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|z 9781484307700
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Buffie, Edward.
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|a Macroeconomic Dimensions of Public-Private Partnerships /
|c Edward Buffie, Michele Andreolli, Bin Grace Li, Luis-Felipe Zanna.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2016.
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| 300 |
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|a 1 online resource (49 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a The voluminous literature comparing public-private partnerships (P3s) and own-investment (OI) by the public sector is dominated by contributions from microeconomic theory. This paper gives macroeconomics a voice in the debate by investigating the repercussions of P3 vs. OI in a dynamic general equilibrium model featuring private capital accumulation and involuntary unemployment with efficiency wages. Typically P3s cost more but produce higher-quality infrastructure and boast a better on-time completion record than OI; consequently, they are comparatively more effective in reducing underinvestment in private capital, underinvestment in infrastructure, unemployment and poverty. The asymmetric impact on macro externalities raises the social return in the P3 2 - 9 percentage points relative to the social return to OI, depending on whether the externalities operate singly or in combination and on whether P3 enjoys an advantage in speed of construction.
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|a Mode of access: Internet
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|a Andreolli, Michele.
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|a Li, Bin Grace.
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|a Zanna, Luis-Felipe.
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|a IMF Working Papers; Working Paper ;
|v No. 2016/078
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2016/078/001.2016.issue-078-en.xml
|z IMF e-Library
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