Principles of public‐private partnership financing – Polish experience

Anna Wojewnik‐Filipkowska and Dariusz Trojanowski

Journal of Property Investment & Finance, 2013, vol. 31, issue 4, 329-344

Abstract: Purpose - Public‐private partnerships (PPP) are contractual relationships influenced by different legal traditions. The main purpose of the paper is to provide insight into the principles of PPP financing and the impact of two legal provisions in Poland. Design/methodology/approach - Appropriate regulation and documentation were investigated. Discounted subsidies, internal rate of return (IRR), economic internal rate of return (EIRR) were calculated and risk was analysed for three variants of a selected case study. Findings - The two PPP‐related legal provisions are well‐suited for cooperation, although they do not generally correlate. Partnership is just one of the available modes of cooperation; therefore, a complete financial and economic analysis should be performed to prove value for money. Research limitations/implications - The paper was limited to one case study in three variants. Additional cases can be studied to confirm the findings and increase the usefulness of the methodological framework and improve its application. Practical implications - The interrelation of the two PPP‐related legal provisions is useful for public managers searching for partners and private investors looking for opportunities. Since the proposed framework supports assessing investment advantages from the perspective of the two provisions, it supports decision makers. The experience of the Polish market also may support development of public‐private partnerships in other countries. Originality/value - The two PPP‐related legal provisions are compared to determine which provides the optimal method for management of PPPs. Studying both successful and abandoned projects can help towards better management and understanding of PPPs. The work is novel providing insights into PPP financing from a legal perspective and addressed financial consequences.

Keywords: Public‐private partnership; Private finance; Infrastructure; Poland (search for similar items in EconPapers)
Date: 2013
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (text/html)
https://www.emerald.com/insight/content/doi/10.110 ... d&utm_campaign=repec (application/pdf)
Access to full text is restricted to subscribers

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:eme:jpifpp:v:31:y:2013:i:4:p:329-344

DOI: 10.1108/JPIF-10-2012-0049

Access Statistics for this article

Journal of Property Investment & Finance is currently edited by Nick French

More articles in Journal of Property Investment & Finance from Emerald Group Publishing Limited
Bibliographic data for series maintained by Emerald Support ().