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Public--private partnerships: a review of economic considerations with particular reference to transportation projects

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  • Kenneth Button

Abstract

The paper sets in context some of the more recent work that has been conducted on public--private partnerships (PPPs) in the provision and operation of infrastructure. PPPs essentially involve a government or its agent signing an agreement with a private company or consortium to supply it with services with the private sector actor involved in major elements of designing, building, temporarily ‘owning’, and running the physical assets; basically they are long-term development and service contracts between government and a private partner. The paper outlines the development of economic thinking regarding the rationale behind PPPs, the extent to which unbundling is optimal and the forms that it may take, the nature of the contracts that are enacted and their renegotiation, the awarding of contracts, and matters of possible corruption. By way of focus, it also provides some indication of what empirical studies in the transportation have thrown up regarding the outcomes of PPPs.

Suggested Citation

  • Kenneth Button, 2016. "Public--private partnerships: a review of economic considerations with particular reference to transportation projects," Transportation Planning and Technology, Taylor & Francis Journals, vol. 39(2), pages 136-161, March.
    • Handle: RePEc:taf:transp:v:39:y:2016:i:2:p:136-161
    DOI: 10.1080/03081060.2015.1127538
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    References listed on IDEAS

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    1. Michael Klein, 1998. "Bidding for Concessions : The Impact of Contract Design," World Bank Publications - Reports 11527, The World Bank Group.
    2. Michael Klein, 1998. "Rebidding for Concessions," World Bank Publications - Reports 11524, The World Bank Group.
    3. Jean-Jacques Laffont & Jean Tirole, 1993. "A Theory of Incentives in Procurement and Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121743, December.
    4. John Vickers & George Yarrow, 1988. "Privatization: An Economic Analysis," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262720116, December.
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    Cited by:

    1. Alireza Sharafi & Ata Allah Taleizadeh & Mohsen Sadegh Amalnick, 2018. "Fair Allocation in Financial Disputes Between Public–Private Partnership Stakeholders Using Game Theory," Service Science, INFORMS, vol. 10(1), pages 1-11, March.
    2. Nannan Wang & Minxun Ma, 2021. "Public–private partnership as a tool for sustainable development – What literatures say?," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(1), pages 243-258, January.
    3. Marzouk, Mohamed & Ali, Mohamed, 2018. "Mitigating risks in wastewater treatment plant PPPs using minimum revenue guarantee and real options," Utilities Policy, Elsevier, vol. 53(C), pages 121-133.
    4. Jiangang Shi & Kaifeng Duan & Guangdong Wu & Rui Zhang & Xiaowei Feng, 2020. "Comprehensive metrological and content analysis of the public–private partnerships (PPPs) research field: a new bibliometric journey," Scientometrics, Springer;Akadémiai Kiadó, vol. 124(3), pages 2145-2184, September.
    5. Deng, Yuntian & Shao, Shiping & Mittal, Archak & Twumasi-Boakye, Richard & Fishelson, James & Gupta, Abhishek & Shroff, Ness B., 2022. "Incentive design and profit sharing in multi-modal transportation networks," Transportation Research Part B: Methodological, Elsevier, vol. 163(C), pages 1-21.
    6. Opara, Michael & Rouse, Paul, 2019. "The perceived efficacy of public-private partnerships: A study from Canada," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 58(C), pages 77-99.
    7. Carlos Oliveira Cruz & Joaquim Miranda Sarmento, 2017. "Reforming traditional PPP models to cope with the challenges of smart cities," Competition and Regulation in Network Industries, , vol. 18(1-2), pages 94-114, March.

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