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Do contract characteristics impact on private investment in public-private partnerships? Evidence from China

Wang etalHuanming Wang, Bin Chen, Wei Xiong and Guangdong Wu

Over the past three decades, many developed and developing countries have witnessed the increasing provision of public goods and services through private firms. With the New Public Management movement, state monopolies in many infrastructure sectors have been relaxed and privatization has been utilized as an alternative way of delivering public services. Private-capital investment has been allowed to build, operate and maintain components of the infrastructure through various types of cooperation between the public and private sectors. As a result, public-private partnerships (PPPs) have become a prominent part of the local government landscape. Advocates have emphasized the advantages of private investment in PPP infrastructure projects: enhanced efficiency, cost savings, improved effectiveness, better quality of services, and reduced government overheads.

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