Advancing Public Interest in Public-Private Partnerships of State Highway Development
Principal Investigator:
Zhirong Zhao, Assistant Professor, Humphrey Institute of Public Affairs
Project Summary:
Many states are facing increasing demand for new capacity on highways and thus are eagerly exploring Public-Private Partnership (PPP) options such as Design-Build-Finance-Operate, Build-Operate-Own, or Build-Operate-Transfer, in state highway development. These PPP options allow public agencies to access private project financing and specialized expertise, and thus save public investment, expedite project completion, and improve service quality and diversity. Nevertheless, the path of PPPs is not smooth. The confusion and controversy surrounding recent concession cases in the United States have led to widespread public concerns and legislative caution on the question of whether a PPP project is advancing the public interest.
In this project researchers will study the public interest associated with PPP (in terms of both outcome and procedure), with the goal of maximizing efficient gains, mitigating potential risks, and addressing related public concerns. Drawing from experiences in the United States and abroad, the study will begin with a taxonomy of PPP options. For each option, we will analyze public benefits, associated risks, and possible approaches to mitigate these risks. Moreover, we will conduct an archive study to examine related public concerns and will also discuss potential strategies to address these concerns at different stages of PPP decisions.
Sponsor:
Project Details:
- Start date: 06/2009
- Project Status: Active
- Research Area: Transportation and the Economy
- Topics: Economics, Program Development and Management