The effect of institutional factors on public-private partnership success in ports
Panayides, Photis M.
Lam, Jasmine Siu Lee
Date of Issue2015
School of Civil and Environmental Engineering
Port public–private partnerships (PPPs) are considered to be an important emerging mechanism for port development and improvement in port performance especially for developing countries. This paper empirically investigates the effect of institutional factors in the success of port’s PPPs; the latter defined as the attractiveness of the PPP project for private bidders and the market competitiveness of the facility. The empirical investigation of a large sample of ports finds that ‘regulatory quality’, ‘market openness’, ‘ease to start a business’ and ‘enforcing contracts’ are important institutional determinants of port PPP success and may ultimately contribute to port development and economic growth. The results are consistent with and add to the theoretical literature whereas practical implications for port authorities, managers and investors are discussed.
Transportation research Part A : policy and practice
© 2014 Elsevier Ltd. This paper was published in Transportation Research Part A: Policy and Practice and is made available as an electronic reprint (preprint) with permission of Elsevier. The paper can be found at the following official DOI: [http://dx.doi.org/10.1016/j.tra.2014.11.006]. One print or electronic copy may be made for personal use only. Systematic or multiple reproduction, distribution to multiple locations via electronic or other means, duplication of any material in this paper for a fee or for commercial purposes, or modification of the content of the paper is prohibited and is subject to penalties under law.