Port public–private partnerships (PPPs) are an important emerging mechanism for port development and improvement in port performance especially for developing countries. In a new port study of PortEconomics member Francesco Parola and PortEconomics associate member Jasmine Siu Lee Lam, along with Photis M. Panayides (Cyprus University of Technology), entitled “The effect of institutional factors on public–private partnership success in ports”, empirically investigate the effects of institutional factors in the success of port’s PPPs; the latter defined as the attractiveness of the PPP project for private bidders and the market competitiveness of the facility.
The empirical investigation of a large sample of ports finds that ‘regulatory quality’, ‘market openness’, ‘ease to start a business’, and ‘enforcing contracts’, are important institutional determinants of port PPP success and may ultimately contribute to port development and economic growth. The results of the study are consistent with and add to the theoretical literature whereas practical implications for port authorities, managers and investors are discussed.
You may freely download authors’ version @ PortEconomics.eu.
