Article by Anthony M. Bertelli, Valentina Mele, Andrew B. Whitford.
This article addresses the question of the failure of infrastructure PPPs. It addresses two main research questions. What defines failure for infrastructure PPPs? What conditions make failure more likely?
The authors distinguish between failure of projects as a state condition and the sources of risk for the public and private partners that account for failure. They provide a brief discussion of nine different risk categories (including political risk, legal and regulatory risk, financial risk) and claim that political risk is the primary concern, particularly for private sector participants in developing and transitional countries.