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EVALUATING THE COSTS, QUALITY, AND VALUE FOR MONEY OF INFRASTRUCTURE PUBLIC‐PRIVATE PARTNERSHIPS: A SYSTEMATIC LITERATURE REVIEW
Author(s) -
HELBY PETERSEN Ole
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.12243
Subject(s) - procurement , value for money , business , public infrastructure , quality (philosophy) , private finance initiative , systematic review , finance , stock (firearms) , private sector , public economics , economics , marketing , engineering , philosophy , epistemology , mechanical engineering , medline , political science , law , economic growth
Public‒private partnerships (PPPs) are often promoted as a means to lower the costs and increase the quality and value for money (VfM) of public construction and infrastructure projects. While the increasing capital stock of PPPs warrants evaluation of their performance there has until now been limited systematic assessment of PPP versus conventional public procurement. This article contributes to the literature by presenting the findings of a systematic review of empirical peer‐reviewed studies comparing the costs, quality, and/or VfM of infrastructure PPP projects with conventional public procurement. The international literature suggests that PPPs are on average more costly and provide approximately similar VfM as conventional procurement. The number of empirical evaluations is limited, however, and evidence on the quality of infrastructure facilities is particularly scarce. While infrastructure PPPs continue to proliferate, systematic assessment of their performance is warranted to assist policy‐makers in choosing the procurement method that offers best value for taxpayers, users and society.