Public‐Private Partnerships: In Pursuit of Risk Sharing and Value for Money (Complete Edition ‐ ISBN 9264042792)
Abstract:The debate about how to achieve value for money in the delivery of government services is important and ongoing. Increasingly, public services are being produced, procured and delivered to citizens in a variety of ways. Public‐private partnerships are one option. These contractual arrangements between the government and a private partner have been an established practice in some countries for many years and have attracted growing attention in others.
This book highlights ten good practices, summarising what countries should consider before entering into public‐private partnerships (PPPs). These include affordability, value for money, budget scoring and accounting treatment, dealing with liabilities (contingent or explicit), and regulatory and institutional governance issues. The book also discusses the important questions of risk ‐ both financial and political ‐ and of how to measure the performance of a public‐private partnership to ensure its continued value to society. Drawing upon country examples within and outside the OECD area, this book will help governments and the public to come to grips with this complex mechanism and its impact on public finances as well as on the definition of the boundaries between the state and the market.
Document Type: Review Article
Publication date: 2008-05-01