From Global Savings Glut to Financing Infrastructure: The Advent of Investment Platforms

By Rabah Arezki, Patrick Bolton, Sanjay Peters, Frederic Samama, Joseph Stiglitz

February 9, 2016

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Format: Chicago

Rabah Arezki, Patrick Bolton, Sanjay Peters, Frederic Samama, and Joseph Stiglitz. From Global Savings Glut to Financing Infrastructure: The Advent of Investment Platforms, (USA: International Monetary Fund, 2016) accessed November 8, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper investigates the emerging global landscape for public-private co-investments in infrastructure. The creation of the Asian Infrastructure Investment Bank and other so-called “infrastructure investment platforms” are an attempt to tap into the pool of both public and private long-term savings in order to channel the latter into much needed infrastructure projects. This paper puts these new initiatives into perspective by critically reviewing the literature and experience with public private partnerships in infrastructure. It concludes by identifying the main challenges policy makers and other actors will need to confront going forward and to turn infrastructure into an asset class of its own.

Subject: Asset and liability management, Economic sectors, Expenditure, Financial institutions, Infrastructure, Multilateral development institutions, National accounts, Privatization, Public investment and public-private partnerships (PPP), Sovereign wealth funds, Stocks

Keywords: Capital base, Cost of capital, Deal flow, Development bank, EBRD equity investment, EBRD investment process, Equity investment, Fund investor, G30, G38, Global, H49, H54, Infrastructure, Infrastructure investment, Investment boom, Investment risk, Investors in PPPs, Junker investment plan, Long-term investor, Private sector, Privatization, Public investment and public-private partnerships (PPP), Sovereign wealth funds, Stocks, WP

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2016/018
Stock No:

WPIEA2016018
ISBN:

9781475591835
ISSN:

1018-5941

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