Public-Private Partnerships in the New Eu Member States: Managing Fiscal Risks PDF (Adobe DRM) download by Hana Polackova Brixi

Public-Private Partnerships in the New Eu Member States: Managing Fiscal Risks

World Bank Publications
Publication date: August 2007
ISBN: 9780821371541
Digital Book format: PDF (Adobe DRM)

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Public-private partnerships (PPPs) are popular around the world, in part because they allow governments to secure much-needed investment in public services without immediately having to raise taxes or borrow. Yet, PPPs pose a fiscal danger because a government's desire to avoid reporting immediate liabilities may blind it to future fiscal costs and risks. Although PPPs may not blemish governments' reported fiscal statements in the short term, they do create fiscal obligations. This increases fiscal vulnerability and can result in poorly-designed PPPs. The extent of the danger depends on the fiscal institutions that shape and constrain government decisions toward PPPs. Such fiscal institutions affect decisionmaking incentives. Better fiscal institutions therefore can increase the chance that PPPs will be well designed and appropriately used.
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