 Regulation in the implementation of public–private partnershipsKenneth Button Chapter 3 in The Elgar Companion to Transport Infrastructure Projects, 2026, pp 24-45 from Edward Elgar Publishing Abstract: This chapter examines the historical evolution, theoretical justification, and critical perspectives on public–private partnerships (PPPs) in infrastructure provision. It begins by tracing the conceptual and institutional development of PPPs, highlighting their roots in risk-sharing arrangements and performance-based service delivery. The rationale for adopting PPP models is analyzed through the lenses of fiscal constraint, efficiency gains, and innovation incentives. The chapter further addresses the principal criticisms of PPPs, including issues related to complexity, accountability, renegotiation risk, and long-term fiscal impact. Drawing on both academic literature and policy experience, the authors explore the diversity of PPP frameworks and the conditions under which they may – or may not – deliver expected outcomes. By unpacking the trade-offs inherent in PPP arrangements, the chapter contributes to a more balanced understanding of their potential and limitations, providing a conceptual foundation for evaluating PPPs across different contexts and stages of project development. Keywords: Public; Private partnerships; Infrastructure delivery; Regulation; Risk allocation; Contract governance (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:20156_3 Ordering information: This item can be ordered from Access Statistics for this chapter More chapters in Chapters from Edward Elgar Publishing |
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