We will assess how governance and incentive problems contributed to Enron's rise and fall. A well-functioning capital market creates appropriate linkages of information, incentives, and governance between managers and investors. This process is supposed to be carried out through a network of...

It is often assumed that government intervention is required to bring to fruition large scale infrastructure projects because the large initial capital outlays such projects require must be funded from the public purse. In Wheels of Fortune, Fred Harrison shows that large scale infrastructure...

The aviation sector has mixed impacts on economic development and environmental degradation. Market instruments and regulations are not always sufficient to balance these conflicting demands. Stakeholder engagement has been recognised as a possible non-market and non-regulatory mechanism that...

This paper addresses the effects of environmental contamination and positive amenities on proximate residential real estate property values in the United States. Contamination sources include leaking underground storage tanks, superfund sites, landfills, water and air pollution, power lines,...

1995-ben a kormány három fontos privatizációs ígéretét teljesítette: elindította az energetika-infrastruktúra nagy cégeinek eladását, a bevételekben mérve gyorsította a privatizációt, és növelte a készpénzbevételek részarányát a kedvezményes-ingye- nes elosztáshoz...

Private operation of port facilities is becoming increasingly common worldwide and many governments consider the privatization of public ports as a policy option. We investigate the effect of port privatization in a setting with two ports located in different countries, serving their home market...

This paper examines the conditions allowing for the formation of aeropolitan areas as large industrial areas with a high concentration of commercial activities in the proximity of cargo airports. When firms deliver part of their production by plane, land competition takes place among service...

We investigate the impact of the Golden Quadrilateral (GQ) highway project on the Indian organized manufacturing sector using enterprise data. The GQ project upgraded the quality and width of 5,846 km of roads in India. We use a difference-in-difference estimation strategy to compare non-nodal...

One of the markets not long ago closed and completely regulated is now in the growing process of liberalization and deregulation: it is the utilities market we refer to (water, sewege, gas, electricity, waste collection). The deregulation of a market is usually followed by the appearance of...

The seven essays in this volume address different issues related to green and innovation procurement as well as more general challenges in public procurement. These studies address both general, abstract problems of optimal public procurement and concrete cases of national or even local public...