Engel, E., Fischer, R., Galetovic, A. (2020).
Public-Private Partnerships: Some Lessons after 30 Years. Regulation, 43, 30.
Public-private partnerships (PPPs, also known as P3s and concessions) emerged in recent decades as a new organizational form to provide public transport infrastructure. Around the world, traditional provision continues to be the dominant procurement option, but investment in PPPs over the last 30 years has been substantial, adding E203 billion of infrastructure spending in Europe and $535 billion of spending in developing countries. Most investments are in roads, seaports, and airports, but in some countries investment via PPPs has been significant in other types of infrastructure, such as hospitals and schools. In comparison, PPP investments in the United States have been small. The post-COVID-19 world will probably bring a renewed impetus to PPPs, and it is possible that the United States will jump on the bandwagon.