Using PPP to Procure Social Infrastructure: Lessons From 20 Years of Experience in Ireland

O'shea, Cian; Palcic, Dónal; Reeves, Eoin

doi:10.1177/1087724x19899100

Cited by 16 publications

(16 citation statements)

References 14 publications

(14 reference statements)

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“…We recognize comparable cases have been documented in the literature highlighting lessons of location specific institutional evolution (see for example: Chan, 2020; Biygautane, 2022; Biygautane et al. , 2019; Chan, 2020; Malpass, 2011; Reeves, 2015; O'Shea et al. , 2020).…”

Section: Discussion and Conclusion: Achievements Lessons Challenges A...supporting

confidence: 65%

Public-private partnership in Alberta, Canada: a path dependence perspective

Opara

Rankin

Ling

et al. 2022

AAAJ

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PurposeIn this study, the authors revisit Alberta's public-private partnership (P3) program after 20 years of field level experience by retracing its historical emergence and institutional evolution given its political context. Specifically, the authors adopt a path dependence perspective to reconstruct and reexamine Alberta's P3 program emergence, reflect on the successes achieved, and articulate challenges that must be overcome to institutionalize P3s as part of Alberta's infrastructure delivery environment in the future.Design/methodology/approachAdopting a constructivist approach and a case-based methodology, the authors (re)analyze the activities of governmental agents, private industry, and other actors as part of a new infrastructure policy introduced in 2002 to transform the provincial institutional landscape to accommodate P3.FindingsThe authors find Alberta's P3 emergence was driven by the necessity of its infrastructure deficits, political expediency, and resource scarcity. Furthermore, with well-entrenched conservative political actors as gatekeepers, Alberta's P3 implementation demonstrated stability and incremental change simultaneously, consistent with core elements of path dependency. Following the introduction of P3 in Alberta, the province lacked formal institutional structures that would transition its P3 program from good to great and enable it to become firmly embedded in the public infrastructure delivery landscape. With the subsequent absence of P3-convinced (political) leadership and uncertainty about its P3 policy direction, Alberta was unable or unwilling to consolidate the progress made at the start of the program.Originality/valueMost recently, the emergence of new political leadership in Alberta has (re)catalyzed policy progress, pointing toward a more methodical program approach, and suggesting a rediscovered confidence in P3s in the province with the establishment of a P3 Office (P3O), including nascent formal rules for unsolicited bids. These recent changes in our view make for a much more anchored policy and could lead to program sustainability and eventual institutionalization. Given the unpredictability of the recent political change, a more robust analysis of the relationship between political party control, leadership, and P3 stability is required to anticipate future policy and organizational obstacles.

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Section: Discussion and Conclusion: Achievements Lessons Challenges A...supporting

confidence: 65%

Public-private partnership in Alberta, Canada: a path dependence perspective

Opara

Rankin

Ling

et al. 2022

AAAJ

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“…Over the last two decades, 24 projects of total capital value of over €5 billion have been implemented [4]. O'Shea and coauthors state that the Ministry of Public Expenditure and Reform in the Review of the Capital Plan 2016-2021 identified three phases in the development of PPPs in Ireland [40]: (1) the first phase of the PPP development was focused on travel infrastructure and primary education, (2) the second phase of development was concerning social housing, (3) while the third included projects regarding higher education, health, and courts.…”

Section: Review Of Previous Research In This Areamentioning

confidence: 99%

Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

2020

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In the initial stages of the adoption and institutionalization of Public-Private Partnerships (PPPs), national governments of transitional economies have accepted, developed, and organized Public-Private Partnerships with varying degrees of success. This study aims to investigate the critical success factors (CSFs) influencing the establishment of a sustainable Public-Private Partnership in transition conditions. In the first part of the paper, based on an extensive review of the literature, previous studies and relevant results in this field are presented as a background for this research. In the second part of this article, the survey used a factor analysis, which, with the application of the Principal Component Analysis and Varimax method with Kaiser normalization, has extracted four CSFs: (1) the establishment of a central PPP unit—knowledge center; (2) the establishment of a compatible legal/regulatory framework; (3) development of national PPP policies and strategies; and (4) standardization and transparency of the process. In the concluding remarks, the authors address the perspectives and methodological research constraints, examining possibilities to develop new knowledge and more efficient Public-Private Partnership implementation in the developing PPP markets of transitional economies.

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“…Public-Private Partnership (PPP) mechanisms, involving cross-sector collaboration, have become an increasingly important tool of government action to deliver social infrastructure including urban and rural regeneration schemes. International experience with PPP approaches has been mixed regarding the governance of PPP procurement including issues in relation to ex-ante and ex-post evaluation of Value For Money (VFM) and risk transfer [31,32]. The European PPP Expertise Centre (EPEC) suggests that the successful use of the PPP mechanism depends on conducive legal regulatory and institutional framework and processes [33,34].…”

Section: Public-private Partnerships Structuresmentioning

confidence: 99%

Investment Leverage for Adaptive Reuse of Cultural Heritage

Pickerill

2021

Sustainability

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This article tracks the design of a panoptic toolkit of complementary financial (grant and endowment, tax, debt and equity) and non-financial (regulation, real estate, risk mitigation and performance, capacity building, impact metric and digital network) instruments, designed to leverage capital investment and engender collaborative partnerships, to encourage investment capital to flow to cultural heritage adaptive reuse activities. Cultural heritage activities encompass adaptive reuse and energy retrofit of built heritage structures, protecting natural eco-systems and enabling local community enterprise activities. These activities embody circular economy dimensions, that stimulate social, cultural, environmental and economic regeneration, within the global value chain. Many cultural heritage investments entail long-term time horizons, requiring patient investment strategies. Consideration of the financial landscape, with regard to capital investment leverage is as much about understanding the motivations of participants to engage in the capital markets, as about innovations in financial instruments to safeguard cultural heritage values. Individual financial instruments, within the toolkit, such as debt and equity tools, are not new and some have a long association within traditional capital markets. What is new, is a framework for the engagement of blended complementary instruments, pooled within diverse multidisciplinary collaborative social enterprise fund structures, to achieve intentional and measurable impact investment returns. Risk adjusted investment return metrics include the analysis of socio-cultural and environmental impact returns in unison with market based financial returns, including below market returns in some instances. A case study of a revolving social impact fund is provided to give a practical example of combined complementary hybrid financial instruments within a collaborative funding structure. The ultimate choice and design of blended and pooled hybrid tool combinations and hybrid fund structures will change from building to building, and community to community, but must always prioritize the need to protect people and ecosystems in parallel with saving vulnerable cultural heritage resources. The selection of tailored hybrid financial instruments, to enhance circular economy transitionary ambitions, must remain flexible within a long-term collaborative investment strategy. The key change in mindset, central to cultural heritage financial toolkit development, is the enablement of capital leverage investment strategies that prioritize people and the ecosystem over pure profit motivation.

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Using PPP to Procure Social Infrastructure: Lessons From 20 Years of Experience in Ireland

Cited by 16 publications

References 14 publications

Public-private partnership in Alberta, Canada: a path dependence perspective

Public-private partnership in Alberta, Canada: a path dependence perspective

Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

Investment Leverage for Adaptive Reuse of Cultural Heritage

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