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Public-Private Partnerships: Promise and Hype

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dc.contributor.authorKlein, Michael
dc.date.accessioned2015-07-17T19:57:35Z
dc.date.available2015-07-17T19:57:35Z
dc.date.issued2015-06
dc.description.abstractThis paper provides perspectives on patterns of public-private partnerships in infrastructure across time and space. Public-private partnerships are a new term for old concepts. Much infrastructure started under private auspices. Then many governments nationalized the ventures. Governments often push infrastructure providers to keep prices low. In emerging markets, the price of water covers maybe 30 percent of costs on average, that of electricity some 80 percent of costs. This renders public infrastructure ventures dependent on subsidies. When governments run into fiscal troubles, they often look again for public-private partnerships, and price increases. As a result, public-private partnerships keep making a comeback in most countries, but are not always loved. Waves of interest in public-private partnerships sweep different countries at different times. Overall, in emerging markets today, public-private partnerships account for some 20 percent of infrastructure investments, with wide variations across countries and from year to year. There is no “killer” rationale for public-private partnerships. They can help raise financing when governments face borrowing constraints. They can be more efficient when sound incentives are applied. Existing evaluations suggest public-private partnerships tend to perform often a bit better than public provision. Yet, well-run governments can do as well. Public-private partnerships provide mechanisms to improve the governance of infrastructure ventures where governments are flawed. Once the fiscal troubles are over, the politics of pricing assert themselves again. Tight pricing erodes the profitability of public-private partnerships and the wheel of privatization and nationalization keeps turning, as it has since modern infrastructure services were invented.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/06/24711409/public-private-partnerships-promise-hype
dc.identifier.doi10.1596/1813-9450-7340
dc.identifier.urihttps://hdl.handle.net/10986/22223
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 7340
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectSANITATION
dc.subjectFOR‐PROFIT ORGANIZATIONS
dc.subjectROAD DEVELOPMENT
dc.subjectCAPITAL MARKETS
dc.subjectEVASION
dc.subjectTRANSPORT SECTOR
dc.subjectACCOUNTING
dc.subjectPRIVATE SECTOR PARTICIPATION
dc.subjectCORPORATION
dc.subjectPRICE OF WATER
dc.subjectPRIVATE PARTNERSHIP
dc.subjectPUBLIC PROCUREMENT
dc.subjectWASTE MANAGEMENT
dc.subjectPUBLIC-PRIVATE PARTNERSHIPS
dc.subjectFISCAL DEFICITS
dc.subjectTRANSPORT INFRASTRUCTURE
dc.subjectPUBLIC ROAD
dc.subjectPUBLIC SECTOR
dc.subjectPUBLIC SECTOR INFRASTRUCTURE
dc.subjectWATER SECTOR
dc.subjectMEDIUM ENTERPRISES
dc.subjectWATER SYSTEMS
dc.subjectPROPERTY RIGHTS
dc.subjectWATER SUPPLY
dc.subjectSERVICES
dc.subjectPUBLIC SERVICES
dc.subjectBUILD‐OPERATE‐ TRANSFER
dc.subjectREVENUES
dc.subjectURBAN WATER
dc.subjectRAIL SERVICE
dc.subjectCOMPANIES
dc.subjectPUBLIC INFRASTRUCTURE
dc.subjectINDEPENDENT” REGULATORY BODIES
dc.subjectTOLL
dc.subjectPRICING
dc.subjectINVESTMENT IN INFRASTRUCTURE
dc.subjectSUBSIDY
dc.subjectTAX
dc.subjectAIRPORTS
dc.subjectINFLATION
dc.subjectTOLL REVENUES
dc.subjectPRIVATE FINANCIERS
dc.subjectELECTRIC UTILITIES
dc.subjectVEHICLE
dc.subjectEQUITY CAPITAL
dc.subjectROAD
dc.subjectTOLLS
dc.subjectPRIVATE FIRM
dc.subjectCOSTS
dc.subjectPRIVATE PROPERTY RIGHTS
dc.subjectTELECOMMUNICATIONS
dc.subjectTRANSPORT
dc.subjectWATER TREATMENT
dc.subjectINFRASTRUCTURE PROJECT
dc.subjectWATER COMPANIES
dc.subjectTOLL‐ROADS
dc.subjectGOING PRIVATE
dc.subjectMARKETS
dc.subjectDEBT
dc.subjectSEWERAGE SYSTEMS
dc.subjectDEFICITS
dc.subjectSERVICE PROVISION
dc.subjectLENDERS
dc.subjectNATIONAL INFRASTRUCTURE
dc.subjectPRIVATE SECTOR DEVELOPMENT
dc.subjectPUBLIC SECTOR PROJECTS
dc.subjectLABOR
dc.subjectENTERPRISES
dc.subjectPORTS
dc.subjectPRIVATE FINANCE
dc.subjectSERVICE DELIVERY
dc.subjectPRIVATE CAPITAL
dc.subjectGOVERNMENT FINANCING
dc.subjectROUTE
dc.subjectCONCESSION PERIOD
dc.subjectPUBLIC CONTRACTS
dc.subjectSUBSIDIES
dc.subjectFINANCE
dc.subjectPUBLIC‐PRIVATE PARTNERSHIPS
dc.subjectPUBLIC
dc.subjectINFRASTRUCTURE
dc.subjectMUNICIPAL SERVICE
dc.subjectPRIVATIZATION” OF INFRASTRUCTURE
dc.subjectPUBLIC INVESTMENT
dc.subjectINFRASTRUCTURE INVESTMENT
dc.subjectEQUITY
dc.subjectINVESTORS
dc.subjectDRIVING
dc.subjectFIRMS
dc.subjectPOLICIES
dc.subjectTRANSPARENCY
dc.subjectWATER PRICES
dc.subjectINDEPENDENT REGULATION
dc.subjectPARTIES
dc.subjectUTILITIES
dc.subjectELECTRICITY
dc.subjectSTATE ENTERPRISES
dc.subjectPUBLIC ENTERPRISES
dc.subjectPRICE REGULATION
dc.subjectPRIVATE FIRMS
dc.subjectTOLL ROADS
dc.subjectPRIVATE‐PARTNERSHIPS
dc.subjectPRIVATE SECTOR
dc.subjectROAD PROJECTS
dc.subjectINFRASTRUCTURE PROJECTS
dc.subjectPUBLIC WORKS
dc.subjectWATER TREATMENT PLANTS
dc.subjectPRIVATE PARTNER
dc.subjectCOMPANY
dc.subjectREGULATION
dc.subjectMANAGEMENT
dc.subjectROADS
dc.subjectSHAREHOLDERS
dc.subjectINSURANCE
dc.subjectTOLL ROAD
dc.subjectHIGHWAY
dc.subjectRAILWAYS
dc.subjectACCOUNTING STANDARDS
dc.subjectURBAN WATER SUPPLY
dc.subjectHIGHWAY ACT
dc.subjectPARTNERS
dc.subjectRAILROADS
dc.subjectRAIL
dc.subjectINFRASTRUCTURE FINANCE
dc.subjectCOMPETITIVE MARKETS
dc.subjectPUBLIC OWNERSHIP
dc.subjectSTATE‐OWNED COMPANIES
dc.subjectINVESTMENTS
dc.subjectPRIVATE VEHICLE
dc.subjectPRIVATE PARTNERSHIPS
dc.subjectFEES
dc.subjectPUBLIC‐PRIVATE‐PARTNERSHIPS
dc.subjectSUPPLIERS
dc.subjectPUBLIC SECTOR MANAGEMENT
dc.subjectGOVERNMENTS
dc.subjectAFFORDABILITY CONCERNS
dc.subjectWATER PRIVATIZATION
dc.subjectCOST OF CAPITAL
dc.subjectQUALITY OF SERVICE
dc.titlePublic-Private Partnershipsen
dc.title.subtitlePromise and Hypeen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crosscuttingsolutionareaPublic-Private Partnerships
okr.crossref.titlePublic-Private Partnerships: Promise and Hype
okr.date.disclosure2015-06-26
okr.date.doiregistration2025-04-10T09:50:14.659543Z
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/2015/06/24711409/public-private-partnerships-promise-hype
okr.globalpracticeGovernance
okr.guid319751468179082260
okr.identifier.doi10.1596/1813-9450-7340
okr.identifier.externaldocumentum090224b082f92d16_1_0
okr.identifier.internaldocumentum24711409
okr.identifier.reportWPS7340
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/06/26/090224b082f92d16/1_0/Rendered/PDF/Public0private00000promise0and0hype.pdfen
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicInfrastructure Economics and Finance::Private Participation in Infrastructure
okr.topicPrivate Sector Development::Private Sector Economics
okr.topicPrivate Sector Development::Privatization
okr.topicPublic Sector Development
okr.unitPPP Cross-cutting Solutions Area, Global Practices Vice-Presidency
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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