The Impact of Public–Private Partnerships (PPPs) in Infrastructure, Health, and Education
Journal of Economic Literature
vol. 61,
no. 2, June 2023
(pp. 655-715)
Abstract
This paper summarizes what is known about the impact of public–private partnerships (PPPs) in the three sectors where they have been used intensively: infrastructure (energy, transport, water and sanitation, and telecommunications), education, and health. It lays out the main elements of economic theory relevant to analyzing the trade-off between PPPs and the public provision of complex projects. It places PPPs within a historical perspective. It reviews empirical evaluations of the effectiveness of PPPs and, whenever possible, the implications for social outcomes. Finally, it draws conclusions on cross-cutting issues that influence the efficiency of PPPs, from contract design and regulation to renegotiations and institutional issues. The paper straightens out and qualifies the record of existing evidence and signals some of the main areas and topics for future fruitful research.Citation
Fabre, Anaïs, and Stéphane Straub. 2023. "The Impact of Public–Private Partnerships (PPPs) in Infrastructure, Health, and Education." Journal of Economic Literature, 61 (2): 655-715. DOI: 10.1257/jel.20211607Additional Materials
JEL Classification
- D04 Microeconomic Policy: Formulation, Implementation, and Evaluation
- H54 National Government Expenditures and Related Policies: Infrastructures; Other Public Investment and Capital Stock
- I11 Analysis of Health Care Markets
- I21 Analysis of Education
- L33 Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out