| Description |
1 online resource (24 pages) |
| Series |
IMF working paper, 2227-8885 ; WP/09/177 |
|
IMF working paper ; WP/09/177.
|
| Contents |
I. Introduction; II. The development of PPPs; III. Risk sharing, asymmetry of information, and perception biases; A. Asymmetry of information; Tables; 1. A Basic Matrix for Risk-Sharing in PPPs; B. Perception Biases; IV. A principal-agent approach to PPPs; Figures; 1. Perception Biases; 2. The Principal-Agent Framework; V. PPP risks and a typology; 2. Typology of Risks in PPPs; VI. Conclusions; References |
| Summary |
There is a strong economic rationale for close cooperation between the public and private sectors. This has resulted in a significant increase in the demand for the provision of public services through instruments combining public and private money such as public-private partnerships (PPPs or P3s). We describe these arrangements and explore how they can be analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach in terms of identifying risks that are often overlooked before turning to the optimal risk-sharing between the public and private partners, in particular with respect to information asymmetries in risk perceptions. This allows us to propose a typology of the risks associated with PPPs, where both internal risks (the risks associated with the contract) and external risks (those associated with the project) are considered |
| Notes |
Title from PDF title page (viewed October 6, 2009) |
| Bibliography |
Includes bibliographical references |
| Notes |
"Offices in Europe." |
|
"August 2009." |
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Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 MiAaHDL |
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digitized 2011 HathiTrust Digital Library committed to preserve pda MiAaHDL |
| Subject |
Public-private sector cooperation.
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Infrastructure (Economics) -- Finance
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Risk.
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Risk management.
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Risk
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Risk Management
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risk management.
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Infrastructure (Economics) -- Finance
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Public-private sector cooperation
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Risk
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| Form |
Electronic book
|
| Author |
Leruth, Luc E., author.
|
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Prunier, Guillaume, author.
|
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International Monetary Fund.
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| ISBN |
9781451917505 |
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1451917503 |
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