The Effects of the Financial Crisis on Public-Private Partnerships
AbstractThe paper investigates the impact of the global financial crisis on public-private partnerships (PPPs) and the circumstances under which providing support to new and existing projects is justified. Based on country evidence, cost of and access to finance are found to be the main channels of transmission of the financial crisis, affecting in particular pipeline PPP projects. Possible measures to help PPPs during the crisis include contract extensions, output-based subsidies, revenue enhancements and step-in rights. To limit government's exposure to risk, while preserving private partner's efficiency incentives, intervention measures should be consistent with the wider fiscal policy stance, be contingent on specific circumstances, and be adequately costed and budgeted. Governments should be compensated for taking on additional risk.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 09/144.
Date of creation: 01 Jul 2009
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-10 (All new papers)
- NEP-PPM-2009-10-10 (Project, Program & Portfolio Management)
- NEP-RMG-2009-10-10 (Risk Management)
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.:
- Estache, Antonio & Juan, Ellis & Trujillo, Lourdes, 2007.
"Public-private partnerships in transport,"
Policy Research Working Paper Series
4436, The World Bank.
- Tsamboulas, D. & Verma, A. & Moraiti, P., 2013. "Transport infrastructure provision and operations: Why should governments choose private–public partnership?," Research in Transportation Economics, Elsevier, vol. 38(1), pages 122-127.
- Carmona, Miguel, 2010. "The regulatory function in public-private partnerships for the provision of transport infrastructure," Research in Transportation Economics, Elsevier, vol. 30(1), pages 110-125.
- Guillermo R. Alborta & Claudia Stevenson & Sergio Triana, 2011. "Asociaciones público-privadas para la prestación de servicios: Una visión hacia el futuro," IDB Publications 55178, Inter-American Development Bank.
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