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Do Public-Private-Partnership-Enabling Laws Increase Private Investment in Transportation Infrastructure?

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  • Daniel Albalate
  • Germà Bel
  • R. Richard Geddes

Abstract

The use of public-private partnerships (PPPs) is an important development in infrastructure delivery. These contracts between a public-sector owner and a private provider bundle delivery services and provide a middle ground between traditional delivery and privatization. As of 2016, 35 states had enacted PPP-enabling laws that address such questions as the mixing of public- and private-sector funds, the treatment of unsolicited PPP proposals, and the need for prior legislative contract approval. We provide the first comprehensive empirical assessment of the laws’ impact on the utilization of private investment. We analyze the effect of a state having a PPP-enabling law and a law’s average impact. We also assess the impact of PPP-enabling-law provisions. We find that provisions that empower PPPs, such as exemptions from property taxes, exemptions from extant procurement laws, and confidentiality protections, attract private investment.

Suggested Citation

  • Daniel Albalate & Germà Bel & R. Richard Geddes, 2020. "Do Public-Private-Partnership-Enabling Laws Increase Private Investment in Transportation Infrastructure?," Journal of Law and Economics, University of Chicago Press, vol. 63(1), pages 43-70.
    • Handle: RePEc:ucp:jlawec:doi:10.1086/706247
    DOI: 10.1086/706247
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    Cited by:

    1. David Baxter & Carter B. Casady, 2020. "Proactive and Strategic Healthcare Public-Private Partnerships (PPPs) in the Coronavirus (Covid-19) Epoch," Sustainability, MDPI, vol. 12(12), pages 1-8, June.
    2. Yeon-Koo Che & Elisabetta Iossa & Patrick Rey, 2021. "Prizes versus Contracts as Incentives for Innovation [Subgame Perfect Implementation Under Information Perturbations]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(5), pages 2149-2178.
    3. Herrera Dappe,Matias & Melecky,Martin & Turkgulu,Burak, 2022. "Fiscal Risks from Early Termination of Public-Private Partnerships in Infrastructure," Policy Research Working Paper Series 9972, The World Bank.
    4. Lazzarini,Sergio G., 2022. "The Right Privatization," Cambridge Books, Cambridge University Press, number 9781316519714, September.
    5. Huanming Wang & Xiaoyun Sun & Yu Shi, 2024. "Commercial investment in public–private partnerships: the impact of government characteristics," Local Government Studies, Taylor & Francis Journals, vol. 50(1), pages 230-260, January.

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