Title

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

Date of this Version

6-30-2014

Document Type

Journal Article

Publication Details

Citation only

Liu, J., Love, P., Carey, B., Smith, J., & Regan, M. (2014). Ex-ante evaluation of public-private partnerships: Macroeconomic analysis. Journal of Infrastructure Systems, 21(2), 04014038 (2015).

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© Copyright 2014 American Society of Civil Engineers

2014 HERDC submission

ISSN

1943-555X

Abstract

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.

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This document has been peer reviewed.