IPPP – Risks and opportunities An economic perspective

A working paper written with Julie de Brux (Sorbonne Business School and VINCI Concessions) on institutionalised public-private partnerships (waiting for the French Société d'Economie Mixte à Opération Unique).

« IPPP - Risks and Opportunities: an Economic Perspective », avec Julie de Brux, Document de travail OFCE, n° 2014-11, mai 2014, 26p.

http://www.ofce.sciences-po.fr/pdf/dtravail/WP2014-11.pdf

This WP analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer, or additional financial cost, they may induce some intrinsic risks, related to alterations of the contractual incentive structure and judicial challenges. Based on economic theory, we stem some recommendations and comments about the adequacy of legal requirements with economic normative views.