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English Dictionary ( 40480 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Financing Cities Financing Cities Fiscal Responsibility and Urban Infrastructure in Brazil, China, India, Poland and South Africa Editors George E. Peterson Patricia Clarke Annez THE WORLD BANK Copyright © 2007 The International Bank for Reconstruction and Development/The World Bank 1818 H Street, NW, Washington, DC 20433 All rights reserved. No part of this book may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage or retrieval system, without permission in writing from the publisher. A co-publication of The World Bank and Sage Publications India Pvt Ltd First published in 2007 by Sage Publications India Pvt Ltd B1/I1 Mohan Cooperative Area Mathura Road New Delhi 110 044 www.sagepub.in Sage Publications Inc 2455 Teller Road Thousand Oaks, California 91320 Sage Publications Ltd 1 Oliver’s Yard, 55 City Road London EC1Y 1SP Sage Publications Asia-Pacific Pte Ltd 33 Pekin Street #02-01 Far East Square Singapore 048763 Published by Vivek Mehra for Sage Publications India Pvt Ltd, typeset in 10/12 Garamond by Star Compugraphics Private Limited, Delhi and printed at Chaman Enterprises, New Delhi. Library of Congress Cataloging-in-Publication Data Financing cities: fiscal responsibility and urban infrastructure in Brazil, China, India, Poland and South Africa/editors, George E. Peterson and Patricia Clarke Annez. p.cm. Includes bibliographical references and index. 1. Fiscal policy—Case studies. 2. Finance, Public—Case studies. 3. Infrastructure (Economics)—Case studies. I. Peterson, George E. II. Annez, Patricia Clarke. HJ192.5.F56 336' .014—dc22 2007 2007001254 Terms and Conditions The findings, interpretations, and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the Executive Directors of The World Bank, the governments they represent, or the other donors and sponsors of this publication. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries, colors, denominations, and other information shown on any map in this work do not imply any judgement on the part of The World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. The International Bank for Reconstruction and Development/The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA, telephone: 978-750-8400, fax: 978-750-4470, www.copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to the Office of the Publisher, The World Bank, 1818 H Street, NW, Washington, DC 20433, USA, fax: 202-522-2422, e-mail: [email protected]. ISBN: 978-0-7619-3564-3 (HB) 978-81-7829-724-8 (India-HB) Sage Production Team: Manidipa Mandal, Shweta Vachani and Santosh Rawat Contents List of Tables 7 List of Figures 10 List of Abbreviations 12 Foreword by Vijay Kelkar 18 Preface 21 Acknowledgements 23 PART I National Frameworks to Balance Fiscal Discipline 27 and Local Investment Needs Chapter 1: Fiscal Responsibility Legislation and Fiscal 40 Adjustment: The Case of Brazilian Local Governments Luiz de Mello Chapter 2: China: Fiscal Framework and Urban 74 Infrastructure Finance Su Ming and Zhao Quanhou Chapter 3: Overview of Urban Infrastructure Finance in India 108 Subhash Chandra Garg Chapter 4: Infrastructure Development in Poland: 158 The Issues at Stake Krzysztof Ners 6 Financing Cities Chapter 5: Fiscal Decentralization and the Financing of Urban 183 Infrastructure in South Africa Philip van Ryneveld PART II Mobilizing Local Infrastructure Finance 205 Chapter 6: Urban Infrastructure Investment 220 and Financing in Shanghai Gao Guo Fu Chapter 7: Mobilizing Financing for Urban Sanitation 229 Infrastructure in Brazil Aser Cortines and Sandra Bondarovsky Chapter 8: Tamil Nadu Urban Development Fund: Public–Private 238 Partnership in an Infrastructure Finance Intermediary L. Krishnan Chapter 9: INCA: A South African Private-Sector 263 Intermediary Johan Kruger and George E. Peterson Chapter 10: Land Leasing and Land Sale 284 as an Infrastructure Financing Option George E. Peterson Chapter 11: Urban Infrastructure Finance from Private 307 Operators: What Have We Learned from Recent Experience? Patricia Clarke Annez About the Editors and Contributors 339 Index 343 List of Tables I.1: Average Annual Growth Rates in India and China, 1990–2004 28 1.1: Public Sector Fiscal Outcomes, 1995–2004 Budget Balance 42 1.2: Composition of Public Social Spending, 2002 57 1.3: Composition of Municipal Revenue, 2002 64 2.1: Sub-National Expenditure Responsibilities 77 2.2: Revenue Assignment between Central and 78 Sub-National Governments, 1994 2.3: Transfer Payments from Central to 87 Sub-National Level, 1995–2004 2.4: Fiscal Disparity among Provinces 88 2.5: Structure of Beijing’s Municipal Revenue 91 2.6: Basic Statistics on Urban Infrastructure Coverage 94 2.7: Urban Infrastructure Investment Ratios 96 3.1: Growth Rates of the Indian Economy 116 3.2: Public and Private Savings and Investment in India 118 3.3: Central Government Expenditure on Schemes for Urban 129 Infrastructure in the Central Sector 3.4: HUDCO’s Financing for Infrastructure Projects 131 4.1: Basic Indicators 2003 159 4.2: Expected Annual Investments for Operation 162 and Maintenance Needs, 2005–10 4.3: Urban Population Living in Polish Cities 163 8 Financing Cities 4.4: Distribution of Public Debt between the Central 167 and Local Governments, 31 December 2003 4.5: Investment Expenditures (IE) in Central 169 and Local Governments’ Budgets 4.6: Structure and Dynamics of Local Government 171 Revenues, 2000–04 4.7: Structure of Revenue in Cities with Powiat Status, 2000–04 172 4.8: Structure of Own Resources in Cities with 172 Powiat Status, 2002–04 4.9: Deficits of Local Government, 2002–04 173 4.10: Level of Indebtedness of Local Governments in 2002 173 and 2004 4.11: Structure of Local Government Expenditure, 2002–04 176 4.12: Structure of Local Governments’ Investment Expenditure 176 by Sectors, 2003–04 4.13: Financial Sources for Local Governments’ Investment 176 Expenditure, 2003–04 4.14: Share of Central Budget Transfers in Financing Investment 177 by Sector, 2003–04 4.15: Sectoral Distribution of Central Government Transfers to 177 Finance Local Government’s Investment Expenditure 5.1: Proportion of Revenues Raised by Each Key Tax Source 189 for All Spheres of Government, 2003–04 5.2: Own Revenue versus Grant Revenue for the Three Different 189 Spheres of Government, 2003–04 5.3: Conditional and Unconditional Transfers from National 190 to Local Governments, 2000–05 5.4: Municipal Governments’ Borrowing 194 5.5: Cape Town Metropolitan Municipality 195 5.6: Share of Various Sources of Capital Financing 196 for the City of Johannesburg 5.7: Share of Bonds Issued by Category of Public 197 Sector Institution II.1: Potential Sources of Local Capital Financing 208 II.2: Potential Sources of O&M Financing 208 6.1: Comparison of Urban Infrastructure Development, 221 1990–2004 List of Tables 9 8.1: Urban Investment Requirements as per the Second 243 State Finance Commission 8.2: TNUDF Estimates of Local Financing Capacity for Urban 245 Investment Needs: Five-year Period Starting 2004–05 8.3: TNUDF Loan Disbursements and Approvals 250 8.4: Key Financial Ratios for the TNUDF 255 9.1: Capital Requirement Matrix 270 9.2: Budgeted Sources of Finance for Municipal 273 Capital Expenditure 10.1: Revenue from Land Leasing in Selected Cities 288 10.2: Revenue from Land Leasing, Hong Kong 293 10.3: Revenue from Land Leasing for Ethiopian Municipalities 295 in Amhara and Tigray, 2003–04 10.4: Land Sale Revenues and Infrastructure Spending 297 in Mumbai, India 11.1: Regional Breakdown of Total PPI and Urban PPI, 1984–2003 311 11.2: Problem Projects in Urban PPI, 1984–2003 311 11.3: Overview of Average Residential Water Tariffs 317 List of Figures I.1: Municipal Government Expenditure 37 1.1: Brazil’s Fiscal Performance, 1990–2003 43 1.2: Trends in Municipal Expenditure, 1998–2003 59 1.3: Municipal Indebtedness and Primary 65 Budget Balance, 1998–2004 2.1: China’s Fiscal Revenue and its Structure 81 2.2: National Fiscal Expenditure and its Structure 82 2.3: Sub-National Fiscal Revenue and Expenditure 83 2.4: The Sub-National Governments’ Self-Support Rate 84 2.5: Share of Urban Infrastructure Investment 97 Financed from the Budget 2.6: Share of Urban Infrastructure Investment Financed 98 by Fees and Charges 2.7: Share of Urban Infrastructure Investment Financed by Loans 99 4.1: GDP Growth in Poland, 1993–2004 164 4.2: Cyclically Adjusted Deficit, 1995–2004 165 4.3: Gross Fixed Capital Formation, 2000–03 165 4.4: Gross Public Debt, 1999–2004 166 4.5: General Government Spending, 1999–2004 168 6.1: GDP Growth Rate of Shanghai 222 6.2: Foreign Direct Investment and Fiscal Revenue in Shanghai 222 List of Figures 11 7.1: Urban and Rural Population, 1940–2000 230 9.1: INCA’s Capital Structure 266 11.1: Total PPI and Urban PPI 310 List of Abbreviations
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