Public Private Partnerships for Infrastructure and Business Development Principles, Practices, and Perspectives

by Vecchi, Veronica; Caselli, Stefano; Corbetta, Guido

• ISBN13: 9781137487827
• ISBN10: 1137487828
• Format: Hardcover
• Copyright: 2015-09-10
• Publisher: Palgrave Macmillan

Summary

In our market economy, under ordinary conditions, infrastructure development is funded by public budgets and enterprise development is funded by private investors. However, public budget constraints, liquidity shortages, the equity gap, and increasing global competition have led to alternative approaches, especially in areas targeted for economic growth and development. In response, there has been an upward global trend in the creation of public private partnerships (PPPs) that allow public and private interests to share resources and support development.

Public Private Partnerships for Infrastructure and Business Development explores the main forms of partnerships between public and private operators from an international perspective, shedding light on their strengths and shortcomings. Written by a team of experienced professionals and knowledgeable academics, this book is ideal for scholars and practitioners in the fields of public policy design and implementation, finance and banking, and economic development. It offers a brand new approach to PPP, surpassing the overlay between PPPs and infrastructure to explore the multifaceted phenomenon, with particular reference to the expanding financial dimension.

Author Biography

Stefano Caselli is Vice Rector for International Affairs and Full Professor of Banking and Finance at Bocconi University, Italy. He is one of the founders of Bocconi Monitor on Public Private Partnerships and author of several international scientific publications, especially dedicated to venture capital and private equity. He also serves as independent director on several boards of corporations and financial institutions.

Guido Corbetta is Full Professor of Corporate Strategy at Bocconi University, Italy, where he also holds the chair AIdAF-EY of Strategic management in family business and serves as scientific director of the Monitor on Public Private Partnership at Bocconi. He has covered several institutional positions at Bocconi Universty as well as in International scientific networks.

Veronica Vecchi is Professor of Public Management at Bocconi University, Italy, where she teaches Business Government Relations and Public Private Partnerships. She is Director of Executive Education of Bocconi India and coordinates Bocconi Monitor on Public Private Partnership and SDA Bocconi Impact Investing Lab. She is author of several scientific publications on public private partnerships.

Table of Contents

1. The Public-Private Partnerships' Framework; Veronica Vecchi, Stefano Caselli, Guido Corbetta
PART I: PRIVATE CAPITAL FOR INFRASTRUCTURE
2. What Drives Private Participation in Infrastructure Developing Countries?; Marian Moszoro, Gonzalo Araya, Fernanda Ruiz-Nuñez, and Jordan Schwartz
3. Public Investment as a Driver of Economic Development and Growth: What Is the Appropriate Role of Public-Private Partnerships?; Mark Hellowell
4. Preparing and Structuring Bankable PPP Projects; Christoph Rothballer, Philipp Gerbert
5. International Trends in Infrastructure Finance; Raffaele Della Croce, Stefano Gatti
6. Attracting Private Investors: The EU Project Bond Initiative and the Case of A11 Motorway; Veronica Vecchi, Francesca Casalini, Stefano Gatti
7. Public-Private Partnerships for Transportation: Infrastructure Development in the United States; Rick Geddes, JH Foote
8. PPP in the Airport Infrastructure: A Case Analysis from an International Perspective; Alessandro Fusellato, Fulvio Lino Di Blasio
9. Public Private Partnerships for Energy Infrastructure: A Focus on the MENA Region; Isabella Alloisio, Carlo Carraro
10. The Role of Public-Private Partnerships (PPPs) in Scaling Up Financial Flows in The Post-Kyoto Regime; Giulia Galluccio
PART II: PUBLIC INITIATIVES FOR BUSINESS DEVELOPMENT
11. Access to Finance for SMEs and Entrepreneurs: Trends and Policies in OECD Countries; Sergio Arzeni, Lucia cusmano, Virginia Robano
12. SMEs Access to Credit: Are Government Measures Helpful for Constrained Firms?; Annalisa Ferrando, Monica Rossolini
13. Government Intervention in the Venture Capital Market; Douglas Cumming, Sofia Johan
14. Key Ingredients for an Efficient and Effective Public-Private Equity Fund; Fabio Sattin
15. Impact Investing: A New Asset Class or a Societal Refocus of Venture Capital?; Veronica Vecchi, Francesca Casalini, Luciano Balbo and Stefano Caselli
16. The Rise of Sovereign Wealth Funds: Definition, Organization, and Governance; Bernardo Bortolotti, Veljko Fotak, William L. (Bill) Megginson
17. European Way to Sovereign Funds: A Comparison among CDP, KfW and CDC; Guido Corbetta, Gimede Gigante
18. Public Private Partnerships: The Case of the Agencies for Local Development; Giancarlo Canzanelli, Vincenzo Milio