Abstract
PurposeThis article critically analyses the extent to which selected Public-Private Partnerships (PPPs) transportation projects in the Caribbean subregion embrace good practices and how they benefit the public sector.Design/methodology/approachThe article begins with the general rationale of PPPs, leading to a discussion on the specific challenges of the Caribbean subregion and an assessment of certain critical projects. The sample cases include the L F Wade International Airport in Bermuda, the cruise berthing and cargo port redevelopment project in the Cayman Islands, and the Sanger International Airport in Jamaica. There are five aspects to the critical assessment: (a) an evaluation of the type of PPP arrangement used; (b) the legal/policy framework; (c) financial implications; (d) accountability; and (e) miscellaneous data. Desk-based research is conducted as supported by both international and local sources to convey a uniquely local perspective in this under-researched area of scholarship.FindingsPPP frameworks in the Caribbean are improving quickly but remain a work in progress. Jamaica leads the region. Bermuda trails behind. Problems of legal compliance with frameworks and limited market engagement persist, leading to risk management problems.Originality/valueThis article fills a literature gap on critical analysis of individual Caribbean PPP transportation projects. Previous reports, mostly by international organisations, cover regional or sectorial trends. Other sources take a descriptive but not critical approach.
Highlights
Public-Private Partnerships (PPPs) are methods to provide public goods, works and services
Critical assessment of the selected projects This section critically evaluates the sample according to five variables: the type of arrangement used, the regulatory framework, the financial implications of PPPs, the accountability mechanisms and miscellaneous data
IMF-commissioned research concluded that most Caribbean countries have frameworks which do not assess fiscal risks at key project stages (Queyranne et al, 2019), with Jamaica being the only exception among the sample
Summary
Public-Private Partnerships (PPPs) are methods to provide public goods, works and services. Sangster is a Jamaican transportation PPP involving the Government of Jamaica and the Vancouver Airport Services Consortium to deliver management, operations, financing and capital improvements of the airport, with assets reverting back to public ownership after 30 years (The World Bank et al, 2017).
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