Public-Private Partnerships (PPPs) are mostly presented as a means to introduce efficient procurement methods and better value for money to taxpayers. However, the complexity of the PPP mechanism, their lack of transparency, accounting rules and implicit liabilities make it often impossible to perceive the amount of public expenditure involved and the long-run impact on taxpayers, providing room for fiscal illusion, i.e., the illusion that PPPs are much less expensive than traditional public investments. This psaper, thanks to a systematic review of the literature on the EU countries experience, tries to unveil the sources of this illusion by looking at the reasons behind the PPPs’ choice, their real costs, and the sources of fiscal risks. The literature suggests that PPPs are more costly than public funding, especially when contingent liabilities are not taken into account, and are employed as mechanisms to circumvent budgetary restrictions and to spend off-balance. The paper concludes that the public sector should share more risks with private sectors by reducing the amount of guarantees, and should prevent governments from operating through a sleight of hand that deflects attention away from off-balance financing, by applying a neutral fiscal recording system.

The recent development of characteristic towns has encountered a multitude of challenges and chaos. Nevertheless, there have been many instances of information asymmetry due to the absence of an effective management model and an intuitive digital management system. Consequently, this has caused the erosion of public interests and inadequate supervision by public agencies. As society is progressing at a rapid pace, there is a growing apprehension regarding poor management synergy, outdated management practices, and limited use of technology in traditional construction projects. In today's technologically sophisticated society characterized by the “Internet+” and intelligent management, there is an urgent requirement to identify a more efficient collaborative management model, thereby reducing errors caused by information asymmetry. This paper focuses on the integration of building information modeling (BIM) and integrated project delivery (IPD) for collaborative management within characteristic towns in the PPP mode. By analyzing the available literature on the application status, this study investigates the implementation methods and framework construction of collaborative management while exploring the advantages and disadvantages. On this basis, this study highlights the problems that arise and provides recommendations for improvement. Considering this, the application of the BIM-based IPD model to characteristic towns in PPP mode will enhance the effectiveness of collaborative management among all parties involved, thereby fostering an environment that facilitates decision-making and operational management in the promotion of characteristic industries.

As Bangladesh faces its current energy crisis, public-private partnerships (PPPs) emerge as a promising solution, bridging the strengths of both sectors toward a brighter, more electrified future. This research focuses on the challenges in Bangladesh’s power sector: increasing electricity demand and the imperative for a consistent supply of renewable energy sources. The research employs content analysis, exploring various aspects, including policy documents, regulatory frameworks, stakeholder engagements, and resource assessments, with a specific focus on three key variables: regulatory framework, stakeholder engagement, and informed policymaking. Drawing on the ‘resource-based view’ theory, the study emphasizes the significance of ‘mitigating resource risks’ through ‘resource assessment.’ Empirical support is derived from an extensive review of literature in reputable journals and research articles, enhancing the research’s credibility with real-world evidence. The study provides a practical roadmap for stakeholders navigating Bangladesh’s power sector, addressing energy challenges, and promoting sustainability.

The use of infrastructure as a catalyst for Indonesia’s economic growth faces significant challenges. One example is the construction projects, which have not reached the intended goal and have led to an increase in investment cost compared to the original plan. Additionally, the interaction between the government and companies involved in toll-road construction projects under the public-private partnerships (PPP) mechanism has yet to produce good quality project governance and expected project performance. This study aimed to find empirical data on the determination of project intellectual capital and project ownership structure through good project governance on toll-road project performance in Indonesia. This study adopted a quantitative approach that involved data collected through a survey conducted among toll-road projects from 2015 to 2019. The data was analyzed with Structural Equation Modeling Partial Least Square (SEM-PLS). The results showed that project intellectual capital and project ownership structure significantly affected good project governance. Good project governance Practices significantly affected project performance. Project intellectual capital and project ownership structure influenced project performance through the mediation of good project governance. Conversely, two hypotheses were not supported by the data, i.e., the effect of project intellectual capital and project ownership structure on project performance. The findings of this research contributed to the literature regarding the implementation of collaborative governance in PPPs toll road development projects in Indonesia by providing a framework and assessment tools, which could be valuable for researchers and policymakers in analyzing and evaluating the governance and performance of toll road construction PPP projects.

Public-private partnerships (PPPs) were established in Brazil at the beginning of this century, following a global trend of using these partnerships to stimulate investment in infrastructures, particularly in a framework of restrictive budgetary and fiscal conditions. Despite their growing importance and the expectation of an expanding role in the future, not much is known about the actual facts on the ground. The objective of this paper is to be a first step in the direction of filling this information gap by providing important stylized facts about the universe of PPPs in Brazil: the quantitative evolution of PPP adoptions; the characterization of the geographical distribution of PPPs by government level (federal, state, district, and municipal); the characterization of the PPP intervention areas, including the total value of contracts and the modalities of PPP concession (sponsored and administrative). This objective is rendered possible by the development of a new database that covers the entire process of PPP contracting from 2005 to 2022, including the opening of public consultation procedures, the publication of the official notice, and the signing of contracts, as well as multiple thematic, financial, jurisdictional, and regional indicators. In turn, we see the establishment of these stylized facts as a necessary first step in the direction of understanding the factors that may determine or condition their adoption. In general, having a clear picture of the universe of the PPPs in Brazil is fundamental as their use and their role are expected to significantly increase in the future as the country pursues a path of improved economic activity and well-being of the population.

This article explores the development and legislative process of concession agreements within the framework of Public-Private Partnerships (PPPs) in the EU, tracing their origins to the United Kingdom in the early 1990s. Driven by national policies, the Ministry of Finance in China has promoted PPPs in infrastructure and public services. This study focuses on the basic principles, legal nature, and general rules of EU concession agreements, aiming to provide legal strategies for Chinese franchising agreement legislation by drawing on the EU’s legislative experiences.