Critical Success Factors for Sustainable Public-Private Partnership (PPP) in Transition Conditions: An Empirical Study in Bosnia and Herzegovina

Goran Amović, Rado Maksimović and Sonja Bunčić
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Goran Amović: Department of Industrial Engineering and Management, Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Rado Maksimović: Department of Industrial Engineering and Management, Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Sonja Bunčić: Department of Industrial Engineering and Management, Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia

Sustainability, 2020, vol. 12, issue 17, 1-29

Abstract: In the initial stages of the adoption and institutionalization of Public-Private Partnerships (PPPs), national governments of transitional economies have accepted, developed, and organized Public-Private Partnerships with varying degrees of success. This study aims to investigate the critical success factors (CSFs) influencing the establishment of a sustainable Public-Private Partnership in transition conditions. In the first part of the paper, based on an extensive review of the literature, previous studies and relevant results in this field are presented as a background for this research. In the second part of this article, the survey used a factor analysis, which, with the application of the Principal Component Analysis and Varimax method with Kaiser normalization, has extracted four CSFs: (1) the establishment of a central PPP unit—knowledge center; (2) the establishment of a compatible legal/regulatory framework; (3) development of national PPP policies and strategies; and (4) standardization and transparency of the process. In the concluding remarks, the authors address the perspectives and methodological research constraints, examining possibilities to develop new knowledge and more efficient Public-Private Partnership implementation in the developing PPP markets of transitional economies.

Keywords: public private partnership; sustainability; public sector; infrastructure; development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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