Public Private Partnerships,the Levels of Public Investment and the New Member States |
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Authors: | Malcolm Sawyer |
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Institution: | (1) Economics Division, Leeds University Business School, The University of Leeds, Leeds, UK |
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Abstract: | Some of the features of public private partnerships (PPPs) are outlined. The arguments that PPPs provide additional investment
are critical examined, and the way in which the accounting treatment may influence the use of PPPs examined. The costs of
PPPs are compared with ‘conventional’ public investment and it is argued that PPPs are a relatively expensive way of undertaking
public investment. The idea that PPPs effectively transfer risk from government to private companies is assessed. Issues relating
to the nature of contracts under PPPs, the transactions costs and the implementation of the contracts, are briefly considered.
For the New Member States, it is suggested that national accounting rules and perceived constraints on budget deficits may
encourage the use of PPPs, even if that use is not warranted in terms of costs of public investment. |
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