Incluye bibliografía.

Acronyms -- Acknowledgements -- Preface -- 1. What the study aims to do, and why: Overview: aims and scope -- Growth of concerns about investment risks -- Water: an obstinate case -- 2. The case for guarantees: Risk sharing in infrastructure -- The sub-sovereign issue -- Types of guarantees -- Matching risks with instruments: a summary -- The main sources of development guarantees in perspective -- 3. Costs and potential distortions of guarantees: Costs to donors and guarantors -- Costs to recipients and host countries -- Theoretical objections -- 4. The development impact of guarantees: The development agenda -- Market and policy failures -- Distorted financial and capital markets -- Guarantees and capital market reform: Mexico, India, and South Africa -- Impact on the quality of investments -- Quantitative impact -- Making the products more relevant -- Different development contexts -- Magnifying the impact of guarantees -- 5. Conclusions, questions, and loose ends: Meaning of "Development Guarantees" -- Changing motives -- Measurement problems -- Relative size -- Constraints to their wider use -- Market niche, or unfair competition? -- Comfort, prop or stimulus? -- The power of the credit ratings agency -- Distortions of correctives? -- Relevance to poorer countries -- Local currency guarantees: the way forward? -- Opportunities for leverage -- Bibliography -- List of boxes, figures and tables in the text.

This volume tests the relevance and usefulness of guarantees to public and private actors in developing countries, especially for funding development projects. Not to be confused with export credit guarantees usually accorded to nationals with the aim of stimulating exports and overseas investment, development guarantees are destined for actors in emerging or developing economies where risk is a deterrent to lending or investment.