Daito, Nobuhiko, Zhenhua Chen, and Marian Moszoro. 2014. Paper presented at the 2014 Fall Research Conference of the Association for Public Policy Analysis and Management, November 6-8, Albuquerque, New Mexico.
Author: aschapp1
Graduate Research Associates Nobuhiko Daito and Jeong Yun Kweun presented posters at the Association for Public Policy Analysis and Management (APPAM) Fall Research Conference held November 6-8, 2014 in Albuquerque, New Mexico. The APPAM Fall Research Conference is a multi-disciplinary annual research conference that attracts the highest quality research on a wide variety of important current and emerging policy and management issues. The conference is comprised of panels, roundtables, workshops, symposia and poster presentations, and is designed to encourage substantive interaction among participants. The Center was pleased to contribute content to this important gathering.
Public-Private Partnerships under Fiscal Distress and Political Contestability, presented by Nobuhiko Daito.
On October 27, 2014, the prestigious International Transport Forum (ITF) kicked off its P3 Renegotiation roundtable at Mason’s campus in Arlington, Virginia. The forum, called Private Partnerships for Transport Infrastructure: Renegotiations, How to Approach Them and Economic Outcomes, was hosted by George Mason University in collaboration with ITF and the World Bank. Center Director, Professor Jonathan Gifford, led the Center’s team in presenting a paper entitled PPP Renegotiation Experiences in the U.S.
Renegotiation of P3s is a common occurrence and can have a significant impact on value for money on a project. Since P3s are complex, substantial and costly financial structures, with legal documentation alone often stretching to several hundred pages, the process is challenging at best. Those who argue against renegotiation of P3s on any grounds and those who believe renegotiations are unavoidable and useful contribute to an ongoing debate on the topic.
The ITF Roundtable sought to review:
- the outcomes and risks most often associated with renegotiation in practice,
- the alternatives available for addressing uncertainty and incompleteness in contracts,
- elements for maximizing the chance that renegotiation will deliver net welfare benefits, and
- economic welfare impacts when termination and bankruptcy is preferred to renegotiation.
Other key presentations at the ITF roundtable include:
- Marian Moszoro, Mr. Gonzalo Araya, Ms. Fernanda Ruiz-Nuñez, and Mr. Jordan Schwartz, University of Berkeley, USA and Kozminski University, Poland; Ministry of Transport and Telecommunications, Chile; World Bank, USA. Paper title: Institutional and Political Determinants of Private Participation in Infrastructure.
- Jose Luis Guasch, Mr. Daniel Benitez, Ms. Irene Portabales, and Mr. Lincoln Flor; World Bank, USA. Paper title: Lessons learned from the experience in transport contract renegotiations in Latin America.
To see video of Professor Gifford’s presentation, click here.
Mr. Marian Moszoro (Univ CA at Berkeley),
Mr. Ronald Fischer (University of Chile),
Mr. Michael Burnett (Chair – European Institute of Public Administration),
Mr. Jose-Luis Guasch (The World Bank),
and Prof Jonathan Gifford (George Mason University)
(ITF) Roundtable at Mason’s campus in Arlington, Virginia.
On September 17, Professor Jonathan Gifford briefed state government officials from across the United States on the evolution of P3s and state best practices at a meeting of the CSG Transportation Policy Academy. Topics covered include P3 market conditions in the United States, P3 characteristics and trends, best practices for policy makers, and continuing policy discussions and P3 evaluation. Professor Gifford also advised the group of the resources available through the Center, namely research projects, white papers, graduate education, conferences and forums. Professor Gifford’s presentation is available for download here.