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The global financial crisis and UK PPPs

Ciaran Connolly (Queen's University Management School, Queen's University Belfast, Belfast, UK)
Tony Wall (Ulster Business School, University of Ulster, Newtownabbey, UK)

International Journal of Public Sector Management

ISSN: 0951-3558

Article publication date: 23 August 2011

Abstract

Purpose

This paper seeks to examine how Public Private Partnerships (PPPs) have been affected by the global financial crisis (GFC). After briefly discussing PPPs and the GFC, the paper considers whether the latter has been a contributing factor in the declining number of projects reaching financial close.

Design/methodology/approach

The paper employs document content analysis to compare the time between notification of a project in the Official Journal of the European Union and its financial close in order to assess whether this period has increased since the beginning of the GFC. Two case studies are also presented.

Findings

Apart from a very small number of projects, the time between official project notification and financial close is lengthening, with the case studies providing some possible explanations for this.

Originality/value

Whilst Burger et al. provide some general statistics on the impact of the GFC on PPPs in a number of countries, this paper examines over 600 PPPs in the UK and supplements this analysis with two case studies, in order to assess whether the GFC has led to delays in projects reaching financial close.

Keywords

Citation

Connolly, C. and Wall, T. (2011), "The global financial crisis and UK PPPs", International Journal of Public Sector Management, Vol. 24 No. 6, pp. 533-542. https://doi.org/10.1108/09513551111163648

Publisher

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Emerald Group Publishing Limited

Copyright © 2011, Emerald Group Publishing Limited