IDEAS home Printed from https://ideas.repec.org/a/kap/porgrv/v23y2023i4d10.1007_s11115-022-00689-8.html
   My bibliography  Save this article

Public–Private Partnerships: Left or Right Government Economic Policy?

Author

Listed:
  • Vicente Alcaraz Carrillo de Albornoz

    (Universidad Politécnica de Madrid
    UD Economía)

  • Antonio Lara Galera

    (Universidad Politécnica de Madrid)

  • Juan Molina Millán

    (Universidad Politécnica de Madrid)

  • Belén Muñoz Medina

    (Universidad Politécnica de Madrid)

Abstract

Public–Private Partnerships (PPPs) are long-term arrangements in which the private sector usually finances a substantial portion of the project’s capital expenditure. In this sense, many consider PPPs as a market-oriented (and thus a conservative or right government) policy. Nevertheless, a review of what has been happening over the past four decades around the world suggests that PPPs are not an ideological policy, since governments of all political orientations (centre, left and right) have adopted them, existing an important relationship between the number of projects they have implemented and the time they have stayed in office. PPPs have reached financial close under governments of all ideologies, and with a similar annual average in number. The average size of PPP projects that reached financial close under left governments is however smaller.

Suggested Citation

  • Vicente Alcaraz Carrillo de Albornoz & Antonio Lara Galera & Juan Molina Millán & Belén Muñoz Medina, 2023. "Public–Private Partnerships: Left or Right Government Economic Policy?," Public Organization Review, Springer, vol. 23(4), pages 1523-1544, December.
    • Handle: RePEc:kap:porgrv:v:23:y:2023:i:4:d:10.1007_s11115-022-00689-8
    DOI: 10.1007/s11115-022-00689-8
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11115-022-00689-8
    File Function: Abstract
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11115-022-00689-8?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. Eoin Reeves & Dónal Palcic & Darragh Flannery & R. Richard Geddes, 2017. "The determinants of tendering periods for PPP procurement in the UK: an empirical analysis," Applied Economics, Taylor & Francis Journals, vol. 49(11), pages 1071-1082, March.
    2. Stephen Perz, 2012. "Social Mobilization in Protest of Trans-boundary Highway Projects: Explaining Contrasting Implementation Outcomes," Development and Change, International Institute of Social Studies, vol. 43(3), pages 797-821, May.
    3. Huanming Wang & Wei Xiong & Guangdong Wu & Dajian Zhu, 2018. "Public–private partnership in Public Administration discipline: a literature review," Public Management Review, Taylor & Francis Journals, vol. 20(2), pages 293-316, February.
    4. Roberto Pietroforte & Tullio Gregori, 2003. "An input-output analysis of the construction sector in highly developed economies," Construction Management and Economics, Taylor & Francis Journals, vol. 21(3), pages 319-327.
    5. Timur Narbaev & Alberto De Marco & Nurlan Orazalin, 2020. "A multi-disciplinary meta-review of the public–private partnerships research," Construction Management and Economics, Taylor & Francis Journals, vol. 38(2), pages 109-125, February.
    6. Andrew Berg & Rafael Portillo & Shu-Chun S Yang & Luis-Felipe Zanna, 2013. "Public Investment in Resource-Abundant Developing Countries," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 61(1), pages 92-129, April.
    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. Alcaraz Carrillo de Albornoz, Vicente & Sánchez Soliño, Antonio & Lara Galera, Antonio & Isabel Álvarez, José Miguel, 2021. "Bankrupt PPPs: Is it really so bad? Case study of R-3 and R-5 toll motorways in Spain," Transport Policy, Elsevier, vol. 114(C), pages 78-87.
    2. Roberto Moro-Visconti, 2021. "Networking Digital Platforms and Healthcare Project Finance Bankability," Sustainability, MDPI, vol. 13(9), pages 1-18, April.
    3. Edouard Mien & Michaël Goujon, 2022. "40 Years of Dutch Disease Literature: Lessons for Developing Countries," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 64(3), pages 351-383, September.
    4. Ngomba Bodi, Francis Ghislain, 2022. "External constraint and procyclicality of monetary policy of the Bank of Central African States (BEAC)," MPRA Paper 116375, University Library of Munich, Germany.
    5. Luo, Lanlan & Zou, Ziran & Chen, Shou, 2021. "Discounting for public-private partnership projects in China," Economic Modelling, Elsevier, vol. 98(C), pages 218-226.
    6. van der Ploeg, Frederick, 2019. "Macro policy responses to natural resource windfalls and the crash in commodity prices," Journal of International Money and Finance, Elsevier, vol. 96(C), pages 263-282.
    7. Rod Tyers & Aaron Walker, 2016. "Quantifying Australia's ‘Three-Speed’ Boom," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 49(1), pages 20-43, March.
    8. Mr. Tokhir N Mirzoev & Ling Zhu, 2019. "Rethinking Fiscal Policy in Oil-Exporting Countries," IMF Working Papers 2019/108, International Monetary Fund.
    9. Roberto Pietroforte & Tullio Gregori, 2006. "Does volume follow share? The case of the Danish construction industry," Construction Management and Economics, Taylor & Francis Journals, vol. 24(7), pages 711-715.
    10. Lukas Vogel & Stefan Hohberger & Bernhard Herz, 2015. "Should Commodity Exporters Peg to the Export Price?," Review of Development Economics, Wiley Blackwell, vol. 19(3), pages 486-501, August.
    11. Daniele Girardi & Antonio Mura, 2014. "The Construction-Development Curve: Evidence from a New International Dataset," The IUP Journal of Applied Economics, IUP Publications, vol. 0(3), pages 7-26, July.
    12. Xiaohan Li & Yang Lv & Md Nazirul Islam Sarker & Xun Zeng, 2022. "Assessment of Critical Diffusion Factors of Public–Private Partnership and Social Policy: Evidence from Mainland Prefecture-Level Cities in China," Land, MDPI, vol. 11(3), pages 1-15, February.
    13. Blaise Gnimassoun & Marc Joëts & Tovonony Razafindrabe, 2016. "On the link between current account and oil price fluctuations in diversified economies: The case of Canada," Working Papers hal-04141574, HAL.
    14. Sayed O. M. Timuno & Joel Hinaunye Eita & Lanouar Charfeddine, 2020. "Towards an effective fiscal stimulus: Evidence from Botswana," Cogent Economics & Finance, Taylor & Francis Journals, vol. 8(1), pages 1790948-179, January.
    15. Sebastian Zwalf, 2022. "Managing goal conflict. The case of agency theory in the policy settings for public–private partnerships; A perspective on citizen and government interests," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 93(4), pages 913-930, December.
    16. Nicole B. Baker & Christian Haddad, 2024. "Private ownership and management control decisions in infrastructure from the perspective of Transaction Cost Theory: Evidence from emerging economies," Economics and Politics, Wiley Blackwell, vol. 36(2), pages 764-791, July.
    17. Mr. Andrew M. Warner, 2015. "Natural Resource Booms in the Modern Era: Is the curse still alive?," IMF Working Papers 2015/237, International Monetary Fund.
    18. Joseph E. Gagnon & C. Fred Bergsten, 2012. "Currency Manipulation, the US Economy, and the Global Economic Order," Policy Briefs PB12-25, Peterson Institute for International Economics.
    19. Andreas P. Kyriacou & Leonel Muinelo-Gallo & Oriol Roca-Sagalés, 2018. "The efficiency of transport infrastructure investment and the role of institutions: an empirical analysis," Working Papers. Collection B: Regional and sectoral economics 1802, Universidade de Vigo, GEN - Governance and Economics research Network.
    20. Shigeto Kitano & Kenya Takaku, 2023. "Effect of sovereign wealth funds in commodity‐exporting economies when commodity prices affect interest spreads," Asian Economic Journal, East Asian Economic Association, vol. 37(3), pages 267-292, September.

    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:kap:porgrv:v:23:y:2023:i:4:d:10.1007_s11115-022-00689-8. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.