Using Public-private Partnerships to Carry Out Highway Projects PDF Download

Author: Alan Van der Hilst
Publisher:
ISBN:
Category : Federal aid to transportation
Languages : en
Pages : 32

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Book Description
Some observers assert that an alternative approach, using a public-private partnership, could increase the money available for highway projects and complete the work more quickly or at a lower cost than is possible through the traditional method. Specifically, such a partnership could secure financing for a project through private sources that might require more accountability and could assign greater responsibility to private firms for carrying out the work. For example, a private business might take on the responsibility for specific tasks, such as operations and maintenance, and their accompanying risks. In this study, the Congressional Budget Office (CBO) finds that private financing will increase the availability of funds for highway construction only in cases in which states or localities have chosen to restrict their spending by imposing legal constraints or budgetary limits on themselves.

Author: Manal Fouad
Publisher: International Monetary Fund
ISBN: 1513576569
Category : Business & Economics
Languages : en
Pages : 61

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Book Description
Investment in infrastructure can be a driving force of the economic recovery in the aftermath of the COVID-19 pandemic in the context of shrinking fiscal space. Public-private partnerships (PPP) bring a promise of efficiency when carefully designed and managed, to avoid creating unnecessary fiscal risks. But fiscal illusions prevent an understanding the sources of fiscal risks, which arise in all infrastructure projects, and that in PPPs present specific characteristics that need to be addressed. PPP contracts are also affected by implicit fiscal risks when they are poorly designed, particularly when a government signs a PPP contract for a project with no financial sustainability. This paper reviews the advantages and inconveniences of PPPs, discusses the fiscal illusions affecting them, identifies a diversity of fiscal risks, and presents the essentials of PPP fiscal risk management.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: United States. Congress. House. Committee on Transportation and Infrastructure. Panel on Public-Private Partnerships
Publisher:
ISBN:
Category : Infrastructure (Economics)
Languages : en
Pages : 200

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Author: United States. Congress. House. Committee on Transportation and Infrastructure. Subcommittee on Highways and Transit
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 368

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Book Description

Author: Tony Wall
Publisher: Routledge
ISBN: 1136681639
Category : Business & Economics
Languages : en
Pages : 146

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Book Description
Broadly, a Public-Private Partnership (or PPP) is any collaboration between the public and private sector, but research in the UK has tended to focus on those that have been used for major infrastructure projects, such as roads, schools, and hospitals. This book compares and contrasts PPP research in the UK with that of cases in the USA, including interviews with some of the key stakeholders (decision makers in the public sector, contractors, and users) of PPPs in North America, and observations of PPPs in action (such as schools and roads). No prior major studies have compared the UK and USA when it comes to the development and operation of PPPs, and this book fills a gap in the literature, addressing a number of key questions, including: Is the private sector viewed with less suspicion in the USA when it comes to projects that would normally fall under the aegis of the public sector? How do politics affect PPPs? How do key players in the PPP process define project success, determine the merits and drawbacks of the initiative, and deal with controversial elements of the scheme such as value for money and risk transfer? The result is a volume that offers practical advice for the future development of PPPs in the UK.

Author: Simon Hakim
Publisher: Springer Nature
ISBN: 3031046285
Category : Law
Languages : en
Pages : 328

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Book Description
​Second in a two-volume set, this book discusses the role of public-private partnerships (PPPs) in global transportation infrastructure, specifically focusing on roads, bridges, and parking. To provide vital services in an era of shrinking government budgets, public-private partnerships have become an increasingly important part of travel infrastructure worldwide. This book describes and analyses the structure of various models of PPPs in several countries, evaluating their effectiveness, and drawing policy implications for future use. The chapters were written by leading international researchers and practitioners in the transportation field where each chapter is a case study on the adoption, implementation, and outcome of transportation services. Taken together, these diverse case studies provide an integrated framework for evaluating, using PPPs, and suggesting policy implications to both the public and the private sectors in transportation. Providing rigorous empirical analysis of PPPs in transportation, this volume will be of interest to researchers in public administration, political science, public choice, and economics as well as practitioners and policymakers involved in establishing and monitoring PPPs in transportation.

Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 43

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Author: Leslie R. Kellerman
Publisher: Nova Science Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 168

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Book Description
Growing demands on the transportation system and constraints on public resources have led to calls for more private sector involvement in the provision of highway and transit infrastructure through what are known as "public-private partnerships" (PPPs). A PPP, broadly defined, is any arrangement whereby the private sector assumes more responsibility than is traditional for infrastructure planning, financing, design, construction, operation, and maintenance. This book describes the wide variety of public-private partnerships in highways and transit, but focuses on the two types of highway PPPs that are generating the most debate: the leasing by the public sector to the private sector of existing infrastructure; and the building, leasing, and owning of new infrastructure by private entities. PPP proponents argue that, in addition to being the best hope for injecting additional resources into the surface freight and passenger transportation systems for upkeep and expansion, private sector involvement potentially reduces costs, project delivery time, and public sector risk, and may also improve project selection and project quality. Detractors, on the other hand, argue that the potential for PPPs is limited, and that, unless carefully regulated, PPPs will disrupt the operation of the surface transportation network, increase driving and other costs for the travelling public, and subvert the public planning process. Some of the specific issues raised in highway operation and costs include the effects of PPPs on trucking, low-income households, and traffic diversion. Issues raised in transportation planning include non-compete provisions in PPP agreements, unsolicited proposals, lease duration, and foreign control of transportation assets. On the question of new resources, the evidence suggests that there is significant private funding available for investment in surface transportation infrastructure, but that it is unlikely to amount to more than 10% of the ongoing needs of highways over the next 20 years or so, if that, and probably a much smaller share of transit needs. With competing demands for public funds, there is also a concern that private funding will substitute for public resources with no net gain in transportation infrastructure. The effect of PPPs on the planning and operation of the transportation system is a more open question because of the numerous forms they can take, and because they are dependent on the detailed agreements negotiated between the public and private partners. For this reason, some have suggested that the federal government needs to more systematically identify and evaluate the public interest, particularly the national public interest, in projects that employ a PPP. Three broad policy options Congress might consider in how to deal with PPPs in federal transportation programs and regulations are discussed in this book. The first option is to continue with the current policy of incremental changes and experimentation in program incentives and regulation. Second is to actively encourage PPPs with program incentives, but with relatively tight regulatory controls. Third is to aggressively encourage the use of PPPs through program incentives and limited, if any, regulation.

Author: Kumar V. Pratap
Publisher: Springer
ISBN: 9811033552
Category : Business & Economics
Languages : en
Pages : 404

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Book Description
The book provides readers with a clear understanding of infrastructure challenges, how Public‐Private Partnerships (PPP) can help, and their use in practice. Infrastructure bottlenecks are generally considered the most important constraint to growth in many countries worldwide. Historically, infrastructure projects have been financed and implemented by the state. However, owing to the fiscal resource crunch, time and cost over‐runs, and the general poor quality of publicly provided infrastructure, many emerging market governments, including India, have increasingly adopted PPPs with billions of dollars of investment riding on them. The results have been varied – from spectacular airports like the Delhi International Airport Limited with the associated controversy over land use, to the renegotiation of contracts as in the case of Tata Mundra Ultra Mega Power Project. Illustrating concepts with relevant case studies, the book makes the challenges of PPPs understandable to industry and management practitioners as well as students of management, public policy and economics. It is useful to practitioners wishing to avoid the pitfalls in the tricky terrain of PPPs and policymakers wanting guidance in crafting proper incentives. It also helps students gain a holistic and “applied” understanding of this increasingly important and popular model. “Public Private Partnerships (PPPs) in India are currently under stress. A comprehensive treatment of the subject by a long-time and erudite practitioner and a management academic, this book should be useful to students trying to learn the basics, while also being valuable to professionals and policy makers. The book suggests that the Government should hold bidders accountable to their submitted bids, thereby preserving sanctity of contract. This will discourage aggressive bidding which has become a serious and endemic problem. The book also suggests the use of better bidding criteria to mitigate traffic risk in transport projects. Policy makers should pay heed to these suggestions as they consider improvements in the PPP policy regime going forward.”—Arvind Subramanian, Chief Economic Adviser, India/div “For a fast-growing India, infrastructure creation and operation is a great challenge and opportunity. This excellent book combines theory and practice on PPPs, and is very useful for professionals and students alike. With case studies and current developments, the authors bring out issues in India with global experiences as well. A must-read for infrastructure practitioners.”—Shailesh Pathak, Chief Executive (Designate), L&T Infrastructure Development Projects Limited “India’s program of private participation in infrastructure attracted worldwide attention as it became one of the largest programs in emerging markets. As well as the volumes of finance mobilized, it garnered interest because of some of the innovative approaches developed, such as Viability Gap Funding. The Indian PPP story is well captured in this book, which also makes the point that India is seeing project cancellations and failures rise. The authors analyze the factors behind this and point the way to a more robust PPP market that learns from the experiences of the past.”—Clive Harris, Practice Manager, Public-Private Partnerships, World Bank/div