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IPPP – Risks and opportunities An economic perspective

Listed author(s):
  • Julie de Brux

    (Sorbonne Graduate Business School)

  • Frédéric Marty

    (Groupe de Recherche en Droit, Economie et Gestion (GREDEG))

This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer, or additional financial cost, they may induce some intrinsic risks, related to alterations of the contractual incentive structure and judicial challenges. Based on economic theory, we stem some recommendations and comments about the adequacy of legal requirements with economic normative views.

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File URL: http://spire.sciencespo.fr/hdl:/2441/3n1h5ijlcf80v9csi63s61fdvk/resources/wp2014-11.pdf
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Paper provided by Sciences Po in its series Sciences Po publications with number 2014-11.

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Date of creation: May 2014
Handle: RePEc:spo:wpmain:info:hdl:2441/3n1h5ijlcf80v9csi63s61fdvk
Contact details of provider: Web page: http://www.sciencespo.fr/

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  1. Marian W. Moszoro & Pablo T. Spiller, 2012. "Third-Party Opportunism and the Nature of Public Contracts," NBER Working Papers 18636, National Bureau of Economic Research, Inc.
  2. da Cruz, Nuno F. & Marques, Rui Cunha, 2012. "Mixed companies and local governance: no man can serve two masters," LSE Research Online Documents on Economics 59778, London School of Economics and Political Science, LSE Library.
  3. Dewatripont, Mathias & Legros, Patrick, 2005. "Public-private partnerships: contract design and risk transfer," EIB Papers 5/2005, European Investment Bank, Economics Department.
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  9. Engel, Eduardo & Fischer, Ronald & Galetovic, Alexander, 2010. "The economics of infrastructure finance: Public-Private Partnerships versus public provision," EIB Papers 2/2010, European Investment Bank, Economics Department.
  10. Frederic Marty & Arnaud Voisin, 2008. "Partnership contracts, project finance and information asymmetries: from competition for the contract to competition within the contract?," Documents de Travail de l'OFCE 2008-06, Observatoire Francais des Conjonctures Economiques (OFCE).
  11. Michel Mougeot & Florence Naegelen, 2007. "Was Chadwick right?," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 30(2), pages 121-137, March.
  12. Schmidt, Klaus M, 1996. "The Costs and Benefits of Privatization: An Incomplete Contracts Approach," Journal of Law, Economics and Organization, Oxford University Press, vol. 12(1), pages 1-24, April.
  13. N.F. Cruz & R.C. Marques & A. Marra & C. Pozzi, 2014. "Local Mixed Companies: The Theory And Practice In An International Perspective," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 85(1), pages 1-9, 03.
  14. Philippe Burger & Ian Hawkesworth, 2011. "How To Attain Value for Money: Comparing PPP and Traditional Infrastructure Public Procurement," OECD Journal on Budgeting, OECD Publishing, vol. 11(1), pages 91-146.
  15. Elisabetta Iossa & David Martimort, 2012. "Risk allocation and the costs and benefits of public--private partnerships," RAND Journal of Economics, RAND Corporation, vol. 43(3), pages 442-474, 09.
  16. Maskin, Eric & Tirole, Jean, 2008. "Public-private partnerships and government spending limits," International Journal of Industrial Organization, Elsevier, vol. 26(2), pages 412-420, March.
  17. repec:hrv:faseco:30727607 is not listed on IDEAS
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