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PPP for public infrastructure in Italy: opportunity and challenges

Nunzia Carbonara (Department of Mechanic, Mathematic and Management, Polytechnic of Bari, Bari, Italy)
Roberta Pellegrino (Department of Mechanic, Mathematic and Management, Polytechnic of Bari, Bari, Italy)

Managerial Finance

ISSN: 0307-4358

Article publication date: 7 November 2014

Abstract

Purpose

The purpose of this paper is to provide a comprehensive understanding of the Public Private Partnerships (PPP) in Italy in order to highlight challenges and opportunities for a more effective adoption of PPP in Italy. In particular we analyze three key aspects that affect the PPP adoption and implementation, namely the institutional, organizational, and financial ones, and their changes over time.

Design/methodology/approach

To reach the aim, we have conducted an empirical research, gathering qualitative and quantitative relevant information, to characterize three key dimensions affecting the PPP adoption and its effective implementation, namely the institutional, organizational, and financial dimension.

Findings

The analysis of PPP in Italy reveals that, although it is a relatively recent practice, its use is widely spread in delivering public infrastructures. Nevertheless, there are still some shortcomings, related to administrative, financial, and legal issues, that make the application and use of PPP, although considerable in size, less effective and efficient in Italy than in some other countries. In order to overcome these limitations, different interventions are required in order to strength the practices and advance the body of knowledge.

Practical implications

The study formulates useful recommendations for an effective implementation of PPP based on the analysis of the main constraints for the PPP's development in Italy.

Originality/value

The study overcomes the gap of the existing literature on the Italian PPP that have analyzed the phenomenon under two different approaches. Some researchers have investigated the key aspects characterizing PPPs, by adopting a mono-dimensional perspective. Other studies have analyzed the extent of adoption and diffusion of PPP in Italy, by presenting data on PPP projects by sector and/or by types. This paper contributes to fill this gap by providing both a comprehensive analysis of PPP, based on three key dimensions characterizing the PPP adoption and implementation, as well as by presenting an updated picture of the PPP in Italy.

Keywords

Citation

Carbonara, N. and Pellegrino, R. (2014), "PPP for public infrastructure in Italy: opportunity and challenges", Managerial Finance, Vol. 40 No. 11, pp. 1078-1094. https://doi.org/10.1108/MF-03-2014-0074

Publisher

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Emerald Group Publishing Limited

Copyright © 2014, Emerald Group Publishing Limited