IDEAS home Printed from https://ideas.repec.org/a/eee/transa/v130y2019icp107-117.html
   My bibliography  Save this article

Stochastic simulated rents in Portuguese public-private partnerships

Author

Listed:
  • Matos, José M.A.
  • Ramos, Sandra
  • Costa, Vítor

Abstract

This paper aims to study the contracts of the Portuguese Public-Private Partnerships (PPP) of the motorway sector which represent an important part of the Annual Portuguese State Budget, as well as a crucial contribution to the Portuguese Public Debt. Once the formulae determining annual rents due to the private partners depend on stochastic variables, their simulation is binding. Otherwise, the Public Finances can suffer large losses. Our study is essential aiming to defend the Public interest and the political transparency as well as to present tools to prevent future excessive costs.

Suggested Citation

  • Matos, José M.A. & Ramos, Sandra & Costa, Vítor, 2019. "Stochastic simulated rents in Portuguese public-private partnerships," Transportation Research Part A: Policy and Practice, Elsevier, vol. 130(C), pages 107-117.
    • Handle: RePEc:eee:transa:v:130:y:2019:i:c:p:107-117
    DOI: 10.1016/j.tra.2019.09.005
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0965856418301484
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.tra.2019.09.005?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. N. Carbonara & N. Costantino & L. Gunnigan & R. Pellegrino, 2015. "Risk Management in Motorway PPP Projects: Empirical-based Guidelines," Transport Reviews, Taylor & Francis Journals, vol. 35(2), pages 162-182, March.
    2. Russell Davidson & James MacKinnon, 2000. "Bootstrap tests: how many bootstraps?," Econometric Reviews, Taylor & Francis Journals, vol. 19(1), pages 55-68.
    3. Rangel, Thais & Vassallo, José Manuel & Arenas, Blanca, 2012. "Effectiveness of safety-based incentives in Public Private Partnerships: Evidence from the case of Spain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(8), pages 1166-1176.
    4. Montero, Pablo & Vilar, José A., 2014. "TSclust: An R Package for Time Series Clustering," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 62(i01).
    5. Joaquim Miranda Sarmento, 2010. "Do Public-Private Partnerships Create Value for Money for the Public Sector? The Portuguese Experience," OECD Journal on Budgeting, OECD Publishing, vol. 10(1), pages 1-27.
    6. Viegas, José M., 2010. "Questioning the need for full amortization in PPP contracts for transport Infrastructure," Research in Transportation Economics, Elsevier, vol. 30(1), pages 139-144.
    7. Donald W. K. Andrews & Moshe Buchinsky, 2000. "A Three-Step Method for Choosing the Number of Bootstrap Repetitions," Econometrica, Econometric Society, vol. 68(1), pages 23-52, January.
    8. Tahir Nisar, 2007. "Risk Management in Public–Private Partnership Contracts," Public Organization Review, Springer, vol. 7(1), pages 1-19, March.
    Full references (including those not matched with items on IDEAS)

    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. Daiki Maki & Yasushi Ota, 2021. "Testing for Time-Varying Properties Under Misspecified Conditional Mean and Variance," Computational Economics, Springer;Society for Computational Economics, vol. 57(4), pages 1167-1182, April.
    2. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Other publications TiSEM b9218010-a357-4c0a-805a-7, Tilburg University, School of Economics and Management.
    3. Cavaliere, Giuseppe & Nielsen, Morten Ørregaard & Taylor, A.M. Robert, 2015. "Bootstrap score tests for fractional integration in heteroskedastic ARFIMA models, with an application to price dynamics in commodity spot and futures markets," Journal of Econometrics, Elsevier, vol. 187(2), pages 557-579.
    4. Burridge, Peter & Robert Taylor, A. M., 2004. "Bootstrapping the HEGY seasonal unit root tests," Journal of Econometrics, Elsevier, vol. 123(1), pages 67-87, November.
    5. Boswijk, H. Peter & Cavaliere, Giuseppe & Rahbek, Anders & Taylor, A.M. Robert, 2016. "Inference on co-integration parameters in heteroskedastic vector autoregressions," Journal of Econometrics, Elsevier, vol. 192(1), pages 64-85.
    6. Giuseppe Cavaliere & Heino Bohn Nielsen & Anders Rahbek, 2017. "On the Consistency of Bootstrap Testing for a Parameter on the Boundary of the Parameter Space," Journal of Time Series Analysis, Wiley Blackwell, vol. 38(4), pages 513-534, July.
    7. Guo Wenge & Peddada Shyamal, 2008. "Adaptive Choice of the Number of Bootstrap Samples in Large Scale Multiple Testing," Statistical Applications in Genetics and Molecular Biology, De Gruyter, vol. 7(1), pages 1-21, March.
    8. Corradi, Valentina & Swanson, Norman R., 2006. "Bootstrap conditional distribution tests in the presence of dynamic misspecification," Journal of Econometrics, Elsevier, vol. 133(2), pages 779-806, August.
    9. Gospodinov, Nikolay, 2002. "Median unbiased forecasts for highly persistent autoregressive processes," Journal of Econometrics, Elsevier, vol. 111(1), pages 85-101, November.
    10. Giuseppe Cavaliere & Anders Rahbek, 2019. "A Primer On Bootstrap Testing Of Hypotheses In Time Series Models: With An Application To Double Autoregressive Models," Discussion Papers 19-03, University of Copenhagen. Department of Economics.
    11. Andrews, Donald W. K. & Buchinsky, Moshe, 2001. "Evaluation of a three-step method for choosing the number of bootstrap repetitions," Journal of Econometrics, Elsevier, vol. 103(1-2), pages 345-386, July.
    12. Daiki Maki & Yasushi Ota, 2019. "Testing for time-varying properties under misspecified conditional mean and variance," Papers 1907.12107, arXiv.org, revised Aug 2019.
    13. Carlos Oliveira Cruz & Joaquim Miranda Sarmento, 2018. "Maximizing the value for money of road projects through digitalization," Competition and Regulation in Network Industries, , vol. 19(1-2), pages 69-92, March.
    14. Bruggeman, Annick & Donati, Paola & Warne, Anders, 2003. "Is the demand for euro area M3 stable?," Working Paper Series 255, European Central Bank.
    15. Hahn, Georg, 2020. "On the expected runtime of multiple testing algorithms with bounded error," Statistics & Probability Letters, Elsevier, vol. 165(C).
    16. Andreas Hagemann, 2017. "Cluster-Robust Bootstrap Inference in Quantile Regression Models," Journal of the American Statistical Association, Taylor & Francis Journals, vol. 112(517), pages 446-456, January.
    17. Brian P. Poi, 2004. "From the help desk: Some bootstrapping techniques," Stata Journal, StataCorp LP, vol. 4(3), pages 312-328, September.
    18. Awartani, Basel M.A. & Corradi, Valentina, 2005. "Predicting the volatility of the S&P-500 stock index via GARCH models: the role of asymmetries," International Journal of Forecasting, Elsevier, vol. 21(1), pages 167-183.
    19. M.L. Nores & M.P. Díaz, 2016. "Bootstrap hypothesis testing in generalized additive models for comparing curves of treatments in longitudinal studies," Journal of Applied Statistics, Taylor & Francis Journals, vol. 43(5), pages 810-826, April.
    20. Henryk Gurgul & Łukasz Lach, 2011. "The impact of regional disparities on economic growth," Operations Research and Decisions, Wroclaw University of Science and Technology, Faculty of Management, vol. 21(2), pages 17-43.

    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:transa:v:130:y:2019:i:c:p:107-117. 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: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description .

    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.