Enforcing Public-Private Partnership Contract : How do Fiscal Institutions Matter? /
Public-private partnerships (PPPs) have increased rapidly in emerging and developing countries, creating both opportunities and fiscal challenges. One of the main challenges is that while governments have increased commitments in guarantees and direct subsidies to promote PPPs, contractual disputes...
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| Main Author: | |
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| Corporate Author: | |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
[Washington, D.C.] :
International Monetary Fund,
[2017]
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| Series: | IMF working paper ;
WP/17/243. |
| Subjects: | |
| Online Access: | CONNECT |
Table of Contents:
- Cover
- CONTENTS
- I. INTRODUCTION
- II. STYLIZED FACTS
- A. Global Trends in PPPs
- B. Country-level Determinants of Contractual Disputes
- C. Contract Design and Fiscal Institutions
- III. THEORETICAL FRAMEWORK
- A. Procurement
- B. Investment Decision
- C. Conditions for Outbreak of Disputes
- IV. DATA AND METHODOLOGY
- A. Data and Sample
- B. Hazard Estimation
- C. Bias Adjustment using the Propensity Score Matching
- V. EMPIRICAL RESULTS
- A. Determinants of Contract Selection
- B. Hazard Regression
- C. Robustness Checks in Alternative Specifications
- D. Role of Public Financial Management
- VI. CONCLUSIONS
- FIGURES
- 1. Overall Trend of PPP Investments
- 2. Evolution of Dispute Risk
- 3. Change in Government Financial Commitment
- 4. Sectoral Distribution of Each Instruments
- 5. Change in Hazard Ratio by Contract Types
- 6. Distribution of the Quality Scores on Fiscal Institutions
- TABLES
- 1. Determinants of Government's Financial Commitment
- 2. Parametric Hazard Regressions
- 3. Effect of the Quality of Fiscal Institutions
- References
- TECHNICAL ANNEX
- A. Country Groupings
- B. Map
- C. Summary Statistics
- D. Balancing Test of PSM
- E. Derivation of the Shadow Price
- F. Role of PPP Investment Management in case of Concessions.
