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The Impact of the Global Financial Crisis on Public-Private Partnerships: A UK Perspective

Wall, Anthony and Connolly, Ciaran (2012) The Impact of the Global Financial Crisis on Public-Private Partnerships: A UK Perspective. In: Rethinking Public-Private Partnerships: Strategies for Turbulent Times (Routledge Critical Studies in Public Management). (Eds: Greve, Carsten and Hodge, Graeme), Routledge, pp. 33-56. ISBN 978-0415539593 [Book section]

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Abstract

This chapter examines how Public Private Partnerships (PPPs) have been affected by the global financial crisis (GFC). After briefly discussing PPPs, particularly with reference to risk, the chapter outlines their contribution to the development of worldwide public infrastructure and highlights some initiatives designed to assist projects following the withdrawal of credit. It then analyses the effect the GFC has had on United Kingdom (UK) PPPs by investigating approximately 630 projects to assess whether difficulties in obtaining finance brought about by the crisis has led to a delay in PPPs reaching financial close. The findings confirm that PPPs currently in procurement are finding it more difficult to achieve financial close than pre-GFC projects and that therefore there are fewer PPPs now underway. The chapter concludes by looking at the future of PPPs in the UK following the change of government in 2010.

Item Type:Book section
Faculties and Schools:Ulster Business School > Department of Accounting, Finance and Economics
Ulster Business School
Research Institutes and Groups:Business and Management Research Institute
ID Code:24706
Deposited By: Mr Anthony Wall
Deposited On:05 Feb 2013 09:59
Last Modified:05 Feb 2013 09:59

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