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The Economics of Public-Private Partnerships: A Basic Guide

The Economics of Public-Private Partnerships: A Basic Guide Construction Management and Economics, 2015 Vol. 33, No. 3, 233–238 Book Review The Economics of Public-Private Partnerships: A unduly influenced by political lobbying in planning Basic Guide (e.g. port-barrel projects), as well as susceptible to E. Engel, R.D. Fischer and A. Galetovic, Cambridge corruption/cronyism in contract award and under- University Press, New York, 2014, 176 pp. ISBN maintenance in operation. PPPs have been promoted 978 1 107 63278 3, £23.99 as a promising solution to some of these problems, such as evading fiscal constraints (to expedite public invest- In recent decades, public-private partnerships (PPPs) ment), yielding efficiency savings (through bundling of have gained prominence globally as an alternative deliv- works and/or competition), and improving project ery system in the provision of infrastructure and public selection. To make PPPs work effectively, there are services. The recent nationwide rolling out of PPPs in two preconditions: first, investors are free from expro- the USA (US Department of the Treasury, 2014) and priation hazards over the contract period; and second, China presages the prosperity of PPP markets in the local financial markets are efficient enough so that years to come. Buttressed by the National Audit Office investors can secure finances and financial protection http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Construction Management & Economics Taylor & Francis

The Economics of Public-Private Partnerships: A Basic Guide

Construction Management & Economics , Volume 33 (3): 6 – Mar 4, 2015
6 pages

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References (13)

Publisher
Taylor & Francis
Copyright
© 2015, Chen-Yu Chang
ISSN
1466-433X
eISSN
0144-6193
DOI
10.1080/01446193.2015.1050965
Publisher site
See Article on Publisher Site

Abstract

Construction Management and Economics, 2015 Vol. 33, No. 3, 233–238 Book Review The Economics of Public-Private Partnerships: A unduly influenced by political lobbying in planning Basic Guide (e.g. port-barrel projects), as well as susceptible to E. Engel, R.D. Fischer and A. Galetovic, Cambridge corruption/cronyism in contract award and under- University Press, New York, 2014, 176 pp. ISBN maintenance in operation. PPPs have been promoted 978 1 107 63278 3, £23.99 as a promising solution to some of these problems, such as evading fiscal constraints (to expedite public invest- In recent decades, public-private partnerships (PPPs) ment), yielding efficiency savings (through bundling of have gained prominence globally as an alternative deliv- works and/or competition), and improving project ery system in the provision of infrastructure and public selection. To make PPPs work effectively, there are services. The recent nationwide rolling out of PPPs in two preconditions: first, investors are free from expro- the USA (US Department of the Treasury, 2014) and priation hazards over the contract period; and second, China presages the prosperity of PPP markets in the local financial markets are efficient enough so that years to come. Buttressed by the National Audit Office investors can secure finances and financial protection

Journal

Construction Management & EconomicsTaylor & Francis

Published: Mar 4, 2015

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