Review of Successful Global Public-Private Partnerships: Extracting key Strategies for Effective U.S. Financial Collaborations

Bisola Beatrice Oguejiofor, Ngozi Samuel Uzougbo, Abosede Olusade Kolade, Ahmed Raji and Chibuike Daraojimba
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Bisola Beatrice Oguejiofor: Independent Researcher, Lagos, Nigeria
Ngozi Samuel Uzougbo: The Ohio State University, USA
Abosede Olusade Kolade: Department of Marketing and Bus., Texas A&M University, Commerce Texas, USA
Ahmed Raji: Greenlight Planet (Sun King Solar), Nigeria
Chibuike Daraojimba: Graduate School of Technology Management, University of Pretoria, South Africa

International Journal of Research and Scientific Innovation, 2023, vol. 10, issue 8, 312-331

Abstract: Public-Private Partnerships (PPPs) have emerged as vital mechanisms for driving economic and infrastructural growth, offering a collaborative model that leverages the strengths of both the public and private sectors. This paper delves into the intricacies of PPPs, focusing on their evolution, global trends, applications in the U.S. financial landscape, and future directions. The U.S. PPP landscape, characterized by its unique political, economic, and social context, is influenced by various factors including governance, performance management, and the evolving public sector needs. Drawing on international experiences, the paper highlights potential sectors in the U.S. ripe for PPPs, such as infrastructure development, urban infrastructures, and state investment banks, among others. The work underscores the significance of understanding and adapting successful global strategies to the U.S. context, emphasizing that insights from global PPP successes can inform and optimize domestic efforts. However, challenges specific to the U.S., such as political and regulatory barriers and public perception of PPPs, warrant careful consideration. Addressing these challenges requires a multifaceted approach, encompassing strengthened legal frameworks, active citizen participation, and the adoption of best practices from successful global PPP models. The paper anticipates a dynamic evolution of PPPs, influenced by technological advancements, socio-political changes, and emerging economic needs by forecasting future trends based on current global shifts. Recommendations are provided to bolster U.S. involvement, leadership, and innovation in this domain to position the U.S. as a global leader in PPPs. The paper culminates in emphasizing the transformative potential of PPPs in driving U.S. economic and infrastructural growth, while highlighting the paramount importance of a globally informed and adaptive approach to ensure the long-term success and sustainability of PPP initiatives.

Date: 2023
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