Public-Private Partnerships in the New EU Member States

Public-private partnerships (PPPs) operate at the boundary of the public and private sectors, being neither fully public nor fully private. PPPs are defined in this paper as privately financed infrastructure projects in which a private firm either:...

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Bibliographic Details
Main Authors:	Budina, Nina, Polackova Brixi, Hana, Irwin, Timothy
Format:	Publication
Language:	English en_US
Published:	Washington, DC: World Bank 2012
Subjects:	ACCOUNTABILITY ACCOUNTABILITY STRUCTURES ACCOUNTING ACCOUNTING PRINCIPLES ACCOUNTING STANDARD ACCOUNTING STANDARDS ACCRUAL ACCOUNTING ADEQUATE DISCLOSURE ARREARS ASSET-BACKED SECURITIES AUDITING AUDITS BALANCE SHEET BALANCE SHEETS BANKS BENEFICIARIES BENEFICIARY BORROWING COSTS BUDGET CONSTRAINT BUDGET CONSTRAINTS BUDGET DEFICIT BUDGET DEFICITS BUDGETARY FRAMEWORK BUDGETING CAPACITY BUILDING CASH ACCOUNTING CASH FLOWS CASH PAYMENTS CATASTROPHE BOND CATASTROPHE BONDS CENTRAL BANK CENTRAL GOVERNMENT CONTROL CENTRAL GOVERNMENTS COMMODITY PRICE CONTINGENT LIABILITIES CONTINGENT LIABILITY CONTRACT DESIGNS COST OF CAPITAL COUPON COUPON BOND CREDIT GUARANTEES CREDIT LINES CREDIT RATING CREDIT RATING AGENCIES CREDITORS CURRENCY CURRENCY DEPRECIATION DEBT DEBT CONTROLS DEBT FINANCING DEBT INSTRUMENTS DEBT MANAGEMENT DEBT MANAGEMENT AGENCIES DEBTORS DEBTS DEFICITS DERIVATIVES DERIVATIVES MARKET DEVELOPMENT BANK DOMESTIC BOND DOMESTIC BOND MARKET DOMESTIC FINANCIAL MARKETS ECONOMIC EFFICIENCY ECONOMIC GROWTH EIB ELECTRICITY ENFORCEMENT MECHANISM EXCESS DEMAND EXCHANGE RATE EXPENDITURE EXPENDITURES EXTRABUDGETARY FUNDS FACE VALUE FINANCES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INCENTIVES FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL STATEMENT FINANCIAL STATEMENTS FINANCIAL SUPPORT FISCAL CONSTRAINT FISCAL DEFICIT FISCAL DISCIPLINE FISCAL PERFORMANCE FISCAL POLICY FISCAL REFORMS FOREIGN EXCHANGE FUTURES GOVERNMENT ASSETS GOVERNMENT BORROWING GOVERNMENT BUDGET GOVERNMENT BUDGETING GOVERNMENT CAPACITY GOVERNMENT DEBT GOVERNMENT DEFICIT GOVERNMENT EXPENDITURE GOVERNMENT FINANCE GOVERNMENT GUARANTEE GOVERNMENT GUARANTEES GOVERNMENT INVOLVEMENT GOVERNMENT REVENUES GOVERNMENT SUPPORT GUARANTEE FEE GUARANTEE FEES GUARANTEE FUNDS HARD BUDGET CONSTRAINTS IMPLICIT GUARANTEES INDEBTEDNESS INFRASTRUCTURE DEVELOPMENT INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INSTITUTIONAL CAPACITY INSURANCE INTEREST PAYMENTS INTEREST RATE INTEREST RATES INTERGOVERNMENTAL FISCAL RELATIONS INTERNAL AUDIT INTERNATIONAL BANK INTERNATIONAL FINANCIAL INSTITUTIONS INTERNATIONAL STANDARDS INVESTING INVESTMENT BANK INVESTMENT CLIMATE INVESTMENT PROJECTS INVESTMENT REQUIREMENTS INVESTOR PROTECTION ISSUANCE LAWS LEGAL ENVIRONMENT LEGAL FRAMEWORK LEGISLATION LENDERS LIABILITY LIABILITY MANAGEMENT LICENSES LOAN LOAN GUARANTEE LOAN GUARANTEES LOCAL GOVERNMENT LOCAL GOVERNMENT BORROWING LOCAL GOVERNMENT GUARANTEES LOCAL GOVERNMENTS LOCAL MARKET LONG-TERM OBLIGATIONS MACROECONOMIC RISK MARKET DEVELOPMENT MARKET ECONOMIES MARKET VALUE MINISTRIES OF FINANCE MONETARY FINANCING MORAL HAZARD MUNICIPALITIES NATIONAL DEBT OPPORTUNITY COST OPPORTUNITY COSTS PENALTIES PORTFOLIO PORTFOLIO MANAGEMENT PORTFOLIOS PRESENT VALUE PRICE RISKS PRIVATE DEBT PRIVATE FINANCE PRIVATE FINANCING PRIVATE INVESTMENT PRIVATE INVESTMENTS PRIVATE INVESTORS PRIVATE PARTY PRIVATE SECTOR PROVISIONS PUBLIC PUBLIC DEBT PUBLIC ENTERPRISES PUBLIC EXPENDITURE PUBLIC FINANCE PUBLIC FINANCES PUBLIC INFRASTRUCTURE PUBLIC INVESTMENT PUBLIC SECTOR PUBLIC SERVICES PUBLIC UTILITIES PUBLICPRIVATE PARTNERSHIPS REGULAR PAYMENTS REPAYMENT RESOURCE ALLOCATION RETIREMENT RETURN RETURNS REVENUE GUARANTEES REVENUE MOBILIZATION RISK EXPOSURE RISK EXPOSURES RISK MANAGEMENT RISK TAKING ROADS SAVINGS SEWAGE SHAREHOLDERS SHORT MATURITIES SOLVENCY STATE GUARANTEE STATE GUARANTEES SUBSIDIARY SWAPS TAX TAX REVENUE TAX REVENUES TELECOMMUNICATIONS TRANSPARENCY TRANSPORT TREASURY USER CHARGES VALUATION WATER SUPPLY
Online Access:	http://documents.worldbank.org/curated/en/2007/06/8187734/public-private-partnerships-new-eu-member-states http://hdl.handle.net/10986/6743

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Summary:	Public-private partnerships (PPPs) operate at the boundary of the public and private sectors, being neither fully public nor fully private. PPPs are defined in this paper as privately financed infrastructure projects in which a private firm either: (i) sells its services to the government; or (ii) sells its services to third parties with significant fiscal support in the form of guarantees. Despite these common elements of PPPs across sectors, there are differences in the type of arrangements that are typical in each sector. This study focuses on whether and when using PPPs can create fiscal space for additional infrastructure investments in the EU8. In doing so, the paper will examine the fiscal risks of PPPs and the role of fiscal institutions in this regard, including how these affect the use and design of PPPs and thus the potential for creating fiscal space while promoting investment in infrastructure. Chapter 2 distinguishes the illusory from the real fiscal effects of PPPs. Chapter 3 relates the extent to which PPPs reduce fiscal costs to the nature of fiscal institutions. Chapter 4 explains how fiscal institutions can be improved to encourage fiscal prudence in the use and design of PPPs. Chapter 5 concludes.

Public-Private Partnerships in the New EU Member States

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