Granting and Renegotiating Infrastructure Concessions: Doing it Right

Little over a decade ago, infrastructure concessions promised to solve Latin America's endemic infrastructure deficit. Awarded in competitive auctions, these concessions were supposed to combine private sector efficiency with rent dissipation brought about by competition. Yet something did not go quite right, as concessions were plagued with opportunistic renegotiations, most of them at the expense of taxpayers.

Granting and Renegotiating Infrastructure Concessions is a major contribution towa…