Exchange Rate Risk : Allocating Exchange Rate Risk in Private Infrastructure Projects

• Tác giả: Philip Gray
• Ngôn ngữ: eng
• Ký hiệu phân loại: 332.45 Foreign exchange
• Thông tin xuất bản: World Bank, Washington, DC, 2012
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 311940
• Chủ đề: 1. ADJUSTMENT MECHANISMS; 2. ADVERSE EFFECT; 3. BUDGET DEFICITS; 4. CAPITAL MARKETS; 5. COMMUNICATIONS DEVELOPMENT

Tóm tắt

Each year developing countries seek billions of dollars of investment in their infrastructure, and private investors, mostly in rich countries, seek places to invest trillions of dollars of new savings. Private foreign investment in the infrastructure of developing countries would seem to hold great promise. But foreign investors must cope with volatile developing country currencies. Many attempts to do so have created as many problems as they have solved. This note proposes that investors take on all financing-related exchange rate risk, even though this may mean higher tariffs for consumers as a premium for bearing that risk.