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The Economics of Public-Private Partnerships

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  • Jean-Etienne de Bettignies
  • Thomas W. Ross

Abstract

Governments across Canada and around the world are looking for new ways to deliver public services at lower costs to taxpayers and users. Many have chosen to form public-private partnerships (P3s), involving the private sector to a much greater extent. This choice is often controversial, with the debates routinely driven by ideology more than careful analysis. This paper adds to the limited academic literature on P3s by reviewing the fundamental underlying economics of these relationships to get at their real costs and benefits. The goal is to help us better understand where and how P3s may be an efficient mechanism for the provision of public services.

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Bibliographic Info

Article provided by University of Toronto Press in its journal Canadian Public Policy.

Volume (Year): 30 (2004)
Issue (Month): 2 (June)
Pages: 135-154

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Handle: RePEc:cpp:issued:v:30:y:2004:i:2:p:135-154

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References

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  1. Domberger, Simon & Jensen, Paul, 1997. "Contracting Out by the Public Sector: Theory, Evidence, Prospects," Oxford Review of Economic Policy, Oxford University Press, vol. 13(4), pages 67-78, Winter.
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  4. Timothy Besley & Maitreesh Ghatak, 2001. "Government Versus Private Ownership Of Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 116(4), pages 1343-1372, November.
  5. Vining, Aidan R & Boardman, Anthony E, 1992. " Ownership versus Competition: Efficiency in Public Enterprise," Public Choice, Springer, vol. 73(2), pages 205-39, March.
  6. Stephen King & Rohan Pitchford, 2001. "Private or Public? A taxonomy of optimal ownership and management regimes," International and Development Economics Working Papers idec01-5, International and Development Economics.
  7. Oliver Hart, 2003. "Incomplete Contracts and Public Ownership: Remarks, and an Application to Public-Private Partnerships," Economic Journal, Royal Economic Society, vol. 113(486), pages C69-C76, March.
  8. Grout, Paul A, 1997. "The Economics of the Private Finance Initiative," Oxford Review of Economic Policy, Oxford University Press, vol. 13(4), pages 53-66, Winter.
  9. Spackman, Michael, 2002. "Public-private partnerships: lessons from the British approach," Economic Systems, Elsevier, vol. 26(3), pages 283-301, September.
  10. Oliver Hart & Andrei Shleifer & Robert Vishny, 1996. "The Proper Scope of Government: Theory and an Application to Prisons," Harvard Institute of Economic Research Working Papers 1778, Harvard - Institute of Economic Research.
  11. Holmstrom, Bengt R. & Tirole, Jean, 1989. "The theory of the firm," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 1, chapter 2, pages 61-133 Elsevier.
  12. F CvN FOURIE & P BURGER, 2000. "An Economic Analysis and Assessment of Public - Private Partnerships (PPPs)," South African Journal of Economics, Economic Society of South Africa, vol. 68(4), pages 305-316, December.
  13. Crocker, Keith J & Masten, Scott E, 1996. "Regulation and Administered Contracts Revisited: Lessons from Transaction-Cost Economics for Public Utility Regulation," Journal of Regulatory Economics, Springer, vol. 9(1), pages 5-39, January.
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Citations

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Cited by:
  1. Carlos Alberto Barreto Nieto, 2011. "Modelo de asociación pública-privada: un enfoque de teoría de contratos," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 13(25), pages 249-274, July-Dece.
  2. Elisabetta Iossa & David Martimort, 2008. "The Simple Micro-Economics of Public-Private Partnerships," CEIS Research Paper 139, Tor Vergata University, CEIS, revised 15 Feb 2013.
  3. Brenck, Andreas & Beckers, Thorsten & Heinrich, Maria & von Hirschhausen, Christian, 2005. "Public-private partnerships in new EU member countries of Central and Eastern Europe: An economic analysis with case studies from the highway sector," EIB Papers 10/2005, European Investment Bank, Economics Department.
  4. Elizabeth Brubaker, 2011. "A Bridge Over Troubled Waters: Alternative Financing and Delivery of Water and Wastewater Services," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 330, May.
  5. Barreto Nieto, Carlos Alberto, 2010. "Modelo de Unión Público-Privado: una aproximación desde la Teoría de Contratos
    [Public Private-Partnership: an approach from contract theory]
    ," MPRA Paper 32038, University Library of Munich, Germany.
  6. Argentino Pessoa, 2008. "Educational Reform in Developing Countries: Private Involvement and Partnerships," FEP Working Papers 284, Universidade do Porto, Faculdade de Economia do Porto.
  7. Zhe Zhang & Ming Jia & Difang Wan, 2009. "Allocation of control rights and cooperation efficiency in public-private partnerships: theory and evidence from the Chinese pharmaceutical industry," International Journal of Health Care Finance and Economics, Springer, vol. 9(2), pages 169-182, June.
  8. Zhe Zhang & Ming Jia & Difang Wan, 2012. "When does a partner’s reputation impact cooperation effects in partnerships?," Asia Pacific Journal of Management, Springer, vol. 29(3), pages 547-571, September.
  9. Argentino Pessoa, 2009. "Outsourcing And Public Sector Efficiency: How Effective Is Outsourcing In Dealing With Impure Public Goods?," FEP Working Papers 329, Universidade do Porto, Faculdade de Economia do Porto.
  10. Fandel, Günter & Giese, Anke & Mohn, Brigitte, 2012. "Measuring synergy effects of a Public Social Private Partnership (PSPP) project," International Journal of Production Economics, Elsevier, vol. 140(2), pages 815-824.
  11. Pedro Barros & Xavier Martinez-Giralt, 2009. "Contractual design and PPPs for hospitals: lessons for the Portuguese model," The European Journal of Health Economics, Springer, vol. 10(4), pages 437-453, October.

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