IDEAS home Printed from https://ideas.repec.org/a/eee/juipol/v64y2020ics0957178720300394.html
   My bibliography  Save this article

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0957178720300394
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jup.2020.101044?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    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. World Bank, 2016. "World Development Indicators 2016," World Bank Publications - Books, The World Bank Group, number 23969.
    3. International Monetary Fund, 2009. "The Effects of the Financial Crisison Public-Private Partnerships," IMF Working Papers 2009/144, International Monetary Fund.
    4. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Maryati, Sri & Humaira, An Nisaa Siti & Afriana, Anita & Roekmi, Raden Ajeng Koesoemo & Suhartini, Ninik, 2021. "Developer behavior in local infrastructure provision in Indonesia: Implications for policy," Utilities Policy, Elsevier, vol. 70(C).
    2. Athena Roumboutsos & Alenka Temeljotov-Salaj & Iosif Karousos, 2020. "Indicators for Sustainable Demand Risk Allocation in Transport Infrastructure Projects," Sustainability, MDPI, vol. 12(22), pages 1-23, November.
    3. Roumboutsos, Athena & Pantelias, Aristeidis, 2021. "Addressing infrastructure investor risk aversion: Can project delivery resilience ratings help?," Utilities Policy, Elsevier, vol. 71(C).
    4. Marija Z. Ivanović & Đorđe Nedeljković & Zoran Stojadinović & Dejan Marinković & Nenad Ivanišević & Nevena Simić, 2022. "Detection and In-Depth Analysis of Causes of Delay in Construction Projects: Synergy between Machine Learning and Expert Knowledge," Sustainability, MDPI, vol. 14(22), pages 1-23, November.
    5. Shagun Tyagi & Ashulekha Gupta & Nabila Ansari, 2024. "Adoption and perception of banking customers towards green mode of banking: a demonstration of structural equation modelling," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(3), pages 826-842, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. David Martimort & Flavio Menezes & Myrna Wooders & ELISABETTA IOSSA & DAVID MARTIMORT, 2015. "The Simple Microeconomics of Public-Private Partnerships," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(1), pages 4-48, February.
    2. Ricardo Ferreira Reis & Joaquim Miranda Sarmento, 2019. "“Cutting costs to the bone”: the Portuguese experience in renegotiating public private partnerships highways during the financial crisis," Transportation, Springer, vol. 46(1), pages 285-302, February.
    3. Burke, Richard & Demirag, Istemi, 2015. "Changing perceptions on PPP games: Demand risk in Irish roads," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 27(C), pages 189-208.
    4. Moschouli, Eleni & Soecipto, Raden Murwantara & Vanelslander, Thierry, 2019. "Cost performance of transport infrastructure projects before and after the global financial crisis (GFC): Are differences observed in the conditions of project performance?," Research in Transportation Economics, Elsevier, vol. 75(C), pages 21-35.
    5. Jan Fagerberg & Bengt-Åke Lundvall & Martin Srholec, 2018. "Global Value Chains, National Innovation Systems and Economic Development," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 30(3), pages 533-556, July.
    6. Keller, Wolfgang & Utar, Hale, 2023. "International trade and job polarization: Evidence at the worker level," Journal of International Economics, Elsevier, vol. 145(C).
    7. Almeida, Alexandre N. & Bravo-Ureta, Boris E., 2019. "Agricultural productivity, shadow wages and off-farm labor decisions in Nicaragua," Economic Systems, Elsevier, vol. 43(1), pages 99-110.
    8. Dreher, Axel & Fuchs, Andreas & Langlotz, Sarah, 2019. "The effects of foreign aid on refugee flows," European Economic Review, Elsevier, vol. 112(C), pages 127-147.
    9. Iseghohi Judith Omon, 2021. "Migrant Remittances and Health Outcomes in the West Africa Monetary Zones (WAMZ)," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 24(81), pages 15-32, September.
    10. Markus Brueckner & Ngo Van Long & Joaquin L. Vespignani, 2020. "Non-Gravity Trade," Globalization Institute Working Papers 388, Federal Reserve Bank of Dallas.
    11. Tanu M Goyal & Arpita Mukherjee, 2017. "Trade Agreements and Services Value Chain: The Case of India and Thailand," Applied Finance and Accounting, Redfame publishing, vol. 3(1), pages 11-23, February.
    12. Malerba, Daniele, 2020. "Poverty alleviation and local environmental degradation: An empirical analysis in Colombia," World Development, Elsevier, vol. 127(C).
    13. Elisabetta Iossa & David Martimort, 2012. "Risk allocation and the costs and benefits of public--private partnerships," RAND Journal of Economics, RAND Corporation, vol. 43(3), pages 442-474, September.
    14. Dorsch, Michael T. & Maarek, Paul, 2020. "Economic downturns, inequality, and democratic improvements," European Journal of Political Economy, Elsevier, vol. 62(C).
    15. Alfredo Pereira & Jorge Andraz, 2012. "On the economic and budgetary effects of investments in SCUTS: the Portuguese toll-free highways," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 48(1), pages 321-338, February.
    16. Elert, Niklas & Henrekson, Magnus, 2017. "Entrepreneurship and Institutions: A Bidirectional Relationship," Working Paper Series 1153, Research Institute of Industrial Economics, revised 05 May 2017.
    17. Bachewe, Fantu Nisrane & Koru, Bethlehem & Taffesse, Alemayehu Seyoum, 2018. "Productivity and efficiency in high-potential areas," IFPRI book chapters, in: The economics of teff: Exploring Ethiopia’s biggest cash crop, chapter 7, pages 149-180, International Food Policy Research Institute (IFPRI).
    18. Mavisakalyan, Astghik & Tarverdi, Yashar, 2019. "Gender and climate change: Do female parliamentarians make difference?," European Journal of Political Economy, Elsevier, vol. 56(C), pages 151-164.
    19. Oludele Emmanuel Folarin, 2019. "Financial reforms and industrialisation: evidence from Nigeria," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 21(1), pages 166-189, June.
    20. Metaxas, Theodore & Preza, Elisavet, 2012. "Public- Private Partnerships in Southeastern Europe: The case of Croatia," MPRA Paper 43830, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:juipol:v:64:y:2020:i:c:s0957178720300394. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: https://www.sciencedirect.com/journal/utilities-policy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.