Determinants of public-private partnership governance structures: evidence from India
基于2330个印度PPP项目数据，用有序逻辑回归分析发现经济财政因素、交易成本和项目特征主要驱动私人部门风险转移，而政治和制度因素影响很小。
Public-private partnerships (PPPs) represent a continuum of governance structures characterized by wide variability in private sector risk transfer. Despite the widespread adoption of PPPs, few studies examine the reasons for such heterogeneity. We investigate the factors explaining variability across PPP governance structures and their impact on the extent of private sector risk transfer using ordinal logistic regression on a novel dataset of 2330 Indian PPP projects. We find that the risk transfer is mainly driven by economic and fiscal factors, service-specific transaction costs and project-specific factors, while political factors and institutional quality barely influence it.