The use of Public-Private Partnerships (PPPs) to realize and operate public infrastructures is often associated with fiscal-circumventing motivations. Using data at the municipal level, this paper investigates whether budget-constrained public authorities adopt PPPs in order to hide public debt. The results show that financial difficulties often lead to a preference for PPPs instead of traditional forms of public procurement, but this behavior is not explained by the possibility of debt-hiding. Explanations for these findings are discussed.
Buso, M., Marty, F., Tran Tra, P., Public-private partnerships from budget constraints: Looking for debt hiding?, <<INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION>>, 2017; 2017/51 (March): 56-84. [doi:10.1016/j.ijindorg.2016.12.002] [http://hdl.handle.net/10807/151294]
Public-private partnerships from budget constraints: Looking for debt hiding?
Buso, Marco
;
2017
Abstract
The use of Public-Private Partnerships (PPPs) to realize and operate public infrastructures is often associated with fiscal-circumventing motivations. Using data at the municipal level, this paper investigates whether budget-constrained public authorities adopt PPPs in order to hide public debt. The results show that financial difficulties often lead to a preference for PPPs instead of traditional forms of public procurement, but this behavior is not explained by the possibility of debt-hiding. Explanations for these findings are discussed.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.