Transactions Costs in Private Infrastructure Projects--Are They Too High?
Author: Michael Klein, Jae So, and Ben Shin Date: 10/1/1996 (PDF, 200KB)
While the number of private infrastructure projects continues to grow, tales of endless delays and exorbitant development costs still scare both developers and governments. Michael Klein, Jae So, and Ben Shin show that these costs are related not to project size but to the familiarity and stability of the policy environment. As governments gain experience and clarify policy, these costs will inevitably fall.