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Public-Private Partnerships

Author

Listed:
  • Yescombe, E. R.

    (YCL Consulting, London UK. Edward Yescombe is an expert in project finance, leasing, export credits, real estate finance, and asset finance.)

  • Yescombe, E. R.

    (YCL Consulting, London UK. Edward Yescombe is an expert in project finance, leasing, export credits, real estate finance, and asset finance.)

Abstract

Over the last decade or so, private-sector financing through public-private partnerships (PPPs) has become increasingly popular around the world as a way of procuring and maintaining public-sector infrastructure, in sectors such as transportation (roads, bridges, tunnels, railways, ports, airports), social infrastructure (hospitals, schools, prisons, social housing) public utilities (water supply, waste water treatment, waste disposal), government offices and other accommodation, and other specialised services (communications networks or defence equipment). This book, based on the author's practical experience on the public- and private-sector sides of the table, reviews the key policy issues which arise for the public sector in considering whether to adopt the PPP procurement route, and the specific application of this policy approach in PPP contracts, comparing international practices in this respect. It offers a systematic and integrated approach to financing PPPs within this public-policy framework, and explains the project-finance techniques used for this purpose. The book deals with both the Concession and PFI models of PPP, and provides a structured introduction for those who are new to the subject, whether in the academic, public-sector, investment, finance or contracting fields, as well as an aide memoire for those developing PPP policies or negotiating PPPs. The author focuses on practical concepts, issues and techniques, and does not assume any prior knowledge of PPP policy issues or financing techniques. The book describes and explains: * The different types of PPPs and how these have developed * Why PPPs are attractive to governments * General policy issues for the public sector in developing a PPP programme * PPP procurement procedures and bid evaluation * The use of project-finance techniques for PPPs * Sources of funding * Typical PPP contracts and sub-contracts, and their relationship with the project’s financial structure * Risk assessment from the points of view of the public sector, investors, lenders and other project parties * Structuring the investment and debt financing * The key issues in negotiating a project-finance debt facility. In addition the book includes an extensive glossary, as well as cross-referencing. *Reviews the PPP policy framework and development from an international perspective *Covers public- and private-sector financial analysis, structuring and investment in PPPs *No prior knowledge of project financing required

Suggested Citation

  • Yescombe, E. R. & Yescombe, E. R., 2007. "Public-Private Partnerships," Elsevier Monographs, Elsevier, edition 1, number 9780750680547.
    • Handle: RePEc:eee:monogr:9780750680547
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    Citations

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    Cited by:

    1. Alexander Moore & Stéphane Straub & Jean-Jacques Dethier, 2014. "Regulation, renegotiation and capital structure: theory and evidence from Latin American transport concessions," Journal of Regulatory Economics, Springer, vol. 45(2), pages 209-232, April.
    2. Nor Suzila Binti Lop & Kharizam Ismail & Haryati Mohd Isa & Natasha Khalil, 2017. "Factors Affecting the Operational Performance of Public Private Partnership (PPP) Projects: Cases in Malaysia," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(11), pages 1394-1409, November.
    3. Daniel Albalate & Jordi Rosell, 2016. "Persistent and transient efficiency on the stochastic production and cost frontiers – an application to the motorway sector," Working Papers XREAP2016-04, Xarxa de Referència en Economia Aplicada (XREAP), revised Oct 2016.
    4. Ginés de Rus, 2015. "La política de infraestructuras en España. Una reforma pendiente," Policy Papers 2015-08, FEDEA.
    5. Emek, Uğur, 2015. "Turkish experience with public private partnerships in infrastructure: Opportunities and challenges," Utilities Policy, Elsevier, vol. 37(C), pages 120-129.
    6. Eva I. Hoppe & Patrick W. Schmitz, 2021. "How (Not) to Foster Innovations in Public Infrastructure Projects," Scandinavian Journal of Economics, Wiley Blackwell, vol. 123(1), pages 238-266, January.
    7. Carvalho, João & Cruz, Nuno & Cunha Marques, Rui, 2010. "Local governments opting for PPPs in the schools sector," MPRA Paper 22558, University Library of Munich, Germany.
    8. Mika Kylänen & Marcello M. Mariani, 2013. "Public and Private Dynamics and Co-opetition: Evidence from the Tourism Sector," Working Paper series 14_13, Rimini Centre for Economic Analysis.
    9. Eva I. Hoppe & Patrick W. Schmitz, 2013. "Public-private partnerships versus traditional procurement: Innovation incentives and information gathering," RAND Journal of Economics, RAND Corporation, vol. 44(1), pages 56-74, March.
    10. Daniel Albalate & Germà Bel & Richard R. Geddes, 2015. "“Strong versus Weak Vertical Integration: Contractual Choice and PPPs in the United States”," IREA Working Papers 201518, University of Barcelona, Research Institute of Applied Economics, revised Sep 2015.
    11. Takeshi Nishimura, 2014. "Sequential procurement auctions with risk-averse suppliers," Journal of Economics, Springer, vol. 113(3), pages 229-252, November.
    12. Andres,Luis Alberto & Biller,S. A. Dan & Herrera Dappe,Matias, 2014. "Infrastructure gap in South Asia : infrastructure needs, prioritization, and financing," Policy Research Working Paper Series 7032, The World Bank.
    13. Athena Roumboutsos & St�phane Saussier, 2014. "Public-private partnerships and investments in innovation: the influence of the contractual arrangement," Construction Management and Economics, Taylor & Francis Journals, vol. 32(4), pages 349-361, April.
    14. Arshad Ali Javed & Patrick T.I. Lam & Albert P.C. Chan, 2014. "Change negotiation in public-private partnership projects through output specifications: an experimental approach based on game theory," Construction Management and Economics, Taylor & Francis Journals, vol. 32(4), pages 323-348, April.
    15. Antonio García-Lorenzo, 2014. "Cooperación público-privada en la prestación de servicios públicos: el conflicto entre la flexibilidad y la incertidumbre," SERMED 2014 Conference Papers p08, Instituto Universitario de Análisis Económico y Social.
    16. Takeshi Nishimura, 2012. "Bundling Decision in Procurement Auctions with Risk-Averse Suppliers," Global COE Hi-Stat Discussion Paper Series gd12-237, Institute of Economic Research, Hitotsubashi University.
    17. Marques, Rui Cunha, 2021. "Public interest and early termination of PPP contracts. Can fair and reasonable compensations be determined?," Utilities Policy, Elsevier, vol. 73(C).
    18. Martijn Hurk, 2016. "Learning to contract in public–private partnerships for road infrastructure: recent experiences in Belgium," Policy Sciences, Springer;Society of Policy Sciences, vol. 49(3), pages 309-333, September.
    19. Hisanobu SHISHIDO & Shintaro SUGIYAMA & Fauziah ZEN, 2013. "Moving MPAC Forward: Strengthening Public-Private Partnership, Improving Project Portfolio and in Search of Practical Financing Schemes," Working Papers DP-2013-21, Economic Research Institute for ASEAN and East Asia (ERIA).

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