Publicação
Infrastructure Public-Private Partnerships : Risk factors and agents' participation
| Resumo: | Infrastructure investments are essential to achieve economic prosperity, promoting growth and enhancing well-being. Any infrastructure project is a long-term and complex project, par¬ticularly due to the specific nature of the assets and because it involves numerous stakeholders with different interests and objectives. In such conditions, uncertainty and risks are emphasized. Financing infrastructure is particularly challenging given the amount of funds required that are mostly sunk costs. An attractive mechanism, in the governments' perspective, is to use Public Private Partnerships (PPP) and Project Finance techniques. Multilateral Development Banks (MDB) assume an important role on the raise of funds. Besides their primary lending function, another relevant role emerges - risk reduction. Public entities encourage private sector involvement in infrastructure particularly through PPP. These partnerships are used to reduce the infrastructure gap and accelerating the delivery of public assets and services with clear advantages over traditional methods of procurement. Theoretically, economic reasons may be presented supporting PPP. Portugal has a long history using PPP but there are very few papers on the field. In this dissertation, the Portuguese experience is presented with a focus on five projects. In addition, a model to access the relative operational performance of the SCUT concessions is developed using Data Envelopment Analysis. PPP are particularly relevant to developing and emerging countries where the less stable environment emphasizes risks. Different country's risk factors affect PPP arrangements, condi¬tioning the investments intensity and the participation of the private agents, as well as, of MDB. To explore these issues, an empirical analysis is performed using PPP data from 1990-2007. The results indicate the dominance of the economic conditions and of the legal framework, to ex¬plain the agents' participation in PPP and, MDB' participation is higher for riskier countries, confirming the mechanism of risk reduction. |
|---|---|
| Autores principais: | Basílio, Maria do Sacramento Bombaça |
| Assunto: | Public-Private Partnerships Infrastructure Risk Developing countries |
| Ano: | 2011 |
| País: | Portugal |
| Tipo de documento: | tese de doutoramento |
| Tipo de acesso: | acesso aberto |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1865920797066919936 |
|---|---|
| author | Basílio, Maria do Sacramento Bombaça |
| author_facet | Basílio, Maria do Sacramento Bombaça Basílio, Maria do Sacramento Bombaça |
| author_role | author |
| contributor_name_str_mv | Gaspar, Raquel M. Proença, Isabel Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_str | [{\"Person.name\":\"Basílio, Maria do Sacramento Bombaça\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Gaspar, Raquel M. Proença, Isabel Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Basílio, Maria do Sacramento Bombaça |
| datacite.date.Accepted.fl_str_mv | 2011-12-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2012-04-19T11:12:39Z |
| datacite.date.embargoed.fl_str_mv | 2012-04-19T11:12:39Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| datacite.subjects.subject.fl_str_mv | Public-Private Partnerships Infrastructure Risk Developing countries |
| datacite.titles.title.fl_str_mv | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| dc.contributor.none.fl_str_mv | Gaspar, Raquel M. Proença, Isabel Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Basílio, Maria do Sacramento Bombaça |
| dc.date.Accepted.fl_str_mv | 2011-12-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2012-04-19T11:12:39Z |
| dc.date.embargoed.fl_str_mv | 2012-04-19T11:12:39Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/4246 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_abf2 |
| dc.subject.none.fl_str_mv | Public-Private Partnerships Infrastructure Risk Developing countries |
| dc.title.fl_str_mv | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_db06 |
| description | Infrastructure investments are essential to achieve economic prosperity, promoting growth and enhancing well-being. Any infrastructure project is a long-term and complex project, par¬ticularly due to the specific nature of the assets and because it involves numerous stakeholders with different interests and objectives. In such conditions, uncertainty and risks are emphasized. Financing infrastructure is particularly challenging given the amount of funds required that are mostly sunk costs. An attractive mechanism, in the governments' perspective, is to use Public Private Partnerships (PPP) and Project Finance techniques. Multilateral Development Banks (MDB) assume an important role on the raise of funds. Besides their primary lending function, another relevant role emerges - risk reduction. Public entities encourage private sector involvement in infrastructure particularly through PPP. These partnerships are used to reduce the infrastructure gap and accelerating the delivery of public assets and services with clear advantages over traditional methods of procurement. Theoretically, economic reasons may be presented supporting PPP. Portugal has a long history using PPP but there are very few papers on the field. In this dissertation, the Portuguese experience is presented with a focus on five projects. In addition, a model to access the relative operational performance of the SCUT concessions is developed using Data Envelopment Analysis. PPP are particularly relevant to developing and emerging countries where the less stable environment emphasizes risks. Different country's risk factors affect PPP arrangements, condi¬tioning the investments intensity and the participation of the private agents, as well as, of MDB. To explore these issues, an empirical analysis is performed using PPP data from 1990-2007. The results indicate the dominance of the economic conditions and of the legal framework, to ex¬plain the agents' participation in PPP and, MDB' participation is higher for riskier countries, confirming the mechanism of risk reduction. |
| dirty | 0 |
| eu_rights_str_mv | openAccess |
| format | doctoralThesis |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/7181a3c6-b1a5-4897-8aeb-c62a017095ea/download |
| id | ul_5d2bc0f0205aa69d7eb8092bb2e0dca8 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/4246 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/4246 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Basílio, Maria do Sacramento Bombaça |
| publishDate | 2011 |
| publisher.none.fl_str_mv | Instituto Superior de Economia e Gestão |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engInstituto Superior de Economia e GestãoporInfrastructure investments are essential to achieve economic prosperity, promoting growth and enhancing well-being. Any infrastructure project is a long-term and complex project, par¬ticularly due to the specific nature of the assets and because it involves numerous stakeholders with different interests and objectives. In such conditions, uncertainty and risks are emphasized. Financing infrastructure is particularly challenging given the amount of funds required that are mostly sunk costs. An attractive mechanism, in the governments' perspective, is to use Public Private Partnerships (PPP) and Project Finance techniques. Multilateral Development Banks (MDB) assume an important role on the raise of funds. Besides their primary lending function, another relevant role emerges - risk reduction. Public entities encourage private sector involvement in infrastructure particularly through PPP. These partnerships are used to reduce the infrastructure gap and accelerating the delivery of public assets and services with clear advantages over traditional methods of procurement. Theoretically, economic reasons may be presented supporting PPP. Portugal has a long history using PPP but there are very few papers on the field. In this dissertation, the Portuguese experience is presented with a focus on five projects. In addition, a model to access the relative operational performance of the SCUT concessions is developed using Data Envelopment Analysis. PPP are particularly relevant to developing and emerging countries where the less stable environment emphasizes risks. Different country's risk factors affect PPP arrangements, condi¬tioning the investments intensity and the participation of the private agents, as well as, of MDB. To explore these issues, an empirical analysis is performed using PPP data from 1990-2007. The results indicate the dominance of the economic conditions and of the legal framework, to ex¬plain the agents' participation in PPP and, MDB' participation is higher for riskier countries, confirming the mechanism of risk reduction.application/pdfporInfrastructure Public-Private Partnerships : Risk factors and agents' participationBasílio, Maria do Sacramento BombaçaGaspar, Raquel M.Proença, IsabelHostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.ptURNurn:tid:1012663402012-04-19T11:12:39Z2011-122011-12-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/4246http://purl.org/coar/access_right/c_abf2open accessPublic-Private PartnershipsInfrastructureRiskDeveloping countries1445132 bytesliteraturehttp://purl.org/coar/resource_type/c_db06doctoral thesishttp://purl.org/coar/access_right/c_abf2application/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/7181a3c6-b1a5-4897-8aeb-c62a017095ea/download |
| spellingShingle | Infrastructure Public-Private Partnerships : Risk factors and agents' participation Infrastructure Public-Private Partnerships : Risk factors and agents' participation Basílio, Maria do Sacramento Bombaça Public-Private Partnerships Infrastructure Risk Developing countries Basílio, Maria do Sacramento Bombaça Public-Private Partnerships Infrastructure Risk Developing countries |
| status | SINGLETON |
| subject.fl_str_mv | Public-Private Partnerships Infrastructure Risk Developing countries |
| title | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| title_full | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| title_fullStr | Infrastructure Public-Private Partnerships : Risk factors and agents' participation Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| title_full_unstemmed | Infrastructure Public-Private Partnerships : Risk factors and agents' participation Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| title_short | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| title_sort | Infrastructure Public-Private Partnerships : Risk factors and agents' participation |
| topic | Public-Private Partnerships Infrastructure Risk Developing countries |
| topic_facet | Public-Private Partnerships Infrastructure Risk Developing countries |
| url | http://hdl.handle.net/10400.5/4246 |
| visible | 1 |