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The Declining Role of the State in Infrastructure Investments in the UK

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Author Info
M.G. Pollitt ()

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Abstract

This paper explores the increasing private involvement in social infrastructure projects in the UK since 1979. It begins by reviewing the effect of privatisation on the quantity of investment undertaken by the utility sector. The evidence is consistent with the view that the private sector is capable of raising the necessary finance. The history, theory and experience of the Private Finance Initiative (PFI) is then discussed. Five case studies of major PFI projects are reviewed, covering hospitals, prisons, computer services and transport projects. The author concludes that the PFI has been a qualified success in the UK especially when compared with the experience under the previous regime of government procurement.

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Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0001.

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Date of creation: Feb 2000
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Handle: RePEc:cam:camdae:0001

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Related research
Keywords: Private Finance Initiative Infrastructure Value for money test Privatisation Investment

Find related papers by JEL classification:
L33 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Boundaries of Public and Private Enterprise; Privatization; Contracting Out
L50 - Industrial Organization - - Regulation and Industrial Policy - - - General
L90 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - General

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References listed on IDEAS
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  1. 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.
  2. Hart, Oliver & Shleifer, Andrei & Vishny, Robert W, 1997. "The Proper Scope of Government: Theory and an Application to Prisons," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1127-61, November.
    Other versions:
  3. Brealey, R A & Cooper, I A & Habib, M A, 1997. "Investment Appraisal in the Public Sector," Oxford Review of Economic Policy, Oxford University Press, vol. 13(4), pages 12-28, Winter.
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Pollitt, M.G., 2004. "Electricity Reform in Chile: Lessons for Developing Countries," Cambridge Working Papers in Economics 0448, Faculty of Economics, University of Cambridge. [Downloadable!]
    Other versions:
  2. Paolo Balduzzi, 2006. "Models of Partnerships," Working Papers 96, University of Milano-Bicocca, Department of Economics, revised May 2006. [Downloadable!]
  3. Christian von Hirschhausen, 2006. "Infrastructure Investments and Resource Adequacy in the Restructured US Natural Gas Market – Is Supply Security at Risk?," Working Papers 0618, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research. [Downloadable!]
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