The role of properly structured public-private partnerships in promoting economic development

2014 ◽  
Vol 10 (2) ◽  
pp. 90-97
Author(s):  
Michael Busler
Keyword(s):  
Economic Development ◽  
Public Sector ◽  
Case Studies ◽  
Current Literature ◽  
Public Involvement ◽  
Private Investment ◽  
Developed Countries ◽  
Public Private Partnerships ◽  
Theory Approach ◽  
Content Type

Purpose – The purpose of this paper is to find the characteristics that determine the success of public-private partnerships (PPPs) in promoting economic development and specifically to determine the long- and short-term public involvement. Design/methodology/approach – A grounded theory approach is utilized, involving desk research and a review of the current literature, as well as examining case studies. This reduction in data collection was based on the availability of literature and case studies which can be assimilated to develop theoretically justifiable conclusions. Findings – In less-than-developed countries (LDC), the lack of private investment capital severely hinders economic development. In developed countries it is often high risk factors and very large capital investment that slows economic development. In both cases, an input from the public sector is needed. The findings suggest that government involvement should be time limited, so that to achieve long-term success, a public sector exit strategy should be formulated. The length of time for public sector involvement varies but is generally longer in the LDC. Research limitations/implications – While the current literature provides some conclusions regarding the effect of PPPs on economic development, there is a gap when examining the proper structure particularly for developing countries. Originality/value – While the current literature provides some conclusions regarding the effect of PPPs on economic development, there is a gap when examining the proper structure. This paper also provides some guidance for participants to determine the optimum length of time that public involvement is needed. Both academics and practitioners should find this to be valuable information.

Critical issues in corporate real estate

2006 ◽  
Vol 8 (3) ◽  
pp. 151-162 ◽  
Author(s):  
Thomas A. Musil
Keyword(s):  
Economic Development ◽  
Public Sector ◽  
Real Estate ◽  
Impact Analysis ◽  
Private Investment ◽  
Future Research ◽  
Content Type ◽  
The Public ◽  
Corporate Real Estate ◽  
Community Impacts

PurposeCommunity impacts resulting from corporate facility new development, expansion, renovation, merger, consolidation, closure and disposition activities are under greater scrutiny by public officials, citizen, and special interest groups. The paper reports public sector views on municipal structure, most desired industries, community advantages, use of cost benefit studies and the methods used to evaluate development impacts.Design/methodology/approachThe research presented is based on a national survey of US economic development officials and their methods for measuring project impacts and determining public costs and benefits associated with economic development projects.FindingsThe research found that the public sector emphasized community advantages that were abstract and hard to measure in response to the corporate need for hard data on facility and development costs. About 30 percent of the public administrators surveyed never or rarely used any measures to determine community impacts associated with facility development. The most common impact measures used were individual experience, public meetings, tax impacts, amount of private investment, and local planning goals. Infrastructure costs, environmental quality issues, traffic and public services were the most important cost areas.Research limitations/implicationsEvery corporate real estate project has unique characteristics and accordingly, community impacts vary. This research presents an overview of the analysis methods used or not used by public development officials. The corporate decision maker must learn to recognize needs and opportunities for additional data collection that will make a case for facility project support.Practical implicationsUnderstanding the public sector impact analysis perspective is important because it enables corporate real estate decision makers to understand key issues, frame and present projects to citizens, identify research gaps and negotiate greater subsidies, and fair terms in development and performance agreements.Originality/valueSurprisingly, very little research exists in this area. The survey data indicate limited use of impact measures and methods. Future research into this area should investigate why impact analysis measures are not extensively used and how standard measures could be used to evaluate social, environmental and economic impacts.

Leadership of change in South Africa public sector turnarounds

2018 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mampe Kumalo ◽  
Caren Brenda Scheepers
Keyword(s):  
South Africa ◽  
Public Sector ◽  
Current Literature ◽  
Organisational Change ◽  
Director General ◽  
Change Processes ◽  
Structured Interviews ◽  
Content Type ◽  
The Public ◽  
Financial Consequences

PurposeOrganisational decline has far-reaching, negative emotional and financial consequences for staff and customers, generating academic and practitioner interest in turnaround change processes. Despite numerous studies to identify the stages during turnarounds, the findings have been inconclusive. The purpose of this paper is to address the gap by defining these stages, or episodes. The characteristics of leaders affect the outcome of organisational change towards turnarounds. This paper focusses, therefore, on the leadership requirements during specific episodes, from the initial crisis to the full recovery phases.Design/methodology/approachA total of 11 semi-structured interviews were conducted with executives from the public sector in South Africa who went through or were going through turnaround change processes and 3 with experts consulting to these organisations.FindingsContrary to current literature in organisational change, this study found that, in these turnaround situations, leadership in the form of either an individual CEO or director general was preferable to shared leadership or leadership distributed throughout the organisation. This study found four critical episodes that occurred during all the public service turnarounds explored, and established that key leadership requirements differ across these episodes. The study shows how these requirements relate to the current literature on transactional, transformational and authentic leadership.Practical implicationsThe findings on the leadership requirements ultimately inform the selection and development of leaders tasked with high-risk turnaround change processes.Originality/valueFour episodes with corresponding leadership requirements were established in the particular context of public sector turnaround change processes.

scholarly journals Internationalisation at home for tourism training programmes: case studies from Vietnam

2018 ◽  
Vol 12 (1) ◽  
pp. 19-35
Author(s):  
Cam Thi Hong Khuong ◽  
Ly Thi Tran
Keyword(s):  
Case Studies ◽  
Ad Hoc ◽  
Developed Countries ◽  
Research Strategy ◽  
Tourism Industry ◽  
Global Competency ◽  
Content Type ◽  
Internationalisation At Home ◽  
English Speaking ◽  
Training Programmes

Purpose Tourism is one of the most notable features of the contemporary globalised world. The tourism industry is becoming increasingly vital to the economy of many developing and developed countries around the globe. The demand of the tourism industry has posed a challenge for tourism training providers to move towards a more responsive and internationalised curriculum to enhance work readiness for tourism graduates who are expected to work with an increased number of international tourists. The purpose of this paper is analyse whether and how internationalisation has been implemented in the tourism training programmes across six institutions in Vietnam. Design/methodology/approach The research deployed case studies as research strategy with interviews and document analysis as two instruments of data collection. Findings The major findings show that even though the tourism industry demands graduates to possess global competency, knowledge and skills, the curriculum does not prioritise the internationalisation dimensions and the faculty members are not facilitated to be internationally active in their roles. Overall, internationalisation is still fragmented and ad hoc in these institutions even though the private institutions in this research appear to be more responsive to the trend of internationalisation in education than their public counterparts. Research limitations/implications The paper provides recommendations on how to effectively embed internationalisation components into local tourism training programs in Vietnam. Originality/value The research bridges the gap in the literature on internationalisation of the local tourism programme in non-English-speaking countries.

scholarly journals Public Sector Finances as Determinants of Private Investment in PPP Projects – Experiences from Select Countries

2019 ◽  
pp. 1-17
Author(s):  
Satinder Bhatia
Keyword(s):  
Developing Countries ◽  
Public Sector ◽  
Private Sector ◽  
Private Investment ◽  
Developed Countries ◽  
Financial Health ◽  
Indian States ◽  
Checks And Balances ◽  
Private Partnership ◽  
The Public

Public-Private Partnership (PPP) projects have been gaining in popularity in many developing countries along with developed countries. While there has been sufficient research on private sector capacity to make the partnership successful, not much research exists on the importance of the financial health of the public sector in PPP projects. The premise of the current research is that strong public sector finances instil confidence in the private sector of governments’ ability to honour PPP commitments and that, in turn, increases the attractiveness of PPP projects. Through a number of case studies relating to government finances of Indian states and other countries, it is seen that governments which have checks and balances to issuance of guarantees and other forms of indirect support for PPP projects are actually able to attract higher levels of PPP investment.

Motivations for adopting unsolicited proposals for public-private partnership project implementation

2018 ◽  
Vol 23 (2) ◽  
pp. 221-238 ◽  
Author(s):  
Robert Osei-Kyei ◽  
Albert P.C. Chan ◽  
Ayirebi Dansoh ◽  
Joseph Kwame Ofori-Kuragu ◽  
Emmanuel Kingsford Owusu
Keyword(s):  
Public Sector ◽  
Developed Countries ◽  
Public Private Partnership ◽  
Project Implementation ◽  
Private Partnership ◽  
Content Type ◽  
The Public ◽  
Private Investors ◽  
Push And Pull ◽  
Specific Country

Purpose The purpose of this study is to explore the motivations of governments for adopting unsolicited proposals for public–private partnership (PPP) project implementation. Design/methodology/approach A comprehensive review of literature was conducted to derive a list of motivations for adopting unsolicited PPPs. Subsequently, an empirical questionnaire survey was conducted with international PPP experts. Inter-rater agreement analysis, mean significance index and independent two-sample t-test were used for data analysis. Findings Results reveal four very critical motivations for governments’ interest in unsolicited PPPs; these include: “enhanced private sector innovation and creativity in PPPs”; “lack of public sector capacity to identify, prioritise and procure projects”; “lack of private investors’/developers’ interest in projects at remote areas”; and “rapid implementation of PPP projects”. Further analysis shows that developing and developed countries view the significance of three motivations differently. Research limitations/implications The major limitation lies in the fact that this study only focused on the general motivations/rationale for using unsolicited PPP proposals and did not thoroughly examine and consider the inherent property of motivations (i.e. push and pull theories). Therefore, future studies should explore the “pull and push” motivations for adopting unsolicited PPPs within a specific country or region. Originality/value The research outputs inform international private developers of the key expectations of governments/public departments when submitting unsolicited PPP proposals for consideration by the public sector. Furthermore, the outputs will enable governments/public departments and private proponents to derive performance objectives and standards for unsolicited PPP projects.

The analysis of debt levels in public firms: an international evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rajesh Pathak ◽  
Ranjan Das Gupta ◽  
Abhinav Jalali
Keyword(s):  
Economic Development ◽  
Methodological Approach ◽  
Developed Countries ◽  
Tobit Regression ◽  
Content Type ◽  
Public Firms ◽  
Law System ◽  
Legal Principles ◽  
Developed Nations ◽  
Debt Levels

PurposeThis study investigates if the widely held predictors of corporate leverage exhibit predictive consistency through times and across countries amidst country heterogeneities such as legal principles, state of economic development and protection of investors’ rights.Design/methodology/approachWe employ financial data for 3,197 unique firms from eight emerging and ten developed countries during the years 2001–2017 and use Tobit regression models, a two-step Fama−MacBeth(1973) regression and panel data regression techniques in order to ensure the robustness of estimates.FindingsWe find that firms in the civil French law system exhibit the highest average of a debt (around 27%), whereas firms based in high investors’ protection environment and in developed nations borrow significantly less than their counterparts. Furthermore, among predictors, including a firm's payout ratio, it returns on equity and the cash ratio except the P/B ratio have varying predictability for a corporate debt when firms are classified based on law systems, investors’ rights and the economic scenarios. The crisis period significantly affects the relationship of debt levels with legal systems, investors’ rights and economic development scenario. The author’s estimates are robust to alternate analysis.Originality/valueThis study is unique in its methodological approach and involves a considerably large number of countries and a longer study period for the results to be more generalizable compared to other existing studies.

The nexus between economic institutions and unemployment: evidence from sub-Saharan Africa

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Abdullahi Abdulhakeem Kilishi ◽  
Hammed Adesola Adebowale ◽  
Sodiq Abiodun Oladipupo
Keyword(s):  
Panel Data ◽  
Private Investment ◽  
Developed Countries ◽  
Sub Saharan Africa ◽  
Economic Institutions ◽  
Male And Female ◽  
Content Type ◽  
Long Run ◽  
Sub Saharan ◽  
Ssa Countries

Purpose This paper aims to investigate the nexus between economic institutions (EI) and unemployment in sub-Saharan African (SSA) countries. Specifically, the paper examines the impact of aggregate EI and ten different components of institutions on total, male and female unemployment in SSA. Design/methodology/approach The paper used unbalanced panel data of 37 SSA countries covering the period between 1995 and 2018. A dynamic heterogenous panel data model is specified for the study. Two alternative estimation techniques of dynamic fixed effect and pool mean group methods were used to estimate the models. The choice of appropriate method is based on Hausman specification test. Findings The findings reveal that aggregate EI and institutions related to the monetary system, trade flows, government spending and fiscal process significantly lead to less unemployment in the long-run. However, there is no evidence of a significant relationship between EI and unemployment in the short-run. These findings are consistent for total, male and female unemployment, respectively. Practical implications To reduce unemployment significantly in the long run, policymakers in SSA need to build more market-friendly institutions that will incentivize private investment, allow free movement of labour and goods, as well as guarantee a stable macroeconomic environment and efficient fiscal system. Originality/value Most of the existing studies focused on the influence of labour market institutions on unemployment ignoring the effects of other forms of institutions. While available studies on the link between institutions and unemployment used either OECD or other developed countries sample, with scanty evidence from Africa. However, the effects of EI could vary across regions. Thus, generalizing the findings from developed countries for SSA countries and other developing countries may be misleading. Hence, this paper contributes to the existing literature by examining the nexus between different types of EI and unemployment using the SSA sample.

Public sector firms and continuous improvement: how factors can help or hinder learning

2019 ◽  
Vol 27 (4) ◽  
pp. 34-36
Keyword(s):  
Public Sector ◽  
Case Studies ◽  
Continuous Improvement ◽  
Design Methodology ◽  
Reading Time ◽  
Content Type ◽  
External Conditions ◽  
Pertinent Information ◽  
Learning And Change ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings A strong emphasis on continuous improvement can enable public sector firms to significantly raise performance and efficiency standards. However, both internal and external conditions need to be favorable in order to create an environment in which learning and change are supported. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format

The difference in the FDI – private investment relationship between developed and developing countries: does it stem from governance environment?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Van Bon Nguyen
Keyword(s):  
Developing Countries ◽  
Design Methodology ◽  
Good Governance ◽  
Trade Openness ◽  
Private Investment ◽  
Developed Countries ◽  
Tax Revenue ◽  
Content Type ◽  
Governance Environment ◽  
The Difference

PurposeThe paper attempts to empirically examine the difference in the foreign direct investment (FDI) – private investment relationship between developed and developing countries over the period 2000–2013.Design/methodology/approachThe paper uses the two-step GMM Arellano-Bond estimators (both system and difference) for a group of 25 developed countries and a group of 72 developing ones. Then, the PMG estimator is employed to check the robustness of estimates.FindingsFirst, there is a clear difference in the FDI – private investment relationship between developed countries and developing ones. Second, governance environment, economic growth and trade openness stimulate private investment. Third, the effect of tax revenue on private investment in developed countries is completely opposite to that in developing ones.Originality/valueThe paper is the first to provide empirical evidence to confirm the dependence of FDI – private investment relationship on governance environment. In fact, contrary to the view (arguments) in Morrissey and Udomkerdmongkol (2012), the paper indicates that FDI crowds out private investment in developed countries (good governance environment), but crowds in developing countries (poor governance environment).

Private firms, public entities, and microeconomic incentives

2013 ◽  
Vol 21 (2) ◽  
pp. 176-197 ◽  
Author(s):  
Barry Keating ◽  
Maryann Keating
Keyword(s):  
Case Studies ◽  
Asset Management ◽  
Cost Benefit Analysis ◽  
Allocative Efficiency ◽  
Cost Benefit ◽  
Public Private Partnerships ◽  
Primary Case ◽  
Content Type ◽  
The Public ◽  
Optimal Output

PurposePublic private partnerships (PPPs) centralize decision making into a hybrid type of firm, consisting of a government entity with a private firm, that is either a profit‐seeking or non‐profit entity, that initiates, constructs, maintains, or provides a service. The PPP model recognizes that both the public and the private sectors have certain comparative advantages in the performance of specific tasks. PPPs, grounded in cost/benefit analysis, have been used in Australia for decades and are presently being introduced in the USA as a form of innovate contracting. This paper aims to evaluate PPPs as a potentially transferable model for the delivery of public services. PPP firms are evaluated in terms of capital asset management, productive and allocative efficiency, transfer of risk between the public and private sectors, rights to the residual, and the public interest. A case study comparison of Fremantle Ports (Australia) and the Indiana Toll Road (USA) is employed to demonstrate PPP design and function.Design/methodology/approachA description and evaluation of public private partnerships (PPP) is presented and two original and primary case studies are reviewed.FindingsA PPP functioning as a monopoly provider of a common pool public asset approximates economic efficiency when user fees cover virtually full cost. Identifying optimal output and quality assessment is more challenging in the case of social goods in which the public goal is subsidy minimization and clients cannot assess quality. Best practices are helpful; they guarantee the PPP process, but not the outcome. All PPPs, in whatever country or industry, are vulnerable to bureaucratic expansion whenever they are given access to subsidized loans underwritten by taxpayers.Originality/valueThe two case studies in this paper are 100 percent original; they were examined in person by the authors, and the managers of the two entities were interviewed in Indiana (USA) and Fremantle, Western Australia.

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