TY - JOUR T1 - Establishing Sustainable Private Infrastructure in Emerging Markets JF - The Journal of Structured Finance SP - 53 LP - 63 DO - 10.3905/jsf.1999.320205 VL - 5 IS - 2 AU - Julia Cerenzia Y1 - 1999/07/31 UR - https://pm-research.com/content/5/2/53.abstract N2 - Continued economic growth in many emerging markets will require increases in the stock and quality of infrastructure that significantly exceeds the availability of public funds for such projects. As a result, many emerging market countries wish to attract international private capital to finance infrastructure projects and to realize market efficiency in these sectors. However, privatization must not be narrowly viewed as a transfer of assets currently held by the public sector into the hands of the private sector. Instead privatization must be pursued as a far more comprehensive process of fundamentally transforming a public sector into a viable private sector, and establishing a business environment in which the private sector can successfully meet the country's long term infrastructure needs. ER -