6

    • and concessions law 166, 170, 171

    • and EU transfers 53

    • fixed investment levels 41, 43

    • motorway projects 288–90, 292

    • PPP audits 285–93

      • and NAO methodology 292

      • and State Audit Office 286–92, 293

    • road infrastructure 39–40

    infrastructure

    • and economic growth 11, 16, 18, 197, 199

    • lifespan 13

    • maintenance 17–18

    • and productivity 12–13

    • and subsidization 149

    infrastructure gap 78, 173

    infrastructure investment 12, 21, 31–2, 33, 39–40, 78, 228

    • and international investors 143–4

    • and PPP arrangements 89, 246–50

    • private sector participation 143, 162, 197, 198–204, 235

    • OECD principles 144–61, 228

    Instrument for Structural Policies for Pre-Accession (ISPA) 54

    International Accounting Standards Board (IASB) 268

    International Federation of Accountants (IFAC) 134, 238

    International Financial Reporting

    Interpretations Committee (IFRIC) 252–3

    International Financial Reporting Standards (IFRS) 112–13, 259

    International Labor Organization (ILO) 153

    International Monetary Fund (IMF) 97–9, 112, 125, 229, 241, 257

    International Public Sector Accounting Standards Board (IPSASB) 112, 238, 245–54, 268

    International Public Sector Accounting Standards (IPSAS) 100, 112, 113, 250, 259

    investment (gross fixed capital formation) 40–3

    • housing construction 41, 43

    • machinery, metal and transport equipment 41, 58

    Ireland 23, 46, 47

    Irwin, T. 105–17

    Italy 175

    Jamaica, transport and

    • telecommunications 204

    Jevčáak, A. 36–60

    Johnson & Kramarik 175, 182

    Joint Assistance to Support Projects in European Regions (JASPERS) 183–4, 185

    Joint European Support for Sustainable Investment in City Areas (JESSICA) 184, 185

    Kalaitzidakis, P. 17

    Kalyvitis, S. 17

    Kamps, C. 17, 23, 77–9

    Kazakhstan, and concessions law 171

    Keereman, F. 36–60

    Kiss, G.P 132–5

    knowledge generation, and economic growth 44–6

    KPMG 189

    Kyrgyz Republic, and concessions law 168, 170, 171

    La Porta, R. 204

    Latin America 198–226, 229

    • electricity distribution 200–4, 208, 209, 211

    • fiscal impact 210

    • impact on consumers 211

    • measuring impact on infrastructure 204–7

    • public opinion 223–4

    • renegotiation 213–23, 231

    • telecommunications and transport 208, 209, 211

    • water and sewerage 208–10, 211

    Latvia 32, 43, 49

    • and concessions law 165

    • and EU transfers 53, 54

    • fixed investment levels 41

    Leahy, P. 269–78

    leases 113, 114, 133, 236, 237–8, 251, 259–60, 262

    Legal Indicator Survey (LIS) 167–71

    leverage 151, 159, 176, 178, 182, 198, 213, 214, 218, 248

    Lithuania

    • and concessions law 164, 165, 166, 168

    • and EU transfers 53, 54

    • fixed investment levels 43

    Local Improvement Finance Trust (LIFT) 189

    London University College Hospital 90

    long-term service contracts 105, 106, 111, 113, 118, 261–6

    • see also public-private partnerships (PPPs)

    López-de-Silanes, F. 204

    Lovely, M.E. 12

    lowest value of subsidy 175

    Lusoponte Concession 279

    Maastricht Treaty 26, 238, 239, 256, 295, 296, 297

    Machado, F. 279–84

    Malta 43, 51, 52

    • fixed investment levels 41, 43

    • R&D expenditure 45

    Mamuneas, T.P 39

    Manual on Government Deficit and Debt (MGDD) 251, 257, 258, 260, 261, 262, 263, 264–6

    market testing 274–8

    matrix approach to value for money (VfM) 269–78

    medium-term framework 138

    • medium-term budget framework (MTBF), medium-term expenditure framework (MTEF), and medium-term budgeting 49, 64–5, 68, 71, 74, 99, 119, 137

    • medium-term fiscal framework 92, 111

    Megginson, W. 204

    Mehrotra, A. 22, 23, 26–7

    Mexico, transport and telecommunications 90–1, 204

    Middle East and North Africa (MENA) 161

    Millennium Declaration 143

    Ministry of Finance (MOF) 64, 65, 66

    Moldova, and concessions law 170

    Mongolia, and concessions law 168, 171

    Monteiro, R.S. 118–31

    Montenegro, and concessions law 170

    Mršnik, M. 136–9

    multi-year budget estimates 65, 71

    National Audit Office (NAO-United Kingdom) 269–78, 292

    National Health Service, Local Improvement Finance Trust (NHS LIFT) 189, 193

    national standards setters (NSS) 254

    Netherlands 23

    Netter, J. 204

    new member states (NMS) (EU8)

    • and EU funds 80–1

    • public capital stock 24–5, 39–43

    • public investment 22, 23–5, 36–58, 78

      • composition of 31–3, 40–4

      • and knowledge generation 44–6

    • road infrastructure 39–40

    New Partnership for Africa’s Development (NEPAD) 161

    New Zealand 95, 114

    • long-term fiscal projections 111

    OECD (Organization for Economic Cooperation and Development) 229

    • policy tools and guidance 144, 150, 152, 158–9

    OECD Principles for Private Sector Participation in Infrastructure 144–7, 228

    • deciding on public or private provision 145, 148–50

    • and enabling institutional environment 145–6, 150–2

    • encouraging responsible business conduct 147, 158–60

    • goals, strategies and capacities 146, 153–5

    • implementation of 160–1

    • making public-private cooperation work 146–7, 155–8

    Office of Government Commerce (OGC) 192

    Official Journal of the European Union (OJEU) 193, 194

    P5 (five pillars of Portuguese audit system) 281

    Palace of Arts (Hungary) 291–2

    Patient Environment Action Teams 192

    Perée, E. 21–35

    Perez, B.G. 176

    Perotti, R. 26

    Peru 211

    Philippines 95

    Poland 51–2, 80

    • fixed investment levels 41

    Poland-Hungary Assistance for the Restructuring of the Economy (PHARE) 54

    Portugal 23, 29, 30, 46, 47, 90, 118–19, 129–30, 175, 185

    • Budgetary Framework Law 119, 125

    • Court of Auditors 130, 279, 280–3

    • EFTA Industrial Development Fund liquidation payment 261

    • gateway process 122–6

    • National Road Plan 279

    • PPP audits 279–84

      • methodology 280–2

      • practice 282–4

      • proactive oversight 283–4

    PricewaterhouseCoopers (PwC) 179

    Private Finance Initiatives (PFIs) 113, 174, 175, 187–95, 228, 229, 231

    • improving operational performance 189–93

    • improving procurement 193–4, 195

    • Operational Taskforce 191, 192, 193

    • role of private finance 194–5

    • and tendering process 272–4

    • and value for money (VfM) 187, 188, 189–95

    Private Finance Units 192, 194

    privatization 162, 198–200, 204–7, 212–13, 223–4, 247, 250

    production function 12, 15, 18

    Professional Organization of Supreme Audit Institutions (INTOSAI) 281

    Project Review Group 194

    projects

    • delays 72

    • and errors 128

    • implementation of 71–4

    • selection of 67–71, 87–8, 128

    public capital

    • decline in expenditure 14, 16

    • and economic growth 11–18, 39

      • empirical research 14–18, 39

      • measurement 13–14, 15–16

      • reverse causality 17

      • role of public capital 11–13

    • impact of public investment 23, 24–5, 28, 31–2, 33

    • NMS and 39–43

    public investment

    • composition/classification of 21–2, 30–3

    • definition of 21

    • determinants of 21–30

    • and economic theory 36–9, 57–8

    • and EU accession 36, 46, 51–2, 58

    • in the EU budgetary framework 46–53, 57, 58

    • evolution of 21, 22–5, 33

    • and government borrowing 52–3

    • impact of EMU’s fiscal rules 21, 25, 26–8, 33

    • impact of PPPs 25–6, 28–30

    • impact on public capital stocks 23, 24–5, 28, 31–2, 33

    • and knowledge generation 44–6

    • and new member states (NMS) 22, 23–4, 31–3, 36–58, 78

    • problems associated with 38–9

    • rationale for 37–8

    • relation to EU transfers 53–7, 58

    • relation to private investment 53, 58

    • and user-financing 66

    • see also infrastructure investment

    Public Private Infrastructure Advisory Facility (PPIAF) 179

    public sector comparator (PSC) 119, 123–5

    public-private partnerships (PPPs) 228–9

    • accounting see accounting and

      • reporting; auditing; budgeting;

      • government balance sheet;

      • government spending commitments

    • and administrative capacity and

      • competence 146, 153–4, 230

    • balance sheet approaches see

      • government balance sheet

    • benefits of 248–9

    • bypassing fiscal controls 85, 89, 91, 94, 97, 106, 118, 133

    • and character of operator 265

    • commitments see government spending commitments

    • comparison with publicly financed projects 107–10, 133–4, 137

    • compensation provisions 248

    • and competition 93, 151–2, 156, 160, 176

    • consultation/communication 29, 146, 153, 160, 226

    • contract/concession design 211–13, 217, 218–19, 224–5

    • definitions of 85–7, 229, 235, 245–6, 252, 253, 261–2

    • and efficiency 63, 88, 89, 100, 134–5, 152, 174

    • guarantees 98–9, 136–7, 150, 152, 175, 200, 236–7, 239–42, 243

    • impact on public investment 25–6, 28–30

    • implementation of projects 71–4

    • institutional framework 93–6, 101, 130–1, 136, 137, 138, 145–6, 150–2, 229–30

    • Latin American experience 198–226, 229

    • legal framework 93, 101, 161–71, 229–30, 266, 281, 282, 285–6

    • life cycle 269–70

    • non-economic risk 253

    • and overall policy programs 146, 154–5

    • permits/licenses 128–9

    • and public investment planning 92–3

    • regulation 211–13, 218, 225–6, 266

    • and responsible business conduct 147

    • return of assets to government 265–6

    • and risk see fiscal risks

    • rules 262–3

    • specialized assets 134

    • and statistical assessment 267–8

    • at sub-national level 131, 136, 138

    • types of arrangements 162, 246–8, 251, 253

    • weaknesses of 132–3

    • see also concessions

    Ramallo Massanet, J. 297–8

    Ramamurti, R. 204

    Rendezvénycsarnok Rt. 290–1

    renegotiation 130, 197–8, 213–23, 225, 230–1, 291

    • determinants of 217–20

    • initiators of 217

    • justifiable use of 220–3

    • opportunistic 221–3, 230–1

    • outcomes 219–20

    repurchase agreements (repos) 259, 260

    research and development (R&D)

    • and economic growth 37, 57–8

    • expenditure on 44–6

    risk see fiscal risks

    road infrastructure 12, 39–40, 279

    Romania

    • and concessions law 168

    • education spending 44

    • and EU transfers 54

    Romp, W. 16, 39

    Ros, A. 204

    Rosenberg, C. 80–1

    Russia, and concessions law 170

    sanitation 199, 211, 214–15

    Sarraf, R 64

    Schwartz, G. 1–7, 85–104

    securitization 259, 260

    Seregélyes, K. 295–9

    service concession arrangements 162–3, 245–54

    • see also concessions; public-private partnerships (PPPs)

    sewerage 208–9

    Slovak Republic 32, 43, 51, 52

    • and concessions law 168

    • fixed investment levels 41

    Slovenia

    • and concessions law 168

    • and EU transfers 53, 56

    Solow model 36–7, 39, 40, 44

    South Africa

    • accounting 112, 253

    • gateway process 94, 95, 96, 113

    South Tagus light-rail system 129

    Spain 267

    • desalination plants 298

    Special Accession Program for Agriculture and Rural Development (SAPARD) 54

    special purpose public-private partnerships (SPPPPs) (SP4) 134

    special purpose vehicle (SPV) 86, 101, 265

    Stability and Convergence Programs 48, 58

    Stability and Growth Pact (SGP) 26, 36, 46–9, 51, 55–6, 58, 80, 106, 174

    State Aid rules 183

    State Audit Office (SAO) (Hungary) 286–92

    Statement of Assurance (DAS) 297, 298

    structural funds 54, 55, 80, 182, 184

    Sturm, J.E. 11–20

    Supreme Audit Institutions (SAIs) 298

    • Portugal 279, 280, 281, 282

    Sweden 23

    System of National Accounts (SNA) 31, 77, 78, 256, 257

    Tagus, River 279

    Tajikistan, and concessions law 168, 170, 171

    Tandberg, E. 61–76

    telecommunications 199, 200, 202, 204, 208, 214

    tendering process 156, 272–4

    • see also competitive bidding

    Ter-Minassian, E. xxvi-xxvii

    Torero, M. 211

    Trans European Networks (TENs) 173, 182

    transport 12, 13, 30, 38, 41, 200, 204, 208, 215, 279

    Tribunal de Contas (TC-Portuguese Court of Auditors) 130, 279, 280–3

    Turrini, A. 26

    Ukraine, and concessions law 170

    unitary charges 175, 178, 180

    • see also availability payments

    United Kingdom 29, 30, 49, 94

    • accounting 100, 112, 237, 238, 248–9, 250–1

    • availability payments 113

    • long-term fiscal projections 111

    • PFI projects 187–95

    • PPP auditing framework 269–78

    • tendering process 272–3

    United Nations (UN) 144

    • Commission on International Trade Law (UNCITRAL) 163

    • Convention Against Bribery 159

    • Convention Against Corruption 159

    • System of National Accounts (SNA) 31, 77, 78, 256, 257

    United States

    • highway system 12

    • long-term fiscal projections 111

    • public investment and productivity 14–15, 16–17, 39

    Uzbekistan, and concessions law 168, 170, 171

    Välilä, T. 21–35

    value for money (VfM) 88, 92, 100, 176–8, 235, 246, 248–9, 295–6

    • and ECA audits 297

    • and institutional framework 94, 95

    • matrix approach 269–78

    • and off budget recording 97, 101

    • and PFIs 187, 188, 189–95

    value testing 274–8

    Vasco da Gama Bridge, Portugal 175, 176, 298

    Vector Auto-Regression (VAR) 15

    Venezuela, transport and telecommunications 204

    venture capital 38

    Vining, A.R. 204

    Ward, R. 11–20

    water 161, 199, 200, 203, 204, 208–9, 211, 214–15

    World Bank 11, 40

    • Knowledge Economy Index 44

    • Knowledge Index 44

    Zverev, A. 162–72

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