Private Finance Initiative and public debt

Private finance initiative (or public private partnership) implementation processes and perception of value for money

The aim of this study is to examine the relationships among perceptions of implementation processes, implementation difficulties and value for money (VFM) in UK school private finance initiative (PFI) or public private partnership (PPP) contracts. The results suggest that implementation factors, such as effective PFI ‘consultation’, ‘contractual’, ‘monitoring and review’ processes have a signif...

Design quality and the private finance initiative

Finance and Public-Private Partnerships

A PPP bundles investment and service provision of infrastructure into a single long-term contract. A group of private investors finances and manages the construction of the project, then maintains and operates the facilities for a long period of usually 20 to 30 years, and at the end of the contract transfers the assets to the government. During the operation of the project, the private partner...

Discussion of Finance and Public-Private Partnerships

Borrowing from existing results, in particular Hart (2003), the authors argue that the benefits of PPPs to society lie only in efficiency gains in production (e.g. bundling and cost-cutting incentives) and allocation (e.g. improvements in the quality and quantity of infrastructure). They conclude that risk transfer to the private sector is most justified when the risk is endogenous (i.e. it is ...

The Malaysian Private Finance Initiative and Value for Money

The concept of value for money (VFM) is the fundamental reason for most PFI projects to be attractive in many developed and developing countries. The concept encourages governments to deliver Mega projects by using PFI procurement method. The aims of this paper are to investigate the notion of VFM for PFI projects by different countries (i.e. UK, Australia and Japan) and to discover the detaile...