06478oam 22014294 450 991078822910332120230721045706.01-4623-4164-01-4527-6015-297866128438841-4518-7324-71-282-84388-5(CKB)3170000000055327(EBL)1608406(SSID)ssj0000939953(PQKBManifestationID)11483762(PQKBTitleCode)TC0000939953(PQKBWorkID)10956165(PQKB)11149947(OCoLC)450074971(MiAaPQ)EBC1608406(IMF)WPIEE2009177(EXLCZ)99317000000005532720020129d2009 uf 0engur|n|---|||||txtccrTowards a Principal-Agent Based Typology of Risks in Public-Private Partnerships /André De Palma, Guillaume Prunier, Luc LeruthWashington, D.C. :International Monetary Fund,2009.1 online resource (25 p.)IMF Working PapersAt head of title: Offices in Europe."August 2009."1-4519-1750-3 Includes bibliographical references.Contents; I. Introduction; II. The development of PPPs; III. Risk sharing, asymmetry of information, and perception biases; A. Asymmetry of information; Tables; 1. A Basic Matrix for Risk-Sharing in PPPs; B. Perception Biases; IV. A principal-agent approach to PPPs; Figures; 1. Perception Biases; 2. The Principal-Agent Framework; V. PPP risks and a typology; 2. Typology of Risks in PPPs; VI. Conclusions; ReferencesThere is a strong economic rationale for close cooperation between the public and private sectors. This has resulted in a significant increase in the demand for the provision of public services through instruments combining public and private money such as public-private partnerships (PPPs or P3s). We describe these arrangements and explore how they can be analyzed using standard tools in economics (incentives and principal-agent theory). We discuss the implications of our approach in terms of identifying risks that are often overlooked before turining to the optimal risk-sharing between the public and private partners, in particular with respect to information asymmetries in risk perceptions. This allows us to propose a typology of the risks associated with PPPs, where both internal risks (the risks associated with the contract) and external risks (those associated with the project) are considered.IMF Working Papers; Working Paper ;No. 2009/177Public-private sector cooperationPrivatizationRisk managementInfrastructureimfMacroeconomicsimfPublic FinanceimfOrganizational BehaviorimfTransaction CostsimfProperty RightsimfBureaucracyimfAdministrative Processes in Public OrganizationsimfCorruptionimfAsymmetric and Private InformationimfNational Government Expenditures and Related Policies: InfrastructuresimfOther Public Investment and Capital StockimfMarketing and Advertising: Government Policy and RegulationimfTransportation Systems: Government and Private Investment AnalysisimfPublic EnterprisesimfPublic-Private EnterprisesimfPublic AdministrationimfPublic Sector Accounting and AuditsimfIndustry Studies: Transportation and Utilities: GeneralimfPublic finance & taxationimfCivil service & public sectorimfPublic investment and public-private partnerships (PPP)imfPublic sectorimfRisks of public-private partnershipimfTransportationimfExpenditureimfEconomic sectorsimfPublic financial management (PFM)imfNational accountsimfPublic-private sector cooperationimfFinance, PublicimfFiscal policyimfSaving and investmentimfUnited StatesimfPublic-private sector cooperation.Privatization.Risk management.InfrastructureMacroeconomicsPublic FinanceOrganizational BehaviorTransaction CostsProperty RightsBureaucracyAdministrative Processes in Public OrganizationsCorruptionAsymmetric and Private InformationNational Government Expenditures and Related Policies: InfrastructuresOther Public Investment and Capital StockMarketing and Advertising: Government Policy and RegulationTransportation Systems: Government and Private Investment AnalysisPublic EnterprisesPublic-Private EnterprisesPublic AdministrationPublic Sector Accounting and AuditsIndustry Studies: Transportation and Utilities: GeneralPublic finance & taxationCivil service & public sectorPublic investment and public-private partnerships (PPP)Public sectorRisks of public-private partnershipTransportationExpenditureEconomic sectorsPublic financial management (PFM)National accountsPublic-private sector cooperationFinance, PublicFiscal policySaving and investmentDe Palma André798109Prunier Guillaume1485137Leruth Luc608957International Monetary Fund.Offices in Europe.DcWaIMFBOOK9910788229103321Towards a Principal-Agent Based Typology of Risks in Public-Private Partnerships3704120UNINA