The political cost of public–private partnerships: Theory and evidence from Colombian infrastructure development

Governance ◽  
2020 ◽  
Vol 33 (4) ◽  
pp. 771-788 ◽  
Author(s):  
Maria Camila Angulo Amaya ◽  
Anthony Michael Bertelli ◽  
Eleanor Florence Woodhouse
Keyword(s):  
Public Private Partnerships ◽  
The Political ◽  
Infrastructure Development ◽  
Political Cost

scholarly journals The Dilemma of Public–Private Partnerships as a Vehicle for the Provision of Regional Transport Infrastructure Development in Africa

2013 ◽  
Vol 6 (2) ◽  
Author(s):  
Olabisi Delebayo Akinkugbe
Keyword(s):  
Financial Burden ◽  
Developmental State ◽  
Economic Thought ◽  
Transport Infrastructure ◽  
Public Private Partnerships ◽  
Infrastructure Development ◽  
Regional Transport ◽  
Regional Economic ◽  
Policy Goals ◽  
Political Economic

AbstractWith regional economic integration (REI) as a major strategy for development, the African continent hosts a plethora of regional economic communities of varying ambition longevity and success. While in the 1970s, political-economic ideas built mainly on the “developmental state” informed the design of most of these agreements, the change in economic thought in the 1980s which ushered in the “neoliberal turn” has since influenced the design of most REI schemes in Africa, including the New Partnership for African Development. However, among other factors, inadequate transport infrastructure linking regions poses a major impediment to regional trade and development in Africa. The more so as most African governments are not able to meet up with the financial burden, pace and managerial capability for the efficient provision and management of regional transport infrastructure. The article explores the dilemma associated with the adoption of Public–Private Partnerships (“PPP”) as a mechanism for the provision of regional transport infrastructure in Africa. While sourcing infrastructure provision through the PPP mechanism has significant advantages, it is however also embedded with a complex financial, contractual and legal process. First, it explores the theoretical assumptions which inform PPP based on ideologies within law and development debates. It argues that theoretically, PPPs are reflective of the neoliberal policy set. Against the trajectory of governance in Africa, it critically foregrounds insights that are derivable from an application of Path Dependency theory to the institutional change which comes with the planned adoption of PPP at the regional level. These insights are essential considerations for policy experts to bear in mind both while designing the regional institutional framework for PPP and during the implementation stage. Secondly, although most of the past initiatives for the provision of regional infrastructure have fallen short of their flamboyant development policy goals, the article argues that the recently initiated Programme for Infrastructure Development in Africa (“PIDA”) provides a new hope for the future of infrastructure development in the continent. The article contends that PIDA offers a legitimate platform which with the requisite support of the regional economic initiatives can generate the enabling environment for the implementation of successful regional PPP infrastructure projects.

The Political Cost of Lockdown&Apos;S Enforcement

2021 ◽  
Author(s):  
Andrea Fazio ◽  
Tommaso Reggiani ◽  
Fabio Sabatini
Keyword(s):  
The Political ◽  
Political Cost

scholarly journals FINANCIAL REPORTING CONSEQUENCES OF CAPITAL XENOPHOBIA

2019 ◽  
Vol 13 (3) ◽  
Author(s):  
David Godsell
Keyword(s):  
National Security ◽  
Financial Reporting ◽  
Foreign Capital ◽  
Important Determinant ◽  
The Political ◽  
Extant Literature ◽  
Political Cost ◽  
Accounting Theory ◽  
Positive Accounting Theory

The purpose of this editorial is to describe financial protectionism as a potentially important determinant of financial reporting outcomes. Fear of foreign capital, or capital xenophobia, spurs financial protectionism. Examining the effects of financial protectionism on financial reporting outcomes potentially permits an expansion of positive accounting theory and, in particular, the political cost hypothesis. I first describe extant literature examining the political cost hypothesis. I then describe national-security related drivers of capital xenophobia. Next, I examine settings in which we can observe variation in financial protectionism. I conclude by positing varied paths by which financial protectionism can affect financial reporting outcomes.

Sign in / Sign up

Export Citation Format

Share Document