Public–Private Partnerships

Yiyi Liu

Chapter 16 in The Unwinding of the Globalist Dream:EU, Russia and China, 2018, pp 263-286 from World Scientific Publishing Co. Pte. Ltd.

Abstract: It is commonly believed that multilateral disagreements are caused by conflicting participant preferences. This chapter shows that conflicts may arise when participants have the same goal. This may happen when the action of any individual participant is insufficient to assure that the common goal is efficiently achieved. This chapter explains why Public–Private Partnerships (PPPs) could be superior to traditional government owned and operated public service enterprises. The point is proven with an example where two government regulators working separately to achieve the same goal fail to jointly optimize, impairing contact efficiency. Losses of this sort can be avoided by a single authority with full decision-making power in principle, but it is shown more generally that the comparative merit of traditional and PPP public services depends heavily on particularities and context. PPP could help revitalize China’s flagging growth, but should be viewed as a panacea.

Keywords: Globalism; Globalization; Populism; European Union; Russia; China; Secular Economic Stagnation; Political Disintegration; Cold War; Economic Sanctions (search for similar items in EconPapers)
JEL-codes: F60 (search for similar items in EconPapers)
Date: 2018
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