Effects of the Financial Crisis on Public-Private Partnerships.
Title:
Effects of the Financial Crisis on Public-Private Partnerships.
Author:
Fund, International Monetary.
ISBN:
9781451917208
Personal Author:
Physical Description:
1 online resource (26 pages)
Series:
IMF Working Papers
Contents:
Contents -- I. Introduction -- II. Public-Private Partnerships -- III. Transmission Mechanisms: Threats, Vulnerabilities and Risk -- A. Crisis Transmission Mechanisms: Threats -- B. Crisis Transmission Mechanisms: Vulnerabilities -- C. Crisis Transmission Mechanisms: Risks -- IV. Impact of the Crisis: Evidence -- V. Managing Crisis Risks for PPPs -- A. Intervention Measures -- B. Intervention Principles -- C. "Trip Switch" Clauses -- References -- Tables -- 1. Channels of Transmission of the Financial Crisis -- Figures -- 1. Developed and Emerging Market Interest Rates -- 2. Project Finance Syndicated Loans Volume by Region -- 3. Typology of Risks Affecting PPPs -- 4. Total Investment Commitments -- 5. Ongoing PPP Projects in Emerging Markets Affected by the Financial Crisis -- 6. Survey Analysis: Risks and Institutional Framework -- Boxes -- 1. Definition of PPPs -- 2. Effect of a Crisis on PPP Partners -- 3. The Crisis, Emerging Markets, Foreign Investment and Exchange Rates -- 4. Country Evidence: Effects of the Crisis on PPPs -- 5. Government Measures to Reinvigorate PPPs.
Abstract:
The paper investigates the impact of the global financial crisis on public-private partnerships (PPPs) and the circumstances under which providing support to new and existing projects is justified. Based on country evidence, cost of and access to finance are found to be the main channels of transmission of the financial crisis, affecting in particular pipeline PPP projects. Possible measures to help PPPs during the crisis include contract extensions, output-based subsidies, revenue enhancements and step-in rights. To limit government's exposure to risk, while preserving private partner's efficiency incentives, intervention measures should be consistent with the wider fiscal policy stance, be contingent on specific circumstances, and be adequately costed and budgeted. Governments should be compensated for taking on additional risk.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Genre:
Electronic Access:
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