The effect of institutional factors on public–private partnership success in ports |
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| Institution: | 1. Department of Commerce, Finance and Shipping, Cyprus University of Technology, POB. 50329, 3603 Limassol, Cyprus;2. Department of Business and Quantitative Studies, University of Naples “Parthenope”, Via Generale Parisi 13, 80132 Naples, Italy;3. Division of Infrastructure Systems and Maritime Studies, School of Civil and Environmental Engineering, Nanyang Technological University, 50 Nanyang Avenue, Singapore, Singapore;1. Instituto Superior Técnico, Universidade de Lisboa, Av. Rovisco Pais 1, 1049-001, Lisboa, Portugal;2. CAPES Scholarship Program n°9227/13-0, Brazil;1. Center for Studies in Logistics, Infrastructure and Management, COPPEAD Graduate Business School, Federal University of Rio de Janeiro, Brazil;2. Instituto Superior de Economia e Gestão, University of Lisbon, Rua Miguel Lupi, 20, 1249-078 Lisbon, Portugal |
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| Abstract: | Port public–private partnerships (PPPs) are considered to be an important emerging mechanism for port development and improvement in port performance especially for developing countries. This paper empirically investigates the effect of institutional factors in the success of port’s PPPs; the latter defined as the attractiveness of the PPP project for private bidders and the market competitiveness of the facility. The empirical investigation of a large sample of ports finds that ‘regulatory quality’, ‘market openness’, ‘ease to start a business’ and ‘enforcing contracts’ are important institutional determinants of port PPP success and may ultimately contribute to port development and economic growth. The results are consistent with and add to the theoretical literature whereas practical implications for port authorities, managers and investors are discussed. |
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| Keywords: | Public–private partnerships Port Institutional environment Privatization Port development |
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