The Effects of the Financial Crisis on Public-Private Partnerships

Burger, Philippe; Tyson, Justin; Karpowicz, Izabela; Coelho, Maria

doi:10.2139/ssrn.1475389

Cited by 15 publications

(6 citation statements)

References 11 publications

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“…Risk is the possibility of adverse events occurring and subsequently causing deviations in actual project outcomes or threatening the successful completion of projects (Aldrete, Bujanda & Valdez-Ceniceros, 2010;Manrique Millones, 2010). As such, PPP risks arise from the uncertainty about the future occurrence of some events and their impact on project activities (Yong, 2010:15), which erupt when vulnerable PPP conditions are exposed to a threat (Burger, Tyson, Karpowicz & Coelho, 2009). Because PPP projects are conducted within a very diverse and evolving environment, they tend to be exposed to numerous risks (see Table 2).…”

Section: Public Private Partnership Risk Managementmentioning

confidence: 99%

“…minimum traffic guarantees); risk retention-where based on experience risks are allocated to parties with capacity to reduce their negative repercussions (e.g. designs risks for engineers, and policy changes for government); and insurancewhere financial cover is made to guard against any loss that may accrue from a negative outcome (Burger et al, 2009).…”

Section: Generic Strategiesmentioning

confidence: 99%

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Epitomising Public Sector Management of Public Private Partnerships: A Trajectory of Good Governance

Mugarura¹,

Ndevu²

2020

PAR

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While research and policy documents seem to equate public private partnerships (PPPs) to a “marriage made in heaven”, globally they have had flimsy impact on public service delivery. Such seem to be caused by myopic governance emanating from scattered PPP governance literature, lack of a clear PPP good governance overview, as well as overemphasis of PPP financing over the wider PPP governance aspects. Using scholarly documents through content analysis, this study therefore intended to identify and examine the elements of a PPP governance system, and thereafter provide strategies of enforcing good governance practices for PPPs to serve their intended purpose. Findings indicate that PPP principles, critical success factors, stakeholder and risk management, and management of PPP maturity trends, make up a PPP good governance system. Finally, for each of the findings established, the study proposes appropriate good governance practices for sustainable PPP interventions.

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Section: Public Private Partnership Risk Managementmentioning

confidence: 99%

Section: Generic Strategiesmentioning

confidence: 99%

Epitomising Public Sector Management of Public Private Partnerships: A Trajectory of Good Governance

Mugarura¹,

Ndevu²

2020

PAR

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“…However, such government support can also pose a significant fiscal risk, especially if the project is backed by a government guarantee. Falling government revenues and shrinking domestic financing, such as government treasury funds, can exacerbate this problem and create long-term budgetary and debtrelated consequences for the government [74]. Table 2 details the fiscal risk indicator.…”

Section: Market Riskmentioning

confidence: 99%

Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

Li,

Wang

2023

Buildings

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As a model for delivering infrastructure initiatives, public–private partnerships (PPPs) have gained significant popularity in recent years. The globalization of PPP has exposed them to elevated risks emanating from the international real economy and financial market, which can ultimately result in project cancellations or distress. This study analyzes risk factors affecting the sustainable outcomes of global PPP projects from a stakeholder perspective. After identifying the interests of key stakeholders and examining how various risks influence stakeholders’ interests, a two-step binomial probit model is used to investigate domestic and international risk factors in PPP arrangements based on the World Bank PPI database. The empirical results indicate that inflation has a substantially positive effect on project failure, while factors such as PPP experience, central government involvement, exchange rate fluctuations, etc., significantly contribute to PPP success. In addition, the study demonstrates that trade openness and net foreign direct investment (FDI) inflow are crucial for the transmission of global risks. The study also provides policy implications and recommendations from a risk allocation–stakeholder relationship perspective to enhance the resilience of PPP initiatives based on these findings.

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“…The international financial crisis has magnified macroeconomic risks, affecting the perceptions about risks by the various PPP parties and the private sector risk-return trade-off (Tyson, Karpowicz, Coelho, & Burger, 2009). On the other hand, limited access to finance and uncertainty increased the cost of borrowing for PPPs.…”

Section: Barriers To Pppsmentioning

confidence: 99%

System dynamics approaches to public–private partnerships: A literature review

Pagoni

Georgiadis

2019

Syst Res Behav Sci

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Increased complexity has been recognized as a dominant characteristic of public–private partnerships (PPPs). In this article, we review system dynamics (SD) approaches to the PPP field because SD modelling can support the policymaking process in systems with increased structural and functional complexity. Although papers published in journals and conferences have documented SD approaches to PPP problems, there appears to be a lack of systematically reviewing what they have already provided. The objectives are to compare the findings of the studies to provide insights for directing further PPP research with the use of SD. To achieve the review objectives, we categorize the papers by the problem topic raised and provide a summary of particular insights. Problem topics include construction risk assessment, risk allocation, project financing, performance of infrastructure, demand forecast, procurement strategies, and strategic policy at national levels. The paper concludes with recommendations for future SD applications.

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The Effects of the Financial Crisis on Public-Private Partnerships

Cited by 15 publications

References 11 publications

Epitomising Public Sector Management of Public Private Partnerships: A Trajectory of Good Governance

Epitomising Public Sector Management of Public Private Partnerships: A Trajectory of Good Governance

Exploring Risk Factors Affecting Sustainable Outcomes of Global Public–Private Partnership (PPP) Projects: A Stakeholder Perspective

System dynamics approaches to public–private partnerships: A literature review

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