Unlocking Private Investment in Sustainable Infrastructure in Asia

Cover
Half Title
Series Information
Title Page
Copyright Page
Table of Contents
Figures
Tables
Contributors
Foreword: Minister of Uzbekistan
Foreword: ADBI/CAREC Institute
Introduction
Part I Assessing the Impacts of Investments and the Future of Sustainable Infrastructure
1 Infrastructure Investment and Managerial Oversight: A Pathway to Regional Growth
1.1 Introduction
1.2 Essential Challenges in City Infrastructure: Collision of Cities and Cars in a Vicious Circle
1.2.1 Interrelation Between Highway and Transit Travel
Policy I: Incentives to Use Transit
Policy II: Disincentives to Use Cars
1.2.2 Conflicting Policy Decisions On Investment Activity: Highway Vs. Transit
1.2.3 Policy Implementation: A Systematic Interplay of Control Mechanisms
1.3 Managerial Strategy and Performance Appraisal for Growth Management
1.3.1 Differentiation Between Value Creation Vs. Destruction Projects in Infrastructure Investment
1.3.2 Differentiation Between Return On Scale Vs. Return On Quality in Infrastructure Investment
1.3.3 Value Destruction Vs. Countermeasure: A Better Governance
1.4 Common Mistakes in Policy Making and Capital Deployment
1.4.1 Managerial Oversight and Misused Subsidy in Infrastructure Investment
1.4.1.1 Mutually Conflicting Policies and Investment Offset
1.4.1.2 Debt Transfer Scheme
1.4.2 Administrative Burden and Hazard of Agency Cost in Infrastructure Investment
1.4.2.1 US Passenger Rail Case Study: New York Regional Rail System
1.4.2.2 Russian Federation Intermodal Balanced Transportation System: Moscow Public Transportation
1.5 Conclusion
Acknowledgments
References
2 Transition Pathways for Central Asian Energy Infrastructure
2.1 Introduction
2.2 Background
2.2.1 Central Asian Energy Trade
2.3 Emerging Challenges
2.3.1 New Opportunities
2.3.1.1 Renewable Electric Power Generation
2.3.1.2 The Hydrogen Option
2.4 Transition Implications
2.5 Transition Pathways
2.6 Policy Support for Inclusive Regional Development: Renewable Energy Diffusion and the SDGs
2.6.1 SDG 1: No Poverty—Livelihoods and Energy
2.6.2 No Hunger—Agricultural Production and Food Security
2.6.2.1 Example: Renewable Energy Development Permits CAREC Natural Gas Reserves for Regional Agricultural Development
2.7 Conclusions and Policy Recommendations
Notes
References
3 Silk Road Smart Cities: Sustainable Growth and Recovery Drivers for Central Asia?
3.1 Is There a Central Asia Smart Cities Rationale?
3.2 Smart Cities as a Common Expression of Urban Modernization Across Central Asia
3.3 Quality Infrastructure as a Common Standard to Invest in Central Asian Cities
3.4 Conclusion: Rapidly Urbanizing Central Asia as a Common Space for Sustainability?
Notes
References
4 Infrastructure Needs and Cooperation in CAREC Countries: Perspectives From a Pan-Asian Natural Gas Trade Model
4.1 Introduction
4.2 Pan-Asian Natural Gas Trade Model: Structure and Implications
4.3 Energy Landscape and Infrastructure in CAREC Countries
4.4 Prospects for Intra-Region Natural Gas Trade in the CAREC Region
4.5 Conclusions and Policy Recommendations
Notes
References
5 Financing Infrastructure in Central Asia: The Water Sector
5.1 Introduction
5.2 Infrastructure Financing in Central Asia
5.3 Water Sector Financing: Review of the Current Situation in Central Asia
5.4 Rethinking Water Financing in Central Asia
5.5 Conclusions
5.6 Policy Recommendations
Note
References
6 Does Infrastructure Investment Lead to Economic Growth?: Evidence From Central Asian Countries
6.1 Introduction
6.2 Infrastructure: Definition and Measurement Issues
6.3 A Brief Snapshot of Infrastructure of Central Asia
6.4 Infrastructure Investment and Economic Growth: A Brief Review
6.5 Empirical Model and Data
6.6 Econometric Methodology
6.7 Empirical Findings
6.7.1 Findings From Unit Root Tests
6.7.2 Findings From ARDL Analysis
6.8 Conclusion
References
7 Three Models of Local Public Financing for Infrastructure Investment in the People’s Republic of China
7.1 Introduction
7.2 Local Infrastructure Investment On the PRC’s Agricultural Collectives
7.3 Land Financing
7.3.1 Rural Reform in the PRC
7.3.2 Land Financing
7.3.3 The 1993–94 Fiscal Reform
7.3.3.1 Land Transfer in the PRC and the Zhaopaigua Process
7.3.4 Local Government Financing Vehicles (LGFVs)
7.4 A Future Local Public Financing Model for the PRC
7.4.1 Need for an Alternative Model of Local Public Financing in the PRC
7.4.2 Property Tax in the UK
7.4.3 A Necessary Step for the PRC
7.5 Conclusion
Notes
References
8 Impacts of the Patterns of Financing On Logistic Infrastructure in CAREC Member Countries
8.1 Introduction and Scope of the Study
8.2 Changing in Global Patterns of Infrastructure Financing
8.3 Unlocking Private Investment in Sustainable Infrastructure Financing: Innovations and Strategies
8.4 Impacts of Private Investment: Alternative Models
8.5 Estimation Techniques
8.6 Estimated Results
8.7 Conclusions and Policy Implications
Notes
References
Part II The Role of Governments and New Models for Unlocking Private Investment in Sustainable Infrastructure
9 Private Financing for Water Infrastructure in Central Asia
9.1 Introduction
9.2 The Role of Water Infrastructure in Central Asia Development
9.3 Supplying Water to Central Asia
9.3.1 Climate Change and Its Impacts in Central Asia
9.3.2 Water Stress and Limitations of Geographical Landscape and Financing for Water Infrastructure in Central Asia
9.3.3 Regional Issues Affecting Water Infrastructure
9.3.4 Challenges of Attracting Private Financing On Water Infrastructure
9.4 Spillover Effects of Water Infrastructure Projects
9.4.1 Difference-In-Differences Method
9.4.2 Applying DiD to Water Infrastructure
9.5 Beyond Water Supply: Additional Recommendations Through the Utilization of Infrastructure Spillover Effects
9.5.1 City Infrastructure
9.5.2 Hometown Trust Funds to Promote Smes and Start-Up Businesses
9.5.3 Enabling Digital Literacy for Better Education
9.5.4 Land Trust for Water Infrastructure Development
9.5.5 Regional Collaboration and Sharing Tax Revenues Among Countries
Note
References
10 The Role of Government in Attracting Private Investment in Sustainable Infrastructure: Case of Foreign Direct Investment ...
10.1 Introduction
10.2 Literature Review and Hypotheses
10.2.1 Private Investment in Infrastructure and FDI
10.2.2 Review of Determinants of FDI in Transition Economy
10.2.3 Hypotheses
10.3 Methodology and Data
10.3.1 Data
10.3.2 Methodology
10.4. Analysis and Findings
10.4.1 Descriptive Statistics
10.4.2 Analysis of Autocorrelation, Heteroscedasticity and ANOVA Test
10.4.3 Findings in OLS and 2SLS Results
10.5 Conclusion and Discussion
References
11 Private-Public Partnerships in the Association of Southeast Asian Nations and CAREC and Their Scope for Renewable Energy ...
11.1 Introduction
11.2 The Challenge of Financing Future Energy Demand in the ASEAN and CAREC Countries and the Role of PPPs
11.3 Public-Private Partnerships in Renewables and Data Sources
11.4 Financing Infrastructure and Private-Public Partnership Trends in ASEAN and CAREC Since 2000
11.4.1 Worldwide, Private-Public Partnership Investments Dominate in the Energy Sector, Especially in Electricity
11.4.2 Private-Public Partnerships Investments in the Energy Sector, Especially in Electricity, Dominate in ASEAN and CAREC
11.4.3 Worldwide Largest PPP Investments
11.4.4 In ASEAN, the Largest Private-Public Partnerships Investments Go To Coal, Hydro, and Natural Gas Technology-Based ...
11.4.5 In the CAREC Program, the Largest Private-Public Partnerships Investments Go To Hydro, Coal, and Wind ...
11.4.5.1 Business Models of the PPP Projects for Solar, Wind, Hydro
11.5 Policy Implications and Challenges to Private-Public Partnerships and Renewable Energy Financing in the ASEAN and CAREC
11.5.1 Policy Implications Renewable Energy Financing Through Private-Public Partnerships
11.6 Conclusion
Notes
References
12 An Evidence-Based Approach to Infrastructure Development in Uzbekistan
12.1 Introduction
12.2 Literature Review
12.2.1 Notion of Infrastructure Capital and Performance of Enterprises
12.2.2 Methods for Analyzing
12.3 Methodology
12.3.1 Geographical Impact of the Railway Introduction
12.3.2 Timing of the Impact of Railway Introduction
12.4 Data
12.5 Results
12.6 Policy Implications
12.7 Conclusion
References
13 Government Initiatives to Unlock Private Participation in Infrastructure: Lessons From Indonesia’s Public–Private …
13.1 Introduction
13.2 Overview of Water Infrastructure Investment: Comparison Between Developing Asia and the Others
13.3 Quantitative Analysis of Government Initiatives On PPI
13.4 Lessons Learned From Indonesia’s Water Sector PPPs
13.5 Umbulan Drinking Water Supply System
West Semarang Drinking Water Supply System
Bandar Lampung Drinking Water Supply
13.5 Conclusion and Policy Recommendations
Note
References
14 Land Pooling: A Public–Private Partnership Model for Sustainable Infrastructure Investment in Delhi
14.1 Background
14.2 Introduction
14.3 Concept Study
14.3.1 Overview of Financing Alternatives for Urban Development in The Region
14.3.2 Assessment Framework
14.4 Identification and Designing of Instruments—Assimilation of Analysis
14.4.1 Assessing the Need for an Alternative to the Current Land Development Approach in Delhi
14.4.2 Land Pooling as a Cheaper Alternative
14.4.3 Land Trust and Spillover Effect
14.5 Empirical Analysis
14.5.1 Comparative Analysis of Delhi Land Pooling Policy With Different States
14.6 Conclusion
14.6.1 Empirical Findings - Delhi Land Pooling Policy Challenges
14.6.1.1 Statutory Law
14.6.1.2 Spotted Development
14.6.1.3 On-The-Ground Reality of Floor Area Ratio
14.6.2 Unwilling Payment of External Development Charges
14.6.3 Existing Value Capture Tools in Delhi
14.6.4 Appropriate Land Value Capture Tools for Delhi
14.7 Conclusion and Policy Recommendations - Establishing Land Value Capture Potential for Financing a Project
14.7.1 Implementing Urban Projects Through Land Value Capture
14.8 SITE 1—GHEVRA METRO STATION (ZONE—L)
14.9 SITE 2—BAWANA METRO STATION (ZONE—N)
14.10 SITE 3—NARELA METRO STATION (ZONE—P-1)
14.10.1 Conclusion
14.10.2 Recommendations and Policy Implications
Development-Based Land Value Capture Tools
14.10.2.1 Tax-Based Land Value Capture Tools
14.10.2.2 Fee-Based Land Value Capture Tools
References
15 Tax Incentives to Attract Private Investment in Infrastructure: The Indonesian Perspective
15.1 Introduction
15.2 The Role of Tax Incentives
15.3 Tax Holiday
15.3.1 The 2011 Tax Holiday
15.3.2 The 2015 Tax Holiday
15.3.3 The 2018 Tax Holiday
15.3.3.1 MoF Regulation 35/2018
15.3.3.2 MoF Regulation 150/2018
15.4 Evaluation of Tax Holiday
15.5 Tax Allowance
15.5.1 Development of Tax Allowance
15.5.2 Evaluation of Tax Allowance
15.6 Vat Exemption for Residential Buildings
15.7 Conclusion and Policy Recommendations
Note
References
Index