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Public-private partnership (PPP) renegotiations and their outcomes have been studied extensively in Latin America and Europe but not in the United States. Therefore, this study evaluates factors triggering U.S. PPP renegotiations by examining six highway PPPs located in California (2), Indiana (1), and Virginia (3). The findings suggest exogenous macroeconomic shocks, project and political complexity, and institutional inexperience are the most compelling triggers behind U.S. PPP renegotiations. These findings also highlight America's distinct political and institutional environment – i.e. favourable to buy-outs as well as debt restructuring via bankruptcy – as a possible explanation for the absence of opportunism among U.S. PPP renegotiations. [ABSTRACT FROM AUTHOR]

This study examines how institutional change affects public-private partnership (PPP) market maturity. Using a novel Time Differencing Qualitative Comparative Analysis (QCA) method, the institutional settings of 19 different PPP markets across Latin America and the Caribbean (LAC) were analysed between 2009 and 2014. The results show enhancing the regulatory framework and institutional knowledge are necessary in order to increase PPP market maturity in most cases. However, a deteriorating investment climate coupled with a weaker regulatory framework led to declines in PPP market maturity. This suggests that the influence of institutional change on PPP market maturity is not symmetrical. [ABSTRACT FROM AUTHOR]

Many public–private partnership (PPP) projects around the world suffer from poor risk allocation, questionable technical studies, cost underestimation, and inaccurate demand forecasts. To address these issues, some scholars have suggested public authorities adopt more flexible contracts. However, given their limited use to date, questions about the overall efficacy of flexible contracts persist. To test their suitability for PPPs, this article reassessed the least present value of revenue (LPVR) model—a flexible-term contract that dynamically changes based on project revenues. The capacity of the LPVR model to address variations in both demand and project costs was tested under different scenarios by modeling historical financial data from an operating highway PPP in Peru. The results suggest the LPVR model can effectively mitigate demand risk but cannot adequately address unexpected cost variations commonly found in greenfield projects. This means the LPVR model may be better suited for brownfield projects in emerging markets that have consolidated demand and limited construction risk. [ABSTRACT FROM AUTHOR]

Sovereign development funds (SDFs) and strategic investment funds (SIFs) have become increasingly important investment vehicles for sustainable development. This article explores how the design and governance of these funds align institutional capital with large, long-term investments such as infrastructure, all while yielding high commercial returns for institutional investors. Using the National Investment and Infrastructure Fund (NIIF) of India as a case study, this article demonstrates how SIFs can crowd-in private capital into strategic assets via collaborative investment models. The study thus offers a blueprint for how large, longterm institutional capital can be channeled into long-term projects that support economic growth and innovation. [ABSTRACT FROM AUTHOR]

Objective: This study aims to clarify the association between prosperity and the coronavirus disease (COVID-19) outcomes and its impact on the future management of pandemics. Methods: This is an observational study using information from 2 online registries. The numbers of infected individuals and deaths and the prosperity rank of each country were obtained from worldometer.info and the Legatum Institute's Prosperity Index, respectively. Results: There is a combination of countries with high and low prosperity on the list of COVID-19-infected countries. The risk of the virus pandemic seems to be more extensive in countries with high prosperity. A Spearman's rho test confirmed a significant correlation between prosperity, the number of COVID-19 cases, and the number of deaths at the 99% level. Conclusion: New emerging pandemics affect all nations. In order to increase the likelihood of successfully managing future events, it is important to consider preexisting health security, valid population-based management approaches, medical decision-making, communication, continuous assessment, triage, treatment, early and complete physical distancing strategies, and logistics. These elements cannot be taught on-site and on occasion. There is a need for innovative and regular educational activities for all stakeholders committed to safeguarding our future defense systems concerning diagnostic, protection, treatment, and rehabilitation in pandemics, as well as other emergencies. [ABSTRACT FROM AUTHOR]

Although infrastructure public-private partnerships (PPPs) have become increasingly popular globally, they face their own institutional challenges in transition economies. This paper highlights some of these challenges by examining the (in)formal factors affecting Kosovo's first PPP in the waste management sector, Ecohigjiena sh.p.k. Drawing upon semi-structured interviews with executives, senior managers, and administrative personnel from Ecohigjiena sh.p.k, the Tax Administration of Kosovo (TAK), and the municipality of Gjilan, the case analysis shows the PPP ultimately faced insurmountable internal and external difficulties, including low levels of professionalism, challenging legal frameworks, poor communication/trust between partners, and inadequate enforcement of regulations. [ABSTRACT FROM AUTHOR]

Although learning is the foundation of improved policymaking, little is known about policy learning in transportation programs. To address this knowledge gap, this article explores how two structural factors – (1) restricted information dissemination through centralized decision-making structures and (2) high senior civil servant turnover – affected policy learning in Colombia's road concession programs. Using a case-based research design, our analysis indicates that centralized decision-making structures and high senior civil servant turnover impeded policy learning in Colombia's first three road concession programs. Conversely, the absence of these factors in the fourth program led to policy learning and improved programmatic outcomes. [ABSTRACT FROM AUTHOR]

Infrastructure public-private partnerships (PPPs) are dominantly seen as part of an increasingly fragmented and uncertain public management paradigm known as New Public Governance (NPG). However, the effects of institutional maturity on PPP utilization within this domain remain understudied. In order to (re)define PPPs within the NPG paradigm, we develop a PPP institutional maturity model based on three institutional capabilities-legitimacy, trust, and capacity. We then use the U.S. PPP market as a case example to explore how the maturity of PPPs in an institutional setting depends on legitimacy, trust, and capacity in the PPP model. [ABSTRACT FROM AUTHOR]