Scandinavian Working Papers in Economics

Working Papers,
Blekinge Institute of Technology, Department of Industrial Economics

No 2017/01: Risk factors’ importance and allocation in infrastructure Private Public Partnerships

Henrik Sällberg () and Emil Numminen ()
Additional contact information
Henrik Sällberg: Department of Industrial Economics, Blekinge Inst of Technology, Postal: Department of Industrial Economics, Blekinge Inst of Technology, 371 79 Karlskrona, Sweden
Emil Numminen: Department of Industrial Economics, Blekinge Inst of Technology, Postal: Department of Industrial Economics, Blekinge Inst of Technology, 371 79 Karlskrona, Sweden

Abstract: Private Public Partnership (PPP) has become a major way of providing infrastructure investments. Key issues in the literature on PPP are identification of critical risk factors and their allocation. In this paper we contribute to this literature on these two issues by conducting a systematic literature review study. Data was collected from peer-reviewed journal papers in three major scientific databases from 2000 to 2015. The findings revealed legal changes, operational revenue below expectation, inadequate distribution of responsibilities, and organization and coordination to be the most important risk factors regardless of sector. Risk factors’ importance were found to be contingent on country regulatory quality level, capturing the ability of a government to formulate and implement sound economic policies and regulations. Most risks in PPPs are reported to be shared or borne by the private sector, while fewer risks than preferred are borne by the public sector.

Keywords: Private Public partnership; risk factors; risk allocation; country regulatory quality; Review.

22 pages, October 26, 2017

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