If having firm-driven renegotiations of contracts for infrastructure services is a major concern, efficiency should not be the only consideration in selecting an operator, indeed, consumers may want to award the concession to a less efficient firm if that would reduce the probability of...

When Brazil's Federal Railway was privatized, the team in charge of privatization made a significant effort to complement the incentive for voluntary reduction with an elaborate menu of training options. How did it work?

Reforms to make infrastructure services more competitive and to provide strong and independent economic regulation of natural monopolies create an environment more conducive to private sector participation in infrastructure investments, efficiency savings that can be passed on to consumers, and...