Public-private partnerships: pro-cyclical or counter-cyclical? an empirical study

Alcaraz Carrillo de Albornoz, V; Ke, Y; Molina Millán, J

Public-private partnerships: pro-cyclical or counter-cyclical? an empirical study

Alcaraz Carrillo de Albornoz, V Ke, Y

Molina Millán, J

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Publisher:: TAYLOR & FRANCIS LTD
Publication Type:: Journal Article
Citation:: International Journal of Construction Management, 2024, 24, (1), pp. 97-107
Issue Date:: 2024-01-01

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Field	Value	Language
dc.contributor.author	Alcaraz Carrillo de Albornoz, V
dc.contributor.author	Ke, Y https://orcid.org/0000-0003-3426-703X
dc.contributor.author	Molina Millán, J
dc.date.accessioned	2024-06-07T13:11:14Z
dc.date.available	2024-06-07T13:11:14Z
dc.date.issued	2024-01-01
dc.identifier.citation	International Journal of Construction Management, 2024, 24, (1), pp. 97-107
dc.identifier.issn	1562-3599
dc.identifier.issn	1562-3599
dc.identifier.uri	http://hdl.handle.net/10453/179457
dc.description.abstract	The use of public works programs to combat economic recessions is a recurring issue. In this paper we conducted an empirical analysis covering 160 countries (out of which 43 were retained) over 30 years, to determine to what extent it has been possible in the past to deploy PPPs as part of a wider countercyclical policy. The main criterion used in the analyses performed is the comparison between numbers and values of PPP projects reaching financial close during recessions and those outside a recession. The results are disappointing: only a handful of European countries have been successful. The only sensible approach, that works only in some developed nations, would be increasing the number of PPP projects while maintaining project size. This research contributes to the understanding of PPP adoption during economic recessions, sheds light on the different strategies of developed and developing countries, and emphasizes the challenges and opportunities associated with implementing countercyclical PPP policies. These insights can inform policymakers, practitioners, and researchers in their decision-making processes and contribute to the advancement of knowledge in the field of PPP project procurement and management.
dc.language	English
dc.publisher	TAYLOR & FRANCIS LTD
dc.relation.ispartof	International Journal of Construction Management
dc.relation.isbasedon	10.1080/15623599.2023.2245629
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.rights	This is an Accepted Manuscript of an article published by Taylor & Francis in Public-private partnerships: pro-cyclical or counter-cyclical? an empirical study on 23 Aug 2023, available online: https://doi.org/10.1080/15623599.2023.2245629
dc.subject	0905 Civil Engineering, 1202 Building, 1504 Commercial Services
dc.subject.classification	3302 Building
dc.subject.classification	3507 Strategy, management and organisational behaviour
dc.subject.classification	4005 Civil engineering
dc.title	Public-private partnerships: pro-cyclical or counter-cyclical? an empirical study
dc.type	Journal Article
utslib.citation.volume	24
utslib.for	0905 Civil Engineering
utslib.for	1202 Building
utslib.for	1504 Commercial Services
pubs.organisational-group	University of Technology Sydney
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	embargoed	*
utslib.copyright.embargo	2024-08-23T00:00:00+1000Z
dc.date.updated	2024-06-07T13:11:12Z
pubs.issue	1
pubs.publication-status	Published
pubs.volume	24
utslib.citation.issue	1

Abstract:

The use of public works programs to combat economic recessions is a recurring issue. In this paper we conducted an empirical analysis covering 160 countries (out of which 43 were retained) over 30 years, to determine to what extent it has been possible in the past to deploy PPPs as part of a wider countercyclical policy. The main criterion used in the analyses performed is the comparison between numbers and values of PPP projects reaching financial close during recessions and those outside a recession. The results are disappointing: only a handful of European countries have been successful. The only sensible approach, that works only in some developed nations, would be increasing the number of PPP projects while maintaining project size. This research contributes to the understanding of PPP adoption during economic recessions, sheds light on the different strategies of developed and developing countries, and emphasizes the challenges and opportunities associated with implementing countercyclical PPP policies. These insights can inform policymakers, practitioners, and researchers in their decision-making processes and contribute to the advancement of knowledge in the field of PPP project procurement and management.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/179457