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Public–Private Partnership Practices in the World and Türkiye: A Numerical Analysis

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  • Recep Emre Ericok

    (Istanbul Universitesi, Iktisat Fakultesi Maliye Bolumu, Istanbul, Turkiye)

Abstract

Nowadays, there is a growing consensus on the importance of infrastructure investments in terms of economic and social development. In this context, public-private partnerships are recognized as one of the most important instruments for supporting infrastructure investments. In Türkiye, public-private partnership practices have been utilized extensively in the execution of numerous projects for more than three decades. This study was designed to evaluate and analyze with numerical data the public-private partnership practices in the world and Türkiye within thecontext of global developments in the field of public-private partnership. First, the conceptual framework of publicprivate partnership was examined, and then numerical data on public-private partnership practices in the world andTürkiye were analyzed in light of the increasing infrastructure investment need. The study’s results show that Türkiye’spublic-private partnership practices differ from those of other countries, and that the public-private partnership governance framework, particularly the management and reporting of fiscal risks and fiscal transparency should be improved. Furthermore, the fiscal risks incurred due to contingent liabilities provided within the scope of publicprivate partnership projects have increased. To reduce fiscal risks and improve fiscal transparency in the field of publicprivate partnership, stakeholders must provide contingent liabilities in Turkish Lira rather than foreign currency and avoid long-term guarantees. Moreover, information on guarantees given by institutions that implement public-private partnership projects other than the Treasury should be shared with the public transparently and regularly. Alternatively,all guarantees should be gathered under a single institution and resources should be used effectively and converted into efficient investments and directed to priority sectors. If these objectives are met, it is anticipated that discussions on public-private partnerships in Türkiye will decrease, the potential contributions of these projects will be enhanced, and their positive contribution to Türkiye’s economic performance will increase

Suggested Citation

  • Recep Emre Ericok, 2023. "Public–Private Partnership Practices in the World and Türkiye: A Numerical Analysis," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 10(2), pages 629-661, July.
    • Handle: RePEc:ist:iujepr:v:10:y:2023:i:2:p:629-661
    DOI: 10.26650/JEPR1310789
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    References listed on IDEAS

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    3. Suhaiza Ismail, 2013. "Drivers of value for money public private partnership projects in Malaysia," Asian Review of Accounting, Emerald Group Publishing Limited, vol. 21(3), pages 241-256, September.
    4. Antonio Estache & Stéphane Saussier, 2014. "Public-Private Partnerships and Efficiency: A Short Assessment," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(03), pages 08-13, October.
    5. Hyeon Park & Shin Lee & Jaeyoung Kim, 2018. "Do public private partnership projects deliver value for money? An ex post Value for Money (VfM) Test on three road projects in Korea," International Journal of Urban Sciences, Taylor & Francis Journals, vol. 22(4), pages 579-591, October.
    6. Antonio Estache & Stéphane Saussier, 2014. "Public-Private Partnerships and Efficiency: A Short Assessment," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 12(3), pages 08-13, October.
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    More about this item

    Keywords

    Public-private partnership; Infrastructure investments; Number of projects; Investment value; Government guarantees JEL Classification : H00 ; H43 ; H44;
    All these keywords.

    JEL classification:

    • H00 - Public Economics - - General - - - General
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets

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