Large infrastructure projects often face significant cost overruns
and stakeholder fragmentation. Public-Private Partnerships (PPPs)
allow governments to procure long-term infrastructure services from
private providers, rather than developing, financing and managing
infrastructure assets themselves. Aligning public and private
interests and institutional logics to create robust, decades-long
service contracts subject to shifting economic and political
contexts is a significant cross-sectoral governance challenge. This
work summarizes over a decade of research conducted by scholars at
Stanford s Global Projects Center and multiple US and International
collaborators to enhance the governance of both infrastructure
projects and institutional investors, whose long term, cash flow
obligations align especially well with the kinds of long term
inflation-adjusted returns that PPP infrastructure projects can
generate. In these pages, multiple theoretical perspectives are
integrated and combined with empirical evidence to examine how
experiences from more mature PPP jurisdictions can help improve PPP
governance approaches worldwide. The information contained here
will appeal to engineering, economics, political science, public
policy and finance scholars interested in the delivery of
high-quality, sustainable infrastructure services to the citizens
in countries with established and emerging market economies.
Officials in national, state/provincial and local government
agencies seeking alternative financing and service provision
strategies for their civil and social infrastructure, and
legislators and their staff members interested in promoting PPP
legislation will find this book invaluable. It will also be of high
interest to long-term investment professionals from pension funds,
sovereign funds, family offices and university endowments seeking
to deploy money into the infrastructure asset class, and
practitioners seeking insights into methods for enhancing
stakeholder incentive alignment, reducing transaction costs and
improving project outcomes in PPPs. Contributors: B.G. Cameron, G.
Carollo, C.B. Casady, E.F. Crawley, K. Eriksson, W. Feng, M.J.
Garvin, K.E. Gasparro, R.R. Geddes, W.J. Henisz, D.R. Lessard, R.E.
Levitt, T. Liu, A.H.B. Monk, D.A. Nguyen, C. Nowacki, W.R. Scott,
R. Sharma, A.J. South
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