Abstract
Private investment in developing country infrastructure has grown rapidly in the last decade, yet hazards still exist that may undermine the stability of investment projects. This article reviews data and surveys recent cases that underscore the emergent threats faced by companies seeking to develop and manage infrastructure projects. Using a framework to classify the multiple roles of government in both facilitating and impeding investment, it proposes strategies for investors and developers to assess and mitigate these continuing risks. Its recommendations include leveraging international agreements, drawing on multilateral project finance, pursing first-mover positions and engaging all relevant stakeholders. The paper concludes by drawing implications for management research and practice.
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