Arbeitspapier
Financing Costs and the Efficiency of Public-Private Partnerships
The paper compares provision of public infrastructure via public-private partnerships (PPPs) with provision under government management. Due to soft budget constraints of government management, PPPs exert more effort and therefore have a cost advantage in building infrastructure. At the same time, hard budget constraints for PPPs introduce a bankruptcy risk and bankruptcy costs. Consequently, if bankruptcy costs are high, PPPs may be less efficient than public management, although this does not result from PPPs’ higher interest costs.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 8711
- Classification
-
Wirtschaft
Structure, Scope, and Performance of Government
National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock
Bankruptcy; Liquidation
- Subject
-
public-private partnerships
infrastructure
financing costs
default
- Event
-
Geistige Schöpfung
- (who)
-
Avdiu, Besart
Weichenrieder, Alfons
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and Ifo Institute (CESifo)
- (where)
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Munich
- (when)
-
2020
- Handle
- Last update
-
10.03.2025, 11:45 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Avdiu, Besart
- Weichenrieder, Alfons
- Center for Economic Studies and Ifo Institute (CESifo)
Time of origin
- 2020
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