Renegotiating public-private partnerships
نویسندگان
چکیده
Public-Private Partnerships (PPPs) are frequently renegotiated as their contracts long-term, often with a duration exceeding 30 years, involve major investments, and necessary incomplete. Still, while contract incompleteness is difficult to prevent, renegotiation frequency does not decline in spite of decades experience. Electoral cycles political connections lead strategic behaviour by both the public sector, intending please electorate, private entity, taking advantage fact that government cannot afford disruption services prior elections. The bargaining power held mainly firms/corporate consortiums who extract additional rents compensate for underbidding at initial bidding rounds. When consortium dominated foreign firm, negotiations higher but extraction from renegotiations lower, reflecting lower degree connectedness. Experience PPP projects reduce likelihood subsequent renegotiations. In recommendations supervisor (the Court Audit), sector has implemented improvements design clauses contracts.
منابع مشابه
Finance and Public-Private Partnerships
A PPP bundles investment and service provision of infrastructure into a single long-term contract. A group of private investors finances and manages the construction of the project, then maintains and operates the facilities for a long period of usually 20 to 30 years, and at the end of the contract transfers the assets to the government. During the operation of the project, the private partner...
متن کاملPublic-private partnerships: an overview.
The development and marketing of medicines needed specifically to combat diseases of the developing world are commercially unattractive because the populations concerned are among the poorest on earth. Partnerships which bring together pharmaceutical companies, academics, not-for-profit organizations, philanthropists, governmental and inter-governmental agencies are an increasingly popular solu...
متن کامل2.1.3. Global Public-Private Partnerships
We amply dealt with the history and evolution of partnerships, which culminated in the setting up of Global Public Private Partnerships (GPPPs) focusing on health programmes, in the first report of the Osservatorio Italiano sulla Salute Globale1 (Italan Global Health Watch) in 2004. Some authors have argued that the GPPP phenomenon is linked to structural changes, and destined to consolidate it...
متن کاملPublic-private partnerships for hospitals.
While some forms of public-private partnerships are a feature of hospital construction and operation in all countries with mixed economies, there is increasing interest in a model in which a public authority contracts with a private company to design, build and operate an entire hospital. Drawing on the experience of countries such as Australia, Spain, and the United Kingdom, this paper reviews...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Multinational Financial Management
سال: 2021
ISSN: ['1042-444X', '1873-1309']
DOI: https://doi.org/10.1016/j.mulfin.2020.100661