Contractual Flexibility or Rigidity for Public Private Partnerships? Theory and Evidence from Infrastructure Concession Contracts
نویسندگان
چکیده
منابع مشابه
Public-Private Partnerships (PPPs) in Urban Housing in Nigeria: Evidence from Ogun State
There is a consensus among housing experts and policy makers that there are not enough resources for government alone to address growing urban housing challenges in many developing countries. Consequently, a paradigm shift from government provision to partnerships between the public and private sectors is advocated. This study examined the prospects and challenges of Public-Private Partnerships...
متن کاملVietnam’s Infrastructure Constraints: Public Investments and Public-Private Partnerships
Successful countries provide economy and society with infrastructure needed to maintain growth. Development experience suggests that investing 7 percent of GDP in infrastructure is the right order of magnitude for high and sustained growth. Over the last twelve years, the government of Vietnam was able to sustain infrastructure investment at 10 percent of GDP. This remarkably high level of inve...
متن کاملBundling Tasks and Contracts The Case of Public-Private Partnerships
Recent contributions to the literature on Public-private Partnerships identify conditions that support task bundling vis-à-vis a conventional model of procurement in which the State delegates investments and operations into di¤erent rms. When asymmetric information between agents is a concern, the literature nds that risk allocation, long term contracting, and commitment matter for sector per...
متن کاملHow to Design Infrastructure Contracts in a Warming World? A Critical Appraisal of Public-Private Partnerships
We analyze how uncertainty regarding future climate conditions affects the design of concession contracts, organizational forms and technological choices in a principal-agent context with dynamic moral hazard, limited liability and irreversibility constraints. The prospect of future, uncertain productivity shocks that affect the returns on the firm’s effort creates an option value of delaying e...
متن کاملFlexible contracts to cope with uncertainty in public–private partnerships
Public private partnerships (PPP) are long lasting contracts, generally involving large sunk investments, and developed in contexts of great uncertainty. If uncertainty is taken as an assumption, rather as a threat, it could be used as an opportunity. This requires managerial flexibility. The paper addresses the concept of contract flexibility as well as the several possibilities for its incorp...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2007
ISSN: 1556-5068
DOI: 10.2139/ssrn.828944