Introduction

The aim of this study is to estimate the returns that private investors in infrastructure projects in Latin America really made on their investments, to assess the adequacy of these returns relative to the risks taken, and the impact that the quality of regulation had on those returns. The study estimates both historical and projected future returns earned by a sample of private infrastructure concessions, across a variety of Latin American countries and infrastructure sectors, and compares them against expected returns given the level of risk taken. In addition, the study ...