Public-private partnerships in emerging economies

"Over the years, a shortage of funds has resulted in a huge deficit in government budgets for infrastructure, especially in developing economies. It is no longer feasible for governments to bear the entire burden of funding public infrastructure. Given that an inadequate supply of public infrastructure poses a challenge for the economic development of any country, partnerships with the private sector to fund public infrastructure procurement has started to be relied on as an alternative to traditional public procurement. Public-Private Partnerships are an arrangement that allow private entities to fund, design, manage and operate public infrastructure for a term in exchange for the payment of tolls by users or the government may well be the solution to the infrastructure crisis in many developing economies. This book examines the role of law in the adoption, implementation and regulation of Public-Private Partnership in selected developing economies including Brazil, India, Nigeria and South Africa to address how to deal with overlapping laws and how the law can protect assets invested in PPP in order to attract private sector interests in infrastructure financing in developing market, showing how law can be used to create, sustain and promote PPP frameworks that take into account local circumstances in developing economies."

Cover -- Half Title -- Series -- Title -- Copyright -- Dedication -- Contents -- List of abbreviations -- List of statutes -- List of cases -- Preface -- Acknowledgements -- 1 Introduction to public-private partnerships -- 1.1 Background -- 1.2 What is PPP? -- 1.3 Definitions of other terms -- 1.3.1 Infrastructure -- 1.3.2 Public sector -- 1.3.3 Private sector -- 1.3.4 Greenfield and brownfield PPPs -- 1.3.5 Terms used in place of PPP in some jurisdictions -- 1.4 The rationale for adopting PPPs -- 1.5 Types of PPPs -- 1.5.1 Concession -- 1.5.2 The Private Finance Initiative (PFI) -- 1.6 PPP distinguished from other similar types of procurement -- 1.6.1 PPPs vs public-sector procurement -- 1.6.2 PPPs vs privatisation -- 1.6.3 Outsourcing vs PPP -- 1.7 Advantages and disadvantages of PPPs -- 1.8 The critical success factors for PPPs -- 1.8.1 A favourable framework for PPP -- 1.8.2 Transparency and anticorruption -- 1.8.3 Ensuring a healthy investment environment for PPPs -- 1.9 The PPP project cycle -- 1.10 Selecting the right projects for PPPs -- 1.10.1 The scope of the project and requirements -- 1.10.2 Is the project PPP viable? -- 1.11 Affordability, risk allocation, bankability and value for money -- 1.12 Conclusion -- 2 The framework for public-private partnerships -- 2.1 Introduction -- 2.2 The need for a framework -- 2.3 Policy and PPP -- 2.3.1 Policymaking in Brazil, India, Nigeria and South Africa -- 2.4 Legal framework for PPP -- 2.4.1 Key issues for a PPP legal framework -- 2.5 The institutional framework -- 2.5.1 A role for state institutions -- 2.5.2 How the institutional framework can be designed to support PPPs -- 2.6 Creation of a PPP law -- 2.7 Setting up the PPP unit -- 2.8 Regulation of PPP contracts -- 2.9 Resolution of PPP disputes -- 2.9.1 The challenge with PPP disputes -- 2.9.2 The choice of law.