Exploring interactions among PPP institutional variables along market maturity levels
研究了69个PPP市场中制度变量间的互动关系，发现采购透明度和汇率风险管理在低和高成熟度市场产生正向协同，而中等成熟度市场协同较弱，为政策干预提供依据。
Institutional variables and their interactions shape public-private partnership (PPP) market performance. However, the dynamic nature of these interactions has been largely overlooked, limiting opportunities for improving PPPs’ effectiveness. Drawing on institutional bricolage and social network analysis, we examine the interplays between institutional variables in 69 PPP markets. The results show that fair and transparent procurement and currency risk management drive positive synergies at the low and high ends of the market maturity spectrum. Institutional variable synergies are weaker in markets of medium maturity. Policy interventions can leverage the synergies uncovered at respective maturity levels to improve the PPP institutional environment.