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Public-private partnerships in transport

Author

Listed:
  • Estache,Antonio
  • Juan,Ellis J.
  • Trujillo Castellano,Lourdes

Abstract

This paper summarizes the evidence on the evolution of transport PPPs over the last 15 years or so. In the process, it provides a primer on the associated policy issues, including of the central role of project finance in the implementation of PPP policies and the debates on risk allocation in the design of PPPs. The paper also offers a discussion of the increasingly well recognized residual roles for the public sector in transport, with an emphasis on the regulatory debates surrounding the adoption of PPPs.

Suggested Citation

  • Estache,Antonio & Juan,Ellis J. & Trujillo Castellano,Lourdes, 2007. "Public-private partnerships in transport," Policy Research Working Paper Series 4436, The World Bank.
    • Handle: RePEc:wbk:wbrwps:4436
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    References listed on IDEAS

    as
    1. Alexander, Ian & Estache, Antonio & Oliveri, Adele, 2000. "A few things transport regulators should know about risk and the cost of capital," Utilities Policy, Elsevier, vol. 9(1), pages 1-13, March.
    2. Athias, Laure & Saussier, Stéphane, 2007. "Contractual flexibility or rigidity for public private partnerships? Theory and evidence from infrastructure concession contracts," MPRA Paper 10541, University Library of Munich, Germany.
    3. J. Luis Guasch, 2004. "Granting and Renegotiating Infrastructure Concessions : Doing it Right," World Bank Publications - Books, The World Bank Group, number 15024, December.
    4. Timothy C. Irwin, 2007. "Government Guarantees : Allocating and Valuing Risk in Privately Financed Infrastructure Projects," World Bank Publications - Books, The World Bank Group, number 6638, December.
    5. Charles Raux & Stéphanie Souche, 2004. "The Acceptability of Urban Road Pricing: A Theoretical Analysis Applied to Experience in Lyon," Journal of Transport Economics and Policy, University of Bath, vol. 38(2), pages 191-215, May.
    6. da Silva, Luis Correia & Estache, Antonio & Jarvela, Sakari, 2004. "Is debt replacing equity in regulated privatized infrastructure in developing countries?," Policy Research Working Paper Series 3374, The World Bank.
    7. Flyvbjerg,Bent & Bruzelius,Nils & Rothengatter,Werner, 2003. "Megaprojects and Risk," Cambridge Books, Cambridge University Press, number 9780521009461.
    8. Eduardo M. R. A. Engel & Ronald D. Fischer & Alexander Galetovic, 2001. "Least-Present-Value-of-Revenue Auctions and Highway Franchising," Journal of Political Economy, University of Chicago Press, vol. 109(5), pages 993-1020, October.
    9. Trujillo, Lourdes & Quinet, Emile & Estache, Antonio, 2002. "Dealing with demand forecasting games in transport privatization," Transport Policy, Elsevier, vol. 9(4), pages 325-334, October.
    10. Antonio Estache & Lourdes Trujillo, 2006. "Transport cost levels, productivity and efficiency measures: Some theory and main policy uses," ULB Institutional Repository 2013/44064, ULB -- Universite Libre de Bruxelles.
    11. Darrin Grimsey & Mervyn K. Lewis, 2005. "Are Public Private Partnerships value for money?," Accounting Forum, Taylor & Francis Journals, vol. 29(4), pages 345-378, December.
    12. Corria da Silva, Luis & Estache, Antonio & Jarvela, Sakari, 2006. "Is debt replacing equity in regulated privatised infrastructure in LDCs?," Utilities Policy, Elsevier, vol. 14(2), pages 90-102, June.
    13. Christine Brown, 2005. "Financing Transport Infrastructure: For Whom the Road Tolls," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 38(4), pages 431-438, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Metaxas, Theodore & Preza, Elisavet, 2012. "Public- Private Partnerships in Southeastern Europe: The case of Croatia," MPRA Paper 43830, University Library of Munich, Germany.
    2. Han, Qingye & Zhu, Yuming & Ke, Ginger Y. & Hipel, Keith W., 2019. "Public private partnership in brownfield remediation projects in China: Identification and structure analysis of risks," Land Use Policy, Elsevier, vol. 84(C), pages 87-104.
    3. Usman Ahmad & Yusnidah Ibrahim & Mohd Sobri Minai, 2017. "Public Private Partnership in Malaysia: The Differences in Perceptions on the Criticality of Risk Factors and Allocation of Risks between the Private and Public Sectors," International Review of Management and Marketing, Econjournals, vol. 7(2), pages 138-150.
    4. Song, Jinbo & Song, Danrong & Zhang, Xueqing & Sun, Yan, 2013. "Risk identification for PPP waste-to-energy incineration projects in China," Energy Policy, Elsevier, vol. 61(C), pages 953-962.
    5. Jokar, Ebrahim & Aminnejad, Babak & Lork, Alireza, 2021. "Assessing and Prioritizing Risks in Public-Private Partnership (PPP) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods," Operations Research Perspectives, Elsevier, vol. 8(C).
    6. Tan, Jeff, 2012. "The Pitfalls of Water Privatization: Failure and Reform in Malaysia," World Development, Elsevier, vol. 40(12), pages 2552-2563.
    7. Lindsey, Robin, 2012. "Road pricing and investment," Economics of Transportation, Elsevier, vol. 1(1), pages 49-63.
    8. Patrick Omoruyi Eke & Alexander Ehimare Omankhanlen, 2019. "Public-Private Partnership and Financial Structure Development: Cointegration Lessons for selected sub-Sahara African Economies," Annals of Economics and Finance, Society for AEF, vol. 20(2), pages 783-802, November.
    9. Laura MINA, 2010. "Public-Private Partnerships: A Theoretical Overview," Proceedings of Administration and Public Management International Conference, Research Centre in Public Administration and Public Services, Bucharest, Romania, vol. 6(1), pages 328-333, June.
    10. Aldaba, Rafaelita M., 2003. "Regulatory Policies and Reforms in the Power and Downstream Oil Industries," Discussion Papers DP 2003-16, Philippine Institute for Development Studies.
    11. Pedro Barros & Xavier Martinez-Giralt, 2009. "Contractual design and PPPs for hospitals: lessons for the Portuguese model," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 10(4), pages 437-453, October.
    12. Jensen, Olivia & Wu, Xun, 2017. "The hybrid model for economic regulation of water utilities: Mission impossible?," Utilities Policy, Elsevier, vol. 48(C), pages 122-131.
    13. Das, Amit Kumar & Bardhan, Amit Kumar & Fageda, Xavier, 2020. "New regional aviation policy in India: Early indicators and lessons learnt," Journal of Air Transport Management, Elsevier, vol. 88(C).
    14. repec:rom:campco:v:6:y:2010:i:1:p:328-333 is not listed on IDEAS
    15. International Monetary Fund, 2009. "The Effects of the Financial Crisison Public-Private Partnerships," IMF Working Papers 2009/144, International Monetary Fund.
    16. Akinkugbe Olabisi Delebayo, 2013. "The Dilemma of Public–Private Partnerships as a Vehicle for the Provision of Regional Transport Infrastructure Development in Africa," The Law and Development Review, De Gruyter, vol. 6(2), pages 3-27, August.

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    Keywords

    Debt Markets; Banks&Banking Reform; Access to Finance; Transport Economics Policy&Planning;
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