TY  - UNPD
A1  - Avdiu, Besart
A1  - Weichenrieder, Alfons J.
T1  - Financing costs and the efficiency of public-private partnerships
T2  - SAFE working paper series ; No. 295
N2  - The paper compares provision of public infrastructure via public-private partnerships (PPPs) with provision under government management. Due to soft budget constraints of government management, PPPs exert more effort and therefore have a cost advantage in building infrastructure. At the same time, hard budget constraints for PPPs introduce a bankruptcy risk and bankruptcy costs. Consequently, if bankruptcy costs are high, PPPs may be less efficient than public management, although this does not result from PPPs’ higher interest costs.
T3  - SAFE working paper - 295 
KW  - Public-Private Partnerships
KW  - Infrastructure
KW  - Financing Costs
KW  - Default
Y1  - 2020
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/55568
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-555686
UR  - https://ssrn.com/abstract=3732107
IS  - This Version, November 2020
PB  - SAFE
CY  - Frankfurt am Main
ER  -