The economics of large-scale infrastructure FDI: The case of project finance

@article{Sawant2010TheEO,
  title={The economics of large-scale infrastructure FDI: The case of project finance},
  author={Rajeev J. Sawant},
  journal={Journal of International Business Studies},
  year={2010},
  volume={41},
  pages={1036-1055}
}
  • Rajeev J. Sawant
  • Published 2010
  • Business
  • Journal of International Business Studies
  • In this paper a theoretical framework is developed to explain why multinational enterprises invest in infrastructure through the mode of project finance (PF) instead of using corporate finance. Infrastructure assets are susceptible to creeping expropriation from host governments, and to hold-up from concentrated suppliers/buyers. Corporate finance-based foreign direct investment (FDI) cannot fully mitigate these threats. However, PF-based FDI through strategic use of capital structure – chiefly… CONTINUE READING

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