Determinants of PPP in infrastructure investments in MENA countries: a focus on energy

Giuseppe Di Liddo, Alessandro Rubino () and Ernesto Somma ()
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Ernesto Somma: Management and Business Law at Bari University

Economia e Politica Industriale: Journal of Industrial and Business Economics, 2019, vol. 46, issue 4, No 4, 523-580

Abstract: Abstract Good infrastructures are key to guarantee sustained economic growth and inclusive development. However, fiscal and budget constraints are likely to restraint public investment in infrastructure. For these reasons, public–private partnerships (PPPs) are increasingly playing a crucial role in infrastructures deployment at global level. However, the factors affecting PPP attraction are still understudied. In particular, it is notable that some regions are persistently underperforming in terms of PPP investments. This study aims to identify the impact that non-financial factors, such as governance and regulatory quality, play in PPP investments in the MENA region. We analysed the impact of regulatory quality in infrastructure investment and we show that regulatory quality is the most relevant governance indicator to explain the level of PPP investments. Its impact is particularly strong in the energy sector, and in politically instable environments such as the MENA countries.

Keywords: Public–private partnership; Energy; Institutional quality; Regulation (search for similar items in EconPapers)
JEL-codes: H11 H57 L24 O47 P48 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s40812-019-00129-7

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