Barriers to the implementation of innovative financing (IF) of infrastructure

Badu, Eric; Edwards, David J.; Owusu‐Manu, De‐Graft; Brown, Darrell

doi:10.1108/13664381211274362

Cited by 55 publications

(76 citation statements)

References 22 publications

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“…The study revealed some reasons for delayed payments to include poor planning and bureaucracy on the part of the employer. This confirms earlier studies by Fugah and Agyarkwa [2] and Badu et al [18] about untimely payment of certificate by clients. The survey indicated that cash flow is a major challenge based on the contractors experience in an interview.…”

Section: Financial Challengessupporting

confidence: 82%

“…This confirms a study by Ofori-Kuragu et al [6] in which they mention among others, difficulty in accessing credit facilities by contractors. The results show a continuous trend of funding challenges as state earlier by Badu et al [18]. Internally generated fund (IGF) as a solution to financing public project seems very critical to the respondents.…”

Section: Source Of Fundingsupporting

confidence: 57%

“…The potential reasons for construction delays of public projects has been due to untimely honoring of certificate by client, credit inaccessibility by contractors and price fluctuations [2]. Badu et al [18] confirmed this by stating that both large and small-scale contractors experience difficulty in accessing funds. It is enshrined in the general public contract conditions of the Public Procurement Authority (PPA) [19], that certificates be honored within 28 days of issuance of a claim but this barely happens especially with contracts involving local contractors.…”

Section: Literature Reviewsupporting

confidence: 51%

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Investigating Challenges in Financing Contractors for Public Sector Projects in Ghana

Ofori¹,

Twumasi-Ampofo²,

Danquah³

et al. 2017

JBCPR

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Contractors working with the Public sector encounter numerous challenges in financing projects in Ghana. The challenges which have persisted over the years are both financial and managerial. This paper seeks to ascertain the extent to which contractors' challenges in acquiring funds to execute public sector projects have been solved. The study involved both qualitative and quantitative methods to ascertain the various strategies the contractors go through to obtain public sector projects focusing on the challenges associated with the project execution. The study revealed that delayed payments and inadequate cash flow on the part of government, lack of credit worthiness and inadequate collateral security from contractors are key determinants to challenges associated with financing public sector projects in Ghana. This paper recommends the establishment of a Construction Development Authority (CDA), within the Ministry of Works and Housing to develop financial plans, policies and laws for this important sector of the economy.

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Section: Financial Challengessupporting

confidence: 82%

Section: Source Of Fundingsupporting

confidence: 57%

Section: Literature Reviewsupporting

confidence: 51%

See 1 more Smart Citation

Investigating Challenges in Financing Contractors for Public Sector Projects in Ghana

Ofori¹,

Twumasi-Ampofo²,

Danquah³

et al. 2017

JBCPR

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“…The methodology of any study relies upon the philosophy underpinning the research (Dainty, 2007;Badu et al, 2012). Saunders et al (2012) asserted that there are several research philosophies available to the researchers.…”

Section: Methodsmentioning

confidence: 99%

Opportunities and challenges of foreign direct investment utilisation and its impact on construction sector in developing countries

Babatunde

Awodele

Adeniyi

2018

JFMPC

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Purpose -Foreign direct investment (FDI) inflows to both developed and developing countries have increased over the past three decades. However, investigation of opportunities and challenges associated with FDI on the host economy and its impact especially on the construction sector through empirical assessment, have received scant attention. The purpose of this study is to address this gap in knowledge within the Nigerian context; and examine the trend of FDI inflows to the construction sector for the period 2000-2013 inclusive. Relationships between contributions of the construction sector to Nigeria's Gross Domestic Product (GDP) are also studied.Design/methodology/approach-The study adopted used a literature review, a questionnaire survey, and archival data culminated in data analysis. The survey targeted financial experts in Nigerian financial institutions/local banks. Archival data included the annualised data extracted from the Central Bank of Nigeria (CBN) statistical bulletins. The period examined witnessed stable economic conditions. Data collected were analysed using mean score, factor analysis, and correlation.Findings -Eight identified opportunities of utilising FDI were grouped into three principal factors: knowledge spillovers; capital for new investment; and resilience during financial crises. The 10 identified FDI challenges were grouped into three major factors: loss of ownership advantage and additional costs; crowding-out of national firms; and administrative bottlenecks and overdependence. Based on the hypotheses tested, the study found a significant relationship between the contributions of FDI inflows in the construction sector and the total GDP of the host country.Practical implications -This study provides greater insight on the effects of FDI on a host economy in developing countries, which would help policymakers to examine existing policies, and look for new ways of increasing foreign investment flow,. eEspecially in the area of Construction Facility Investment (CFI).Originality/value -This study is important because it would enable informs policymakers in developing countries at large, to promote FDI with special considerations for the construction sector of the economy.

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“…Ngowi et al (2006) described the globalisation of infrastructure developments and their financing. The impact of this trend has already driven procurement and participation changes in many parts of the developing world (Badu et al 2012). The construction of 'mega-projects' has seen a dramatic rise in multi-national construction effort in many parts of the world.…”

Section: Globalisationmentioning

confidence: 99%

Preparing Students for a Disruptive Construction Future

Hardie¹

EPiC Series in Education Science

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Many industries have felt the impact of disruptive change on their profitability and established practices. Examples of disruption have been documented in industries as diverse as transportation, photography, newspapers, retailing, recorded music and computer graphics. The construction industry has mostly avoided large-scale disruption because, in spite of the globalisation evident in mega projects, most construction is locally-based and delivered within a specific national context and regulatory system. This may be about to change. The forces of digitisation, industrialisation and globalisation are combining to generate the potential for disruptive enterprises which will grab market share and shake up existing business models. As academics striving to prepare students to be employment-ready, we need to open their eyes to the potential of the new economy to support new business models that are quite different from traditional construction companies. Students will need to be entrepreneurial in seeking out opportunities and identifying market niches. In two new and developing units/subjects at an Australian university these issues are being raised. Students are challenged to identify markets and market strategies enabled by social enterprises, collaborative systems, the 'Internet of Things' and even 'Brutal Innovation'. Using student feedback and reflective practice, the lessons from the first two offerings of the new units are identified and teased out. In general, students respond well to the challenge of strategic thinking which relates to their future careers. While predicting the future is always fraught with difficulty, not attempting to do so could leave us vulnerable to disruptive change.

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Barriers to the implementation of innovative financing (IF) of infrastructure

Cited by 55 publications

References 22 publications

Investigating Challenges in Financing Contractors for Public Sector Projects in Ghana

Investigating Challenges in Financing Contractors for Public Sector Projects in Ghana

Opportunities and challenges of foreign direct investment utilisation and its impact on construction sector in developing countries

Preparing Students for a Disruptive Construction Future

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