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Ex-ante evaluation of public-private partnerships: Macroeconomic analysis

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Authors
Liu, J.
Love, Peter
Carey, B.
Smith, J.
Regan, M.
Date
2015
Type
Journal Article

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Liu, J. and Love, P. and Carey, B. and Smith, J. and Regan, M. 2015. Ex-ante evaluation of public-private partnerships: Macroeconomic analysis. Journal of Infrastructure Systems. 21 (2).
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Journal of Infrastructure Systems
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Department of Civil Engineering
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Abstract

© 2014 American Society of Civil Engineers. Public-private partnerships (PPPs) are currently a popular approach for governments to procure social and economic infrastructure. The macroeconomic environment plays a critical role and influences the factors that can lead to the successful delivery of a PPP project. Despite the importance of the macroeconomic environment, limited attention has been paid to ex-ante (that is, before the event, or forecast) evaluation. A review of the normative literature was undertaken, aiming to derive key performance indicators (KPIs) of PPP success. The KPIs were validated by using a vector error correction model. It is suggested that the developed KPIs can be used to evaluate the suitability of the macroeconomic conditions in which a PPP project will be implemented. These KPIs can provide governments and stakeholders with a platform to conduct an effective ex-ante evaluation of PPP projects that will be significant in policy and decision making.