A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Transaction Costs in Transport Public–Private Partnerships: Comparing Procurement Procedures
In recent years, concern has grown over good practices in the procurement process in public–private partnerships (PPPs). The consensus view is that PPPs are prone to higher transaction costs than traditional public provision. In this paper, we contrast the hypothesis that transaction costs in transport PPPs depend, to a large extent, on the procurement mechanism used in each case, comparing the Negotiated and the Open procedures. Given that PPPs may offer considerable benefits and significant savings over the entire life cycle of the project, it is essential for PPPs to minimize those costs that undermine efficiency gains and that deter private involvement. The quantitative analysis undertaken in this paper highlights that there is room for important savings in the tendering of PPP transport infrastructure projects, using an Open procedure.
Transaction Costs in Transport Public–Private Partnerships: Comparing Procurement Procedures
In recent years, concern has grown over good practices in the procurement process in public–private partnerships (PPPs). The consensus view is that PPPs are prone to higher transaction costs than traditional public provision. In this paper, we contrast the hypothesis that transaction costs in transport PPPs depend, to a large extent, on the procurement mechanism used in each case, comparing the Negotiated and the Open procedures. Given that PPPs may offer considerable benefits and significant savings over the entire life cycle of the project, it is essential for PPPs to minimize those costs that undermine efficiency gains and that deter private involvement. The quantitative analysis undertaken in this paper highlights that there is room for important savings in the tendering of PPP transport infrastructure projects, using an Open procedure.
Transaction Costs in Transport Public–Private Partnerships: Comparing Procurement Procedures
Soliño, Antonio Sánchez (author) / Gago de Santos, Pilar (author)
Transport Reviews ; 30 ; 389-406
2010-05-01
18 pages
Article (Journal)
Electronic Resource
Unknown
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