Introduction: the paradox of PPP advocacy

Beginning in the 1990s, public-private partnerships (PPPs) were strongly promoted by prominent development institutions as revolutionary tools for mobilizing infrastructure investment in developing countries. However, after three decades of experimentation it has become clear that no revolution has taken place-PPPs have been largely unsuccessful in developing countries, especially the poorest countries most in need of investment. Despite these failures, policymakers at the highest levels of the international development community have mostly ignored the implications of evidence-based evaluations and continue to unreservedly promote PPPs. The persistence of this faith in the private sector to solve infrastructure investment problems seems paradoxical. It flourishes in the face of compelling critical studies of PPPs done by well-regarded researchers. This unshakable faith has fueled the growth of a global PPP constituency involving hundreds of programs, facilities, funds, and other entities which employ billions of dollars in development aid to focus on ways of making PPPs successful. At a time when practical infrastructure solutions are desperately needed to address climate change problems and achieve Sustainable Development Goals, PPP advocacy continues to thrive. This book offers a political economy explanation of this paradox, by tracing the 30-year evolution of PPP advocacy.