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PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION

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  • Graeme A. Hodge
  • Carsten Greve

Abstract

This paper argues that evaluations of public–private partnerships thus far point to contradictory results regarding their effectiveness and value‐for‐money. Despite continuing political popularity, greater care is needed to strengthen future evaluations and conduct such assessments away from the policy cheerleaders.

Suggested Citation

  • Graeme A. Hodge & Carsten Greve, 2009. "PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 33-39, March.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:1:p:33-39
    DOI: 10.1111/j.1468-0270.2009.01864.x
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    1. David Parker, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series 1126, CESifo.
    2. Megginson, William L & Nash, Robert C & van Randenborgh, Matthias, 1994. "The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 403-452, June.
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    4. Michael Pollitt, 2005. "Learning from UK Private Finance Initiative experience," Chapters, in: Graeme A. Hodge & Carsten Greve (ed.), The Challenge of Public–Private Partnerships, chapter 11, Edward Elgar Publishing.
    5. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Public-Private Partnerships In Europe: An Update," Economic and Financial Reports 2007/3, European Investment Bank, Economics Department.
    6. Narjess Boubakri & Jean-Claude Cosset, 1998. "The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries," Journal of Finance, American Finance Association, vol. 53(3), pages 1081-1110, June.
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    8. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Ex Ante Construction Costs In The European Road Sector: A Comparison Of Public-Private Partnerships And Traditional Public Procurement," Economic and Financial Reports 2006/1, European Investment Bank, Economics Department.
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    Cited by:

    1. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Anatomy of Public-Private Partnerships : Their Creation, Financing, and Renegotiations," Discussion Paper 2014-017, Tilburg University, Center for Economic Research.
    2. Penyalver, Domingo & Turró, Mateu & Williamson, John B., 2019. "Measuring the value for money of transport infrastructure procurement; an intergenerational approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 238-254.
    3. Graeme A. Hodge, 2010. "Reviewing Public–Private Partnerships: Some Thoughts on Evaluation," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 5, Edward Elgar Publishing.
    4. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Other publications TiSEM b9218010-a357-4c0a-805a-7, Tilburg University, School of Economics and Management.
    5. Bent Flyvbjerg, 2014. "What You Should Know About Megaprojects, and Why: An Overview," Papers 1409.0003, arXiv.org.
    6. Metaxas, Theodore & Preza, Elisavet, 2012. "Public- Private Partnerships in Southeastern Europe: The case of Croatia," MPRA Paper 43830, University Library of Munich, Germany.
    7. Lawson, Julie & Pawson, Hal & Troy, Laurence & van den Nouwelant, Ryan & Hamilton, Carrie & Hayward, Richard Donald, 2018. "Social housing as infrastructure: an investment pathway," SocArXiv e9hky, Center for Open Science.
    8. Cepparulo, Alessandra & Eusepi, Giuseppe & Giuriato, Luisa, 2020. "Public finances and Public Private Partnerships in the European Union," MPRA Paper 103918, University Library of Munich, Germany.
    9. Gordon, Cameron & Mulley, Corinne & Stevens, Nick & Daniels, Rhonda, 2013. "How optimal was the Sydney Metro contract?: Comparison with international best practice," Research in Transportation Economics, Elsevier, vol. 39(1), pages 239-246.
    10. Liam Clegg, 2019. "Economic geography and the regulatory state: Asymmetric marketization of social housing in England," Environment and Planning A, , vol. 51(7), pages 1479-1498, October.
    11. Argentino Pessoa, 2010. "Reviewing Public–Private Partnership Performance in Developing Economies," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 25, Edward Elgar Publishing.
    12. Poulton, Colin & Macartney, Jon, 2012. "Can Public–Private Partnerships Leverage Private Investment in Agricultural Value Chains in Africa? A Preliminary Review," World Development, Elsevier, vol. 40(1), pages 96-109.
    13. Hilmar Þór HILMARSSON, 2017. "Public-Private Partnerships for clean energy investment in developing and emerging economies: Allocating risks and sharing rewards," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(2(611), S), pages 147-160, Summer.
    14. Peter Birch Sørensen, 2015. "Reforming Public Service Provision: What have we learned?," EPRU Working Paper Series 2015-01, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    15. Hilmar Tór HILMARSSON, 2012. "Managing Risks in Cross Border Energy Projects in Emerging Markets," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(5), pages 717-732, December.
    16. Abdullahi Umar & Noor Amila Zawawi & Mohd Faris Khamidi & Arazi Idrus, 2013. "Stakeholder Perceptions on Achieved Benefits of PFI Procurement Strategy," Modern Applied Science, Canadian Center of Science and Education, vol. 7(4), pages 1-31, April.
    17. Iram Khan & Asad Ghalib & Farhad Hossain, 2015. "Stakeholders Involvement or Public Subsidy of Private Interests? Appraising the Case of Public Private Partnerships in Pakistan," Public Organization Review, Springer, vol. 15(2), pages 281-296, June.
    18. Mark A. Moore & Aidan R. Vining, 2023. "PPP performance evaluation: the social welfare goal, principal–agent theory and political economy," Policy Sciences, Springer;Society of Policy Sciences, vol. 56(2), pages 267-299, June.
    19. Abebe, Gumataw K. & Bijman, Jos & Kemp, Ron & Omta, Onno & Tsegaye, Admasu, 2013. "Contract farming configuration: Smallholders’ preferences for contract design attributes," Food Policy, Elsevier, vol. 40(C), pages 14-24.
    20. Cheng Chen & Dan Li & Caixia Man, 2018. "Toward Sustainable Development? A Bibliometric Analysis of PPP-Related Policies in China between 1980 and 2017," Sustainability, MDPI, vol. 11(1), pages 1-25, December.
    21. Graeme Hodge & Carsten Greve, 2013. "Public–private partnership in developing and governing mega-projects," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 9, pages 182-208, Edward Elgar Publishing.
    22. Miranda Sarmento, J.J. & Renneboog, Luc, 2016. "Anatomy of public-private partnerships : Creation, financing, and renegotiations," Other publications TiSEM dc944be7-8594-4439-90da-6, Tilburg University, School of Economics and Management.
    23. Janusz Myszczyszyn, 2022. "Public-Private Partnership - Development and Dilemmas for the Future from the Point of View of the Public Partner," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 390-400.

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