Effects of Multilateral Support on Infrastructure PPP Contract Cancellation

• Tác giả: Darwin Marcelo
• Ngôn ngữ: eng
• Ký hiệu phân loại: 658.16 Reorganization and dissolution of enterprises
• Thông tin xuất bản: World Bank, Washington, DC, 2016
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 317150
• Chủ đề: 1. contract cancellation; 2. multilateral support; 3. multilevel model; 4. propensity score matching; 5. public-private partnership

Tóm tắt

This paper examines the relationship between multilateral support and contract cancellation in long-term infrastructure public-private partnerships. The analysis draws on a large data set and employs a multi-level econometric model to define propensity scores and matching estimators to compare rates of cancellation between projects with multilateral support and a comparison group of public-private partnership projects without multilateral support. The results suggest that multilateral support has a positive effect on the survival of long-term public-private partnership infrastructure contracts. Whereas observed the data suggest that multilateral support has no effect on cancellation rates, a quasi-experimental approach shows that the cancellation rate for projects with multilateral (6 percent) would have been about 48 percent higher without support from multilateral development organizations.