Public-private Partnerships: A Solution for Infrastructure Development in the UK? Case Study of the London Underground Public-private Partnership Project

Margarita Khoteeva and Daria Khoteeva
Additional contact information
Margarita Khoteeva: Department of Philosophy, National Research Nuclear University (MEPhI), Kashirskoe Shosse, 31, Moscow, 115409, Russia
Daria Khoteeva: Department of Philosophy, National Research Nuclear University (MEPhI), Kashirskoe Shosse, 31, Moscow, 115409, Russia.

International Review of Management and Marketing, 2017, vol. 7, issue 1, 300-308

Abstract: The article examines the role of public-private partnerships (PPPs) in infrastructure development in the UK through the analysis of the London Underground PPP project implemented in 1997-2008. The study is based on the theory analysis of the development of the concept of PPPs in the UK in the recent decades and the factual and statistical information regarding the events that led to the failure of the London Underground PPP project. The study is motivated by the question why the London Underground PPP project resulted as unsuccessful and if the reasons of failure can be attributed to other PPP infrastructure projects. The findings of the study illustrate the reasons for the failure of the London Underground PPP project and the lessons learned from it. The failure of the PPP project came from the combination of factors, such as poor conditions of infrastructure, lack of financial and risk management systems, poor corporate governance of the private sector company, public sector’s inability to manage the contract, and a tied supply chain. The findings have shown that the question of whether such failure can occur in other infrastructure development PPP project still remains open and needs to be closely assessed in each case.

Keywords: Public-private Partnerships; Infrastructure; Transport (search for similar items in EconPapers)
JEL-codes: H1 H7 R4 (search for similar items in EconPapers)
Date: 2017
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.econjournals.com/index.php/irmm/article/download/3090/pdf (application/pdf)
http://www.econjournals.com/index.php/irmm/article/view/3090/pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ3:2017-01-40

Access Statistics for this article

International Review of Management and Marketing is currently edited by Ilhan Ozturk

More articles in International Review of Management and Marketing from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().