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Public–private partnership: Difference between revisions
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{{Short description|Government/private company partnership}} | {{Short description|Government/private company partnership}} | ||
A '''public–private partnership''' ('''PPP''', '''3P''', or '''P3''') is a long-term arrangement between a government and [[private sectors|private sector]] institutions.<ref name="Hodge, G 2007 pp.54ku558">Hodge, G. A and Greve, C. (2007), Public–Private Partnerships: An International Performance Review, Public Administration Review, 2007, Vol. 67(3), pp. 545–558</ref><ref name=":1">{{Cite journal|last1=Roehrich|first1=Jens K.|last2=Lewis|first2=Michael A.|last3=George|first3=Gerard|title=Are public–private partnerships a healthy option? A systematic literature review|journal=Social Science & Medicine|volume=113|pages=110–119|doi=10.1016/j.socscimed.2014.03.037|pmid=24861412|year=2014|doi-access=free|hdl=10044/1/13799|hdl-access=free}}</ref> Typically, it involves [[private capital]] financing government projects and services up-front, and then drawing revenues from [[taxpayer]]s and/or users for profit over the course of the PPP contract.<ref>{{Cite book|title=Encyclopedia of the City|url=https://archive.org/details/encyclopediacity00cave|url-access=limited|last=Caves|first=R. W.|publisher=Routledge|year=2004|isbn=9780415252256|pages=[https://archive.org/details/encyclopediacity00cave/page/n591 551]}}</ref> Public–private partnerships have been implemented in [[Public–private partnerships by country|multiple countries]] and are primarily used for [[infrastructure]] projects. Although they are not compulsory, PPPs have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.<ref>{{Cite book|last=Bovaird|first=Tony|editor1-first=Tony|editor1-last=Bovaird|editor2-first=Elke|editor2-last=Loeffler|date=2015-09-25|title=Public Management and Governance|doi=10.4324/9781315693279|isbn=9781315693279|url=https://figshare.com/articles/online_resource/Public_Management_and_Governance/19476941 }}</ref> | A '''public–private partnership''' ('''PPP''', '''3P''', or '''P3''') is a long-term arrangement between a government and [[private sectors|private sector]] institutions.<ref name="Hodge, G 2007 pp.54ku558">Hodge, G. A and Greve, C. (2007), Public–Private Partnerships: An International Performance Review, Public Administration Review, 2007, Vol. 67(3), pp. 545–558</ref><ref name=":1">{{Cite journal|last1=Roehrich|first1=Jens K.|last2=Lewis|first2=Michael A.|last3=George|first3=Gerard|title=Are public–private partnerships a healthy option? A systematic literature review|journal=Social Science & Medicine|volume=113|pages=110–119|doi=10.1016/j.socscimed.2014.03.037|pmid=24861412|year=2014|doi-access=free|hdl=10044/1/13799|hdl-access=free}}</ref> Typically, it involves [[private capital]] financing government projects and services up-front, and then drawing revenues from [[taxpayer]]s and/or users for profit over the course of the PPP contract.<ref>{{Cite book|title=Encyclopedia of the City|url=https://archive.org/details/encyclopediacity00cave|url-access=limited|last=Caves|first=R. W.|publisher=Routledge|year=2004|isbn=9780415252256|pages=[https://archive.org/details/encyclopediacity00cave/page/n591 551]}}</ref> Public–private partnerships have been implemented in [[Public–private partnerships by country|multiple countries]] and are primarily used for [[infrastructure]] projects. Although they are not compulsory, PPPs have been employed for building, equipping, operating and maintaining schools, hospitals, transport systems, and water and sewerage systems.<ref>{{Cite book|last=Bovaird|first=Tony|editor1-first=Tony|editor1-last=Bovaird|editor2-first=Elke|editor2-last=Loeffler|date=2015-09-25|title=Public Management and Governance|doi=10.4324/9781315693279|isbn=9781315693279|url=https://figshare.com/articles/online_resource/Public_Management_and_Governance/19476941 }}</ref> | ||
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==Definition== | ==Definition== | ||
There is no consensus about how to define a PPP.<ref name="Marta Marsilio 2011 pp.763-782">Marta Marsilio, M., Cappellaro, G and Cuccurullo, C. (2011), The Intellectual Structure Of Research Into PPPs, ''Public Management Review'', Vol 13 (6), pp.763–782</ref> The term can cover hundreds of different types of long-term contracts with a wide range of risk allocations, funding arrangements, and transparency requirements.<ref name="Hodge, G 2007 pp.54ku558"/> The advancement of PPPs, as a concept and a practice, is a product of the [[new public management]] of the late 20th century, the rise of neoliberalism, and [[globalization]] pressures. Despite there being no formal consensus regarding a definition, the term has been defined by major entities. | There is no consensus about how to define a PPP.<ref name="Marta Marsilio 2011 pp.763-782">Marta Marsilio, M., Cappellaro, G and Cuccurullo, C. (2011), The Intellectual Structure Of Research Into PPPs, ''Public Management Review'', Vol 13 (6), pp.763–782</ref> The term can cover hundreds of different types of long-term contracts with a wide range of risk allocations, funding arrangements, and transparency requirements.<ref name="Hodge, G 2007 pp.54ku558"/> The advancement of PPPs, as a concept and a practice, is a product of the [[new public management]] of the late 20th century, the rise of neoliberalism, and [[globalization]] pressures. Despite there being no formal consensus regarding a definition, the term has been defined by major entities. | ||