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Risk Management in Public–Private Partnership Contracts

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  • Tahir Nisar

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    Abstract

    Public–private partnerships (PPPs) allow private companies to build, own and operate public projects such as schools and hospitals on behalf of the public sector. PPP contracts commonly require the private agent to take responsibilities for the performance of the asset over a long term, at least for a significant part of its useful life, so that efficiencies arising from long-term investment and asset management can be realized. However, the evidence is finely balanced on the effectiveness of such initiatives in obtaining the intended goals. This brings to the fore the challenge of designing and implementing innovative partnership plans to manage public services more effectively. More emphasis needs to be placed on strategies for the transfer of risk for the successful conclusion of PPP contracts. Copyright Springer Science+Business Media, LLC 2007

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    File URL: http://hdl.handle.net/10.1007/s11115-006-0020-1
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    Bibliographic Info

    Article provided by Springer in its journal Public Organization Review.

    Volume (Year): 7 (2007)
    Issue (Month): 1 (March)
    Pages: 1-19

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    Handle: RePEc:kap:porgrv:v:7:y:2007:i:1:p:1-19

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    Web page: http://www.springerlink.com/link.asp?id=106610

    Related research

    Keywords: Risk management; Public–private partnership; Value for money; Secondary financing markets;

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    1. Besley, Timothy J. & Ghatak, Maitreesh, 2001. "Government versus Private Ownership of Public Goods," CEPR Discussion Papers 2725, C.E.P.R. Discussion Papers.
    2. 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.
    3. M.G. Pollitt, 2000. "The Declining Role of the State in Infrastructure Investments in the UK," Cambridge Working Papers in Economics 0001, Faculty of Economics, University of Cambridge.
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    Cited by:
    1. Ph.D. Candidate Marina ZAHARIOAIE, 2011. "Analiza utilizarii parteneriatului public-privat in externalizarea activitatii administrative - The Analysis of the Use of Public-Private Partnership in Outsourcing Administrative work (Romanian versi," Logos Universalitate Mentalitate Educatie Noutate - Sectiunea Stiinte Economice si Administrative/ Logos Universality Mentality Education Novelty - Section: Economical and Administrative Sciences, Editura Lumen, Department of Economics, vol. 1, pages 197-206, February.
    2. Cruz, Carlos & Marques, Rui, 2010. "Contribution to the study of PPP arrangements in airport development, management and operation," MPRA Paper 24623, University Library of Munich, Germany.

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