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Private opportunity, public benefit?

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  • John Hall

    (Institute for Fiscal Studies)

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    Abstract

    The newly elected Labour government has pledged to ‘reinvigorate the Private Finance Initiative’, as part of the new emphasis on ‘public/private partnerships’ in the delivery of core public services. This article assesses the merits of using private finance to deliver public services against three criteria: whether it will lead to additional investment in social infrastructure, whether it represents good value for the taxpayer’s money and whether the use of private finance will reduce the public sector’s flexibility to pursue its public service objectives.

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    File URL: http://www.ifs.org.uk/fs/articles/hall_may98.pdf
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    Bibliographic Info

    Article provided by Institute for Fiscal Studies in its journal Fiscal Studies.

    Volume (Year): 19 (1998)
    Issue (Month): 2 (May)
    Pages: 121-140

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    Handle: RePEc:ifs:fistud:v:19:y:1998:i:2:p:121-140

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    1. Dixit, Avinash, 1997. "Power of Incentives in Private versus Public Organizations," American Economic Review, American Economic Association, American Economic Association, vol. 87(2), pages 378-82, May.
    2. Heald, David, 1997. "Privately Financed Capital in Public Services," The Manchester School of Economic & Social Studies, University of Manchester, University of Manchester, vol. 65(5), pages 568-98, December.
    3. Andrew Sentance & Stephen Hall & John O'Sullivan, 1998. "Modelling and forecasting UK public finances," Fiscal Studies, Institute for Fiscal Studies, Institute for Fiscal Studies, vol. 19(1), pages 63-81, February.
    4. Laffont, J.J., 1996. "Game Theory and Empirical Economics: The Case of Auction Data," Papers, Toulouse - GREMAQ 95.394, Toulouse - GREMAQ.
    5. Andres Gomez-Lobo & Stefan Szymanski, 1997. "A Law of Large numbers: Bidding and competitive tendering for refuse collection contracts," IFS Working Papers, Institute for Fiscal Studies W97/09, Institute for Fiscal Studies.
    6. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 1997. "Highway Franchising: Pitfalls and Opportunities," Documentos de Trabajo, Centro de Economía Aplicada, Universidad de Chile 15, Centro de Economía Aplicada, Universidad de Chile.
    7. Stefan Szymanski, 1996. "The impact of compulsory competitive tendering on refuse collection services," Fiscal Studies, Institute for Fiscal Studies, Institute for Fiscal Studies, vol. 17(3), pages 1-19, August.
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    Cited by:
    1. Chung, Demi & Hensher, David A. & Rose, John M., 2010. "Toward the betterment of risk allocation: Investigating risk perceptions of Australian stakeholder groups to public-private-partnership tollroad projects," Research in Transportation Economics, Elsevier, Elsevier, vol. 30(1), pages 43-58.

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