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What triggers public-private partnership (PPP) renegotiations in the United States?

Authors :
Gifford, Jonathan L.
Bolaños, Lisardo A.
Daito, Nobuhiko
Casady, Carter B.
Source :
Public Management Review; Jun2024, Vol. 26 Issue 6, p1583-1609, 27p
Publication Year :
2024

Abstract

Public-private partnership (PPP) renegotiations and their outcomes have been studied extensively in Latin America and Europe but not in the United States. Therefore, this study evaluates factors triggering U.S. PPP renegotiations by examining six highway PPPs located in California (2), Indiana (1), and Virginia (3). The findings suggest exogenous macroeconomic shocks, project and political complexity, and institutional inexperience are the most compelling triggers behind U.S. PPP renegotiations. These findings also highlight America's distinct political and institutional environment – i.e. favourable to buy-outs as well as debt restructuring via bankruptcy – as a possible explanation for the absence of opportunism among U.S. PPP renegotiations. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
14719037
Volume :
26
Issue :
6
Database :
Complementary Index
Journal :
Public Management Review
Publication Type :
Academic Journal
Accession number :
177337794
Full Text :
https://doi.org/10.1080/14719037.2023.2200404