[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/bla/ecaffa/v29y2009i1p33-39.html
   My bibliography  Save this article

PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION

Author

Listed:
  • Graeme A. Hodge
  • Carsten Greve
Abstract
This paper argues that evaluations of public–private partnerships thus far point to contradictory results regarding their effectiveness and value‐for‐money. Despite continuing political popularity, greater care is needed to strengthen future evaluations and conduct such assessments away from the policy cheerleaders.

Suggested Citation

  • Graeme A. Hodge & Carsten Greve, 2009. "PPPs: THE PASSAGE OF TIME PERMITS A SOBER REFLECTION," Economic Affairs, Wiley Blackwell, vol. 29(1), pages 33-39, March.
    • Handle: RePEc:bla:ecaffa:v:29:y:2009:i:1:p:33-39
    DOI: 10.1111/j.1468-0270.2009.01864.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1468-0270.2009.01864.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1468-0270.2009.01864.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Public-Private Partnerships In Europe: An Update," Economic and Financial Reports 2007/3, European Investment Bank, Economics Department.
    2. repec:bla:jfinan:v:53:y:1998:i:3:p:1081-1110 is not listed on IDEAS
    3. David Parker, 2004. "The UK's Privatisation Experiment: The Passage of Time Permits a Sober Assessment," CESifo Working Paper Series 1126, CESifo.
    4. Megginson, William L & Nash, Robert C & van Randenborgh, Matthias, 1994. "The Financial and Operating Performance of Newly Privatized Firms: An International Empirical Analysis," Journal of Finance, American Finance Association, vol. 49(2), pages 403-452, June.
    5. M.G. Pollitt, 2000. "The Declining Role of the State in Infrastructure Investments in the UK," Cambridge Working Papers in Economics 0001, Faculty of Economics, University of Cambridge.
    6. Michael Pollitt, 2005. "Learning from UK Private Finance Initiative experience," Chapters, in: Graeme A. Hodge & Carsten Greve (ed.), The Challenge of Public–Private Partnerships, chapter 11, Edward Elgar Publishing.
    7. Jean Shaoul, 2004. "Railpolitik: The Financial Realities of Operating Britain's National Railways," Public Money & Management, Taylor & Francis Journals, vol. 24(1), pages 27-36.
    8. Blanc-Brude, Frederic & Goldsmith, Hugh & Valila, Timo, 2007. "Ex Ante Construction Costs In The European Road Sector: A Comparison Of Public-Private Partnerships And Traditional Public Procurement," Economic and Financial Reports 2006/1, European Investment Bank, Economics Department.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Mark A. Moore & Aidan R. Vining, 2023. "PPP performance evaluation: the social welfare goal, principal–agent theory and political economy," Policy Sciences, Springer;Society of Policy Sciences, vol. 56(2), pages 267-299, June.
    2. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Other publications TiSEM b9218010-a357-4c0a-805a-7, Tilburg University, School of Economics and Management.
    3. Gordon, Cameron & Mulley, Corinne & Stevens, Nick & Daniels, Rhonda, 2013. "How optimal was the Sydney Metro contract?: Comparison with international best practice," Research in Transportation Economics, Elsevier, vol. 39(1), pages 239-246.
    4. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Anatomy of Public-Private Partnerships : Their Creation, Financing, and Renegotiations," Discussion Paper 2014-017, Tilburg University, Center for Economic Research.
    5. Cepparulo, Alessandra & Eusepi, Giuseppe & Giuriato, Luisa, 2020. "Public finances and Public Private Partnerships in the European Union," MPRA Paper 103918, University Library of Munich, Germany.
    6. Miranda Sarmento, J.J. & Renneboog, Luc, 2016. "Anatomy of public-private partnerships : Creation, financing, and renegotiations," Other publications TiSEM dc944be7-8594-4439-90da-6, Tilburg University, School of Economics and Management.
    7. Liam Clegg, 2019. "Economic geography and the regulatory state: Asymmetric marketization of social housing in England," Environment and Planning A, , vol. 51(7), pages 1479-1498, October.
    8. Peter Birch Sørensen, 2015. "Reforming Public Service Provision: What have we learned?," EPRU Working Paper Series 2015-01, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
    9. Hilmar Tór HILMARSSON, 2012. "Managing Risks in Cross Border Energy Projects in Emerging Markets," REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(5), pages 717-732, December.
    10. Penyalver, Domingo & Turró, Mateu & Williamson, John B., 2019. "Measuring the value for money of transport infrastructure procurement; an intergenerational approach," Transportation Research Part A: Policy and Practice, Elsevier, vol. 119(C), pages 238-254.
    11. Argentino Pessoa, 2010. "Reviewing Public–Private Partnership Performance in Developing Economies," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 25, Edward Elgar Publishing.
    12. Cheng Chen & Dan Li & Caixia Man, 2018. "Toward Sustainable Development? A Bibliometric Analysis of PPP-Related Policies in China between 1980 and 2017," Sustainability, MDPI, vol. 11(1), pages 1-25, December.
    13. Graeme Hodge & Carsten Greve, 2013. "Public–private partnership in developing and governing mega-projects," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 9, pages 182-208, Edward Elgar Publishing.
    14. Graeme A. Hodge, 2010. "Reviewing Public–Private Partnerships: Some Thoughts on Evaluation," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 5, Edward Elgar Publishing.
    15. Janusz Myszczyszyn, 2022. "Public-Private Partnership - Development and Dilemmas for the Future from the Point of View of the Public Partner," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 390-400.
    16. Metaxas, Theodore & Preza, Elisavet, 2012. "Public- Private Partnerships in Southeastern Europe: The case of Croatia," MPRA Paper 43830, University Library of Munich, Germany.
    17. Alessandra Cepparulo & Giuseppe Eusepi & Luisa Giuriato, 2024. "Public Finance, Fiscal Rules and Public–Private Partnerships: Lessons for Post-COVID-19 Investment Plans," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 66(1), pages 191-213, March.
    18. Abdullahi Umar & Noor Amila Zawawi & Mohd Faris Khamidi & Arazi Idrus, 2013. "Stakeholder Perceptions on Achieved Benefits of PFI Procurement Strategy," Modern Applied Science, Canadian Center of Science and Education, vol. 7(4), pages 1-31, April.
    19. Bent Flyvbjerg, 2014. "What You Should Know About Megaprojects, and Why: An Overview," Papers 1409.0003, arXiv.org.
    20. Lawson, Julie & Pawson, Hal & Troy, Laurence & van den Nouwelant, Ryan & Hamilton, Carrie & Hayward, Richard Donald, 2018. "Social housing as infrastructure: an investment pathway," SocArXiv e9hky, Center for Open Science.
    21. Poulton, Colin & Macartney, Jon, 2012. "Can Public–Private Partnerships Leverage Private Investment in Agricultural Value Chains in Africa? A Preliminary Review," World Development, Elsevier, vol. 40(1), pages 96-109.
    22. Hilmar Þór HILMARSSON, 2017. "Public-Private Partnerships for clean energy investment in developing and emerging economies: Allocating risks and sharing rewards," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(611), S), pages 147-160, Summer.
    23. Abebe, Gumataw K. & Bijman, Jos & Kemp, Ron & Omta, Onno & Tsegaye, Admasu, 2013. "Contract farming configuration: Smallholders’ preferences for contract design attributes," Food Policy, Elsevier, vol. 40(C), pages 14-24.
    24. Iram Khan & Asad Ghalib & Farhad Hossain, 2015. "Stakeholders Involvement or Public Subsidy of Private Interests? Appraising the Case of Public Private Partnerships in Pakistan," Public Organization Review, Springer, vol. 15(2), pages 281-296, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Graeme A. Hodge, 2010. "Reviewing Public–Private Partnerships: Some Thoughts on Evaluation," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 5, Edward Elgar Publishing.
    2. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Public-Private Partnerships : Risk Allocation and Value for Money," Other publications TiSEM b9218010-a357-4c0a-805a-7, Tilburg University, School of Economics and Management.
    3. Miranda Sarmento, J. & Renneboog, L.D.R., 2014. "Anatomy of Public-Private Partnerships : Their Creation, Financing, and Renegotiations," Other publications TiSEM d276f5b6-49cb-40c7-b83c-1, Tilburg University, School of Economics and Management.
    4. Inácia Pimentel & Miguel St.Aubyn & Nuno Ribeiro, 2017. "The impact of investment in Public Private Partnerships on Public, Private investment and GDP in Portugal," Working Papers Department of Economics 2017/13, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    5. Graeme Hodge & Carsten Greve, 2013. "Public–private partnership in developing and governing mega-projects," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 9, pages 182-208, Edward Elgar Publishing.
    6. Tyrone M. Carlin & Cuong Duc Pham, 2009. "From Public To Private: Evidence From a Transitional Economy Setting," Australian Accounting Review, CPA Australia, vol. 19(3), pages 207-216, September.
    7. Graeme A. Hodge & Carsten Greve & Anthony E. Boardman, 2010. "Introduction: The PPP Phenomenon and its Evaluation," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 1, Edward Elgar Publishing.
    8. Haikun Zhu, 2018. "Social Stability and Resource Allocation within Business Groups," Working Papers Series 79, Institute for New Economic Thinking.
    9. Bozec, Richard, 2004. "L’analyse comparative de la performance entre les entreprises publiques et les entreprises privées : le problème de mesure et son impact sur les résultats," L'Actualité Economique, Société Canadienne de Science Economique, vol. 80(4), pages 619-654, Décembre.
    10. Carlo Cambini & Yossi Spiegel, 2016. "Investment and Capital Structure of Partially Private Regulated Firms," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 25(2), pages 487-515, April.
    11. David Martimort & Flavio Menezes & Myrna Wooders & ELISABETTA IOSSA & DAVID MARTIMORT, 2015. "The Simple Microeconomics of Public-Private Partnerships," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 17(1), pages 4-48, February.
    12. Andres, Luis & Foster, Vivien & Guasch, Jose Luis, 2006. "The impact of privatization on the performance of the infrastructure sector : the case of electricity distribution in Latin American countries," Policy Research Working Paper Series 3936, The World Bank.
    13. Lu, Susan Feng & Dranove, David, 2013. "Profiting from gaizhi: Management buyouts during China’s privatization," Journal of Comparative Economics, Elsevier, vol. 41(2), pages 634-650.
    14. Anastassios Gentzoglanis, 2002. "Privatization, Investment and Efficiency in the Telecommunications Industry: Theory and Empirical Evidence from MENA Countries," Working Papers 0230, Economic Research Forum, revised 10 Oct 2002.
    15. Ming Lu & Zhao Chen & Shuang Zhang, 2008. "Paying for the Dream of Public Ownership: Case Studies on Corruption and Privatization in China," Transition Studies Review, Springer;Central Eastern European University Network (CEEUN), vol. 15(2), pages 355-373, September.
    16. Barberis, Nicholas & Maxim Boycko & Andrei Shleifer & Natalia Tsukanova, 1996. "How Does Privatization Work? Evidence from the Russian Shops," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 764-790, August.
    17. Yaseen Ghulam, 2018. "Is the Improved Financial Performance after Broader Reforms and Privatisation Long-Lasting and Uniform Across Industries?," Review of Economics & Finance, Better Advances Press, Canada, vol. 13, pages 77-92, August.
    18. Pradeep Kautish, 2010. "Study On Impact Of Environmental Change On Selected Public Sector Enterprises In India," Romanian Economic Business Review, Romanian-American University, vol. 5(2), pages 68-88, June.
    19. Otchere, Isaac & Chan, Janus, 2003. "Intra-industry effects of bank privatization: A clinical analysis of the privatization of the Commonwealth Bank of Australia," Journal of Banking & Finance, Elsevier, vol. 27(5), pages 949-975, May.
    20. Ang, James & Knill, April & Mauck, Nathan, 2017. "Cross-border opportunity sets: An international empirical study based on ownership types," Global Finance Journal, Elsevier, vol. 33(C), pages 1-26.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecaffa:v:29:y:2009:i:1:p:33-39. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0265-0665 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.