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Public-Private Partnerships in Infrastructure - Managing the Challenges (Hardcover, 1st ed. 2017)
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Public-Private Partnerships in Infrastructure - Managing the Challenges (Hardcover, 1st ed. 2017)
Series: India Studies in Business and Economics
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The book provides readers with a clear understanding of
infrastructure challenges, how Public-Private Partnerships (PPP)
can help, and their use in practice. Infrastructure bottlenecks are
generally considered the most important constraint to growth in
many countries worldwide. Historically, infrastructure projects
have been financed and implemented by the state. However, owing to
the fiscal resource crunch, time and cost over-runs, and the
general poor quality of publicly provided infrastructure, many
emerging market governments, including India, have increasingly
adopted PPPs with billions of dollars of investment riding on them.
The results have been varied - from spectacular airports like the
Delhi International Airport Limited with the associated controversy
over land use, to the renegotiation of contracts as in the case of
Tata Mundra Ultra Mega Power Project. Illustrating concepts with
relevant case studies, the book makes the challenges of PPPs
understandable to industry and management practitioners as well as
students of management, public policy and economics. It is useful
to practitioners wishing to avoid the pitfalls in the tricky
terrain of PPPs and policymakers wanting guidance in crafting
proper incentives. It also helps students gain a holistic and
"applied" understanding of this increasingly important and popular
model. "Public Private Partnerships (PPPs) in India are currently
under stress. A comprehensive treatment of the subject by a
long-time and erudite practitioner and a management academic, this
book should be useful to students trying to learn the basics, while
also being valuable to professionals and policy makers. The book
suggests that the Government should hold bidders accountable to
their submitted bids, thereby preserving sanctity of contract. This
will discourage aggressive bidding which has become a serious and
endemic problem. The book also suggests the use of better bidding
criteria to mitigate traffic risk in transport projects. Policy
makers should pay heed to these suggestions as they consider
improvements in the PPP policy regime going forward."-Arvind
Subramanian, Chief Economic Adviser, India "For a fast-growing
India, infrastructure creation and operation is a great challenge
and opportunity. This excellent book combines theory and practice
on PPPs, and is very useful for professionals and students alike.
With case studies and current developments, the authors bring out
issues in India with global experiences as well. A must-read for
infrastructure practitioners."-Shailesh Pathak, Chief Executive
(Designate), L&T Infrastructure Development Projects Limited
"India's program of private participation in infrastructure
attracted worldwide attention as it became one of the largest
programs in emerging markets. As well as the volumes of finance
mobilized, it garnered interest because of some of the innovative
approaches developed, such as Viability Gap Funding. The Indian PPP
story is well captured in this book, which also makes the point
that India is seeing project cancellations and failures rise. The
authors analyze the factors behind this and point the way to a more
robust PPP market that learns from the experiences of the
past."-Clive Harris, Practice Manager, Public-Private Partnerships,
World Bank
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