Risk Shifting And Long Term Contracts
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Risk Shifting and Long-term Contracts
| Author | : Mansoor Dailami |
| Publisher | : World Bank Publications |
| Total Pages | : 34 |
| Release | : 2000 |
| Genre | : Bonds |
| ISBN | : |
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Risk shifting and incomplete contracting lie at the heart of the agency relationship inherent in the procurement and financing of large-scale projects such as power plants, oil and gas pipelines, and liquefied natural gas facilities. An investigation of Ras Gas bonds provides empirical evidence of the risk-shifting consequences of contractual incompleteness.
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