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Has the latest global financial crisis changed the way road public-private partnerships are funded? A comparison of Europe and Latin America

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  • Nikolić, Ana
  • Roumboutsos, Athena
  • Stanković, Jelena Ćirilović
  • Mladenović, Goran

Abstract

A financial/economic crisis may have an adverse effect on transport public-private partnerships (PPPs) as both traffic demand is negatively influenced, and governments are further under pressure. However, research on awarded road PPP contracts over a 20-year period in the European Union (EU) and Latin America and the Caribbean (LAC) showed that the market slowdown is brief and followed by a re-bounce leading to an overall upward trend. The LAC region has experienced multiple financial setbacks with no significant change in the PPP market structure as opposed to the EU, where significant changes were observed concerning a shift in the remuneration schemes employed.

Suggested Citation

  • Nikolić, Ana & Roumboutsos, Athena & Stanković, Jelena Ćirilović & Mladenović, Goran, 2020. "Has the latest global financial crisis changed the way road public-private partnerships are funded? A comparison of Europe and Latin America," Utilities Policy, Elsevier, vol. 64(C).
    • Handle: RePEc:eee:juipol:v:64:y:2020:i:c:s0957178720300394
    DOI: 10.1016/j.jup.2020.101044
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    References listed on IDEAS

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    1. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2013. "The Basic Public Finance Of Public–Private Partnerships," Journal of the European Economic Association, European Economic Association, vol. 11(1), pages 83-111, February.
    2. Kappeler, Andreas & Nemoz, Mathieu, 2010. "Public-Private Partnerships in Europe - Before and During the Recent Financial Crisis," Economic and Financial Reports 2010/4, European Investment Bank, Economics Department.
    3. World Bank, 2016. "World Development Indicators 2016," World Bank Publications - Books, The World Bank Group, number 23969.
    4. International Monetary Fund, 2009. "The Effects of the Financial Crisison Public-Private Partnerships," IMF Working Papers 2009/144, International Monetary Fund.
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