{"title":"From turnpikes to toll-roads: a short history of government policy for privately financed public infrastructure in Australia","authors":"Sebastian Zwalf","doi":"10.1080/17487870.2020.1716754","DOIUrl":null,"url":null,"abstract":"ABSTRACT Australia has been a world leader in the use of privately financed public infrastructure projects (PFPI), otherwise known as public private partnerships (PPPs), since their first use in the modern-PFPI-era commencing in 1980. This article argues that Australian PFPI has evolved through four key phases and tracks the key inflection points in debate. Critical dimensions in these phases include the enabling policy apparatus, tax status, competitive tension, risk transfer, accounting treatment, value-for-money, government guarantees and hybrid finance. It suggests that the evolution of PFPI policy can be attributed to political tendencies, responses to public scrutiny and advances in technical approaches.","PeriodicalId":51737,"journal":{"name":"Journal of Economic Policy Reform","volume":"25 1","pages":"103 - 120"},"PeriodicalIF":3.3000,"publicationDate":"2020-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/17487870.2020.1716754","citationCount":"4","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Economic Policy Reform","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/17487870.2020.1716754","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"DEVELOPMENT STUDIES","Score":null,"Total":0}
引用次数: 4
Abstract
ABSTRACT Australia has been a world leader in the use of privately financed public infrastructure projects (PFPI), otherwise known as public private partnerships (PPPs), since their first use in the modern-PFPI-era commencing in 1980. This article argues that Australian PFPI has evolved through four key phases and tracks the key inflection points in debate. Critical dimensions in these phases include the enabling policy apparatus, tax status, competitive tension, risk transfer, accounting treatment, value-for-money, government guarantees and hybrid finance. It suggests that the evolution of PFPI policy can be attributed to political tendencies, responses to public scrutiny and advances in technical approaches.
期刊介绍：
The Journal of Economic Policy Reform focuses on the analysis of economic policy reform. The journal draws upon what lessons can be learned from the successes and failures of countries undertaking reforms and how existing theories can be developed to shed light on positive as well as normative aspects of the reform process. The Journal of Economic Policy Reform encourages work from economists and political economy analysts on policies to promote growth and reduce poverty, intellectual property rights, aid versus trade, debt and debt relief, taxation and social security systems, surveys of key reform issues, as well as on corruption, democracy, emerging markets and the role of multilateral institutions.
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