Remedies to the PPP Crisis in the Covid-19 Pandemic: Lessons from the 2008 Global Financial Crisis

Castelblanco, Gabriel; Guevara, José; Salazar, John

doi:10.1061/(asce)me.1943-5479.0001036

Cited by 30 publications

(10 citation statements)

References 111 publications

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“…These clusters include a special emphasis on user-driven and user-financed PPPs. COVID-19 has triggered significant unprecedented government decisions affecting PPPs, such as stay-at-home, telecommuting, and travel-ban orders, which have affected payment sources such as user payments and fuel taxes [24]. Despite the systematic reduction of payment sources in the short-and middle-term, the infrastructure must be built, operated, and maintained, which requires innovation and flexibility for ongoing PPPs, so to design future PPP programs with significant improvements for increasing resilience [25].…”

Section: Clusters' Discussionmentioning

confidence: 99%

Crisis Driven Literature in PPPs: A Network Analysis

Castelblanco

Guevara

2022

IOP Conf. Ser.: Earth Environ. Sci.

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COVID-19 crisis has simultaneously triggered a global economic crisis whose consequences will lead to a dichotomy where several governments’ debt has grown to unprecedented levels and simultaneously is required to promote new infrastructure supply. This global economic crisis scenario endangers current Public-Private Partnership (PPP) programs given their dependence on payment from the user and/or government subsidies in long-term lifecycles. This study aims for unravelling the PPP research agenda derived from the last global economic crisis in 2008 and the current one for understanding the trends developed as a tool for building a post-pandemic PPP research agenda. For understanding the last global financial crisis PPP literature review and its time and geographic evolution since 2008, this study developed a literature review employing Network Analysis. Therefore, crisis- and PPP-related keywords were combined for establishing the search in the Web of Science database. After removing duplicate papers, 67 peer-reviewed articles were identified for recognizing underpinning topics, potential gaps, and time evolution. The network analysis revealed seven clusters driven by payment sources (i.e., public financial aspects, user payments, and demand), contract mechanisms (i.e., contractual governance, and risk valuation), and project performance (i.e., project performance under crisis and project efficiency). This paper contributes to the PPP body of knowledge by unraveling the post-global economic crisis agenda and its gaps in proposing a new research agenda for overcoming the consequences of the global economic crisis derived from the COVD-19 pandemic.

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Section: Clusters' Discussionmentioning

confidence: 99%

Crisis Driven Literature in PPPs: A Network Analysis

Castelblanco

Guevara

2022

IOP Conf. Ser.: Earth Environ. Sci.

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“…The analysis of the economic constraints of PPPs were analysed with the touch of both non-financial and economic models in transport, schools, hospitals, and playgrounds under the PPP arrangements. Prominent influencing factors that occasion financial difficulties are regulation-related with strict terms and caps on the amount that can be contracted and spent on PPPs [28,29]. The coronavirus pandemic also triggered lockdowns and compulsory restrictions putting on a strain on the usage of PPP infrastructures which are already in operation [30].…”

Section: Financial Risks In Sustainable Ppp Infrastructure Projectsmentioning

confidence: 99%

Fuzzy Analysis of Financial Risk Management Strategies for Sustainable Public-Private Partnership Infrastructure Projects in Ghana

Akomea-Frimpong,

Jin,

Osei-Kyei

2024

Preprint

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Public-private partnership (PPP) is a prominent tool for sustainable infrastructure development. However, the positive contributions of PPPs towards attainment of sustainable, climate resilience and zero carbon infrastructure projects are hampered by poor financial risk management. This problem is more prevalent in developing countries like Ghana where private investment inflow has plummeted due to COVID-19 recession and poor project performance. Thus, this study aims at assessing the key financial risk management strategies in ensuring sustainable PPP infrastructure projects in Ghana. The study utilised primary data from PPP practitioners in Ghana solicited through survey questionnaires. Factor analysis, mean scores and fuzzy synthetic analysis are the data analysis techniques for this study. The results revealed sustainable and green funding models, effective cost reduction initiatives, competent team with committed leadership, and emerging technologies and regulations constitute the key strategies to manage financial risks of sustainable PPP infrastructure projects. Although, future studies must expand the scope of data gathering, the findings of the study enrichen the theoretical understanding of financial risks in sustainable investments in PPP infrastructures. Relevant remedies that will aid the development of practical financial risk management guidelines are provided in this study for PPP practitioners.

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“…Overall, significant communities' involvement incorporates key EIA considerations that only can be properly known by the historic inhabitants of the area. Although previous research has identified the relevance of communities' involvement in improving PPP outcomes (Castelblanco et al 2022d;; further research is required for continuing proper exploration of the complementary role of communities respecting non-preferred proponents and consultants in PPP projects.…”

Section: Involvementmentioning

confidence: 99%

Environmental Impact Assessment Effectiveness in Public–Private Partnerships: Study on the Colombian Toll Road Program

et al. 2023

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Public-private partnership (PPP) has been positioned as a relevant contracting method for developing large-scale infrastructure projects, which entail potentially high-magnitude negative impacts on the environment. The effectiveness of their Environmental Impact Assessment (EIA) is crucial to achieving sustainable development of these large-scale infrastructure projects. To unravel the drivers for the EIA effectiveness and the multiple combinations built by the complexity of these drivers, this paper analyzes 28 road PPP projects from Colombia employing a fuzzy-set qualitative comparative analysis (fsQCA) approach. This paper decodes conjectural causal links between specific conditions grouped in superordinate clusters (i.e., consultants' capability, project features, and communities' participation) and EIA effectiveness dimensions (i.e., normative, procedural, substantive, and transactive). Findings revealed that no single combination of causal conditions ensures multidimensional EIA effectiveness. This study demonstrated that EIA effectiveness relies significantly on the integration of specific features of three external stakeholders: consultants, nonpreferred proponents, and communities. This study constitutes the first empirical multidimensional identification of the combination of conditions that generate EIA effectiveness in road PPPs.

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Remedies to the PPP Crisis in the Covid-19 Pandemic: Lessons from the 2008 Global Financial Crisis

Cited by 30 publications

References 111 publications

Crisis Driven Literature in PPPs: A Network Analysis

Crisis Driven Literature in PPPs: A Network Analysis

Fuzzy Analysis of Financial Risk Management Strategies for Sustainable Public-Private Partnership Infrastructure Projects in Ghana

Environmental Impact Assessment Effectiveness in Public–Private Partnerships: Study on the Colombian Toll Road Program

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