Private Participation Research Articles

Cross-Border Communication and Private Participation Projects: The Role of Genealogical Language Distance

This paper investigates the impact of genealogical language distance in cross-border communication on private participation infrastructure projects. Our analysis of 5440 projects in 64 countries (1990–2004) shows that the probability of success of private participation projects is lower in countries characterized by a larger genealogical language distance. We also find that this effect is weaker when the project involves a local investor or the host country government. In contrast, the same effect is strengthened when the project is greenfield. Finally, including the host country government as an investor in the project has no moderating effect in the effect of genealogical language distance on private participation projects.

｢사회기반시설에 대한 민간투자법｣ 입법평론

｢사회기반시설에 대한 민간투자법｣ 입법평론

Climate risk and private participation projects in infrastructure

PurposeThe purpose of this paper is to investigate the impact of climate risk on the success vs failure of foreign direct investments (FDIs) in private participation infrastructure (PPI) projects. The authors also consider the extent to which project-level characteristics mitigate such risks.Design/methodology/approachThe authors study a sample from the World Bank covering 18,846 projects in 111 countries from 2004 to 2013. The authors apply logistic regressions to determine the impact of climate risk and mitigating project characteristics on project failure.FindingsThe authors find that higher levels of climate risk at the host country level are associated with higher risk of project failure. The authors also find that the disadvantage of higher climate risk is weakened by two project-level characteristics, namely, the inclusion of host government ownership in the project consortium and the size of the project.Originality/valueThe research contributes to the current debate about the impact of climate risks on international business ventures. The authors demonstrate that climate risk is a locational disadvantage for FDI in PPI projects. The authors establish that the “fittest” projects in locations characterized by higher climate risk tend to be those that involve host government participation in their ownership structure as well as those of larger sizes.

Making Sense of “Views” Culture in Television News Media in India

ABSTRACTThe initiation of economic reforms in the 1990s led to major recastings in the media-state-market relationship in India. Looking specifically at the television news media space, the age-old monopoly of the state broadcaster Doordarshan was challenged by the mushrooming of a host of private television news media. Private participation in the television news sector was in sync with the logic of market capitalism. Market-based news model radically altered the nature of production, representation and consumption of news. This paper makes an inquiry into one such predominant aspect of news production, the ascendancy of views/opinion based prime time programming in television news media, in contemporary India. Through a series of semi-structured interviews with journalists, the paper attempts to make sense of the reasons, the nature and significance and the likely impact of such programming on the nature of public discourse in India.

Public-Private Partnerships in Mexico, Panama, and Brazil: A Focus on Port Performance

Purpose - This study examines the relationship between public-private partnerships and the performance of ports based on three factors: the quality of the port infrastructure, container throughput, and logistic performance in three Latin American countries, Mexico, Panama, and Brazil, for the period of 1994-2017. Design/methodology - The selected countries are top ranked in terms of container throughput in Latin America. The methodology employs secondary data from the World Bank (Quality of Port Infrastructure, Logistics Performance Index, and Private Participation in infrastructure database). Findings - Overall, the results revealed that the private investment of these countries varies significantly over the past couple decades. Panama, with the least public-private investment over the study period, performs better than Mexico and Brazil with regards to port quality infrastructure and container throughput. For ports in the selected countries to keep up with global competition, there is a need to enhance efficiency. Originality/value - Compared with ports in Asia, Latin American ports are lagging behind with respect to container throughput and efficiency. This study suggests greater collaboration from the private sector, academia, and other organizations, as well as a review of the regulatory framework to ensure better transparency and project allocation. Throwing more light on the public-private investment environment of Mexico, Brazil, and Panama, this study offers policy makers and regulators insightful information on port infrastructure.

한국 도시주거지 재생사업의 활성화 방안에 관한 연구 : 일본 도시재생의 법과 제도 및 도시개발사례를 중심으로

A study on the laws, systems and development cases of urban regeneration in Japan, which are prior to urban regeneration and urban development, foresaw the development measures of urban residential regeneration projects in Korea. To this end, Japan’s Special Act on Urban Regeneration was compared with Korea’s Urban Regeneration Act, which was enacted in 2013. In particular, the Private Urban Regeneration Project, which is being embodied in Japan’s Special Act on Urban Regeneration, proposed the need to revise the Urban Regeneration Act as it did not specify support and deregulation in Korea In order to find out the need for a private-centered urban development project, Japan’s representative Odaiba, Rock Peak Hills, and Evisgarden Place development projects were analyzed. As a measure to revitalize urban housing regeneration projects in Korea, firstly, it was suggested that private participation for private capital and technology inducement is needed, secondly, urban-based and central-town urban regeneration projects linked to regional economy and job creation should be promoted, and third, that competitiveness should be secured through complex urban housing regeneration projects.The purpose of this study is to analyze the development of the Urban Regeneration Act and the Urban Regeneration Act in Japan.

Taking a Holistic Exploration of the Project Life Cycle in Public–Private Partnerships

Operations and projects are typically treated as dichotomous concepts; projects create assets to be operated. The segregation of operations from projects is evidenced in the generic project life cycle (concept, feasibility, design, execute, and close) in which consideration of an operations stage is omitted. This article, however, suggests that this omission renders the generic project life cycle (PLC) unsuitable as a frame of reference for managing (and researching) long-term public infrastructure projects, in particular those delivered under the auspices of private participation in infrastructure initiatives such as public–private partnerships (PPPs). Drawing on the normative literature and the authors’ phenomenological research that is embedded in practice, this article demonstrates that operations are an inherent feature of PPP projects. Thus, the generic PLC model is inconsistent with the actuality of PPPs. Implications of this inconsistency for operations management and research of PPPs, particularly in relation to quality, risk, and human resource management are identified and discussed.

Effects of Public- Private Participation in infrastructure on GDP & inflation rate in Sub-Saharan Africa for the period 1990-2017

Effects of Public- Private Participation in infrastructure on GDP & inflation rate in Sub-Saharan Africa for the period 1990-2017

Effects of resale in second-price auctions with private participation costs

We consider second-price auctions with participation costs and investigate the effects of resale after an auction. There are two potential bidders whose valuations are commonly known. Bidders incur a privately known cost to participate in the auction. We examine how resale affects bidders’ entry behavior, seller’s expected revenue, and social welfare. We show that resale increases (decreases) entry by the lower-(higher-)value bidder, inducing a “more symmetric” equilibrium, and generates higher revenue for the seller. Furthermore, while resale may be detrimental to ex post welfare, it always increases the ex ante welfare.

Willingness to take contractual risk in port public-private partnerships under economic volatility: The role of institutional environment in emerging economies

Port infrastructure investment environment is becoming increasingly volatile. Opportunities and challenges coexist and make port investment in view of economic volatility an interesting and important topic to study. A popular form of port investment is public-private partnership (PPP). It refers to a contractual arrangement between public agencies and private companies for works and services traditionally provided by the government. This paper aims to empirically investigate impacts of major economic recessions on private investors’ willingness to take port infrastructure PPP contractual risk in emerging economies given a fixed set of institutional environments. Multi-group structural equation modelling is employed and data mainly from the World Bank Private Participation in Infrastructure (PPI) database is tested in the model. Findings show that there is less impact of institutional factors after the 2008 financial crisis. Governmental intervention with quality institutional environment is an effective strategy in attracting private investors in ports.

Special report: Summary of the first meeting of African Blood and Marrow Transplantation (AfBMT) group, Casablanca, Morocco, April 19–21, 2018 held under the auspices of the Worldwide Network for Blood and Marrow Transplantation (WBMT)

The first meeting of the African Blood and Marrow Transplantation (AfBMT) was held in Casablanca from April 19, 2018 to April 21, 2018, with the aim of fostering hematopoietic stem cell transplantation (HSCT) activity in Africa. Out of the 54 African countries, HSCT is available only in six (Algeria, Egypt, Morocco, Nigeria, South Africa, and Tunisia). During this meeting, African teams and international experts from the Worldwide Network for Blood and Marrow Transplantation (WBMT) gathered to share their experience and discussed ways to help fill the gap. Nurses and patients held their meeting in parallel. International support and collaboration can help by providing expertise adapted to local resources and regional population needs. Local engagement including government and private participants are necessary to initiate and develop local HSCT capability.

Transmigration Area Development and Its Community In Indonesia

Abstract
 Since the beginning, the great idea of transmigration program has actually been directed towards exploiting, processing and development of the two major potential resource, namely: (1) the potential of natural resources and (2) the potential of human resources. Since its implementation, the transmigration program has shown success in improving the living standards and welfare of the population and the development of previously untapped areas, although in some locations and regions it also shows the lack of success caused by various problems. At least there are three major domains of transmigration areas and community development in the future, namely: (1). Develop undeveloped regions into new productive and growing areas in accordance with its natural resource potential including New Transmigration Settlements (PTB) and New Integrated Self-establishment City (KTM). (2). Developing the existing transmigration area becoming the new growth centers of the region through the development of Integrated Self-establishment City (KTM). (3). Improving the welfare of smallholders and poor farm workers through the provision and control of production assets (land). Community and transmigration areas development in the future should be based on 5 basic principles, those are : (1). Development of land and human resources. (2). Development of sustainable agriculture system. (3). Development of business activities based on agribusiness range. (4). Development of private participation, cooperatives, State Owned Enterprises (BUMN) and individual farmers / transmigrants. (5). Integrated area development. Investment in physical development and institutional innovation in development of transmigration areas should be done gradually by following the stadia of regional development which generally consists of: Stadia I, II, III, IV, V, VI. There are two conditions that can be realized through development of transmigration areas in the future, namely: (1). First, to realize a more equally and equitable development. (2). Second, to realize a competitive nation. At least six policy direction in the construction and development of society and transmigration areas in the future. First, pay particular attention to the elements of the development of the competitiveness of the region. Second, strengthening the new orientation to provide support to: (a) Increased public income, (b) food security and board needs, (c) Creation of employment opportunities. Third, the mainstreaming of Integrated Self-Establishing City (KTM) from the planning process to the development of the area. Fourth, focusing and prioritizing the development of communities and transmigration areas. Fifth, enhancing cross-sectoral and local government participation in the planning and implementation of development of communities and transmigration areas. Sixth, increasing community independence in transmigration area.
 
 Keywords: Basic principles, Integrated self-establishing city, policy direction, stadia of regional development.

Enforcement of Amended Criminal Procedure Law in China: Unbalanced Power Relations between Public and Private Participants

In a move towards a more liberal criminal justice system, the Chinese criminal procedure law (CPL) was amended in 2012 to redistribute the power between state agents and private participants. However, the enforcement of this law is still influenced by the power imbalance between the public and private participants. This article argues that strong authorities together with weak social participation have led to the emergence of several trends in the enforcement of the amended CPL. This article concludes by reflecting on the unbalanced relationships between public and private participants, and reveals the underlying causes.

THE INTERACTIONS AND TRADE-OFFS OF SOVEREIGN CREDIT DEFAULT SWAP (CDS) AND BOND SPREADS IN A DYNAMIC CONTEXT

This study provides a dynamic analysis of the lead-lag relationship between sovereign Credit Default Swap (CDS) and bond spreads of the highly indebted southern European countries, considering an extensive time sample from the period before the global financial crisis to the latest developments of the sovereign indebtedness in the euro area. We employ an integrated price discovery methodology on a rolling sample, with the intention to shed light on whether the CDS spreads can trigger rises in bond spreads, and the relative efficiency of credit risk pricing in the CDS and bond markets. In addition, we attempt to depict the evolution of the price discovery process regarding the direction of influence from one market to the other. The rolling window analysis verifies that the price discovery process evolves over time, presenting frequent alternations concerning the leading market. We find that during periods of economic turbulence the CDS market leads the bond market in price discovery, incorporating the new information about sovereign credit risk faster and more efficiently than the bond market does. This regularity should be seriously considered by private and public participants as they make investment and funding decisions. Therefore, the motivation of our paper is to identify the dominant market in terms of price discovery during a period of economic turmoil and, thus, to provide insights for decision making to investment bodies and central governments.

A Fusion Mechanism for Management Decision and Risk Analysis

This study introduces a fusion mechanism by incorporating a risk metric with two-level data envelopment analysis (two-level DEA) for describing a corporate’s operation status and then constructs a hybrid model that combines rough set theory with artificial fish swarm algorithm (RSAFSA) and fuzzy support vector machine (FSVM) in order to forecast corporate operating performance. The introduced mechanism, supported by real-life cases, can assist both public and private market participants who must allocate their economic resources to suitable places as well as maximize their personnel wealth under anticipated risk exposure.

Protecting the Public Form the Private? – Disenchantment Over the Private Non-delegation Doctrine

Using private entities to achieve regulatory goals has been a long-standing American practice. However, having gone through all factors indicated by Supreme Court’s decision of Amtrak (2015), it seems that these factors of private non-delegation doctrine are either too formalist or too ambiguous or too lax, which cannot substantively help the courts to protect the public interest from the private entities’ self-interest. Hence, the courts should not rely too much on private non-delegation doctrine to provide enough judicial check on administrative rule-making and adjudication process involving private participation. Under the background of pervasive public-private collaborative governance, a more realistic approach is to admit the impotence of private non-delegation doctrine on its own. We still need the private non-delegation doctrine to decide whether the recipient of the delegation is private or public entity, which will lead to different types and levels of scrutiny. But, to substantively check the constitutionality of private participation in the regulatory process, we should embrace a structural inquiry constituted by multiple constitutional doctrines, including but not limited to the Due Process Clause, the Appointments Clause and the State Action Doctrine, etc.

The way to induce private participation in green finance and investment

Establishment of green credit guarantee schemes (GCGSs) and returning a portion of the tax revenue originally generated from spillover effect of green energy supply to investors. It can reduce the risk of green finance and increase the rate of return of green energy projects, respectively. In addition, technical developments in the sphere of distributed ledger technologies provide the opportunity to increase the transparency in green finance and investments. This paper contributes to literature by proposing two applied frameworks, backed by theoretical models on green finance and investment based on projects size. The objective is to induce the private participation in green finance and investment.

Sustainable solid waste management in developing countries: a study of institutional strengthening for solid waste management in Johannesburg, South Africa

This paper discusses the impacts of solid waste on human health and environmental wellbeing in Johannesburg, South Africa. Using both secondary and primary data collected through semi-structured interviews with members of a local community of Windsor, municipal officials and other stakeholders involved in solid waste management (SWM) in Johannesburg, it finds that mismanagement of solid waste negatively affects the urban environment and human health, leading to reduced productivity and economic growth. Further, it is argued that ineffective SWM must be seen as a consequence both of institutionalised failure to implement and enforce urban policies and regulations and a parallel failure to recognise the importance of private agents and community participation in urban development and management. Developing an effective and sustainable SWM system in Johannesburg requires city authorities to devolve resources and authority to local level along with clear guidelines and strategies to strengthen local management processes.

Impact of Fourth Public Private Partnership Road Program in Colombia: Analysis of Accessibility, Goods Transportation Costs, and Territorial Cohesion Changes

The public private partnership model in Colombia has been the main vehicle to promote the development of transportation infrastructure during the last 20 years. Currently, the national government is developing the Fourth Public Private Partnership Road Program (4G) with a total investment of COP$53B (US$26,530) in 2013 and an average total length of 7,601 km (4,723 mi). In the development of this paper it will be quantified how 4G projects will change accessibility, goods transportation costs, and territorial cohesion in a future scenario when the road network will be finished. This goal will be supported by the creation of a database design in the geographic information system taking into account economic and technical characteristics to evaluate the accessibility and a generalized transport cost function ([Formula: see text]) in each link covering the whole road network, as well as gross domestic product (GDP) in each project region. As a result, it is important to note that 4G projects will represent an important change and positive impact in variables of corridors in the national road network. Even if the results show that some regions will receive benefits, this research also shows that some regions will not present changes in accessibility, [Formula: see text], and territorial cohesion because the 4G corridors do not cover the whole country, but the advantages in some regions will encourage the country’s competitiveness, which could not be reality without the support of private participation. Finally, this research provides enough insight to outline a new program that could enhance accessibility, [Formula: see text], and GDP in the regions.

Analysis on the perceived occurrence of challenges delaying the delivery of water infrastructure assets in South Africa

PurposeMinimal private participation for infrastructure development continues to affect developing economies like South Africa. This study aims to determine the perceived occurrence of challenges delaying the delivery of water infrastructure assets and the role of both public and private financing for infrastructure development.Design/methodology/approachQuantitative approach was used, and questionnaires were administered to stakeholders that have participated in delivering water infrastructure assets in South Africa. Of the 96 returned questionnaires, 91 were usable, representing 61 per cent response rate. Data from the survey were analysed using descriptive and exploratory factor analyses. The reliability test represented a value of 0.945, indicating internal consistency.FindingsData analysis revealed that corruption, hostility, weak project structuring, high fiscal deficits by state government, cost recovery constraints, high credit risk for private financing and unreliable planning and procurement processes are major challenges delaying the delivery of water infrastructure assets. More so, municipal government remains the key custodian of water infrastructure delivery with limited support from private capital as a result of political administrative instability, legislation and policy uncertainty and inadequate risk-adjusted returns.Originality/valueEmphasis should be made on eradicating corruption and non-transparent financial management to improve municipal creditworthiness and amending and implementing much improved legislation and foreign inclusion. Additionally, financial models to complement the existing mechanisms of financing water infrastructure projects should be sought and used. Complete eradication of infrastructure challenges envisages to reduce fiscal deficits, improve service delivery and enhance the competitiveness and productivity of the economy.