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INFRASTRUCTURE INVESTMENT – THE EMERGENT PPP EQUITY MARKET
Author(s) -
WHITFIELD Dexter,
SMYTH Stewart
Publication year - 2019
Publication title -
annals of public and cooperative economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.526
H-Index - 37
eISSN - 1467-8292
pISSN - 1370-4788
DOI - 10.1111/apce.12234
Subject(s) - equity (law) , club deal , scope (computer science) , private equity fund , private equity firm , private equity , business , equity capital markets , private equity secondary market , investment (military) , finance , economics , political science , politics , computer science , law , programming language
Increasingly governments are looking to private sector actors to invest in infrastructure projects. An emergent mechanism for such investment is the market in PPP equity. This is an aspect of PPPs that has to date had little empirical attention. This paper reports on the size and scope of the market in PPP equity sales within the UK. In the process, the nature of PPP projects and the existing rationales for the policy are critiqued. The paper concludes by laying out a number of potential research agendas focused on PPP equity sales including a call for reassessing theoretical perspectives.