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Rationale and Institution for Public–Private Partnerships

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  • Kim, Jungwook

    (Korea Development Institute)

Abstract

Private–public partnership (PPP) methods are considered to be an effective way to narrow the gap between demand and supply of social infrastructure. If successfully pursued, PPP can deliver benefits to users, governments, and the private sector, or the so-called triple wins. Enhancing efficiency by reducing cost and time overruns is beneficial to users and governments, and better quality of service is expected via PPP. It will also examine the factors that have been important for shaping the county’s PPP landscape, including fiscal soundness, unsolicited project proposals, and the refinancing and renegotiation of PPPs. PPPs are not a must-have solution but an option for building and upgrading infrastructure. In conclusion, PPPs are being promoted because it can mobilize needed resources from the private sector, maximize value for money, bring creativity and efficiency to a project, and be a source of fiscal stimulus. That said, countries should be clear on why they are promoting the PPP modality for infrastructure.

Suggested Citation

  • Kim, Jungwook, 2018. "Rationale and Institution for Public–Private Partnerships," ADB Economics Working Paper Series 557, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0557
    as

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    File URL: https://www.adb.org/publications/rationale-institution-ppps
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    References listed on IDEAS

    as
    1. Antonio Estache & Juan Manuel Campos & Nadine Martin & Lourdes Trujillo, 2003. "Macroeconomic Effects of Private Sector Participation in Infrastructure," ULB Institutional Repository 2013/44067, ULB -- Universite Libre de Bruxelles.
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    More about this item

    Keywords

    economic growth; infrastructures; public–private partnership; value for money;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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