Public-Private Partnerships : Promise and Hype
| Autor: | Klein, Michael |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2015 |
| Předmět: |
WATER PRICES
WATER PRIVATIZATION CORPORATION TAX INFRASTRUCTURE PRIVATIZATION” OF INFRASTRUCTURE INFRASTRUCTURE PROJECT SHAREHOLDERS RAILWAYS ROAD RAIL SERVICE INFLATION PRIVATE SECTOR PARTICIPATION INVESTMENTS PRIVATE VEHICLE VEHICLE PRIVATE PARTNER PRIVATE PARTNERSHIPS PRICE OF WATER INFRASTRUCTURE INVESTMENT EVASION WATER COMPANIES GOVERNMENTS PUBLIC-PRIVATE PARTNERSHIPS PUBLIC PROCUREMENT INVESTORS COMPANY CONCESSION PERIOD TRANSPORT SECTOR WATER TREATMENT ELECTRIC UTILITIES PUBLIC SECTOR MANAGEMENT MEDIUM ENTERPRISES SEWERAGE SYSTEMS TOLL ACCOUNTING STANDARDS TRANSPARENCY PARTNERS SERVICE DELIVERY PRIVATE FIRM COMPANIES FIRMS SUBSIDIES PRIVATE FINANCIERS MARKETS PUBLIC SERVICES FINANCE SANITATION STATE‐OWNED COMPANIES INFRASTRUCTURE FINANCE PROPERTY RIGHTS ROAD PROJECTS PUBLIC INFRASTRUCTURE ENTERPRISES TRANSPORT INFRASTRUCTURE INVESTMENT IN INFRASTRUCTURE PUBLIC ENTERPRISES RAIL GOVERNMENT FINANCING PUBLIC SECTOR INFRASTRUCTURE FISCAL DEFICITS SERVICES PRICING PUBLIC SECTOR PRIVATE CAPITAL FOR‐PROFIT ORGANIZATIONS DEBT PUBLIC‐PRIVATE PARTNERSHIPS WASTE MANAGEMENT AIRPORTS COST OF CAPITAL COMPETITIVE MARKETS WATER SECTOR COSTS WATER TREATMENT PLANTS FEES STATE ENTERPRISES INDEPENDENT REGULATION PRIVATE FIRMS ELECTRICITY PRIVATE‐PARTNERSHIPS DEFICITS ROUTE QUALITY OF SERVICE LENDERS TOLL REVENUES PUBLIC CONTRACTS ROADS ACCOUNTING GOING PRIVATE PARTIES TOLL ROAD CAPITAL MARKETS POLICIES DRIVING HIGHWAY AFFORDABILITY CONCERNS SUPPLIERS EQUITY CAPITAL WATER SYSTEMS TELECOMMUNICATIONS PRICE REGULATION REGULATION INSURANCE BUILD‐OPERATE‐ TRANSFER MUNICIPAL SERVICE PRIVATE SECTOR EQUITY TOLLS HIGHWAY ACT INDEPENDENT” REGULATORY BODIES SERVICE PROVISION URBAN WATER TOLL‐ROADS PUBLIC SECTOR PROJECTS UTILITIES PUBLIC MANAGEMENT PRIVATE SECTOR DEVELOPMENT LABOR PRIVATE FINANCE URBAN WATER SUPPLY PUBLIC OWNERSHIP ROAD DEVELOPMENT NATIONAL INFRASTRUCTURE WATER SUPPLY SUBSIDY TRANSPORT REVENUES PRIVATE PROPERTY RIGHTS PORTS PUBLIC INVESTMENT PUBLIC WORKS RAILROADS PRIVATE PARTNERSHIP PUBLIC ROAD PUBLIC‐PRIVATE‐PARTNERSHIPS TOLL ROADS INFRASTRUCTURE PROJECTS |
| Popis: | This 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. |
| Databáze: | OpenAIRE |
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