ENGLISH

Public-private Partnerships in the New Eu Member States: Managing Fiscal Risks (World Bank Working Papers)

By Timothy Irwin , Hana Polackova Brixi , Nina Budina

Book information

Year
2007
ISBN
0821371533, 9780821371534, 9780821371541
DOI
10.1596/978-0-8213-7153-4
Open Library ID
OL11416990M
Language
english
Format
PDF
Filesize
493 kB (505245 bytes)
Pages
44\48
Time added
2011-06-04 13:46:07

Description

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 cost and risks. Although PPPs may not blemish governments' reported fiscal statements in the short term, they do create fiscal obligatioins. 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 change that PPPs will be well designed and appropriately used.

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