Factors attracting private sector investments in public–private partnerships in developing countries

Robert Osei‐Kyei · Albert P.C. Chan

90 citations0/0 files storedJournal of Financial Management of Property and Construction

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Public-Private Partnership Projects International Business and FDI Fiscal Policy and Economic Growth

Abstract

Purpose The increasing demand for public infrastructure has caused a rise in the global adoption of the public–private partnership (PPP) concept. However, over the past years, most of the developing countries have failed to attract more private investments as realised in the developed countries. This paper aims to investigate the critical factors that attract private investments in the PPP markets of developing countries. Design/methodology/approach An empirical questionnaire survey was conducted with targeted international PPP experts from the academic and industrial sectors. The inter-rater agreement analysis, mean score ranking and Mann–Whitney U test were used to analyse the survey responses. Findings Results indicate that the three most critical factors are political support and acceptability for PPPs, government positive attitude towards private sector investments and political stability. On the other hand, factors including government guarantees, competent PPP unit and tax rebate on imported equipment are of low importance. The Mann–Whitney U test reveals that experts from the academic and industrial sectors view the importance of three factors differently: adequate public sector experience in PPP, government providing guarantees and government providing tax rebate on imported equipment. Originality/value The research outputs contribute to the existing but limited knowledge on PPP practices in developing countries by providing empirical evidence and cross-cultural perceptions on the conditions that are critical to the expansion of PPP markets in developing countries. It is therefore expected that governments and policymakers seeking to adopt the PPP concept would take into consideration the results and implications to enhance PPP growth.

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References

2007Answers to 20 Questions About Interrater Reliability and Interrater Agreement 2005Critical success factors for PPP/PFI projects in the UK construction industry 2015Review of studies on the Critical Success Factors for Public–Private Partnership (PPP) projects from 1990 to 2013 2004Critical Success Factors for Public–Private Partnerships in Infrastructure Development 1991The Mid-Point on a Rating Scale: Is it Desirable?2009Preferred risk allocation in China’s public–private partnership (PPP) projects 2010Critical Success Factors for PPPs in Infrastructure Developments: Chinese Perspective 2012Public private partnership projects in Singapore: Factors, critical risks and preferred risk allocation from the perspective of contractors

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2018Root causes of conflict and conflict resolution mechanisms in public-private partnerships: Comparative study between Ghana and China 2018Public-private partnerships in developing countries 2018Government Support Programs and Private Investments in PPP Markets 2021Mechanisms for protecting returns on private investments in public infrastructure projects

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