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.
- Sprache
-
Englisch
- Erschienen in
-
Series: SAFE Working Paper ; No. 295
- Klassifikation
-
Wirtschaft
Structure, Scope, and Performance of Government
National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock
Bankruptcy; Liquidation
- Thema
-
Public-Private Partnerships
Infrastructure
Financing Costs
Default
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Avdiu, Besart
Weichenrieder, Alfons J.
- Ereignis
-
Veröffentlichung
- (wer)
-
Leibniz Institute for Financial Research SAFE
- (wo)
-
Frankfurt a. M.
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Avdiu, Besart
- Weichenrieder, Alfons J.
- Leibniz Institute for Financial Research SAFE
Entstanden
- 2020
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