Public–private partnership

1633: 1281: 2423:(IPPP), whose formation generally involves simultaneously creating a new jointly-owned public–private entity and the award of a public sector contract or concession whereby the new entity supplies goods or services to the public body or the general public. The Commission acknowledged that separating these two procedures, such that the selection of the private partner and the decision on whether to contract with the new entity were distinct processes, would not be practical, and therefore a "transparent and competitive procedure" through which the private partner was identified and the terms of their involvement in the institutionalised entity could be compliant with treaty obligations and public procurement law. The guidance also noted that, following the establishment of the IPPP entity, it would be free to bid for future public contracts in the same way as other businesses, but particular care would be needed to ensure that the award process remained transparent. 733: 819: 1507: 783: 1762: 1217: 1577: 1045: 1383: 582: 31: 922: 558: 1970:. The private construction company is responsible for the design and construction of a piece of infrastructure for the government, which is the true owner. Moreover, the private entity has the responsibility to raise finance during the construction and the exploitation period. Usually, the public sector begins payments to the private sector for use of the asset post-construction. This is the most commonly used model in the 570: 836:" in the early 1800s to obtain public works for minimal cost while the concessionaires' companies made most of the profits from projects such as railroads and dams. Much of the early infrastructure of the United States was built by what can be considered public–private partnerships. This includes the Philadelphia and Lancaster Turnpike road in Pennsylvania, which was initiated in 1792, an early steamboat line between 1367:: the Private partner assumes the risks in case of cost overruns or project failures. Methods for assessing value-for-money rely heavily on risk transfers to show the superiority of P3s. However, P3s do not inherently reduce risk, they simply reassign who is responsible, and the Private sector assumes that risk at a cost for the taxpayer. If the value of the risk transfer is 1250:: P3 contracts are much more complex and extensive than contracts made in traditional publicly financed projects. The negotiation of these contracts require the presence of lawyers on all sides of the table and can take months or even years to finalize. Barrie Mckenna reports that "transaction costs for lawyers and consultants add about 3 percent to the final bill." 1753:

for private and public partners in PPP contract negotiations. Accounting firms sometimes even have an equity stake in projects that they appraise the value for money. Due to these conflict of interests, multiple authors have argues that the "big four"'s public project appraisals are biased towards the PPP funding option against the traditional procurement model.

696:. While PPP financing comes from the private sector, these projects are always paid for either through taxes or by users of the service, or a mix of both. PPPs are structurally more expensive than publicly financed projects because of the private sector's higher cost of borrowing, resulting in users or taxpayers footing the bill for disproportionately high 1143:

what was projected. Another risk within this area is with change of governance from differing political representatives could lead to projects being diminished or reduction of the allocated budget. This is common within PPPs as different political actors are likely to scrutinise their opponents based on their ideological positions.

1648:, they comprise 1/3 of all P3 projects nationwide. Governments have looked to the PPP model in an attempt to solve larger problems in health care delivery. However, some health-care-related PPPs have been shown to cost significantly more money to develop and maintain than those developed through traditional public procurement. 1256:: Private companies that engage in P3s expect a return on investment after the completion of the project. By financing PPPs, they partner engages in low-risk speculation. Over the course of the contract, the private partner can charge the end-users and/or the government for more money than the cost of the initial investment. 1656:

It then contracts a private enterprise to design, build, maintain, and/or manage the delivery of agreed-upon services over the term of the contract. Finally, the private sector receives payment for its services and assumes additional risk while benefitting from returns on its investments during the operational phase.

1671:. The contracts vary greatly in size. Most include the cost of running services such as facilities management, hospital portering and patient food, and these amount to around 40% of the cost. Total repayments will cost around £2.1 billion in 2017 and will reach a peak in 2029. This is around 2% of the NHS budget. 2367:

arrangements. They concerns a city's revenue-generating assets (parking lots, garage and meters, public lights, toll roads, etc.) and transforms them into financial assets that the city can lease to a private corporation in exchange for covering operation and maintenance. These deals are usually done

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A private economic agent, under a government contract, operates a publicly-owned asset for a specific period of time. Formal, ownership of the asset remains with the public entity. In terms of private-sector risk and involvement, this model is on the lower end of the spectrum for both involvement and

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have been involved in the public–private partnership model from its inception. Advisors from these companies have been tapped to develop PPP policies and procedures in multiple countries. These companies then went on to evaluate those procedures, appraise individual projects, and act as a consultants

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are organizations responsible for promoting, facilitating, and assessing P3s in their territory. They can be government agencies, or semi-independent organizations created with full or part government support. Governments tend to create these units as a response to criticisms of the implementation of

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PPP can be described as a long-term contract (typically 15–30 years) between a public-sector authority and one or more private-sector companies operating as a legal entity. In theory, the agreements entails that the government provides purchasing power and outlines goals for an optimal health system.

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revealed that communities often fail to sufficiently monitor PPPs: "For instance, in 2002, only 47.3% of managers involved with private firms as delivery partners reported that they evaluate that service delivery. By 2007, that was down to 45.4%. Performance monitoring is a general concern from these

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Furthermore, assessments ignore the practices of risk transfers to contractors under traditional procurement methods. As for the idea that the private sector is inherently better at managing risk, there has been no comprehensive study comparing risk management by the public sector and by P3s. Auditor

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programs ran dramatically over budget and have not provided value for money for the taxpayer, with some projects costing more to cancel than to complete. An in-depth study conducted by the National Audit Office of the United Kingdom concluded that the private finance initiative model had proved to be

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Not to be confused with lower overall project costs, value for money is a concept used to evaluate P3 private-partner bids against a hypothetical public sector comparator designed to approximate the costs of a fully public option (in terms of design, construction, financing, and operations). P3 value

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share in the SPV. The consortium is usually made up of a building contractor, a maintenance company, and one or more equity investors. The two former are typically equity holders in the project, who make decisions but are only repaid when the debts are paid, while the latter is the project's creditor

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Market-led proposals (MLP) are P3s proposed by the private sector. MLP policies encourage private sector firms to make unsolicited P3 infrastructure project proposals to the government, instead of putting the onus on the state to propose each projects. During the 2010s, MLP policies were implemented

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Design–build–finance–operate is a project delivery method very similar to BOOT except that there is no actual ownership transfer. Moreover, the contractor assumes the risk of financing until the end of the contract period. The owner then assumes the responsibility for maintenance and operation. This

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On PPP projects where the public sector intends to compensate the private sector through availability payments once the facility is established or renewed, the financing is, from the public sector's perspective, "on-balance sheet". According to PPP advocates, the public sector will regularly benefit

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by foreign companies. They claim forestry PPPs are an agent of nature conservation and the sustainable harvesting of commercialized forest products, notwithstanding the fact that it was competition from foreign companies that forced local producers to engage in unsustainable harvesting practices in

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A criticism of P3s for Hospitals in Canada is that they result in an "internal bifurcation of authority". This occurs when the facility is operated and maintained by the private sector while the care services are delivered by the public sector. In those cases, the nursing staff cannot request their

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counterparts beginning in the late 1990s and early 2000s. A 2012 study showed that value-for-money frameworks were still inadequate as an effective method of evaluating PPP proposals. The problem is that it is unclear what the catchy term "value-for-money" means in the technical details relating to

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Within public-private partnerships (PPPs), there are various risks associated. One risk common within PPPs is the lack of proper or accurate cost evaluation. Oftentimes the estimated costs of a project will not properly account for delays or unexpected events, leading to the costs to be larger than

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The SPV links the firms responsible of the building phase and the operating phase together. Hence there is a strong incentives in the building stage to make investments with regard to the operating stage. These investments can be desirable but may also be undesirable (e.g., when the investments not

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It is the SPV that signs the contract with the government and with subcontractors to build the facility and then maintain it. A typical PPP example would be a hospital building financed and constructed by a private developer and then leased to the hospital authority. The private developer then acts

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A BOOT structure differs from BOT in that the private entity owns the works. During the concession period, the private company owns and operates the facility with the prime goal to recover the costs of investment and maintenance while trying to achieve a higher margin on the project. BOOT has been

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provisions, and unavailable to researchers and the public. Around the world, opponents of P3s have launched judicial procedures to access greater P3 project documentation than the limited "bottom line" sheets available on the project's websites. When they are successful, the documents they receive

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PPPs are often structured so that borrowing for the project does not appear on the balance sheet of the public-sector body seeking to make a capital investment. Rather, the borrowing is incurred by the private-sector vehicle implementing the project, with or without an explicit backup guarantee of

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It's a costly and inefficient way of delivering services. It's meant to mean a transfer of risk, but when things go wrong the risk stays with the public sector and, at the end of the day, the public because the companies expect to get paid. The health board should now be seeking an exit from this

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to conduct the value for money assessments. Because these firms also offer PPP consultancy services, they have a vested interest in recommending the PPP option over the traditional public procurement method. The lack of transparency surrounding individual PPP projects makes it difficult to draft

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Sometimes, private partners manage to overcome these costs and provide a project cheaper for taxpayers. This can be done by cutting corners, designing the project so as to be more profitable in the operational phase, charging user fees, and/or monetizing aspects of the projects not covered by the

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Some public–private partnerships, when the development of new technologies is involved, include profit-sharing agreements. This generally involves splitting revenues between the inventor and the public once a technology is commercialized. Profit-sharing agreements may stand over a fixed period of

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government, released a report on PPP schemes that concluded that "there is little reliable empirical evidence about the costs and benefits of PPPs" and that there "are other ways of obtaining private sector finance", as well as that "the advantages of PPPs must be weighed against the contractual

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Using PPPs have been justified in various ways over time. Advocates generally argue that PPPs enable the public sector to harness the expertise and efficiencies that the private sector can bring to the delivery of certain facilities and services traditionally procured and delivered by the public

964:(PUK), a new semi-independent organization to replace the previous pro-PPP government institutions. Its mandate was to promote and implement PFI. PUK was central in making PPPs the "new normal" for public infrastructure procurements in the country. Multiple countries subsequently created similar 798:

or not. Some argue that it isn't "privatization" because the government retains ownership of the facility and/or remains responsible for public service delivery. Others argue that they exist on a continuum of privatization, P3s being a more limited form of privatization than the outright sale of

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According to David L. Weimer and Aidan R. Vining, "A P3 typically involves a private entity financing, constructing, or managing a project in return for a promised stream of payments directly from government or indirectly from users over the projected life of the project or some other specified

1953:"The private sector designs, builds and finances an asset and provides hard facility management or maintenance services under a long-term agreement." The owner (usually the public sector) operates the facility. This model is in the middle of the spectrum for private sector risk and involvement. 773:

found that definitions of public-private partnerships vary widely between municipalities: "Many public and private officials tout public–private partnerships for any number of activities, when in truth the relationship is contractual, a franchise, or the load shedding of some previously public

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In the European Union, the fact that PPP debt is not recorded as debt and remains largely "off-balance-sheet" has become a major concern. Indeed, keeping the PPP project and its contingent liabilities "off balance sheet" means that the true cost of the project is hidden. According to the

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have publicly questioned P3 rationales based on a transfer of risk, the latter stating he was "unable to develop any substantive evidence supporting risk transfer decisions". Furthermore, many PPP concessions proved to be unstable and required to be renegotiated to favor the contractor.

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the loan by the public body. On PPP projects where the cost of using the service is intended to be borne exclusively by the end-user, or through a lease billed to the government every year during the operation phase of the project, the PPP is, from the public sector's perspective, an "

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There is no consensus about how to define a PPP. The term can cover hundreds of different types of long-term contracts with a wide range of risk allocations, funding arrangements, and transparency requirements. The advancement of PPPs, as a concept and a practice, is a product of the

1244:, which guarantees that they will be able to repay their debts. Since lending to governments almost always come at a lower risk than lending to private entities, governments get better credit and cheaper financing costs for building large infrastructure projects than private finance. 1298:

for money calculations consider a range of costs, the exact nature of which has changed over time and varies by jurisdiction. One thing that does remain consistent, however, is the favoring of "risk transfer" to the private partner, to the detriment of the public sector comparator.

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target 17.17 is formulated as: "Encourage effective partnerships: Encourage and promote effective public, public–private and civil society partnerships, building on the experience and resourcing strategies of partnerships." The success of this target is measured by the amount in

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The effectiveness of PPPs as cost-saving venture has been refuted by numerous studies. Research has showed that on average, governments pay more for PPPs projects than for traditional publicly financed projects. The higher cost of P3s is attributed to these systemic factors:

1016:. In Canada, P3 projects usually use loans that must be repaid within five years, and the projects are refinanced at a later date. In some types of public–private partnership, the cost of using the service is borne exclusively by the users of the service, for example, by 1991:

A private entity is entrusted to design, construct, manage, and finance a facility, based on the specifications of the government. Project cash flows result from the government's payment for the rent of the facility. Some examples of the DCMF model are prisons or public

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The private actor builds the asset and finances the cost during the construction period, afterwards the responsibility is handed over to the public entity. In terms of private-sector risk and involvement, this model is again on the lower end of the spectrum for both

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House of Representatives Standing Committee on Communications Transport and Microeconomic Reform (1997), 'Planning not Patching: An Inquiry Into Federal Road Funding', The Parliament of the Commonwealth of Australia, Australian Government Publishing Service,

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projects risks are not in fact transferred to the private sector and, based on the research findings of Pollock and others, George Monbiot argues that the calculation of risk in PFI projects is highly subjective, and is skewed to favor the private sector:

1052:

PPP, dozens of bolts holding its steel girders together had already failed. A whistleblower claims that the SPV responsible for its construction had knowingly delivered many defective high-strength bolts, and taken measures to hide evidence of the

1036:. In other types (notably the PFI), capital investment is made by the private sector on the basis of a contract with the government to provide agreed-on services, and the cost of providing the services is borne wholly or in part by the government. 1592:

Another major sector for P3s is transportation. The P3 Transportation sector can be broadly split into five sectors: airports, ports, roads, railways and urban passenger transport (which includes bus, light rail and heavy rail systems).

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report underlines that some private investors have made large returns from PPP deals, suggesting that departments are overpaying for transferring the risks of projects to the private sector, one of the Treasury's stated benefits of PPP.

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formally defines public–private partnerships as "long term contractual arrangements between the government and a private partner whereby the latter delivers and funds public services using a capital asset, sharing the associated risks".

715:

and the contracting out of government services. The secrecy surrounding their financial details complexifies the process of evaluating whether PPPs have been successful. PPP advocates highlight the sharing of risk and the development of

4982:

Harris, A. C. (1996), 'Financing infrastructure: private profits from public losses', Audit Office of NSW, Public Accounts Committee, Parliament of NSW, Conference, Public/Private infrastructure financing: Still feasible?, Sydney,

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service to a private or nonprofit entity." A more general term for such agreements is "shared service delivery", in which public-sector entities join with private firms or non-profit organizations to provide services to citizens.

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When private companies take on a PFI project, they are deemed to acquire risks the state would otherwise have carried. These risks carry a price, which proves to be remarkably responsive to the outcome you want. A paper in the

1982:

This funding option is common when the client has no knowledge of what the project entails. Hence they contracts the project to a company to design, build, operate, and then transfer it. Examples of such projects are refinery

1228:(pictured) through a PPP would lead to cost savings of 1% at best. This option was selected, and then the projected construction costs increased by 68% over the course of PPP contract negotiations that lasted two years. 2697:

Wettenhall, R. (2019), The Public/Private Interface: Surveying the History, in G. Hodge and C. Greve (eds.), The Challenge of Public–Private Partnerships: Learning from International Experience, Cheltenham UK: Edward

2479:'s definition. They operate over a fixed period of time, but they do not offer a fixed rate of return. Generally, repayment to investors is contingent upon a specified social outcome being achieved. A similar system, 1284:

The Deputy Chairman, Planning Commission, Shri Montek Singh Ahluwalia delivering the Keynote Address at the inauguration of the conference on Public Private Partnership in transmission of electricity, in New Delhi.

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shows that before risk was costed, the hospital schemes it studied would have been built much more cheaply with public funds. After the risk was costed, they all tipped the other way; in several cases by less than

902:, although, as already noted, the effect on public accounts was largely illusory. Initially, the private sector was unenthusiastic about PFI, and the public sector was opposed to its implementation. In 1993, the 3886: 1307: 1660:

colleagues from the maintenance staff to clean something (urine, blood, etc.) or to hang workplace safety signs, even if they are standing next to each other, without the approval of the private managers.

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Economic Planning Advisory Commission (EPAC) 1995a,b; House of Representatives Standing Committee on Communications Transport and Microeconomic Reform 1997; Harris 1996; Industry Commission 1996; Quiggin

1007:

A defining aspect of many infrastructure P3s is that most of the up-front financing is made through the private sector. The way this financing is done differs significantly by country. For P3s in the UK,

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Germà Bel and Xavier Fageda, "What have we learned from the last three decades of empirical studies on factors driving local privatization? ", Local Government Studies, vol. 43, No. 4 (2017), pp. 503–511

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may be operated as a concession. In the case of a public service concession, a private company enters into an agreement with the government to have the exclusive right to operate, maintain and carry out

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where surgeons were forced to continue a heart operation in the dark following a power cut caused by PFI operating company Consort, Dave Watson from Unison criticized the way the PFI contract operates:

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from significantly deferred cash flows. This viewpoint has been contested through research that shows that a majority of PPP projects ultimately cost significantly more than traditional public ones.

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Because "privatization" has a negative connotation in some circles, supporters of P3s generally take the position that P3s do not constitute privatization, while P3 opponents argue that they do. The

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Talibdjanov, N. and Koshnazarov, S. UNDP & Chamber of Commerce and Industry of Uzbekistan, Public-Private Partnership in Uzbekistan: Problems, Opportunities and Ways of Introduction (2008–2009)

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Public–private partnerships with non-profits and private partners, sometimes called Public–private–community partnerships (PPCPs), are a modified version of the PPP model designed for the needs of

1090:. The equity investors in SPVs are usually institutional investors such as pension funds, life insurance companies, sovereign wealth and superannuation funds, and banks. Major P3 investors include 1330:

A number of Australian studies of early initiatives to promote private investment in infrastructure concluded that in most cases, the schemes being proposed were inferior to the standard model of

1265:, this latter aspect has included restricting the use of schools' fields and interior walls, and charging after-hours facility access to community groups at 10 times the rate of non-P3 schools. 1208:, economic ownership of the asset should determine whether to record PPP-related assets and liabilities in the government's or the private corporation's balance sheet is not straightforward. 661:

projects. Although they are not compulsory, PPPs have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.

4468: 1061:(SPV) to develop, build, maintain, and operate the asset for the contracted period. In cases where the government has invested in the project, it is typically (but not always) allotted an 1537:

The privatization of the water services of the city of Paris proved to be unwanted, and at the end of 2009 the city did not renew its contract with two of the French water corporations,

941:: they were thus politically and fiscally inclined to try out alternative forms of public procurement. These early PPP projects were usually pitched by wealthy and politically connected 1460: 3708:

Mols, F. (2010). Harnessing market competition in PPP procurement: The importance of periodically taking a strategic view. Australian Journal of Public Administration, 69(2), 229-244

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Mols, F. (2010) Harnessing Market Competition in PPP Procurement: The Importance of Periodically Taking a Strategic View. Australian Journal of Public Administration, 69(2), 229-244.

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The late 20th and early 21st century saw a clear trend toward governments across the globe making greater use of various PPP arrangements. Pressure to change the model of public

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represents a complete integration of the project delivery: the same contract governs the design, construction, operations, maintenance, and financing of the project. After some

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came of age and needed to be replaced, multiple cities decided to fund the renewal of their water infrastructure through a public–private partnership. Among those cities were

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In response to these negative findings about the costs and quality of P3 projects, proponents developed formal procedures for the assessment of PPPs which focused heavily on

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Colman, J. (2002), 'Mumbo jumbo...and other pitfalls:Evaluating PFI/PPP projects', National Audit Office PFI / PPP Conference "Bringing about beneficial change, London, May.

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of the project. This framework is used when the physical life of the project coincides with the concession period. A BOO scheme involves large amounts of finance and long

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Linotte, Didier (10 January 2005). "Un cadre juridique désormais sécurisé pour les contrats de partenariat" [A secure legal framework for partnership contracts].

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and human rights*, Report of the Special Rapporteur on extreme poverty and human rights, Philip Alston, submitted in accordance with Human Rights Council resolution 35/19

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In Ontario, a 2012 review of 28 projects showed that the costs were on average 16% lower for traditional publicly procured projects than for PPPs. A 2014 report by the

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sector. On the other hand, critics suggest that PPPs are part of an ideological program that seeks to privatize public services for the profits of private entities.

4469:"Public-Private Partnerships in Foreign Aid: Leveraging U.S. Assistance for Greater Impact and Sustainability | United States Senate Committee on Foreign Relations" 2368:

during periods of financial distress for the city, and the immediate revenues municipalities receive is used to pay down the debt or to fill budget holes. The 2014

1640:

addressing the inauguration of the Associate Chamber of Commerce & Industry National Summit on Public Health Initiatives and the PPP model, in New Delhi. (2006)

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associated with these projects. Part of the reason why evidence of PPP performance is often unavailable is that most financial details of P3s are under the veil of

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Economic Planning Advisory Commission (EPAC) (1995), 'Interim Report of the Private Infrastructure Task Force', Australian Government Publishing Service, Canberra.

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While long-term infrastructure projects compose the bulk of P3s worldwide, other types of Public–private partnerships exist to suit different purposes and actors.

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This justification was particularly important during the 1990s, but has been exposed as an accounting trick designed to make the government of the day appear more

684:. Contemporary "public–private partnerships" came into being around the end of the 20th century. They were aimed at increasing the private sector's involvement in 4976:

Economic Planning Advisory Commission (EPAC) (1995), 'Final Report of the Private Infrastructure Task Force', Australian Government Publishing Service, Canberra.

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Hodge, G. A and Greve, C. (2007), Public–Private Partnerships: An International Performance Review, Public Administration Review, 2007, Vol. 67(3), pp. 545–558

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Public infrastructure is a relatively low-risk, high-reward investment, and combining it with complex arrangements and contracts that guarantee and secure the

992: 980: 4243: 4018:

Pollock, Allyson M; Shaoul, Jean; Vickers, Neil (18 May 2002), "Private finance and "value for money" in NHS hospitals: a policy in search of a rationale?",

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expanded the PFI but sought to shift the emphasis to the achievement of "value for money", mainly through an appropriate allocation of risk. Blair created

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described its progress as "disappointingly slow". To help promote and implement the policy, Major created institutions staffed with people linked with the

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Supporters of P3s claim that risk is successfully transferred from public to private sectors as a result of P3, and that the private sector is better at

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Strauch, L. (2009), 'Public Private Partnership in European Road Infrastructure: PPP as Investment Asset Following the M6 Road Project in Hungary', VDM.

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Under BLT, a private entity builds a complete project and leases it to the government. In this way the control over the project is transferred from the

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Venkat Raman, A. and J. W. Bjorkman (2009), 'Public-Private Partnerships in Health Care in India: Lessons for Developing Countries'. London. Routledge.

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Chinchilla, C. "El nuevo contrato de colaboración entre el setor público y el sector privado", Revista Española de Derecho Administrativo nº 132 (2006)

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Resolution adopted by the General Assembly on 6 July 2017: Work of the statistical commission pertaining to the 2030 Agenda for sustainable development

2904: 2516: 3180: 1240:

governments can typically borrow capital at an interest rate lower than any private company ever could. This is because governments have the power of

3393:"Beyond project governance. Enhancing funding and enabling financing for infrastructure in transport. Findings from the importance analysis approach" 1387: 4678:"International Public Private Partnerships as Part of the Solution to Infectious Disease Threats: Operational, Legal, and Governance Considerations" 5382: 4198: 841: 5030:

Industry Commission (1996), 'Competitive Tendering and Contracting by Public Sector Agencies', Australian Government Publishing Service, Canberra.

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Hodge, G.A. and Greve, C. (2016), On Public-Private Partnership Performance: A Contemporary Review, Public Works Management & Policy, pp. 1–24

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Commission interpretative communication on the application of Community law on Public Procurement and Concessions to institutionalised PPP (IPPP)

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Shaoul, Jean; Stafford, Anne; Stapleton, Pamela (2007). "Partnerships and the role of financial advisors: private control over public policy?".

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so as to make the project economically viable. In other cases, the government may support the project by providing revenue subsidies, including

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During his first term in office, Tony Blair made public-private partnerships the norm for government procurement projects in the United Kingdom.

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Loxley, J. (2010). Public service, private profits: the political economy of public/private partnerships in Canada. Fernwood Publishing. 224 p.

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Cruz, Carlos Oliveira; Marques, Rui Cunha (2013). "Endogenous Determinants for Renegotiating Concessions: Evidence from Local Infrastructure".

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Government sometimes make in kind contributions to a PPP, notably with the transfer of existing assets. In projects that are aimed at creating

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concessions. Transportation projects have accounted for 1/5 of all P3 projects in Canada. Major transportation P3 projects have included the

5085:"Not Fit-for-Purpose The Grand Experiment of Multi-Stakeholder Initiatives in Corporate Accountability, Human Rights and Global Governance." 5208:

Whiteside, H. (2015). Purchase for profit: public-private partnerships and Canada's public health-care system. University of Toronto Press.

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contracted to operate the railways for fifty years from 1898, though originally they were to become his property at the end of the period.

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Möric, K. (2009), 'Les partenariats public-privé – le choix du partenaire privé au regard du droit communautaire, Editions Larcier, 264 p.

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Protest in France against encroaching privatization and the introduction of profit-seeking practices in the public sector. (22 March 2018)

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utilities. Instead of lower prices, large volumes of investment, and improvements in the connection of the poor to water and sanitation,

353: 3510: 2501: 654: 17: 4902:

Delmon, Jeff "Public Private Partnership Programs: Creating a framework for private sector investment in infrastructure, Kluwer, 2014.

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stated that 'PFI was no more efficient than other forms of borrowing and it was "illusory" that it shielded the taxpayer from risk'.

34:

Public–private partnerships are often represented by a handshake, symbolizing the private and public partners coming to an agreement.

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Whiteside, Heather (1 September 2011). "Unhealthy policy: The political economy of Canadian public-private partnership hospitals".

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bonds) are "a public–private partnership which funds effective social services through a performance-based contract", according to

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The American government seeks to promote public–private partnerships around the globe to meet its various foreign policy goals.

5359: 3950: 898:(PFI), the first systematic program aimed at encouraging public–private partnerships. The 1992 program focused on reducing the 308: 4986:

Hart, Oliver (2003). "Incomplete contracts and public ownership: Remarks, and an application to public‐private partnerships".

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more expensive and less efficient in supporting hospitals, schools, and other public infrastructure than public financing. A

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Quiggin, J. (1996), 'Private sector involvement in infrastructure projects', Australian Economic Review, 1st quarter, 51–64.

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the ownership of the asset and the operational responsibility is transferred to the government at a previously agreed price.

5437: 5372: 5157: 4159: 4147: 1545:. After a year of being controlled by the public, it is projected that the water tariff will be cut by between 5% and 10%. 3799: 3211:"Europe Sees Mixed Results From Public-Private Partnerships For Building And Managing Health Care Facilities And Services" 2661: 5397: 5219: 4397:

Siemiatycki, Matti (1 September 2015). "Public-Private Partnerships in Canada: Reflections on twenty years of practice".

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as landlord, providing housekeeping and other non-medical services, while the hospital itself provides medical services.

899: 605: 348: 5196:

Spackman, M. (2002), 'Public–private partnerships: lessons from the British approach', Economic Systems, 26(3), 283–301.

4781: 3269:"The dynamics of contractual and relational governance: Evidence from long-term public–private procurement arrangements" 3210: 2004:

is a grant of rights, land or property by a government, local authority, corporation, individual or other legal entity.

1530:

have increased out of reach of poor households. Water multinationals are withdrawing from developing countries, and the

752:

pressures. Despite there being no formal consensus regarding a definition, the term has been defined by major entities.

4859: 3601: 3306:

Moszoro M., Gasiorowski P. (2008), 'Optimal Capital Structure of Public–Private Partnerships', IMF Working Paper 1/2008

1414:) when the cost of the complex scientific laboratory, which was ultimately built, was very much larger than estimated. 845: 807: 724:. Evidence of PPP performance in terms of value for money and efficiency, for example, is mixed and often unavailable. 537: 313: 4501: 3155: 1315:

their practical implementation. A Scottish auditor once qualified this use of the term as "technocratic mumbo-jumbo".

5349: 4336: 3984: 2882: 2679: 2644: 2433: 1819: 1708:

Aside from the support of national governments and financial firms, PPPs are promoted by the following institutions:

879:

fallacies arising from the fact that public accounts did not distinguish between recurrent and capital expenditures.

769: 5542: 4267:"De facto privatisation or a renewed role for the EU? Paying for Europe's healthcare infrastructure in a recession" 2180: 1399: 290: 3858:

United Kingdom, National Audit Office, PF1 and PF2, a report by the Comptroller and Auditor General (London, 2018)

653:

and/or users for profit over the course of the PPP contract. Public–private partnerships have been implemented in

5532: 5486: 4899:

Delmon, Jeff "Private Sector Investment in Infrastructure: Project finance, PPP projects and risk," Kluwer, 2009.

3362:"Beyond theory: Towards a probabilistic causation model to support project governance in infrastructure projects" 2383:(GPPP) is a governance mechanism to foster public–private partnership (PPP) cooperation between an international 1840:

There are many types and delivery models of PPPs, the following is a non-exhaustive list of some of the designs:

1786: 179: 5080:

Minnow, Martha and Jody Freeman (2009), Government By Contract: Outsourcing and American Democracy, Harvard U.P.

3094: 3092: 1506: 4968:, Gasiorowski P. (2008), 'Optimal Capital Structure of Public–Private Partnerships', IMF Working Paper 1/2008. 2991: 2832:

OECD (2012), Recommendation of the Council on Principles for Public Governance of Public-Private Partnerships,

2798:

Marta Marsilio, M., Cappellaro, G and Cuccurullo, C. (2011), The Intellectual Structure Of Research Into PPPs,

2526: 2384: 1877: 598: 4217: 4000: 3130: 2456:

as early as 1991 as an "institutional reform ... to facilitate the participation of individuals, CBOs , other

1446:

failed arrangement with Consort and at the very least be looking to bring facilities management back in-house.

5496: 5461: 5047: 5006: 4999:"Public-private partnerships versus traditional procurement: Innovation incentives and information gathering" 3831: 3089: 2457: 1823: 1538: 818: 270: 3453:"Who should share in the risks and rewards of Sidewalk Labs' smart city on Toronto's waterfront? | The Star" 1724:

countries had created a centralized PPP unit, and many more of these institutions exist in other countries.

5522: 5466: 4870: 4845: 3564:

Siemiatycki, Matti; Farooqi, Naeem (July 2012). "Value for Money and Risk in Public-Private Partnerships".

2918:

Wettenhall, R. (2000), Mixes and partnerships through time, in G.A. Hodge, C. Greve and A. Boardman (eds.),

2476: 1811: 1807: 1644:

For more than two decades, public–private partnerships have been used to finance health infrastructure. In

1437: 1159:

behavior, which leads to spiraling costs for users and/or taxpayers in the operation phase of the project.

479: 333: 275: 4630: 991:

laws, and dedicated state spending on public infrastructure in these countries made the implementation of

5271: 3954: 1205: 903: 338: 212: 3320:"Incomplete Contracts and Public Ownership: Remarks, and an Application to Public–Private Partnerships*" 5377: 5261: 5242: 4065:

Carrell, Severin (21 April 2012), "Power cut leaves surgeons operating by torchlight at PFI hospital",

1456: 1418: 1347: 1339: 1303: 1269: 1192:, while offloading the costs of their projects to service users or future governments. In Canada, many 895: 3912:"The Termination of the PFI Contract for the National Physical Laboratory |National Audit Office" 5527: 4595: 4547:

Public Private Partnerships: the worldwide revolution in infrastructure provision and project finance

1733: 1452: 1352: 1323: 782: 401: 169: 149: 104: 4718: 4357: 863:

turn. Instigators of the policy portrayed PPPs as a solution to concerns about the growing level of

5491: 4596:

Special Report: Public-Private Partnerships in the EU: Widespread shortcomings and limited benefits

2833: 2083: 1581: 1131: 522: 363: 94: 1761: 1691:

promotes the use of P3s to assist the exploitation of certified timber and non-timber products in

995:

difficult. PPPs in the countries usually can't rely on stable revenues from user fees either. The

5326: 4795: 4020: 2521: 2480: 1835: 1664: 1477: 1428: 1390:

in 2004 after the private sector partners involved in the PFI contract made losses of over £100m.

1216: 1196:

have condemned this practice, and forced governments to include PPP projects "on-balance sheet".

1115: 1058: 883: 532: 99: 5537: 5443: 5432: 5339: 4998: 4893:

Burnett, M. "PPP – A decision maker's guide", European Institute of Public Administration, 2007

4819: 3836: 2636: 2511: 2453: 2259: 1770: 1737: 1221: 232: 222: 4696: 2440:

Australia notes that "to date, market-led proposals have had a relatively high failure rate".

1901:

In a BOO project ownership of the project remains usually with the project company, such as a

837: 5334: 4705: 4344: 4148:

Deputy Mayor of Paris Anne Le Strat tells how Paris put water services back into public hands

2941: 2934: 2449: 2001: 1881: 1692: 1553: 1386:

The maintenance of the new National Physical Laboratory building was transferred back to the

1189: 972: 849: 833: 829: 745: 688:. They were seen by governments around the world as a method of financing new or refurbished 685: 542: 318: 227: 129: 4739: 3726:

Languille, "Public-private partnerships in education and health in the global South", p. 156

3622:

What lies beneath? A critical assessment of PPPs and their impact on sustainable development

2628: 2460:

and the private sector" so that they become "actively involved in planning and management".

5099: 1902: 1893:

used in projects like highways, roads mass transit, railway transport and power generation.

1791: 1645: 1605: 1601: 1561: 1335: 976: 711:

is lower than returns for the private funder. PPPs are closely related to concepts such as

708: 396: 391: 381: 89: 3319: 2395:. Existing GPPPs strive, among other things, to increase affordable access to non-generic 8: 5344: 2531: 2416: 2018: 1523: 1515: 517: 250: 4962:, Revue de la Recherche Juridique – Droit prospectif, PUAM, 2005–1, p. 337 & s. 4135: 5411: 5185: 5177: 5139: 4291: 4266: 4106: 4042: 3751: 3691: 3581: 3288: 3249: 3026: 2484: 2468: 2369: 1613: 1368: 1331: 1049: 999:'s Public-Private Infrastructure Advisory Forum attempts to mitigate these challenges. 938: 512: 5301: 5189: 5125: 5103: 5084: 5060: 5039: 4932: 4915: 4691: 4658: 4648: 4575: 4550: 4525: 4414: 4296: 4110: 4098: 4047: 3980: 3695: 3683: 3643: 3585: 3504: 3437: 3342: 3292: 3241: 3181:"Unsealed records allege a cover up of safety concerns on Gov. Mario M. Cuomo Bridge" 3046: 2970: 2945: 2853: 2778: 2768: 2675: 2640: 2629: 2609: 2392: 1637: 1519: 1182: 957: 826:

Governments have used such a mix of public and private endeavors throughout history.

693: 562: 464: 454: 444: 74: 42: 5122:

The Public Private Partnership of Cartagena de Indias – Colombia: Agbar's Experience

3526:"Social Value Creation and Relational Coordination in Public-Private Collaborations" 3253: 2594: 2577: 1334:

based on competitively tendered construction of publicly owned assets. In 2009, the

949:. At that time, PPPs were seen as a radical reform of government service provision. 649:

financing government projects and services up-front, and then drawing revenues from

5476: 5169: 5064: 5056: 5015: 4929:

Green Infrastructure Financing: Institutional Investors, PPPs and Bankable Projects

4681: 4502:

https://www.pppcouncil.ca/web/P3_Knowledge_Centre/About_P3s/Definitions_Models.aspx

4406: 4372: 4286: 4278: 4123: 4090: 4037: 4029: 3774:"Ontario AG reveals Public-Private Partnerships aren't a savings bonanza after all" 3675: 3573: 3537: 3433: 3404: 3377: 3373: 3334: 3280: 3233: 3225: 3078: 3038: 2667: 2599: 2589: 2110: 1745: 1720:

P3 projects in their country prior to the creation of the P3 unit. In 2009, 50% of

1696:

the first place. Many forestry sector partnerships with NGOs are nothing more than

1576: 1062: 942: 739:

hosts a meeting for employers about public-private partnerships. (13 November 2019)

701: 574: 484: 449: 424: 184: 84: 4500:

The Canadian Council for Public-Private Partnerships, "Definitions & Models",

4334: 3869: 3409: 2578:"Are public–private partnerships a healthy option? A systematic literature review" 2363:

A form of P3 that became prevalent in American cities during the 21st century are

5422: 5417: 5296: 5035: 4508: 4094: 3603: 3577: 3284: 2905:"Local government services and contracts: Best practices and key issues to watch" 2878:"Collaborative Service Delivery: What Every Local Government Manager Should Know" 2396: 2005: 1781:

works to promote public–private partnerships in countries where it operates. The

1395: 1290: 1193: 1091: 1087: 988: 984: 961: 946: 673: 646: 642: 586: 507: 439: 429: 419: 328: 207: 118: 69: 4433: 2419:

issued an "interpretative communication" in 2008 regarding the establishment of

945:. This explains why each countries experimenting with PPPs started in different 5311: 5286: 5276: 5091: 4965: 3679: 3101:"Literature Review: Evaluating the Costs and Benefits of Centralised PPP Units" 3082: 2388: 1910: 1906: 1782: 1652: 1560:

to execute a public–private partnership under legislation passed in 2016", and

1473: 1411: 1402:. This deal ultimately caused the collapse of the building contractor Laser (a 1364: 1185:" method of financing the delivery of new or refurbished public-sector assets. 1122:

sector, the government may provide a capital subsidy in the form of a one-time

1119: 1009: 907: 891: 872: 721: 658: 474: 323: 164: 144: 4452: 4314: 4033: 3229: 1044: 5511: 5316: 5281: 5211: 5173: 4919: 4662: 4418: 4282: 4102: 3687: 3424:

Hodge, Grame A. (2004). "The risky business of public-private partnerships".

3346: 3050: 2782: 2496: 1922: 1609: 1549: 1403: 1375: 1123: 934: 860: 795: 749: 712: 689: 677: 469: 459: 434: 174: 154: 139: 124: 50: 5019: 3338: 1106:

firms have increased their interest in PPP since the 2008 financial crisis.

5291: 5256: 5040:"Risk allocation and the costs and benefits of public-private partnerships" 4300: 4067: 4051: 3245: 3237: 2613: 2604: 2009: 1926: 1697: 1542: 1527: 1518:

in the 1990s, mostly in developing countries, experiences show that global

1489: 1481: 1382: 1156: 1025: 736: 707:

PPPs are controversial as funding tools, largely over concerns that public

681: 489: 386: 134: 79: 2877: 2671: 1363:

One of the main rationales for P3s is that they provide for a transfer of

981:

new sources of funding for infrastructure projects in transition economies

5306: 5266: 4686: 4677: 3832:"Brian Rudman: Promised electric trains derailed by misguided enthusiasm" 2660:

Bovaird, Tony (25 September 2015). Bovaird, Tony; Loeffler, Elke (eds.).

2536: 2400: 1472:

One of the main criticisms of public–private partnerships is the lack of

1262: 1103: 1029: 915: 911: 864: 856: 800: 665: 527: 285: 280: 260: 109: 4824:

The Urban Poor and Basic Infrastructure Services in Asia and the Pacific

4453:"Measuring progress towards the Sustainable Development Goals." (SDG 17) 3943:

The Termination of the PFI Contract for the National Physical Laboratory

3524:

Caldwell, Nigel D.; Roehrich, Jens K.; George, Gerard (September 2017).

1057:

Typically, a private-sector consortium forms a special company called a

581: 5481: 5427: 5181: 4410: 4335:

Center for International Forestry Research (CIFOR) (1 September 2015).

3735:

European Court of Auditors, Public-Private Partnerships in the EU, p. 9

3542: 3525: 3100: 2992:"The Private Finance Initiative (PFI) Commons Briefing papers RP01-117" 2014: 1967: 1794:

committed to public–private partnerships for infrastructure worldwide.

1778: 1684: 1531: 1398:. As an example of successful risk transfer, they cite the case of the 1152: 996: 953: 929:

Around the same time, PPPs were being initiated haphazardly in various

887: 876: 868: 717: 669: 358: 255: 217: 114: 30: 5069: 3027:"Public-private community partnerships in infrastructure for the poor" 1966:

model is extensively used in specific infrastructure projects such as

933:

countries. The first governments to implement them were ideologically

3042: 2404: 1913:. Some examples of BOO projects come from the water treatment plants. 1679:

PPP options in the forest sector can include joint forest management

1597: 1127: 1083: 1017: 965: 921: 265: 64: 4969: 4907: 3887:"Treasury must set out clear position on PFI - News from Parliament" 3361: 3305: 794:

debate pertaining to whether public–private partnerships constitute

5087:

San Francisco: Institute for Multi-Stakeholder Initiative Integrity

1741: 1617: 1585: 1557: 1319: 1099: 791: 697: 650: 343: 189: 4796:"Do market-led proposals have their place? | News & Insights" 4756: 2437: 1930: 1680: 1302:

Value for money assessment procedures were incorporated into the

1033: 1021: 557: 5158:"Toward an Understanding of Types of Public-Private Cooperation" 2834:

https://www.oecd.org/governance/budgeting/PPP-Recommendation.pdf

2794: 2792: 1493:

surveys and in the scholarly criticisms of these arrangements."

4866: 4784:, 2008/C 91/02, published 12 April 2008, accessed 8 August 2023 2410: 2026:

Different Levels of Private sector engagement in PPP contracts

569: 1074:

only reduce operating costs but also reduce service quality).

987:. However, the lack of investor rights guarantees, commercial 4860:"Social Impact Bonds: Rethinking finance for social outcomes" 4199:"Referendum results in: P3 model to fund Regina sewage plant" 4162:. Globalwaterintel.com (2011-01-13). Retrieved on 2011-11-20. 3976: 2967:

Public Sector Decision Making for Public-private Partnerships

2789: 2576:

Roehrich, Jens K.; Lewis, Michael A.; George, Gerard (2014).

1803: 1688: 1510:

Sign at the entrance of the Regina Wastewater Treatment Plant

1407: 1371:

too high, then the government is overpaying for P3 projects.

1272:

said that the province overpaid by $ 8 billion through PPPs.

1095: 867:

during the 1970s and 1980s. They sought to encourage private

4960:

Les financements innovants de services et de projets publics

2969:. Washington, DC: Transportation Research Board. p. 9. 1929:

but operation purposes are leased. After the expiry of the

1749: 1721: 1013: 930: 756: 3156:"House of Commons - Private Finance Initiative - Treasury" 2555: 2553: 2551: 1925:

to a lessee. In other words, the ownership remains by the

1905:. Therefore, the private company gets the benefits of any 844:, chartered in New Jersey in 1815; and most of the modern 3444: 3397:

European Journal of Transport and Infrastructure Research

2810: 2808: 1241: 1102:, which funded the majority of P3 projects in Australia. 748:

of the late 20th century, the rise of neoliberalism, and

4888:

Managing Disasters Through Public–Private Partnerships,

4258: 3308:. Papers.ssrn.com (2008-01-25). Retrieved on 2011-11-20. 2443: 918:

firms who had a vested interest in the success of PFI.

4173:"Brandenburg's wastewater P3 could be Kentucky's first" 3114:

Vaillancourt, François; Bird, Richard M., eds. (2008).

3068: 2548: 1971: 1417:

On the other hand, Allyson Pollock argues that in many

840:

in 1808; many of the railroads, including the nation's

720:, while critics decry their higher costs and issues of 4572:

Innovative Project Delivery Methods for Infrastructure

4373:"WWF wins Survival's "Greenwashing of the Year" award" 4150:. Canadians.org (2011-02-18). Retrieved on 2011-11-20. 3523: 2805: 1884:

period, the facility is transferred back to the owner.

641:) is a long-term arrangement between a government and 4910:[The public-private collaboration contract]. 3390: 3359: 2920:

International Handbook in Public–Private Partnerships

2399:

and vaccines in developing countries, and to promote

1028:

at the dawn of the 19th century, and the more recent

975:, PPPs immediately received significant attention in 4017: 3208: 2909:

JournalistsResource.org, retrieved February 14, 2014

2843: 2841: 2375: 2372:

deal included many asset monetization arrangements.

1663:

In the UK, P3s were used to build hospitals for the

1548:

In the 2010s, as wastewater treatment plants across

1293:. Heather Whiteside defines P3 "Value for money" as: 4337:"Public private partnership in forestry management" 3559: 3557: 3555: 3553: 2575: 5155: 4610:"Worli-Haji Ali sea link will be ready in 4 years" 4218:"The enormous cost of public-private partnerships" 3563: 3266: 2936:Parting the desert: the creation of the Suez Canal 2933: 2517:Top 100 Contractors of the U.S. federal government 1467: 993:public–private partnership in transition economies 979:. This is because the PPP model promised to bring 4441:. United Nations General Assembly. pp. 1–25. 3747:"The hidden price of public-private partnerships" 3025:Franceys, Richard; Weitz, Almud (November 2003). 2838: 5509: 5096:Captive State, The Corporate Takeover of Britain 4209: 4138:. Cupe.ca (2010-02-25). Retrieved on 2011-11-20. 3597: 3595: 3550: 3113: 1226:Abbotsford Regional Hospital & Cancer Centre 4905: 3267:Zheng, J.; Roehrich, J.K.; Lewis, M.A. (2008). 3209:Barlow, J.; Roehrich, J.K.; Wright, S. (2013). 3204: 3202: 3116:Fiscal Decentralization in Developing Countries 2875: 1797: 1175: 5406:Infrastructure Investment Facilitation Company 5241: 5156:Schaeffer, Peter V.; Loveridge, Scott (2002). 5033: 4544: 4445: 4235: 3964: 1844:Operation and maintenance contract (O & M) 1522:have not brought the promised improvements in 799:public assets, but more extensive than simply 5227: 4908:"El contrato de colaboración público privada" 4906:Gonzalez Garcia, Julio V. (May–August 2006). 3973:NHS Plc: The Privatisation of Our Health Care 3592: 3391:Cardenas, I.; Voordijk, H; Geert, D. (2018). 3360:Cardenas, I.; Voordijk, H; Geert, D. (2017). 3024: 2421:institutionalised public–private partnerships 1756: 1636:Indian Minister of Health and Family Welfare 810:describes P3s as "privatization by stealth". 606: 4996: 4264: 3566:Journal of the American Planning Association 3199: 2847: 2411:Institutionalised public–private partnership 1974:according to the European Court of Auditors. 1238:The private sector's higher cost of capital: 4997:Hoppe, Eva I.; Schmitz, Patrick W. (2013). 4738:. World Health Organization. Archived from 4643:Whiteside, Heather (2016). "Why are P3s?". 4396: 4080: 3861: 3642:. Washington: IMF. 2014. pp. 324–327. 3426:Australian Journal of Public Administration 3366:International Journal of Project Management 3273:Journal of Purchasing and Supply Management 2871: 2869: 2848:Vining, Aidan R.; Weimer, David L. (2011). 1556:, which was the "first local government in 354:Regional Comprehensive Economic Partnership 5234: 5220: 5162:Public Performance & Management Review 5144:: CS1 maint: location missing publisher ( 4733:"Access to affordable essential medicines" 2899: 2897: 1343:complexities and rigidities they entail". 1039: 777: 613: 599: 5068: 4826:, Vol. I. Asian Development Bank: Manila. 4695: 4685: 4642: 4370: 4315:"Public-Private Partnerships in Forestry" 4290: 4136:Reversal of privatization of Paris' water 4041: 3824: 3665: 3640:GOVERNMENT FINANCE STATISTICS MANUAL 2014 3541: 3408: 3173: 3098: 2876:Hilvert, Cheryl; Swindell, David (2014). 2762: 2603: 2593: 1588:, whose price is periodically increasing. 1327:independent value-for-money assessments. 875:, initially on the basis of ideology and 4793: 4607: 4594:The European Court of Auditors (2018), " 4574:. Finnish Road Enterprise. p. 120. 4549:. Edward Elgar Publishing. p. 268. 4271:Journal of the Royal Society of Medicine 4265:Barlow, J. Roehrich; Wright, S. (2010). 4215: 2983: 2931: 2866: 1767:People-First Public-Private Partnerships 1760: 1703: 1631: 1596:Many P3s in the United States have been 1575: 1505: 1388:British Department of Trade and Industry 1381: 1279: 1215: 1043: 920: 822:Second Toll Gate on Yonge Street in 1886 817: 781: 731: 29: 5090: 4945: 4390: 4241: 4191: 4064: 3998: 3970: 3744: 3450: 2999:UK Parliament: House of Commons Library 2964: 2894: 2659: 1816:Overseas Private Investment Corporation 1566:referendum on the plant's funding model 1086:make PPP projects prime candidates for 952:In 1997, the new British government of 14: 5510: 4545:Lewis/ Grimsey, Mervyn/Darrin (2007). 4522:Project Finance in theory and practice 4431: 4425: 3618: 3509:: CS1 maint: archived copy as title ( 3128: 3107: 3064: 3062: 3060: 2502:Public–private partnerships by country 2426: 1988:Design–construct–manage–finance (DCMF) 1687:agencies, various investors and NGOs. 1338:, in response to inquiries by the new 983:, which could translate into jobs and 309:Association of Southeast Asian Nations 27:Government/private company partnership 5215: 5119: 4675: 4569: 4519: 4496: 4494: 4492: 4490: 4451:Ritchie, Roser, Mispy, Ortiz-Ospina. 3922:from the original on 24 December 2013 3867: 3800:"Comment: PFI is dead, long live PFI" 3661: 3659: 3423: 3020: 3018: 3016: 2765:Public-private partnerships in Canada 2758: 2756: 2754: 2752: 2750: 2748: 2746: 2744: 2742: 2740: 2738: 2736: 2734: 2732: 2730: 2728: 2726: 2724: 2626: 2507:Industry funding of academic research 2463: 2444:Public–private–community partnerships 2358: 2202:Design–build–finance–maintain–operate 1077: 1048:One year after the completion of the 645:institutions. Typically, it involves 5438:Public-Private Partnership Authority 5168:(2). Taylor & Francis: 169–189. 4838:Social Impact Bonds: The Early Years 4757:"The Global Handwashing Partnership" 4620:from the original on 1 October 2012. 3992: 3934: 3904: 3870:"PFI poor value for money, says MPs" 3766: 3317: 3031:Journal of International Development 2722: 2720: 2718: 2716: 2714: 2712: 2710: 2708: 2706: 2704: 2693: 2691: 2571: 2569: 2567: 2565: 2452:. They were notably proposed by the 2240:Operation & maintenance contract 1979:Design–build–operate–transfer (DBOT) 1516:privatization of many water services 1166: 664:Cooperation between private actors, 4926: 4636: 3745:McKenna, Barrie (14 October 2012). 3057: 1727: 1358: 1318:Project promoters often contract a 900:public-sector borrowing requirement 672:has existed since the inception of 349:North American Free Trade Agreement 24: 4914:(in Spanish) (170). Madrid: 7–39. 4880: 4676:Klock, Kevin A. (1 October 2016). 4487: 4001:"The Biggest Weirdest Rip-Off Yet" 3656: 3013: 1829: 1674: 1627: 1275: 808:Canadian Union of Public Employees 538:Criticism of intellectual property 314:Bank for International Settlements 25: 5554: 5350:Global Public-private partnership 4912:Revista de Administración Pública 4216:Reynolds, Keith (3 August 2017). 2883:State and Local Government Review 2701: 2688: 2562: 2434:Australian states and territories 2381:Global public–private partnership 2376:Global public–private partnership 1889:Build–own–operate–transfer (BOOT) 1571: 1534:is reluctant to provide support. 1501: 770:State and Local Government Review 5061:10.1111/j.1756-2171.2012.00181.x 4647:. Halifax: Fernwood Publishing. 4608:Siddhaye, Ninad (29 June 2010). 4432:United, Nations (10 July 2017). 4242:Appleby, John (6 October 2017). 3999:Monbiot, George (7 April 2009), 3868:Tyrie, Andrew (19 August 2011), 3451:Vincent, Donovan (1 July 2019). 3438:10.1111/j.1467-8500.2004.00400.x 2767:. Halifax: Fernwood Publishing. 2663:Public Management and Governance 1717:Public–private partnership units 1211: 580: 568: 556: 291:Economic liberalization in India 4852: 4829: 4813: 4787: 4774: 4749: 4725: 4669: 4631:What is a concession agreement? 4624: 4601: 4588: 4538: 4524:. Academic Press. p. 414. 4513: 4461: 4364: 4328: 4307: 4165: 4153: 4141: 4129: 4117: 4074: 4058: 4011: 3879: 3852: 3814: 3792: 3738: 3729: 3720: 3711: 3702: 3632: 3612: 3517: 3471: 3417: 3384: 3353: 3311: 3299: 3260: 3148: 3122: 2958: 2925: 2912: 2826: 2595:10.1016/j.socscimed.2014.03.037 2017:in a public utility (such as a 1822:also promotes PPPs through its 1787:Sustainable Development Goal 17 1468:Accountability and transparency 1155:created by PPPs can generate a 180:Structural Adjustment Programme 4616:. Diligent Media Corporation. 4399:Canadian Public Administration 3378:10.1016/j.ijproman.2017.01.002 3129:Mayers, Adam (24 March 2008). 2817: 2653: 2620: 2385:intergovernmental organisation 2350: 2021:) for a given number of years. 1669:PFI schemes in the English NHS 13: 1: 5497:European PPP Expertise Centre 5462:Office of Global Partnerships 5048:The RAND Journal of Economics 5007:The RAND Journal of Economics 4794:Sarcevic, Amy (5 June 2018). 4377:www.survivalinternational.org 3802:. Politics.co.uk. 23 May 2012 3530:Journal of Management Studies 3410:10.18757/ejtir.2018.18.4.3261 3118:. Cambridge University Press. 2989: 2922:, Cheltenham UK: Edward Elgar 2852:. Pearson, Inc. p. 309. 2850:Policy Analysis Edition No.05 2582:Social Science & Medicine 2542: 2156:Design–build–finance–maintain 2034:Identify Infrastructure Need 1958:Design–build–finance–maintain 1824:Office of Global Partnerships 1436:Following an incident in the 1220:A discredited 2001 report by 1109: 1020:users such as in the case of 727: 676:, notably for the purpose of 5467:Global Development Alliances 4890:Georgetown University Press. 4095:10.1080/03003930.2013.783476 3578:10.1080/01944363.2012.715525 3285:10.1016/j.pursup.2008.01.004 3131:"When Yonge was a toll road" 2182:Design–build–finance–operate 1814:, which was merged into the 1812:Development Credit Authority 1808:Global Development Alliances 1798:United States foreign policy 1711: 1485:are often heavily redacted. 1438:Royal Infirmary of Edinburgh 1400:National Physical Laboratory 1346:In the United Kingdom, many 1261:contract. For P3 schools in 1224:predicted that building the 1176:Off-balance-sheet accounting 334:Greater Arab Free Trade Area 276:Positive non-interventionism 7: 5272:Multistakeholder governance 4645:Public-private partnerships 3619:Romero, Maria Jose (2015). 2965:Buxbaum, Jeffrey N (2009). 2940:. Alfred A. Knopf. p. 2763:Whiteside, Heather (2016). 2490: 1580:The main toll plaza of the 1206:International Monetary Fund 1098:and Dutch state-owned bank 904:Chancellor of the Exchequer 700:costs. PPPs also have high 694:outside their balance sheet 657:and are primarily used for 339:International Monetary Fund 10: 5559: 5518:Public–private partnership 5262:Public-private partnership 5243:Public-private partnership 4126:on Transnational Institute 3680:10.5172/hesr.2011.20.3.258 3160:publications.parliament.uk 3083:10.1332/030557307781571678 2932:Karabell, Zachary (2003). 2483:, is being implemented in 2302:Build–own–operate–transfer 1918:Build–lease–transfer (BLT) 1833: 1757:International institutions 1568:. The P3 option won out." 1496: 1482:commercial confidentiality 1348:private finance initiative 1270:Auditor General of Ontario 1146: 1132:guaranteed annual revenues 1002: 896:Private finance initiative 813: 767:A 2013 study published in 627:public–private partnership 160:Public–private partnership 18:Public-private partnership 5452: 5396: 5358: 5325: 5249: 4371:International, Survival. 4124:the Water Justice Project 4034:10.1136/bmj.324.7347.1205 3971:Pollock, Allyson (2005), 3230:10.1377/hlthaff.2011.1223 2337: 2324: 2321: 2308: 2305: 2292: 2286: 2283: 2267: 2264: 2246: 2243: 2230: 2227: 2224: 2208: 2205: 2192: 2189: 2186: 2162: 2159: 2146: 2143: 2140: 2127: 2115: 2100: 2088: 2073: 2067: 1667:. In 2017 there were 127 1353:treasury select committee 1324:Big Four accounting firms 105:Foreign direct investment 5492:European Investment Bank 5174:10.1177/1530957602238261 4456:SDG-Tracker.org, website 4283:10.1258/jrsm.2009.090296 4083:Local Government Studies 3609:, NYC, 26 September 2019 2802:, Vol 13 (6), pp.763–782 2800:Public Management Review 2631:Encyclopedia of the City 2481:development impact bonds 1137: 859:was associated with the 523:Authoritarian capitalism 364:World Trade Organization 95:Economic interdependence 5543:Construction management 5120:Onses, Richard (2003). 5083:MSI Integrity. (2020). 5020:10.1111/1756-2171.12010 4927:Koh, Jae Myong (2018). 4570:Pekka, Pakkala (2002). 4520:Gatti, Stafano (2007). 4507:28 October 2020 at the 4021:British Medical Journal 3668:Health Sociology Review 3339:10.1111/1468-0297.00119 2522:Sustainable procurement 1898:Build–own–operate (BOO) 1836:Project delivery method 1665:National Health Service 1429:British Medical Journal 1163:time or in perpetuity. 1059:special-purpose vehicle 1040:Special purpose vehicle 838:New York and New Jersey 778:Debate on privatization 533:Criticism of capitalism 100:Economic liberalization 5533:Government procurement 5444:Scottish Futures Trust 5433:Infrastructure Ontario 5340:Build-operate-transfer 4931:. Palgrave Macmillan. 4820:Asian Development Bank 4713:Cite journal requires 4473:www.foreign.senate.gov 4352:Cite journal requires 3953:, 2006, archived from 3837:The New Zealand Herald 2635:. Routledge. pp. 2527:Build–operate–transfer 2512:Government procurement 2454:Asian Development Bank 2260:Build-operate-transfer 1878:Build–operate–transfer 1774: 1771:World Investment Forum 1738:PricewaterhouseCoopers 1736:" accounting firms of 1641: 1622:London Underground PPP 1589: 1511: 1488:A 2007 survey of U.S. 1448: 1434: 1391: 1300: 1286: 1229: 1222:PricewaterhouseCoopers 1054: 968:based on PUK's model. 926: 823: 787: 740: 35: 5455:institutional support 4886:Abou-bakr, A (2013), 4780:European Commission, 4761:globalhandwashing.org 4244:"Making sense of PFI" 3951:National Audit Office 3628:. Eurodad. p. 5. 3318:Hart, Oliver (2003). 3071:Policy & Politics 2672:10.4324/9781315693279 2627:Caves, R. W. (2004). 2450:Third world countries 1834:Further information: 1792:United States dollars 1764: 1704:Institutional support 1693:Third World countries 1635: 1579: 1554:Brandenburg, Kentucky 1509: 1443: 1424: 1385: 1374:Incidentally, a 2018 1295: 1283: 1219: 1047: 1012:are used rather than 973:first world countries 924: 850:Robert Gillespie Reid 830:Muhammad Ali of Egypt 821: 803:government services. 785: 746:new public management 735: 686:public administration 563:Capitalism portal 543:Market fundamentalism 319:European Central Bank 150:Mundell–Fleming model 130:Intellectual property 33: 5388:Transition economies 4687:10.2139/ssrn.3971005 4322:USAID Forest Program 4205:. 25 September 2013. 3327:The Economic Journal 2485:developing countries 2436:. Amy Sarcevic from 2403:with soap to reduce 2334:Market-led proposals 2280:Build–lease–transfer 2137:Design–build–finance 1903:mobile phone network 1606:Prince Edward Island 1602:Confederation Bridge 1562:Regina, Saskatchewan 1336:New Zealand Treasury 1190:fiscally responsible 1134:for a fixed period. 977:developing countries 709:return on investment 575:Economics portal 397:Adam Smith Institute 392:World Economic Forum 382:Mont Pelerin Society 90:Economic integration 5523:Government finances 5414:(England and Wales) 5345:Social impact bonds 5034:Iossa, Elisabetta; 4745:on 19 January 2022. 4028:(7347): 1205–1209, 3960:on 29 November 2007 2532:Economic conversion 2469:Social impact bonds 2427:Market-led proposal 2417:European Commission 2027: 2019:water privatization 1806:promoted PPPs with 971:While initiated in 848:. In Newfoundland, 587:Politics portal 518:Alter-globalization 251:Fiscal conservatism 5412:Local Partnerships 4871:Social Finance Ltd 4411:10.1111/capa.12119 4179:. 25 February 2020 3780:. 10 December 2014 3752:The Globe and Mail 3543:10.1111/joms.12268 2464:Social impact bond 2370:Detroit bankruptcy 2365:asset monetization 2359:Asset monetization 2043:Project financing 2025: 1775: 1642: 1614:Pocahontas Parkway 1590: 1520:water corporations 1512: 1392: 1332:public procurement 1287: 1230: 1078:Financial partners 1055: 1050:Mario Cuomo Bridge 927: 824: 788: 741: 655:multiple countries 513:Anti-globalization 36: 5505: 5504: 5302:Off-balance sheet 5131:978-84-607-8089-2 5109:978-0-333-90164-9 4958:Monera Frédéric, 4938:978-3-319-71769-2 4800:Informa Australia 4654:978-1-55266-896-2 4581:978-952-5408-05-8 4556:978-1-84720-226-0 4531:978-0-12-373699-4 4177:Building Kentucky 3649:978-1-49834-376-3 3491:on 15 August 2018 2976:978-0-309-09829-8 2951:978-0-375-40883-0 2859:978-0-205-78130-0 2774:978-1-55266-896-2 2393:private companies 2348: 2347: 2318:Build–own–operate 2037:Propose solution 1746:Ernst & Young 1638:Anbumani Ramadoss 1254:Operating profits 1248:Transaction costs 1183:off-balance sheet 1167:P3 justifications 1088:project financing 943:business magnates 764:period of time". 755:For example, The 702:transaction costs 623: 622: 465:Yasuhiro Nakasone 455:Margaret Thatcher 445:James M. Buchanan 75:Denationalization 16:(Redirected from 5550: 5528:Public economics 5477:Concordia Summit 5236: 5229: 5222: 5213: 5212: 5193: 5149: 5143: 5135: 5113: 5074: 5072: 5044: 5036:Martimort, David 5023: 5003: 4988:Economic Journal 4955: 4942: 4923: 4875: 4874: 4864: 4856: 4850: 4849: 4843: 4833: 4827: 4817: 4811: 4810: 4808: 4806: 4791: 4785: 4778: 4772: 4771: 4769: 4767: 4753: 4747: 4746: 4744: 4737: 4729: 4723: 4722: 4716: 4711: 4709: 4701: 4699: 4689: 4673: 4667: 4666: 4640: 4634: 4628: 4622: 4621: 4605: 4599: 4592: 4586: 4585: 4567: 4561: 4560: 4542: 4536: 4535: 4517: 4511: 4498: 4485: 4484: 4482: 4480: 4465: 4459: 4449: 4443: 4442: 4440: 4429: 4423: 4422: 4394: 4388: 4387: 4385: 4383: 4368: 4362: 4361: 4355: 4350: 4348: 4340: 4332: 4326: 4325: 4319: 4311: 4305: 4304: 4294: 4262: 4256: 4255: 4253: 4251: 4246:. Nuffield Trust 4239: 4233: 4232: 4230: 4228: 4213: 4207: 4206: 4195: 4189: 4188: 4186: 4184: 4169: 4163: 4160:Water tariff cut 4157: 4151: 4145: 4139: 4133: 4127: 4121: 4115: 4114: 4078: 4072: 4071: 4062: 4056: 4055: 4045: 4015: 4009: 4008: 3996: 3990: 3989: 3968: 3962: 3961: 3959: 3948: 3938: 3932: 3931: 3929: 3927: 3908: 3902: 3901: 3899: 3897: 3883: 3877: 3876: 3865: 3859: 3856: 3850: 3849: 3847: 3845: 3828: 3822: 3818: 3812: 3811: 3809: 3807: 3796: 3790: 3789: 3787: 3785: 3770: 3764: 3763: 3761: 3759: 3742: 3736: 3733: 3727: 3724: 3718: 3715: 3709: 3706: 3700: 3699: 3663: 3654: 3653: 3636: 3630: 3629: 3627: 3616: 3610: 3608: 3599: 3590: 3589: 3561: 3548: 3547: 3545: 3521: 3515: 3514: 3508: 3500: 3498: 3496: 3490: 3484:. Archived from 3483: 3475: 3469: 3468: 3466: 3464: 3448: 3442: 3441: 3421: 3415: 3414: 3412: 3388: 3382: 3381: 3357: 3351: 3350: 3333:(486): C69–C76. 3324: 3315: 3309: 3303: 3297: 3296: 3264: 3258: 3257: 3215: 3206: 3197: 3196: 3194: 3192: 3177: 3171: 3170: 3168: 3166: 3152: 3146: 3145: 3143: 3141: 3126: 3120: 3119: 3111: 3105: 3104: 3096: 3087: 3086: 3066: 3055: 3054: 3043:10.1002/jid.1052 3037:(8): 1083–1098. 3022: 3011: 3010: 3008: 3006: 2996: 2990:Allen, Grahame. 2987: 2981: 2980: 2962: 2956: 2955: 2939: 2929: 2923: 2916: 2910: 2908: 2901: 2892: 2891: 2873: 2864: 2863: 2845: 2836: 2830: 2824: 2821: 2815: 2812: 2803: 2796: 2787: 2786: 2760: 2699: 2695: 2686: 2685: 2657: 2651: 2650: 2634: 2624: 2618: 2617: 2607: 2597: 2573: 2560: 2557: 2084:Design–bid–build 2028: 2024: 1820:State department 1810:and through the 1765:Participants of 1728:Accounting firms 1582:Dulles Toll Road 1514:After a wave of 1359:Transfer of risk 1194:auditors general 674:sovereign states 615: 608: 601: 585: 584: 573: 572: 561: 560: 485:Alberto Fujimori 480:Hernando de Soto 450:Augusto Pinochet 425:Ludwig von Mises 185:Supranationalism 85:Economic freedom 38: 37: 21: 5558: 5557: 5553: 5552: 5551: 5549: 5548: 5547: 5508: 5507: 5506: 5501: 5454: 5448: 5423:Partnerships UK 5418:Partnerships BC 5392: 5354: 5321: 5297:Venture capital 5245: 5240: 5137: 5136: 5132: 5110: 5092:Monbiot, George 5042: 5001: 4939: 4883: 4881:Further reading 4878: 4862: 4858: 4857: 4853: 4841: 4835: 4834: 4830: 4818: 4814: 4804: 4802: 4792: 4788: 4779: 4775: 4765: 4763: 4755: 4754: 4750: 4742: 4735: 4731: 4730: 4726: 4714: 4712: 4703: 4702: 4674: 4670: 4655: 4641: 4637: 4629: 4625: 4606: 4602: 4593: 4589: 4582: 4568: 4564: 4557: 4543: 4539: 4532: 4518: 4514: 4509:Wayback Machine 4499: 4488: 4478: 4476: 4467: 4466: 4462: 4450: 4446: 4438: 4430: 4426: 4395: 4391: 4381: 4379: 4369: 4365: 4353: 4351: 4342: 4341: 4333: 4329: 4317: 4313: 4312: 4308: 4263: 4259: 4249: 4247: 4240: 4236: 4226: 4224: 4214: 4210: 4197: 4196: 4192: 4182: 4180: 4171: 4170: 4166: 4158: 4154: 4146: 4142: 4134: 4130: 4122: 4118: 4079: 4075: 4063: 4059: 4016: 4012: 3997: 3993: 3987: 3969: 3965: 3957: 3946: 3940: 3939: 3935: 3925: 3923: 3910: 3909: 3905: 3895: 3893: 3885: 3884: 3880: 3866: 3862: 3857: 3853: 3843: 3841: 3830: 3829: 3825: 3819: 3815: 3805: 3803: 3798: 3797: 3793: 3783: 3781: 3772: 3771: 3767: 3757: 3755: 3743: 3739: 3734: 3730: 3725: 3721: 3716: 3712: 3707: 3703: 3664: 3657: 3650: 3638: 3637: 3633: 3625: 3617: 3613: 3606: 3604:Extreme poverty 3600: 3593: 3562: 3551: 3522: 3518: 3502: 3501: 3494: 3492: 3488: 3481: 3479:"Archived copy" 3477: 3476: 3472: 3462: 3460: 3449: 3445: 3422: 3418: 3389: 3385: 3358: 3354: 3322: 3316: 3312: 3304: 3300: 3265: 3261: 3213: 3207: 3200: 3190: 3188: 3187:. 28 March 2021 3179: 3178: 3174: 3164: 3162: 3154: 3153: 3149: 3139: 3137: 3127: 3123: 3112: 3108: 3099:Alberto Lemma. 3097: 3090: 3067: 3058: 3023: 3014: 3004: 3002: 3001:. UK Government 2994: 2988: 2984: 2977: 2963: 2959: 2952: 2930: 2926: 2917: 2913: 2903: 2902: 2895: 2874: 2867: 2860: 2846: 2839: 2831: 2827: 2822: 2818: 2813: 2806: 2797: 2790: 2775: 2761: 2702: 2696: 2689: 2682: 2658: 2654: 2647: 2625: 2621: 2574: 2563: 2558: 2549: 2545: 2493: 2473:pay for success 2466: 2446: 2429: 2413: 2397:essential drugs 2378: 2361: 2353: 2338:Private sector 2325:Private sector 2309:Private sector 2293:Private sector 2287:Private sector 2268:Private sector 2247:Private sector 2228:Private sector 2209:Private sector 2190:Private sector 2169:Private sector 2163:Private sector 2144:Private sector 2125:Private sector 2119:Private sector 2098:Private sector 2092:Private sector 2071:Private sector 2040:Project design 2006:Public services 1962:operate (DBFMO) 1950:maintain (DBFM) 1838: 1832: 1830:Delivery models 1800: 1759: 1730: 1714: 1706: 1677: 1675:Forestry sector 1653:health services 1630: 1628:Health services 1574: 1564:, which held a 1504: 1499: 1470: 1396:risk management 1361: 1291:value for money 1278: 1276:Value for money 1214: 1178: 1169: 1149: 1140: 1112: 1092:AustralianSuper 1080: 1066:(debt holder). 1042: 1005: 989:confidentiality 985:economic growth 962:Partnerships UK 894:introduced the 816: 801:contracting out 780: 730: 647:private capital 619: 579: 567: 555: 548: 547: 508:Anti-capitalism 503: 495: 494: 440:Milton Friedman 430:Walter Lippmann 420:Friedrich Hayek 415: 407: 406: 377: 369: 368: 329:Federal Reserve 304: 296: 295: 246: 238: 237: 208:Austrian School 203: 195: 194: 165:School vouchers 70:Balanced budget 60: 43:politics series 28: 23: 22: 15: 12: 11: 5: 5556: 5546: 5545: 5540: 5535: 5530: 5525: 5520: 5503: 5502: 5500: 5499: 5494: 5489: 5484: 5479: 5474: 5469: 5464: 5458: 5456: 5453:International 5450: 5449: 5447: 5446: 5441: 5435: 5430: 5425: 5420: 5415: 5409: 5402: 5400: 5394: 5393: 5391: 5390: 5385: 5380: 5378:United Kingdom 5375: 5370: 5364: 5362: 5356: 5355: 5353: 5352: 5347: 5342: 5337: 5331: 5329: 5323: 5322: 5320: 5319: 5314: 5309: 5304: 5299: 5294: 5289: 5287:Social Finance 5284: 5279: 5277:Private equity 5274: 5269: 5264: 5259: 5253: 5251: 5247: 5246: 5239: 5238: 5231: 5224: 5216: 5210: 5209: 5206: 5203: 5200: 5197: 5194: 5153: 5150: 5130: 5117: 5114: 5108: 5088: 5081: 5078: 5075: 5055:(3): 442–474. 5031: 5028: 5024: 4994: 4984: 4980: 4977: 4974: 4971: 4963: 4956: 4943: 4937: 4924: 4903: 4900: 4897: 4894: 4891: 4882: 4879: 4877: 4876: 4873:. August 2009. 4851: 4846:Social Finance 4828: 4812: 4786: 4773: 4748: 4724: 4715:|journal= 4668: 4653: 4635: 4633:, wisegeek.com 4623: 4600: 4587: 4580: 4562: 4555: 4537: 4530: 4512: 4486: 4475:. 12 July 2016 4460: 4444: 4424: 4405:(3): 343–362. 4389: 4363: 4354:|journal= 4327: 4306: 4257: 4234: 4208: 4190: 4164: 4152: 4140: 4128: 4116: 4089:(3): 352–374. 4073: 4057: 4010: 3991: 3985: 3963: 3933: 3903: 3878: 3860: 3851: 3823: 3813: 3791: 3765: 3737: 3728: 3719: 3710: 3701: 3674:(3): 258–268. 3655: 3648: 3631: 3611: 3591: 3572:(3): 286–299. 3549: 3536:(6): 906–928. 3516: 3470: 3459:. Toronto Star 3443: 3416: 3383: 3372:(3): 432–450. 3352: 3310: 3298: 3259: 3224:(1): 146–154. 3218:Health Affairs 3198: 3172: 3147: 3121: 3106: 3088: 3077:(3): 479–495. 3056: 3012: 2982: 2975: 2957: 2950: 2924: 2911: 2893: 2865: 2858: 2837: 2825: 2816: 2804: 2788: 2773: 2700: 2687: 2680: 2652: 2645: 2619: 2561: 2546: 2544: 2541: 2540: 2539: 2534: 2529: 2524: 2519: 2514: 2509: 2504: 2499: 2492: 2489: 2477:Social Finance 2465: 2462: 2445: 2442: 2428: 2425: 2412: 2409: 2389:United Nations 2377: 2374: 2360: 2357: 2352: 2349: 2346: 2345: 2342: 2341:Public sector 2339: 2336: 2330: 2329: 2326: 2323: 2322:Public sector 2320: 2314: 2313: 2310: 2307: 2306:Public sector 2304: 2298: 2297: 2294: 2291: 2290:Public sector 2288: 2285: 2284:Public sector 2282: 2276: 2275: 2272: 2271:Public sector 2269: 2266: 2265:Public sector 2263: 2255: 2254: 2251: 2250:Public sector 2248: 2245: 2242: 2236: 2235: 2232: 2231:Public sector 2229: 2226: 2225:Public sector 2223: 2217: 2216: 2213: 2212:Public sector 2210: 2207: 2206:Public sector 2204: 2198: 2197: 2194: 2193:Public sector 2191: 2188: 2187:Public sector 2185: 2177: 2176: 2173: 2172:Public sector 2170: 2167: 2166:Public sector 2164: 2161: 2160:Public sector 2158: 2152: 2151: 2148: 2147:Public sector 2145: 2142: 2141:Public sector 2139: 2133: 2132: 2129: 2128:Public sector 2126: 2123: 2122:Public sector 2120: 2117: 2116:Public sector 2114: 2106: 2105: 2102: 2101:Public sector 2099: 2096: 2095:Public sector 2093: 2090: 2089:Public sector 2087: 2079: 2078: 2075: 2074:Public sector 2072: 2069: 2068:Public sector 2066: 2060: 2059: 2056: 2053: 2050: 2047: 2044: 2041: 2038: 2035: 2032: 2023: 2022: 1998: 1994: 1993: 1989: 1985: 1984: 1983:constructions. 1980: 1976: 1975: 1963: 1955: 1954: 1951: 1935: 1934: 1919: 1915: 1914: 1911:payback period 1907:residual value 1899: 1895: 1894: 1890: 1886: 1885: 1875: 1874:transfer (BOT) 1863: 1862: 1858: 1850: 1849: 1845: 1831: 1828: 1799: 1796: 1783:United Nations 1758: 1755: 1729: 1726: 1713: 1710: 1705: 1702: 1676: 1673: 1629: 1626: 1584:concession in 1573: 1572:Transportation 1570: 1503: 1502:Water services 1500: 1498: 1495: 1474:accountability 1469: 1466: 1360: 1357: 1340:National Party 1322:or one of the 1277: 1274: 1258: 1257: 1251: 1245: 1213: 1210: 1177: 1174: 1168: 1165: 1148: 1145: 1139: 1136: 1120:infrastructure 1118:, like in the 1111: 1108: 1079: 1076: 1041: 1038: 1004: 1001: 908:City of London 892:United Kingdom 886:government of 873:infrastructure 842:first railroad 815: 812: 779: 776: 729: 726: 722:accountability 678:tax collection 659:infrastructure 643:private sector 621: 620: 618: 617: 610: 603: 595: 592: 591: 590: 589: 577: 565: 550: 549: 546: 545: 540: 535: 530: 525: 520: 515: 510: 504: 502:Related topics 501: 500: 497: 496: 493: 492: 487: 482: 477: 475:Alan Greenspan 472: 467: 462: 457: 452: 447: 442: 437: 432: 427: 422: 416: 413: 412: 409: 408: 405: 404: 399: 394: 389: 384: 378: 375: 374: 371: 370: 367: 366: 361: 356: 351: 346: 341: 336: 331: 326: 324:European Union 321: 316: 311: 305: 302: 301: 298: 297: 294: 293: 288: 283: 278: 273: 268: 263: 258: 253: 247: 244: 243: 240: 239: 236: 235: 230: 225: 220: 215: 213:Chicago School 210: 204: 201: 200: 197: 196: 193: 192: 187: 182: 177: 172: 167: 162: 157: 152: 147: 145:Market economy 142: 137: 132: 127: 122: 112: 107: 102: 97: 92: 87: 82: 77: 72: 67: 61: 58: 57: 54: 53: 47: 46: 26: 9: 6: 4: 3: 2: 5555: 5544: 5541: 5539: 5538:Privatization 5536: 5534: 5531: 5529: 5526: 5524: 5521: 5519: 5516: 5515: 5513: 5498: 5495: 5493: 5490: 5488: 5485: 5483: 5480: 5478: 5475: 5473: 5470: 5468: 5465: 5463: 5460: 5459: 5457: 5451: 5445: 5442: 5439: 5436: 5434: 5431: 5429: 5426: 5424: 5421: 5419: 5416: 5413: 5410: 5407: 5404: 5403: 5401: 5399: 5395: 5389: 5386: 5384: 5383:United States 5381: 5379: 5376: 5374: 5371: 5369: 5366: 5365: 5363: 5361: 5357: 5351: 5348: 5346: 5343: 5341: 5338: 5336: 5333: 5332: 5330: 5328: 5324: 5318: 5317:Neoliberalism 5315: 5313: 5312:Risk transfer 5310: 5308: 5305: 5303: 5300: 5298: 5295: 5293: 5290: 5288: 5285: 5283: 5282:Privatization 5280: 5278: 5275: 5273: 5270: 5268: 5265: 5263: 5260: 5258: 5255: 5254: 5252: 5248: 5244: 5237: 5232: 5230: 5225: 5223: 5218: 5217: 5214: 5207: 5204: 5201: 5198: 5195: 5191: 5187: 5183: 5179: 5175: 5171: 5167: 5163: 5159: 5154: 5151: 5147: 5141: 5133: 5127: 5124:. Barcelona. 5123: 5118: 5115: 5111: 5105: 5101: 5097: 5093: 5089: 5086: 5082: 5079: 5076: 5071: 5066: 5062: 5058: 5054: 5050: 5049: 5041: 5037: 5032: 5029: 5025: 5021: 5017: 5013: 5009: 5008: 5000: 4995: 4992: 4989: 4985: 4981: 4978: 4975: 4972: 4970: 4967: 4964: 4961: 4957: 4953: 4950:(in French). 4949: 4944: 4940: 4934: 4930: 4925: 4921: 4917: 4913: 4909: 4904: 4901: 4898: 4895: 4892: 4889: 4885: 4884: 4872: 4868: 4861: 4855: 4847: 4840: 4839: 4832: 4825: 4822:(ADB). 1991. 4821: 4816: 4801: 4797: 4790: 4783: 4777: 4762: 4758: 4752: 4741: 4734: 4728: 4720: 4707: 4698: 4693: 4688: 4683: 4679: 4672: 4664: 4660: 4656: 4650: 4646: 4639: 4632: 4627: 4619: 4615: 4611: 4604: 4597: 4591: 4583: 4577: 4573: 4566: 4558: 4552: 4548: 4541: 4533: 4527: 4523: 4516: 4510: 4506: 4503: 4497: 4495: 4493: 4491: 4474: 4470: 4464: 4457: 4454: 4448: 4437: 4436: 4428: 4420: 4416: 4412: 4408: 4404: 4400: 4393: 4378: 4374: 4367: 4359: 4346: 4338: 4331: 4323: 4316: 4310: 4302: 4298: 4293: 4288: 4284: 4280: 4276: 4272: 4268: 4261: 4245: 4238: 4223: 4219: 4212: 4204: 4200: 4194: 4178: 4174: 4168: 4161: 4156: 4149: 4144: 4137: 4132: 4125: 4120: 4112: 4108: 4104: 4100: 4096: 4092: 4088: 4084: 4077: 4070: 4069: 4061: 4053: 4049: 4044: 4039: 4035: 4031: 4027: 4023: 4022: 4014: 4006: 4002: 3995: 3988: 3986:1-84467-539-4 3982: 3979:, p. 3, 3978: 3974: 3967: 3956: 3952: 3945: 3944: 3937: 3921: 3917: 3913: 3907: 3892: 3891:UK Parliament 3888: 3882: 3875: 3871: 3864: 3855: 3840:. 1 June 2009 3839: 3838: 3833: 3827: 3817: 3801: 3795: 3779: 3775: 3769: 3754: 3753: 3748: 3741: 3732: 3723: 3714: 3705: 3697: 3693: 3689: 3685: 3681: 3677: 3673: 3669: 3662: 3660: 3651: 3645: 3641: 3635: 3624: 3623: 3615: 3605: 3602: 3598: 3596: 3587: 3583: 3579: 3575: 3571: 3567: 3560: 3558: 3556: 3554: 3544: 3539: 3535: 3531: 3527: 3520: 3512: 3506: 3487: 3480: 3474: 3458: 3454: 3447: 3439: 3435: 3431: 3427: 3420: 3411: 3406: 3402: 3398: 3394: 3387: 3379: 3375: 3371: 3367: 3363: 3356: 3348: 3344: 3340: 3336: 3332: 3328: 3321: 3314: 3307: 3302: 3294: 3290: 3286: 3282: 3278: 3274: 3270: 3263: 3255: 3251: 3247: 3243: 3239: 3238:10044/1/15645 3235: 3231: 3227: 3223: 3219: 3212: 3205: 3203: 3186: 3182: 3176: 3161: 3157: 3151: 3136: 3132: 3125: 3117: 3110: 3102: 3095: 3093: 3084: 3080: 3076: 3072: 3065: 3063: 3061: 3052: 3048: 3044: 3040: 3036: 3032: 3028: 3021: 3019: 3017: 3000: 2993: 2986: 2978: 2972: 2968: 2961: 2953: 2947: 2943: 2938: 2937: 2928: 2921: 2915: 2906: 2900: 2898: 2889: 2885: 2884: 2879: 2872: 2870: 2861: 2855: 2851: 2844: 2842: 2835: 2829: 2820: 2811: 2809: 2801: 2795: 2793: 2784: 2780: 2776: 2770: 2766: 2759: 2757: 2755: 2753: 2751: 2749: 2747: 2745: 2743: 2741: 2739: 2737: 2735: 2733: 2731: 2729: 2727: 2725: 2723: 2721: 2719: 2717: 2715: 2713: 2711: 2709: 2707: 2705: 2694: 2692: 2683: 2681:9781315693279 2677: 2673: 2669: 2665: 2664: 2656: 2648: 2646:9780415252256 2642: 2638: 2633: 2632: 2623: 2615: 2611: 2606: 2605:10044/1/13799 2601: 2596: 2591: 2587: 2583: 2579: 2572: 2570: 2568: 2566: 2556: 2554: 2552: 2547: 2538: 2535: 2533: 2530: 2528: 2525: 2523: 2520: 2518: 2515: 2513: 2510: 2508: 2505: 2503: 2500: 2498: 2497:Privatization 2495: 2494: 2488: 2486: 2482: 2478: 2474: 2471:(also called 2470: 2461: 2459: 2455: 2451: 2441: 2439: 2435: 2424: 2422: 2418: 2408: 2406: 2402: 2398: 2394: 2390: 2386: 2382: 2373: 2371: 2366: 2356: 2343: 2340: 2335: 2332: 2331: 2327: 2319: 2316: 2315: 2311: 2303: 2300: 2299: 2295: 2289: 2281: 2278: 2277: 2273: 2270: 2262: 2261: 2257: 2256: 2252: 2249: 2241: 2238: 2237: 2233: 2222: 2221:Build–finance 2219: 2218: 2214: 2211: 2203: 2200: 2199: 2195: 2184: 2183: 2179: 2178: 2174: 2171: 2168: 2165: 2157: 2154: 2153: 2149: 2138: 2135: 2134: 2130: 2124: 2121: 2118: 2113: 2112: 2108: 2107: 2103: 2097: 2094: 2091: 2086: 2085: 2081: 2080: 2076: 2070: 2065: 2062: 2061: 2057: 2054: 2051: 2048: 2046:Construction 2045: 2042: 2039: 2036: 2033: 2030: 2029: 2020: 2016: 2011: 2007: 2003: 1999: 1996: 1995: 1990: 1987: 1986: 1981: 1978: 1977: 1973: 1969: 1964: 1961: 1957: 1956: 1952: 1949: 1945: 1941: 1937: 1936: 1932: 1928: 1924: 1923:project owner 1920: 1917: 1916: 1912: 1908: 1904: 1900: 1897: 1896: 1891: 1888: 1887: 1883: 1882:concessionary 1879: 1876: 1873: 1869: 1865: 1864: 1859: 1856: 1852: 1851: 1846: 1843: 1842: 1841: 1837: 1827: 1825: 1821: 1818:in 2019. The 1817: 1813: 1809: 1805: 1795: 1793: 1788: 1784: 1780: 1772: 1768: 1763: 1754: 1751: 1747: 1743: 1739: 1735: 1725: 1723: 1718: 1709: 1701: 1699: 1694: 1690: 1686: 1682: 1672: 1670: 1666: 1661: 1657: 1654: 1649: 1647: 1639: 1634: 1625: 1623: 1619: 1615: 1611: 1610:New Brunswick 1607: 1603: 1599: 1594: 1587: 1583: 1578: 1569: 1567: 1563: 1559: 1555: 1551: 1550:North America 1546: 1544: 1540: 1535: 1533: 1529: 1528:water tariffs 1525: 1521: 1517: 1508: 1494: 1491: 1490:city managers 1486: 1483: 1479: 1475: 1465: 1462: 1461:New Brunswick 1458: 1454: 1447: 1442: 1439: 1433: 1430: 1423: 1420: 1415: 1413: 1409: 1405: 1404:joint venture 1401: 1397: 1389: 1384: 1380: 1377: 1376:UK Parliament 1372: 1370: 1366: 1356: 1354: 1349: 1344: 1341: 1337: 1333: 1328: 1325: 1321: 1316: 1313: 1309: 1305: 1299: 1294: 1292: 1282: 1273: 1271: 1266: 1264: 1255: 1252: 1249: 1246: 1243: 1239: 1236: 1235: 1234: 1227: 1223: 1218: 1212:Project costs 1209: 1207: 1201: 1197: 1195: 1191: 1186: 1184: 1173: 1164: 1160: 1158: 1154: 1144: 1135: 1133: 1129: 1125: 1121: 1117: 1107: 1105: 1101: 1097: 1093: 1089: 1085: 1075: 1071: 1067: 1064: 1060: 1051: 1046: 1037: 1035: 1031: 1027: 1023: 1019: 1015: 1011: 1000: 998: 994: 990: 986: 982: 978: 974: 969: 967: 963: 959: 955: 950: 948: 944: 940: 937:and short on 936: 932: 923: 919: 917: 913: 909: 905: 901: 897: 893: 889: 885: 882:In 1992, the 880: 878: 874: 870: 866: 862: 858: 853: 851: 847: 846:electric grid 843: 839: 835: 831: 827: 820: 811: 809: 804: 802: 797: 796:privatization 793: 784: 775: 772: 771: 765: 761: 758: 753: 751: 750:globalization 747: 738: 734: 725: 723: 719: 714: 713:privatization 710: 705: 703: 699: 695: 691: 690:public sector 687: 683: 679: 675: 671: 667: 662: 660: 656: 652: 648: 644: 640: 636: 632: 628: 616: 611: 609: 604: 602: 597: 596: 594: 593: 588: 583: 578: 576: 571: 566: 564: 559: 554: 553: 552: 551: 544: 541: 539: 536: 534: 531: 529: 526: 524: 521: 519: 516: 514: 511: 509: 506: 505: 499: 498: 491: 488: 486: 483: 481: 478: 476: 473: 471: 470:Roger Douglas 468: 466: 463: 461: 460:Ronald Reagan 458: 456: 453: 451: 448: 446: 443: 441: 438: 436: 435:Louis Rougier 433: 431: 428: 426: 423: 421: 418: 417: 411: 410: 403: 400: 398: 395: 393: 390: 388: 385: 383: 380: 379: 376:Organizations 373: 372: 365: 362: 360: 357: 355: 352: 350: 347: 345: 342: 340: 337: 335: 332: 330: 327: 325: 322: 320: 317: 315: 312: 310: 307: 306: 300: 299: 292: 289: 287: 284: 282: 279: 277: 274: 272: 271:New Democrats 269: 267: 264: 262: 259: 257: 254: 252: 249: 248: 242: 241: 234: 231: 229: 226: 224: 221: 219: 216: 214: 211: 209: 206: 205: 199: 198: 191: 188: 186: 183: 181: 178: 176: 175:Single market 173: 171: 170:Shock therapy 168: 166: 163: 161: 158: 156: 155:Privatization 153: 151: 148: 146: 143: 141: 140:Marketization 138: 136: 133: 131: 128: 126: 125:Globalization 123: 120: 116: 113: 111: 108: 106: 103: 101: 98: 96: 93: 91: 88: 86: 83: 81: 78: 76: 73: 71: 68: 66: 63: 62: 56: 55: 52: 51:Neoliberalism 49: 48: 44: 40: 39: 32: 19: 5440:(Bangladesh) 5408:(Bangladesh) 5292:Sponsorships 5257:Crowdfunding 5165: 5161: 5121: 5095: 5052: 5046: 5011: 5005: 4990: 4987: 4959: 4951: 4947: 4928: 4911: 4887: 4854: 4848:. July 2016. 4837: 4831: 4823: 4815: 4803:. Retrieved 4799: 4789: 4776: 4764:. Retrieved 4760: 4751: 4740:the original 4727: 4706:cite journal 4671: 4644: 4638: 4626: 4613: 4603: 4590: 4571: 4565: 4546: 4540: 4521: 4515: 4477:. Retrieved 4472: 4463: 4455: 4447: 4434: 4427: 4402: 4398: 4392: 4380:. Retrieved 4376: 4366: 4345:cite journal 4330: 4321: 4309: 4277:(2): 51–55. 4274: 4270: 4260: 4248:. Retrieved 4237: 4225:. Retrieved 4221: 4211: 4202: 4193: 4181:. Retrieved 4176: 4167: 4155: 4143: 4131: 4119: 4086: 4082: 4076: 4068:The Guardian 4066: 4060: 4025: 4019: 4013: 4005:The Guardian 4004: 3994: 3972: 3966: 3955:the original 3942: 3936: 3924:. Retrieved 3915: 3906: 3894:. Retrieved 3890: 3881: 3873: 3863: 3854: 3842:. Retrieved 3835: 3826: 3816: 3806:30 September 3804:. Retrieved 3794: 3782:. Retrieved 3777: 3768: 3756:. Retrieved 3750: 3740: 3731: 3722: 3713: 3704: 3671: 3667: 3639: 3634: 3621: 3614: 3569: 3565: 3533: 3529: 3519: 3493:. Retrieved 3486:the original 3473: 3461:. 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1992:hospitals. 1968:toll roads 1779:World Bank 1685:government 1620:, and the 1532:World Bank 1412:John Laing 1308:Australian 1153:monopolies 1128:tax breaks 1110:Government 1084:cash flows 1014:bank loans 997:World Bank 954:Tony Blair 935:neoliberal 888:John Major 877:accounting 869:investment 861:neoliberal 832:utilized " 728:Definition 718:innovation 359:World Bank 303:Governance 256:Fujimorism 218:Monetarism 115:Free trade 5398:PPP units 5190:143932122 5140:cite book 5100:Macmillan 5027:Canberra. 5014:: 56–74. 4920:0034-7639 4663:952801311 4419:1754-7121 4250:6 October 4111:153619884 4103:0300-3930 3784:10 August 3696:143156657 3688:1446-1242 3586:153603588 3432:(4): 39. 3347:1468-0297 3293:207472262 3191:16 August 3051:0954-1748 2783:952801311 2405:diarrhoea 2387:like the 2064:Bid–build 1861:measures. 1712:PPP units 1598:toll road 1369:appraised 1018:toll road 966:PPP units 651:taxpayers 402:Third Way 266:Third Way 245:Movements 202:Economics 65:Austerity 5094:(2000). 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