Quality of institutions and private participation in transport infrastructure investment: Evidence from developing countries |
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| Institution: | 1. University of Antwerp, Department of Transport and Regional Economics, Prinsstraat 13, Antwerp, 2000, Belgium;2. University of Antwerp, Research Group on Public Administration & Management, Department of Political Science, Sint - Jacobstraat 2 – 4, Antwerp, 2000, Belgium;1. Universidade Federal do Cariri, Brazil;2. CERIS/ICIST, Instituto Superior Técnico, Universidade de Lisboa, Portugal;3. ISEG-Lisbon School of Economics and Management, Universidade de Lisboa, Portugal;1. Department of Management, California State University, East Bay, 25800 Carlos Bee Blvd, Hayward, CA 94542, United States;2. Jindal School of Management, University of Texas at Dallas, Richardson, TX 75083, United States;3. School of Business and Professional Studies, University of San Francisco, San Francisco, CA 94117, United States;4. Jindal School of Management, University of Texas at Dallas, Richardson, TX 75083, United States;1. Instituto Universitário de Lisboa (ISCTE-IUL) ISCTE-IUL Instituto Universitário de Lisboa, Business Research Unit (UNIDE/BRU), Av. das Forças Armadas Ed.II, Office D506 1649-026 Lisboa, Portugal;2. ISCTE-IUL Instituto Universitário de Lisboa Av. das Forças Armadas Ed.II, 1649-026 Lisboa, Portugal |
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| Abstract: | In recent decades, owing to a series of public debt crises and constraints on government expenditure, infrastructure investment has dropped significantly in both developed and developing countries. To counterbalance this trend, Public–Private Partnerships (PPPs) schemes have been increasingly adopted. In this paper, we explore the determinants of the degree of private participation in transport infrastructure projects in a large sample of developing countries. By using a large sample of transport projects included in the World Bank Private Participation in Infrastructure Projects database, we document that greater participation by private parties in PPP contracts is associated with better institutions in terms of lower corruption, civil freedom, and a better regulatory framework. |
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| Keywords: | Infrastructure investment Institutions Public–Private Partnerships |
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