This study analyzes the determinats of stress in public-private partnerships (PPPs) in infrastructure investment. The empirical analysis in this study yields a number of surprising results: 1.Strong growth and rigid currency regimes heighten risk by leading to adverse selection of proponents and moral hazard in project design 2.Many of the World Bank's indices of governance quality lead to perverse outcomes, suggesting that new governance standards must be used to judge PPPs 3.Except for political risk guarantees, loans and equity from multilateral institutions have no effects on outcomes ;however, political risk guarantees are rarely utilized ,suggesting that they may need to be redesigned or marketed better to be more useful. [WP 133]
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Paper provided by esocialsciences.com in its series Working Papers with number
id:1956.
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