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Recovery Risk and Labor Costs in Public-Private Partnerships : Contractual Choice in the US Water industry
Albalate, Daniel, 1980-; Bel i Queralt, Germà, 1963-; Geddes, R. Richard
We use an ordered logistic model to empirically examine the factors that explain varying degrees of private involvement in the U.S. water sector through public-private partnerships. Our estimates suggest that a variety of factors help explain greater private participation in this sector. We find that the risk to private participants regarding cost recovery is an important driver of private participation. The relative cost of labor is also a key factor in determining the degree of private involvement in the contract choice. When public wages are high relative to private wages, private participation is viewed as a source of cost savings. We thus find two main drivers of greater private involvement: one encouraging private participation by reducing risk, and another encouraging government to seek out private participation in lowering costs.
Aigua
Política hidràulica
Privatització
Contractació externa
Política de despeses públiques
Water
Water politics
Privatization
Contracting out
Government spending policy
cc-by-nc-nd, (c) Albalate et al., 2012
http://creativecommons.org/licenses/by-nc-nd/3.0/
Documento de trabajo
Universitat de Barcelona. Institut de Recerca en Economia Aplicada Regional i Pública
         

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