Regulating Local Government Financing Vehicles and Public-Private Partnerships in China

Jin, Hui; Rial, Isabel

doi:10.2139/ssrn.2882625

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“…Contracting agencies should not be allowed to offer guarantee-like arrangements or enter into large multiannual spending commitments without prior review and approval by the ministry of finance. The ministry of finance should generally review proposed PPPs at several stages of a "gateway process"; 3 for examples of such processes, see Australian Department of Finance (2016), Jin and Rial (2016), Irwin and Mokdad (2010), and South African National Treasury (n.d.). The first review should take place before the project has built up so much political momentum that it is hard to stop.…”

Section: Governments May Consider the Following Steps To Strengthen T...mentioning

confidence: 99%

How to Control the Fiscal Costs of Public-Private Partnerships

Irwin

2018

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This note discusses what finance ministries can do to ensure that public-private partnerships (PPPs) are used wisely. By inviting private participation in infrastructure development and service provision, PPPs can help improve public services. Yet, strong governance institutions are needed to manage risks and avoid unexpected costs from PPPs. While in the short term, PPPs may appear cheaper than traditional public investment, over time they can turn out to be more expensive and undermine fiscal sustainability, particularly when governments ignore or are unaware of their deferred costs and associated fiscal risks. To use PPPs wisely governments should (1) develop and implement clear rules for their use; (2) identify, quantify, and disclose PPP risks and expected costs; and (3) reform budget and government accounting frameworks to capture all fiscal costs comprehensively.

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Section: Governments May Consider the Following Steps To Strengthen T...mentioning

confidence: 99%

How to Control the Fiscal Costs of Public-Private Partnerships

Irwin

2018

IMF How to Notes

View full text Add to dashboard Cite

show abstract

Regulating Local Government Financing Vehicles and Public-Private Partnerships in China

Cited by 1 publication

References 0 publications

How to Control the Fiscal Costs of Public-Private Partnerships

How to Control the Fiscal Costs of Public-Private Partnerships

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