Financial system dynamics model for multidimensional flexibility in toll road PPPs: a life-cycle analysis

Castelblanco, Gabriel; Guevara, Jose; Mangano, Giulio; Rafele, Carlo

doi:10.1080/01446193.2024.2335566

Construction Management and Economics

2024

DOI: 10.1080/01446193.2024.2335566

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Financial system dynamics model for multidimensional flexibility in toll road PPPs: a life-cycle analysis

Gabriel Castelblanco,

Jose Guevara,

Giulio Mangano

et al.

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2024

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Cited by 3 publications

References 65 publications

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Influence of macroeconomic factors on construction costs: an analysis of project cases

Castelblanco,

Fenoaltea,

De Marco

et al. 2024

Construction Management and Economics

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Influence of macroeconomic factors on construction costs: an analysis of project cases

Castelblanco,

Fenoaltea,

De Marco

et al. 2024

Construction Management and Economics

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Pandemic risks in PPPs: comparative analysis within developing countries

Castelblanco,

Narbaev,

Osei-Kyei

et al. 2024

International Journal of Construction Management

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Cross-Country Comparison of Risk Factors in Public–Private Partnerships in Infrastructure Development: Evidence from Colombia, Kazakhstan, and Ghana

Samoilov,

Osei-Kyei,

Kussaiyn

et al. 2024

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Governments enter into public–private partnership (PPP) agreements to attract private financing and bring innovation to the development of their sustainable public infrastructure; however, PPP projects are marked by their complexity and are driven by uncertain economic and institutional environments. The purpose of this study is to conduct a cross-country comparison of PPP risks in three developing countries (Colombia, Kazakhstan, and Ghana) and provide insights into their best practices. The research surveyed diverse risk factors involving 261 local respondents with pertinent experience in PPPs. The study conducted Cronbach’s alpha and Kendall’s coefficient of concordance tests to check the validity of responses, an ANOVA test to examine the differences in the risk perceptions, and risk ranking to reveal the country-specific as well as top-rank risks in the countries. The results of the quantitative analysis revealed risk aversion among developing countries with PPP programs at different maturity stages. Less mature programs, with lower overall investment, exhibited greater overall risk aversion (for Kazakhstan) and greater concerns about transparency and corruption (for Ghana). Highly populated countries with more mature PPP programs that rely significantly on transportation projects demonstrated higher risk aversion regarding the social and political legitimacy of PPPs and land acquisition (for Colombia).

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Financial system dynamics model for multidimensional flexibility in toll road PPPs: a life-cycle analysis

Cited by 3 publications

References 65 publications

Influence of macroeconomic factors on construction costs: an analysis of project cases

Influence of macroeconomic factors on construction costs: an analysis of project cases

Pandemic risks in PPPs: comparative analysis within developing countries

Cross-Country Comparison of Risk Factors in Public–Private Partnerships in Infrastructure Development: Evidence from Colombia, Kazakhstan, and Ghana

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