Aspectos de governança, ambiente para negócios e o investimento privado no setor de energia de países em desenvolvimento

Abstract

Investiment in infrastructure is essential in promoting economic growth, due to its impact on the costs, productivity and competitiveness of an economy. During the 90s, the need to promote better quality and operational efficiency of infrastruture services in the context of growing public budget constraints led to greater private sponsorship of projects in infrastructure. Particularly in the energy sector, the projects involve a significant volume of resources directed to long-lived assets with low value in alternative uses, and risks associated with obsolescing bargaining and tariff manipulation by government officials. This paper provides empirical evidence that macroeconomic, political and institutional instability hinder private participation in the energy sector of developing countries.