Review of Successful Global Public-Private Partnerships: Extracting key Strategies for Effective U.S. Financial Collaborations

Review of Successful Global Public-Private Partnerships: Extracting key Strategies for Effective U.S. Financial Collaborations

Bisola Beatrice Oguejiofor¹, Ngozi Samuel Uzougbo², Abosede Olusade Kolade³, Ahmed Raji⁴, Chibuike Daraojimba⁵

¹Independent Researcher, Lagos, Nigeria
²The Ohio State University, USA
³Department of Marketing and Bus., Texas A&M University, Commerce Texas, USA
⁴Greenlight Planet (Sun King Solar), Nigeria
⁵Graduate School of Technology Management, University of Pretoria, South Africa

DOI: https://doi.org/10.51244/IJRSI.2023.10826

Received: 21 August 2023; Accepted: 29 August 2023; Published: 25 September 2023

ABSTRACT

Public-Private Partnerships (PPPs) have emerged as vital mechanisms for driving economic and infrastructural growth, offering a collaborative model that leverages the strengths of both the public and private sectors. This paper delves into the intricacies of PPPs, focusing on their evolution, global trends, applications in the U.S. financial landscape, and future directions. The U.S. PPP landscape, characterized by its unique political, economic, and social context, is influenced by various factors including governance, performance management, and the evolving public sector needs. Drawing on international experiences, the paper highlights potential sectors in the U.S. ripe for PPPs, such as infrastructure development, urban infrastructures, and state investment banks, among others. The work underscores the significance of understanding and adapting successful global strategies to the U.S. context, emphasizing that insights from global PPP successes can inform and optimize domestic efforts. However, challenges specific to the U.S., such as political and regulatory barriers and public perception of PPPs, warrant careful consideration. Addressing these challenges requires a multifaceted approach, encompassing strengthened legal frameworks, active citizen participation, and the adoption of best practices from successful global PPP models. The paper anticipates a dynamic evolution of PPPs, influenced by technological advancements, socio-political changes, and emerging economic needs by forecasting future trends based on current global shifts. Recommendations are provided to bolster U.S. involvement, leadership, and innovation in this domain to position the U.S. as a global leader in PPPs. The paper culminates in emphasizing the transformative potential of PPPs in driving U.S. economic and infrastructural growth, while highlighting the paramount importance of a globally informed and adaptive approach to ensure the long-term success and sustainability of PPP initiatives.

Keywords: Public-Private Partnerships, U.S. Financial Landscape, Global Strategies, Infrastructural Growth, Regulatory Frameworks.

INTRODUCTION

In the current global economy, public-private partnerships (PPPs) are playing an increasingly important role in driving sustainable growth, particularly in areas that require joint resources, expertise, and risk-sharing. PPPs have been shown to bring innovation, efficiency, and substantial financial resources into various projects, ranging from infrastructural development to healthcare initiatives. However, the strategies employed by different countries for successful PPPs vary significantly. The United States, with its dynamic private sector and influential global presence, stands to benefit greatly from collaborative approaches such as PPPs. To maximize the potential of PPPs in the U.S. context, it is crucial to analyse and adapt strategies from successful global PPPs. This review aims to dissect these successful global PPPs and extract pivotal strategies that can be applied effectively in the U.S (Wandfluh et al., 2015).

The study by Wandfluh et al. (2015) focuses on financial collaboration in the supply chain and highlights the importance of cross-company alignment of financing processes, strategy, and decisions in improving financing efficiency and effectiveness. The study emphasizes the need for collaboration between purchasing and finance departments within organizations, as well as collaboration between buyers and suppliers in a supply chain dyad. The results indicate that both intra-firm financial collaboration and inter-organizational financial collaboration have a significant positive effect on overall financing performance (Wandfluh et al., 2015). Another study by Almarri & Abu-Hijleh (2017) explores the critical success factors (CSFs) for PPPs in the construction industry, specifically in the United Arab Emirates (UAE) and the United Kingdom (UK). The research highlights the advantages of PPPs, including efficiency, quality, innovation, experience, funds, and risk-sharing. These advantages make PPPs attractive not only to developed countries but also to less privileged countries seeking international PPP contracts. The study identifies local financial market, macroeconomic conditions, and a favourable legal framework as major factors influencing the success of PPPs (Almarri & Abu-Hijleh, 2017).

In the healthcare sector, there is a need for evidence-based guidelines and a coordinated management strategy for patients with persistent postoperative pain after lumbar spine surgery (Weir et al., 2017). This highlights the importance of collaboration between healthcare providers, policymakers, and other stakeholders in developing effective healthcare initiatives through PPPs. By analysing successful global PPPs and adapting their strategies, stakeholders in the U.S. can forge partnerships that maximize public value while ensuring the financial feasibility and sustainability of projects (Wandfluh et al., 2015). This review aims to provide an in-depth understanding of these strategies, equipping stakeholders with the knowledge needed to implement effective financial collaborations in the U.S. context.

Definition of Public-Private Partnerships (PPPs)

Public-Private Partnerships (PPPs) are contractual arrangements between a government entity and a private party, aimed at developing and managing public infrastructure and services (Sani, 2021). The World Bank’s “PPP Reference Guide 2.0” broadly defines PPP as a long-term contract in which the private party bears significant risk and management responsibility, and remuneration is linked to performance (Liu et al., 2018).

The private party in a PPP typically delivers and funds public services using a capital asset, sharing the associated risks with the government (Sani, 2021). PPPs aim to provide the best service at the lowest cost (Liu et al., 2018). PPPs allow for the allocation of resources, skills, and financial assets between the public and private sectors in a complementary manner, with the aim of delivering optimal service delivery and value to citizens (Sani, 2021). These partnerships enable the government to leverage private sector expertise and resources, while the private sector benefits from a stable and long-term contractual relationship with the government (Podgorny, 2019). PPPs are particularly relevant in countries facing challenges that require flexibility, diversification of activities, and new opportunities for financing large infrastructural projects (Dechev, 2015). PPPs have gained popularity worldwide, with countries like the United Kingdom being leaders in their implementation (Podgorny, 2019).

However, the success of PPPs depends on various factors, including effective risk allocation, clear contractual arrangements, and robust governance mechanisms (Hodge & Greve, 2007). It is important to note that PPPs are not without criticism and challenges. Some concerns include the potential for cost overruns, lack of transparency, and the risk of transferring public assets to private entities (Hodge & Greve, 2007).

In conclusion, PPPs are contractual arrangements between the public and private sectors to develop and manage public infrastructure and services. These partnerships involve the private party bearing significant risk and management responsibility, with remuneration linked to performance. PPPs provide a means for governments to leverage private sector expertise and resources, while the private sector benefits from a stable and long-term relationship with the government. However, the success of PPPs depends on effective risk allocation, clear contractual arrangements, and robust governance mechanisms.

Importance of PPPs in the global economic landscape

Public-Private Partnerships (PPPs) play a crucial role in the global economic landscape by facilitating collaboration between the public and private sectors to address various challenges and promote economic development (Gazley, 2008). These partnerships have gained prominence due to their potential to leverage private sector expertise, resources, and innovation while ensuring efficient service delivery and infrastructure development (Gazley, 2008). One of the key benefits of PPPs is their ability to mobilize private sector investment for public projects, which can help bridge the infrastructure financing gap (Gazley, 2008). By sharing the risks and responsibilities, PPPs enable governments to undertake large-scale projects that they may not have the financial capacity to execute independently (Gazley, 2008). This collaboration allows for the efficient allocation of resources and promotes economic growth (Gazley, 2008).

Hodge & Greve (2007) emphasize the importance of PPPs in addressing public administration challenges and achieving policy objectives. They discuss the potential of PPPs in delivering public services, infrastructure development, and economic development. The authors highlight the role of PPPs in leveraging private sector expertise and resources to enhance public service delivery.

Moreover, PPPs can enhance the quality and efficiency of public services by introducing private sector management practices and innovation (Gazley, 2008). The private sector’s expertise in project management, technology, and operations can lead to improved service delivery, cost-effectiveness, and timely project completion (Gazley, 2008). PPPs also encourage competition, which can drive innovation and improve the overall quality of services (Gazley, 2008). PPPs can also foster economic development by creating employment opportunities and stimulating economic activity (Gazley, 2008). Infrastructure projects undertaken through PPPs often require a significant workforce, leading to job creation and income generation (Gazley, 2008).

Fleta-Asín & Muñoz (2021) examine the determinants of private investment in renewable energy PPPs in developing countries. They highlight the importance of economic and institutional environments in attracting private investment. The study emphasizes the role of PPPs in mobilizing private sector resources for sustainable development initiatives. While Cheng et al. (2020) discuss the impact of globalization on PPP projects and the involvement of transnational corporations in different countries. The authors highlight the role of PPPs in promoting capital flows, economic cooperation, and global production networks.

Vasyliev et al. (2019) discuss the priority-partnership approach as a mechanism for encouraging investment activities in the railway transport sector. The study emphasizes the importance of PPPs in the context of economic integration and the need for a new model of relationship between the public and private sectors. Berrone et al. (2019) propose an evaluation model for PPPs contributing to the Sustainable Development Goals (SDGs). The authors emphasize the need to consider economic, social, and environmental aspects in assessing the impact of PPPs. The study highlights the role of PPPs in addressing sustainability challenges and contributing to the achievement of the SDGs

Additionally, the development of infrastructure can attract private investment, promote trade, and enhance the overall competitiveness of a country (Gazley, 2008). However, it is important to note that the success of PPPs depends on various factors, including effective risk allocation, transparent governance mechanisms, and clear contractual arrangements (Gazley, 2008). Proper monitoring and evaluation of PPP projects are essential to ensure accountability and prevent potential issues such as cost overruns and lack of transparency (Gazley, 2008).

 In conclusion, PPPs are of great importance in the global economic landscape as they enable collaboration between the public and private sectors to address infrastructure and service delivery challenges. These partnerships leverage private sector expertise, resources, and innovation, leading to improved service quality, economic development, and job creation. However, careful attention must be given to risk allocation and governance mechanisms to ensure the success and sustainability of PPP projects.

Purpose and significance of the paper

This paper aims to examine successful global public-private partnerships and extract key strategies that can be applied to the United States for more effective financial collaborations.

Public-private partnerships have become increasingly important in the global economic landscape. As countries are being forced to be more globally policy and economic cooperation, public-private partnerships have emerged as a strategy to engage the third sector in collaborative efforts to deliver public works and services (Islam, 2015). Public-private partnerships are defined as long-term collaborations between public and private sectors, where the collaborating actors share risks and resources. These partnerships have gained recognition by the United Nations as one of the goals for sustainable development, highlighting their significance in addressing global challenges. This paper aims to identify successful global public-private partnerships and analyse the key strategies employed in these collaborations. Finally, the significance of extracting these strategies for the United States will be discussed, emphasizing the potential for more effective financial collaborations in the country.

Historical Background Of Global Public-Private Partnerships (Ppps)

This section provides a historical background of global public-private partnerships, tracing their origins and evolution over time. The origins of global public-private partnerships can be traced back to the late 20th century, when the concept emerged as a response to increasing challenges faced by governments in delivering public services and infrastructure.

Brief history of PPPs

Public-Private Partnerships (PPPs) have a rich history that dates back several decades. The concept of PPPs emerged as a response to the challenges faced by governments in delivering public services and infrastructure efficiently and effectively (Hodge & Greve, 2007).

The origins of PPPs can be traced back to the 1980s when governments around the world began to explore alternative models for delivering public services and infrastructure (Hodge & Greve, 2007). This shift was driven by various factors, including fiscal constraints, the need for innovation and efficiency, and the recognition of the private sector’s expertise and resources (Hodge & Greve, 2007).

One of the early examples of PPPs can be seen in the United Kingdom, where the government introduced the Private Finance Initiative (PFI) in the early 1990s (Hodge & Greve, 2007). The PFI aimed to involve the private sector in the financing, construction, and operation of public infrastructure projects, such as hospitals and schools (Hodge & Greve, 2007). This approach allowed the government to leverage private sector investment and expertise while transferring some of the risks to the private sector (Hodge & Greve, 2007). Another example of a historical global PPP is the establishment of the United Nations Global Compact in 2000, which brought together businesses, governments, and civil society organizations to collaborate and address societal challenges (Buse & Walt, 2000; Rasche et al., 2013)

Evolution of PPP models over time

The evolution of Public-Private Partnerships (PPPs) models over time has been influenced by various factors and has undergone significant changes. These changes have been driven by the need for more effective and efficient collaboration between the public and private sectors in delivering public services and infrastructure (Hodge & Greve, 2007).

In the early stages of PPP development, the focus was primarily on traditional models where the private sector would provide financing, construction, and operation of public infrastructure projects in exchange for long-term contracts and revenue streams (Hodge & Greve, 2007). However, as PPPs gained popularity, new models and approaches emerged to address the evolving needs and challenges.

Another significant development in PPP models is the inclusion of social and environmental considerations. PPPs now often incorporate sustainability goals, such as reducing carbon emissions, promoting social inclusion, and enhancing community engagement (Hodge & Greve, 2007). This evolution reflects the growing recognition of the importance of addressing broader societal and environmental objectives in infrastructure development.

It is important to note that the evolution of PPP models is not uniform across countries and sectors. Different countries have adopted different approaches based on their specific contexts and needs. Additionally, the evolution of PPP models is an ongoing process, with continuous learning and adaptation based on experiences and lessons learned (Hodge & Greve, 2007).

Key milestones in the development of global PPPs

Key milestones in the development of global Public-Private Partnerships (PPPs) can be observed through various events and trends over time. These milestones have shaped the evolution and implementation of PPPs worldwide.

One significant milestone in the development of PPPs is the introduction of the Private Finance Initiative (PFI) in the United Kingdom in the early 1990s (Hodge & Greve, 2007). The PFI model aimed to involve the private sector in financing, constructing, and operating public infrastructure projects. This initiative marked a shift towards greater private sector involvement in delivering public services and infrastructure.

Another milestone is the growing recognition of the importance of performance-based contracts in PPPs. Performance-based contracts link the private sector’s remuneration to the achievement of specific performance targets, such as service quality and efficiency (Koppenjan & Enserink, 2009). This approach incentivizes the private sector to deliver optimal outcomes and ensures value for money.

Furthermore, the inclusion of social and environmental considerations in PPPs is another significant milestone. PPPs now often incorporate sustainability goals, such as reducing carbon emissions and promoting social inclusion (Koppenjan & Enserink, 2009). This reflects the increasing recognition of the need to address broader societal and environmental objectives in infrastructure development.

In conclusion, key milestones in the development of global PPPs include the introduction of the Private Finance Initiative, the emphasis on performance-based contracts, and the inclusion of social and environmental considerations.

These milestones have shaped the evolution of PPPs and reflect the ongoing efforts to enhance the effectiveness and sustainability of these partnerships.

Case Studies Of Successful Global Public-Private Partnerships

This section will further provide examples of successful global public-private partnerships to illustrate this model’s benefits and outcomes. This section will further provide examples of successful global public-private partnerships to illustrate this model’s benefits and outcomes. The successful implementation of public-private partnerships can be seen in various case studies worldwide.

 European Infrastructure Development

The development of European infrastructure has been a significant focus in recent years, with various initiatives and policies aimed at promoting its growth and sustainability. The European Union (EU) has played a crucial role in supporting infrastructure development through financial, technical, and political means (Careri et al., 2022). The EU has introduced legislative acts and initiatives to drive energy infrastructure development, which is essential for achieving policy objectives and ensuring energy security (Careri et al., 2022). These initiatives include the revision of the Trans-European Networks for Energy, funding mechanisms for sustainable investments in renewable energies, and the EU taxonomy on sustainable activities (Careri et al., 2022).

Infrastructure investment has also been shown to positively impact other sectors, such as tourism. For example, a study on the effect of infrastructure investment on tourism demand in Kuelap, Peru, found that the number of visits to the archaeological complex increased significantly following the construction of a cable car system and the redevelopment of a nearby airport (Lahura & Sabrera, 2022). The infrastructure investment package led to doubling the number of visits to Kuelap (Lahura & Sabrera, 2022).

In the insurance sector, the development of European insurance market infrastructure has been driven by various factors, including financial crises, legislation gaps, and the need to improve the quality of information (Sholoiko, 2017). Elements of the European insurance market infrastructure have been established to overcome these challenges and provide participants in the insurance market with necessary information, consultations, educational services, and research results (Sholoiko, 2017).

In conclusion, the development of European infrastructure has been supported by EU initiatives and policies, particularly in the energy and insurance sectors. Infrastructure investment has positively impacted sectors such as tourism, driving economic growth and development. The collaboration between European and global infrastructure elements has also played a significant role in the development of European infrastructure.

African Health Initiatives

African health initiatives have been supported by successful global Public-Private Partnerships (PPPs) in various areas, including primary health care, infectious disease management, and health information dissemination.

PPPs in primary health care have been implemented to increase access and provide prevention and treatment services for specific target groups in Africa (Joudyian et al., 2021). These initiatives aim to address challenges in the provision of primary health care, such as resource shortages and inefficient institutional frameworks (Joudyian et al., 2021).

PPPs have successfully improved access to services and achieved positive health outcomes, particularly in managing infectious diseases like malaria, tuberculosis, and HIV/AIDS (Joudyian et al., 2021).

In the context of health information dissemination, PPPs have played a role in eliminating information disparities and improving health education in African American communities (Carlson et al., 2006). These partnerships involve collaboration between community organizations, public and health sciences libraries, and lay community health advisors (Carlson et al., 2006).

Furthermore, social responsibility initiatives have been identified as important factors in PPPs for sustainability and positive public perception (Osei-Kyei et al., 2019). These initiatives focus on areas such as environmental health and safety, poverty reduction, sanitation, education, and transparency (Osei-Kyei et al., 2019).

Successful global PPPs have contributed to developing and implementing African health initiatives, addressing challenges in primary health care, infectious disease management, and health information dissemination. These partnerships have improved access to services, achieved positive health outcomes, and promoted sustainability and social responsibility. However, it is important to recognize that challenges may arise during PPPs’ starting and implementation phases in primary health care (Joudyian et al., 2021). Continued evaluation and learning from these initiatives are essential to further enhance their effectiveness and impact.

Asian Sustainable Energy Projects

One key aspect of successful PPPs in Asian sustainable energy projects is the collaboration between governments, private sector entities, and international organizations. These partnerships bring together various stakeholders’ expertise, resources, and networks to drive sustainable energy initiatives (Careri et al., 2022). For example, the European Union (EU) has actively supported sustainable energy projects in Asia through financial assistance, technical expertise, and policy guidance (Careri et al., 2022).

Furthermore, PPPs have been instrumental in mobilizing private sector investment for sustainable energy projects in Asia. The private sector’s involvement brings financial resources, technological innovation, and operational expertise (Ying et al., 2021). This collaboration helps overcome the financial barriers associated with sustainable energy projects and accelerates their implementation (Ying et al., 2021).

Successful PPPs in Asian sustainable energy projects have also focused on capacity building and knowledge sharing. These partnerships aim to enhance the skills and capabilities of local stakeholders, including government officials, project developers, and communities (Sawleshwarkar & Negin, 2017). Capacity building initiatives include training programs, workshops, and knowledge exchange platforms that promote the transfer of best practices and lessons learned (Sawleshwarkar & Negin, 2017).

Successful global PPPs have played a vital role in advancing sustainable energy projects in Asia. These partnerships have fostered collaboration, mobilized private sector investment, facilitated capacity building, and supported the development of policy frameworks. By leveraging the expertise and resources of multiple stakeholders, PPPs have contributed to the successful implementation of sustainable energy initiatives in the region.

South American Urban Development Initiatives

South American urban development initiatives have benefited from successful global Public-Private Partnerships (PPPs) that have facilitated their implementation and contributed to sustainable urban growth.

One area where PPPs have played a significant role in South American urban development is in addressing climate change and promoting sustainable energy projects. Inequality, communication, and coordination are crucial factors in the success of global public goods provision, such as containing the rise in global mean temperature (Tavoni et al., 2011). PPPs have been instrumental in coordinating national contributions and distributing costs equitably in the face of uncertainty, inequality, and free-riding incentives (Tavoni et al., 2011). These partnerships have facilitated the mobilization of resources and expertise to support sustainable energy projects in South America.

Governance is another important aspect of successful PPPs in South American urban development initiatives. Effective governance is crucial for the commitment to continue cooperation in PPPs (Hafidh, 2022). The government plays a significant role in partnerships with the private sector, and the specific needs of the government determine the model of cooperation (Hafidh, 2022). PPPs in South America have been implemented through various models, including service contracts, management contracts, concessions, affirmations, and Build Own Operate and Transfer (BOOT) arrangements (Hafidh, 2022).

In the context of South American urban development, PPPs have been instrumental in enhancing border security and addressing security challenges. Effective collaborations between border security authorities, other government departments, and the private space technology industry have played a crucial role in addressing security challenges across South America’s land borders (Agbenyegah & Agbenyegah, 2021). Space technology has been recognized for its significant role in monitoring and controlling national territories, disaster management, communication, and traffic management (Agbenyegah & Agbenyegah, 2021).

In conclusion, successful global PPPs have contributed to South American urban development initiatives by promoting sustainable energy projects, enhancing governance, and addressing security challenges. These partnerships have facilitated the coordination of efforts, resource mobilisation, and sharing expertise between the public and private sectors. By leveraging the strengths of both sectors, PPPs have played a crucial role in driving sustainable urban growth in South America.

Key Strategies For Effective Ppps

One key strategy for effective PPPs is the establishment of clear and comprehensive legal and regulatory frameworks (Kwak et al., 2019). These frameworks provide a transparent and stable environment for private sector participation, ensuring that contractual agreements are enforceable and risks are appropriately allocated. Another key strategy for effective PPPs is ensuring strong governance and accountability mechanisms. These mechanisms help prevent corruption, ensure transparency in decision-making processes, and hold all parties accountable for their actions.

Another important strategy for effective PPPs is robust project preparation and evaluation (El-Gohary et al., 2006). This involves conducting thorough feasibility studies, analysing risks and rewards, and ensuring that projects are aligned with the overall goals and priorities of the public sector. In addition, it is crucial to prioritize effective communication and collaboration among all stakeholders throughout the entire project lifecycle.

This ensures that all parties are informed and involved in decision-making processes, leading to greater buy-in and cooperation.

Public-private partnerships have become a worldwide mechanism for implementing public and social policy due to their efficiency and effectiveness in achieving sustainability goals (Sari et al., 2019; Okudan & Budayan, 2021).

Alignment of Objectives

One important strategy for effective PPPs is the alignment of objectives between the public and private sectors.

This involves ensuring that both parties clearly understand the desired outcomes and are working towards a common goal. By aligning objectives, the public and private sectors can collaborate more effectively, leading to better project outcomes and increased efficiency in resource allocation (Magalhães et al., 2020). Another key strategy for effective PPPs is the optimal sharing of risks between the public and private sectors (Alonazi, 2017). This involves carefully assessing and allocating risks based on each party’s capacity and expertise, ensuring that neither party is burdened with excessive risk. Furthermore, the involvement of large private and well-structured joint ventures is crucial for the success of PPPs (Sarvari et al., 2019). These private entities often bring expertise, resources, and innovative ideas to enhance project delivery and performance.

Risk Sharing

One of the critical factors for success in PPPs is the optimal sharing of risks between the public and private sectors (Sarvari et al., 2019). PPPs can avoid excessive risk burden on either side by carefully assessing and allocating risks based on each party’s capacity and expertise. This ensures a fair distribution of risks and allows both the public and private sectors to contribute their strengths in managing those risks. Moreover, a clear legal and regulatory framework is essential for the success of PPPs. This framework should outline each party’s rights, responsibilities, and obligations in the partnership, providing a solid foundation for collaboration and dispute resolution.

Clear Communication

Clear communication is another crucial factor for the success of PPPs (Helmy et al., 2020). It is important for all parties involved in the partnership to have open and transparent communication channels, ensuring that information is effectively shared and understood. In addition, political and social support is vital for the success of PPPs.

This support ensures that the project is aligned with government priorities and has public acceptance, enhancing its chances of success. In conclusion, the critical success factors of PPPs include optimal risk-sharing between the public and private sectors, involvement of large private and well-structured joint ventures, political and social support, transparent processes, business viability and feasibility study of a project, proper risk allocation among stakeholders, regulatory and legal framework foreseeing the possibility of renegotiating contracts to cover unforeseen contingencies, and clear communication among all parties involved (Nasios & Foradoula, 2021).

Stakeholder Engagement

Stakeholder engagement is another critical factor for the success of PPPs. Engaging all relevant stakeholders, including end-user stakeholders, is crucial to ensure their input and involvement in decision-making (Magginas et al., 2018). Their perspectives and needs should be taken into consideration to ensure that the PPP project is aligned with their objectives and expectations. Additionally, selecting appropriate PPP projects is important for success. Selecting appropriate PPP projects involves conducting comprehensive feasibility studies and assessing the business viability of the project (Al-Saadi & Abdou, 2016). This helps to determine whether the project is financially sustainable and can deliver the desired outcomes.

In order to achieve a viable solution, PPPs must also be well-designed within a clear legal and regulatory framework that allows for the possibility of renegotiating contracts to cover unforeseen contingencies.

Financial Transparency

Financial transparency is a critical factor that contributes to the success of PPPs. Financial transparency ensures that all financial transactions and decisions related to the PPP project are open, accountable, and easily accessible to all stakeholders. This transparency builds trust and confidence among stakeholders, mitigates the risk of corruption, and facilitates effective monitoring of financial performance. In conclusion, the critical success factors of PPPs include optimal risk-sharing between the public and private sectors, involvement of large private and well-structured joint ventures, political and social support, transparent processes, business viability and feasibility study of a project, proper risk allocation among stakeholders, regulatory and legal framework foreseeing the possibility of renegotiating contracts to cover unforeseen contingencies, clear communication among all parties involved, stakeholder engagement, and financial transparency.

Performance Monitoring

Performance monitoring is another critical factor for the success of PPPs. Effective monitoring of the performance of a PPP project ensures that it is progressing as planned and delivering the expected outcomes. This monitoring can include regular reporting on key performance indicators, conducting audits to assess compliance with contractual obligations, and evaluating the overall effectiveness of the project. Monitoring the performance of a PPP project is essential in ensuring its success and achieving the desired outcomes. In addition, the participation of social capital plays a crucial role in the success of PPP infrastructure projects. It has been found that the involvement of social capital, such as community/public support and stakeholder engagement, positively impacts the success of PPP projects.

Applications For U.S. Financial Collaborations

In the study of key success factors for PPP projects in various countries, several factors have been identified as critical to their success. These factors include financial market maturity, transparency of the regulatory framework, participation of social capital, and improved design of PPP contracts (Liu et al., 2021). This section will discuss the applicability of these factors in the context of U.S. financial collaborations.

Current landscape of PPPs in the U.S.

Various factors shape the current landscape of Public-Private Partnerships (PPPs) in the U.S. and have been the subject of extensive research and analysis. PPPs in the U.S. have been examined from different perspectives, including their purposes, publicness, governance, and performance management.

One study by Brinkerhoff & Brinkerhoff (2011) explores PPPs’ purposes, publicness, and good governance. The authors highlight the need for conceptual clarity and integration in the literature on PPPs. They discuss the features of PPPs and their potential to achieve specific purposes such as policy, service delivery, infrastructure, capacity building, and economic development.

Another study by Rhodes et al. (2012) examines the current state of performance management in the public sector in seven selected countries, including the U.S. The research assesses the factors influencing the shape and speed of public management evolution, including administrative culture, political crises, and trust in government. The study emphasizes the importance of external performance measures such as customer service and transparency objectives.

In the context of public service challenges, Wijaya et al. (2023) discuss the impact of the COVID-19 pandemic on local public service and the challenges faced by public administration. The authors highlight the need to modernize and reinvigorate public service in response to the crisis of human resources and public service governance.

Furthermore, the role of pensions in recruiting state and local workers has been examined in the U.S. context. Quinby & Sanzenbacher (2020) discuss the preferences of public employees for current salary over deferred benefits, such as pensions. The study suggests that public employees may not value pension benefits at their cost, as indicated by the inelastic separation rate with respect to pension generosity.

In conclusion, the current landscape of PPPs in the U.S. is characterized by ongoing research and analysis on their purposes, publicness, governance, and performance management. Studies have examined the features and potential of PPPs, the factors influencing public management evolution, the challenges faced by public service, and the role of pensions in recruiting public employees. These research efforts contribute to a better understanding of PPPs’ current state and future directions in the U.S.

Potential sectors in the U.S. ripe for PPPs based on global successes

Potential sectors in the U.S. ripe for Public-Private Partnerships (PPPs) based on global successes include infrastructure development, urban infrastructures, investment in state banks, public sector auditing, integrated reporting, and public sector projectification.

Infrastructure development is a sector that has seen successful PPPs globally Hodge & Greve (2007). The U.S. could leverage PPPs to address its infrastructure needs, such as transportation, energy, and water management. PPPs have been effective in delivering infrastructure projects, leveraging private sector expertise and resources while ensuring efficient service delivery.

Urban infrastructures, including transportation systems, water management, and waste management, are also potential sectors for PPPs in the U.S (Koppenjan & Enserink, 2009). Successful global examples of PPPs in urban infrastructures can provide insights into effective governance models, private sector participation, and sustainability considerations.

Investment in state banks is another potential area for PPPs in the U.S (Mazzucato & Penna, 2014). State investment banks (SIBs) can play a crucial role in financing capital development, technical change, and innovation. Global experiences with SIBs can inform the establishment and operation of such partnerships in the U.S. Public sector auditing is an area where PPPs can be explored to enhance accountability and transparency (Hay & Cordery, 2017). The involvement of private sector auditing firms in public sector audits can bring external expertise and independent assessments, contributing to improved governance and performance management.

Integrated reporting, which combines financial and non-financial information to provide a comprehensive view of an organization’s performance, is another potential area for PPPs in the U.S. public sector (Villiers et al., 2020). The adoption of integrated reporting in the public sector can enhance transparency, accountability, and sustainability reporting. Lastly, public sector projectification, the increasing use of projects to organise and deliver public services, is an area where PPPs can be explored (Jacobsen, 2022). PPPs can provide valuable insights into project governance, stakeholder engagement, and risk management in the public sector.

In conclusion, based on global successes, potential sectors in the U.S. ripe for PPPs include infrastructure development, urban infrastructures, investment in state banks, public sector auditing, integrated reporting, and public sector projectification. Lessons learned from successful PPPs in these sectors can inform the design and implementation of effective partnerships in the U.S.

 Recommendations for integrating global strategies into U.S. frameworks

The critical success factors identified in the study of PPP projects can be applied to the context of U.S. financial collaborations. These factors can be used as a guideline for assessing the viability and feasibility of potential PPP projects in the U.S. Some critical factors that can enable successful PPP projects in the U.S. include financial market maturity, transparency of the regulatory framework, participation of social capital, stakeholder engagement, and financial transparency. Furthermore, developing a legal and economic framework is crucial in ensuring the success of PPP projects in the U.S. The current landscape of PPPs in the U.S. shows potential for growth and expansion in various sectors. These sectors include transportation infrastructure, renewable energy, healthcare, and education. Some potential sectors in the U.S. that are ripe for PPPs based on global successes include transportation infrastructure, renewable energy, healthcare, and education. The recommendations for integrating global strategies into U.S. frameworks include adopting best practices from successful PPP projects in other countries, developing a supportive legal and regulatory framework, and ensuring public support and stakeholder engagement in decision-making. In the context of U.S. financial collaborations, the application of key success factors for PPP projects is crucial.

In summary, the success of PPP projects in the United States relies on several critical factors such as financial market maturity, transparency of the regulatory framework, participation of social capital, stakeholder engagement, financial transparency, and a developed legal and economic framework. These factors are essential for assessing the viability and feasibility of potential PPP projects.

In the current landscape of PPPs in the U.S., there is potential for growth and expansion in various sectors such as transportation infrastructure, renewable energy, healthcare, and education.

Potential challenges and solutions specific to the U.S. context

Potential challenges specific to the U.S. context in Public-Private Partnerships (PPPs) include the need for clarity in defining public value and ensuring democratic values are prominent (Bryson et al., 2014). The U.S. context requires a focus on public problem-solving and active participation of citizens, businesses, and non-profit organizations in PPPs (Bryson et al., 2014). Additionally, challenges may arise in defining and assessing partnership approaches, distinguishing them from other relationship types, and ensuring mutual benefits and organizational identity (Brinkerhoff, 2002).

In the U.S., challenges may also arise in the context of private-public mappings, particularly in adapting private states of mind to public actions in different social contexts (Bang et al., 2020). Navigating and adapting to different mappings is crucial for successful social interaction and communication. Furthermore, challenges specific to the U.S. context may include the need to address security concerns and counteract armed aggression, as well as the impact of the COVID-19 pandemic on public-private partnerships in the security sector (Mekh et al., 2022). These challenges require effective collaboration and coordination between the public and private sectors to ensure the safety and well-being of the population.

In the public sector, challenges may arise in implementing PPPs in vocational training and skills development, ensuring systemic change and long-term sustainability (Alba & Stucki, 2021). The public sector may also face challenges in adopting and applying quality improvement methodologies, such as DMAIC (Define, Measure, Analyse, Improve, Control), which are more commonly used in the private sector (Silva & Santiago, 2021).

To address these challenges, potential solutions include strengthening the legal and policy framework, ensuring effective implementation practices, and developing supportive policy frameworks that promote adherence to contractual agreements (Nuhu et al., 2020). Additionally, fostering active participation, promoting democratic values, and enhancing public problem-solving can contribute to successful PPPs in the U.S. context (Bryson et al., 2014).

In conclusion, potential challenges specific to the U.S. context in PPPs include defining public value, navigating private-public mappings, addressing security concerns, ensuring long-term sustainability, and adopting quality improvement methodologies. Solutions involve clarifying definitions, promoting active participation, strengthening legal and policy frameworks, and fostering effective implementation practices. These efforts can contribute to the successful implementation of PPPs in the U.S. context.

FUTURE DIRECTIONS AND RECOMMENDATIONS

In order to ensure the successful implementation of PPP projects in the United States, several potential challenges and recommended solutions should be considered. The potential challenges specific to the U.S. context include political and regulatory barriers, funding constraints, and public perception and acceptance of PPPs. This section will discuss these challenges and provide recommendations for overcoming them.

Forecasting Future Trends in PPPs Based on Current Global Shifts and Developments

The evolving landscape of global dynamics presents an intriguing backdrop for anticipating future trends in Public-Private Partnerships (PPPs). From technology and infrastructure demands to sustainability goals and geopolitical shifts, diverse factors will shape the PPP paradigm in the coming decades. Here is an exploration of the likely trajectories:

1. Rise of Digital Infrastructure PPPs: In a world that is becoming ever more interconnected through digital technology, there will be a substantial surge in PPPs focusing on digital infrastructure. This encompasses broadband networks, data centres, and even the infrastructure supporting emerging technologies like 5G and edge computing. The post-pandemic era, which underscored the importance of reliable digital connectivity, will continue to drive partnerships between governments and tech companies to bridge digital divides and propel nations into the future (Tam, 2021).
2. Focus on Sustainable and Green Projects: Given the global momentum around environmental sustainability, future PPPs will be increasingly centered on green and sustainable initiatives. This means greater collaboration in areas such as renewable energy projects, sustainable transportation solutions like electric vehicle charging infrastructure, and green urban planning. Such projects will not just be environmentally oriented but will also ensure long-term economic viability, emphasizing the “sustainable” aspect in both ecological and financial terms (Liang & Wang, 2019).
3. Emphasis on Resilience and Preparedness: Lessons from global disruptions, notably the COVID-19 pandemic, will influence the design and scope of PPPs. The future will see more partnerships aimed at creating resilient systems, be it in healthcare preparedness, supply chain robustness, or infrastructure that can withstand natural disasters. A resilience-driven approach will be at the heart of future projects, ensuring societies are better equipped to handle unforeseen challenges (Baxter & Casady, 2020).
4. Rethinking Transportation and Mobility: As urbanization continues and cities become denser, the challenge of mobility will come to the forefront. Future PPPs will be at the heart of innovative transportation solutions, from hyperloops and advanced metro systems to autonomous vehicle networks. Collaborations will seek to alleviate congestion, reduce emissions, and ensure efficient mobility in urban centres (Stan et al., 2023; Velaga et al., 2012; Zailani et al., 2014).
5. Holistic Health and Wellbeing Projects: Beyond traditional healthcare infrastructure, the holistic well-being of citizens will become a priority. This will encompass hospitals and clinics and projects related to mental health, recreation, and overall urban wellness. Parks, green spaces, recreational zones, and mental health centres might see increased private sector participation in partnership with public initiatives (Carmichael et al., 2016).
6. Evolution in Contractual Frameworks: The legal and contractual frameworks governing PPPs will also evolve with rapidly changing technological and social landscapes. These might involve more adaptive contracts, with provisions for periodic reassessments, ensuring projects remain relevant amid changing scenarios. Dynamic risk-sharing mechanisms that adapt to external volatilities might also become commonplace (Hodge & Greve, 2007).
7. Geopolitical Influences: The global power dynamics and geopolitical influences will shape the nature and extent of PPPs, especially in strategically significant sectors like energy, telecommunications, and transportation. For instance, broader geopolitical alignments and concerns might influence collaborations on international infrastructure projects, like transnational railways or pipelines (Cheng et al., 2020).
8. Inclusion and Equity in Project Design: An increasing global focus on social equity will push PPPs towards projects ensuring inclusivity. This means infrastructure and services that cater not just to the urban elite but also to marginalized communities, ensuring that the benefits of development are universally accessible (Seddighi et al., 2020; Ward et al., 2018).

In essence, the future of PPPs, framed against global shifts and developments, promises to be one of innovation, adaptability, and a heightened focus on sustainability and resilience. By understanding and harnessing these trends, nations can leverage public-private synergies to craft a future that is both prosperous and equitable.

CONCLUSION

In conclusion, the success of PPP projects in the United States depends on a range of critical factors. Some key success factors include financial market maturity, regulatory framework transparency, social capital participation, stakeholder engagement, financial transparency, and a developed legal and economic framework. This section will summarize this essay’s main findings and recommendations for overcoming potential challenges and strategies for future improvement in PPP projects.

Recommendations for Bolstering U.S. Involvement and Leadership in Global PPPs

Given the rising importance of Public-Private Partnerships (PPPs) in addressing critical infrastructure, social, and environmental needs, the U.S., with its vast economic and technological capacities, is uniquely positioned to lead and shape the global PPP narrative. To strengthen its leadership role and ensure that its influence is both beneficial and transformative, the U.S. should consider the following strategic recommendations:

1. Forge Strategic International Alliances: To effectively lead in global PPPs, the U.S. should actively cultivate and nurture international alliances, both bilaterally and multilaterally. By partnering with countries and regions with complementary strengths, the U.S. can bring about projects that have multi-regional impact and significance. These alliances would not only leverage financial and technological resources but also share best practices, standards, and innovations.
2. Develop a Comprehensive PPP Knowledge Hub: Leveraging its vast academic and institutional expertise, the U.S. can establish a dedicated knowledge hub that collates, disseminates, and refines best practices in PPPs from around the globe. This centre could offer training, research, and advisory services, becoming a global go-to destination for governments and private entities keen on initiating or refining their PPP strategies.
3. Expand Financing Mechanisms: While PPPs inherently bring private financing into the mix, the U.S. can further bolster its leadership by establishing or enhancing dedicated financial mechanisms that facilitate international PPP projects. These could range from specialized funds, risk mitigation instruments, to fiscal incentives that attract private entities to invest in projects of global importance.
4. Incorporate Technology and Innovation: The U.S., being a hub of technological advancement, should prioritize the integration of cutting-edge technologies into its PPP projects. Whether leveraging AI for infrastructure management, introducing green technologies in urban projects, or utilizing block chain for transaction transparency, the infusion of technology will enhance project outcomes and position U.S.-led PPPs as the gold standard globally.
5. Strengthen Regulatory and Governance Frameworks: To inspire confidence and attract global partners, the U.S. must ensure its PPP governance structures are robust, transparent, and efficient. By showcasing a regulatory environment that balances private sector interests with public welfare and ensures accountability, the U.S. can set a benchmark for PPP governance worldwide.
6. Prioritize Sustainable and Inclusive Projects: For the U.S. to truly lead in global PPPs, the focus should be on projects that are sustainable and inclusive. Projects that address climate change, ensure social equity, and promote inclusive growth will resonate globally, amplifying the impact and appeal of U.S.-led initiatives.
7. Engage in Multilateral Dialogues and Forums: Active participation in international forums dedicated to PPPs will offer the U.S. insights into global trends and challenges and provide a platform to share its own learnings, innovations, and successes. By being a dominant voice in these forums, the U.S. can shape global PPP policies and directions.
8. Foster a Culture of Continuous Learning: The realm of PPPs is dynamic, and what works today may need adaptation tomorrow. By fostering a culture of continuous learning, periodic reviews, and adaptive strategies, the U.S. can ensure that its PPP initiatives remain relevant, effective, and impactful.

In conclusion, as global challenges become increasingly complex, the role of PPPs in addressing them becomes ever more critical. For the U.S. to bolster its involvement and leadership in global PPPs, it must draw from its vast resources and expertise and remain open to learning, collaboration, and evolution. Through strategic actions, grounded in the principles of sustainability, inclusivity, and innovation, the U.S. can truly set the pace for global PPP excellence.

Recap of the Importance of PPPs in Driving Economic and Infrastructural Growth

Public-Private Partnerships (PPPs) have emerged as pivotal instruments in driving both economic and infrastructural growth in contemporary global landscapes. Their inherent collaborative nature bridges the divide between the private sector’s capabilities and the public sector’s responsibilities, enabling a synergistic approach to complex challenges. Economic growth is significantly influenced by the stability, efficiency, and innovation of infrastructural projects, and PPPs, with their ability to pool resources, expertise, and risk, PPPs have consistently delivered high-quality infrastructure on time and within budget.

The importance of PPPs is further accentuated when considering the vast infrastructure gap that exists in many regions. Traditional public financing mechanisms often fall short of the massive investments required. By leveraging private capital and operational efficiencies, PPPs can address these financial shortfalls while also introducing innovative solutions that might not emerge from public sector processes alone.

Beyond just financial benefits, PPPs also introduce heightened accountability and performance. The private sector’s drive for profitability necessitates efficiency and effectiveness, ensuring that projects not only commence but reach completion and deliver the intended benefits. Furthermore, the diverse expertise that the private sector brings can lead to improved design, sustainability, and adaptability of infrastructural projects, essential in today’s rapidly changing environment.

Moreover, successful PPPs can act as catalysts for further investments in a broader economic context. By demonstrating the viability and profitability of projects, they can attract additional private sector interests, thereby amplifying economic growth. Additionally, well-executed infrastructure, whether in transportation, energy, healthcare, or education, plays a foundational role in enhancing overall productivity, connectivity, and quality of life. This, in turn, can spur economic activities, create jobs, and improve competitiveness, creating a positive feedback loop that further underscores the centrality of PPPs in modern economic frameworks.

The harmonious melding of public objectives with private efficiency through PPPs offers a promising pathway to accelerate economic and infrastructural growth. As nations grapple with evolving challenges, from urbanization to technological advancements, PPPs stand out as a resilient and adaptable model to drive progress and prosperity.

Emphasis on the Value of Understanding and Adapting Successful Global Strategies in the U.S. Context

The world today is intricately interconnected, and economic, technological, and infrastructural advancements in one region can have profound implications in another. This dynamic landscape necessitates a comprehensive understanding and an adaptive approach towards integrating successful global strategies, especially when considering the potential and power of Public-Private Partnerships (PPPs) in the U.S. context.

The value of studying and integrating global best practices within U.S. PPP frameworks cannot be overstated. First and foremost, drawing lessons from international success stories can provide a roadmap to avoid potential pitfalls and ensure optimal outcomes. The knowledge of how certain strategies work in varied socio-economic and political environments can be invaluable for a country as vast and diverse as the United States. Such insights can facilitate tailored approaches that consider regional disparities, ensuring that PPPs remain relevant, effective, and beneficial across different states and sectors.

Moreover, global strategies often bring to light novel approaches and methodologies that might have been overlooked within a more localized context. Embracing these strategies can propel U.S. initiatives to the forefront of innovation, setting standards not only domestically but also on the global stage. This positions the U.S. not merely as a participant but as a leader in shaping the future trajectory of PPPs worldwide.

Furthermore, understanding global strategies and their underlying principles fosters a spirit of collaboration and mutual respect on the international stage. Such a perspective recognizes the value of collective wisdom and acknowledges that even the most advanced nations can learn from the experiences of others. This collaborative ethos can lead to cross-border partnerships, enhancing the scale and impact of projects, and paving the way for multinational endeavours that transcend national boundaries.

In addition, as the U.S. seeks to bolster its economic growth, compete on the global stage, and address infrastructural gaps, it is imperative to adopt an agile mindset. Global strategies, tested and proven in diverse scenarios, offer a rich repository of adaptive mechanisms. They equip stakeholders with the tools to navigate complexities, mitigate risks, and capitalize on emerging opportunities, ensuring that PPPs remain resilient amidst changing global trends.

In conclusion, the emphasis on understanding and adapting successful global strategies within the U.S. context is not just a proactive measure but a strategic imperative. Such an approach enriches the American PPP landscape, fostering innovation, collaboration, and excellence while ensuring that the nation remains at the vanguard of economic and infrastructural advancements in the 21st century.

REFERENCE

1. Alba, J. M. d. and Stucki, V. (2021). From pilot to scale – a framework for development practitioners for market driven vocational training. International Journal of Business and Society, 22(2), 653-674. https:// doi.org/10.33736/ijbs.3749.2021
2. Almarri, K. and Abu-Hijleh, B. (2017). Critical success factors for public private partnerships in the UAE construction industry- a comparative analysis between the UAE and the UK. Journal of Engineering Project and Production Management, 7(1), 21-32. https://doi.org/10.32738/jeppm.201701.0004
3. Alonazi, W. B.. (2017). Exploring shared risks through public-private partnerships in public health programs: a mixed method. https://scite.ai/reports/10.1186/s12889-017-4489-z
4. Al-Saadi, R. and Abdou, A., (2016). Factors critical for the success of public‒private partnerships in UAE infrastructure projects: experts’ perception. International Journal of Construction Management, 16(3), pp.234-248.
5. Bang, D., Ershadmanesh, S., Nili, H., & Fleming, S. M. (2020). Private–public mappings in human prefrontal cortex. eLife, 9. https://doi.org/10.7554/elife.56477
6. Baxter, D. and Casady, C. (2020). Proactive and strategic healthcare public-private partnerships (PPPs) in the coronavirus (covid-19) epoch. Sustainability, 12(12), 5097. https://doi.org/10.3390/su12125097
7. Berrone, P., Ricart, J. E., Duch, A., Bernardo, V., Salvador, J., Peña, J. P., … & Planas, M. R. (2019). Easier: an evaluation model for public–private partnerships contributing to the sustainable development goals. Sustainability, 11(8), 2339. https://doi.org/10.3390/su11082339
8. Brinkerhoff, D. W. and Brinkerhoff, J. M. (2011). Public-private partnerships: perspectives on purposes, publicness, and good governance. Public Administration and Development, 31(1), 2-14. https:// doi.org/10.1002/pad.584
9. Brinkerhoff, J. M. (2002). Government-nonprofit partnership: a defining framework. Public Administration and Development, 22(1), 19-30. https://doi.org/10.1002/pad.203
10. Bryson, J. M., Crosby, B. C., & Bloomberg, L. (2014). Public value governance: moving beyond traditional public administration and the new public management. Public Administration Review, 74(4), 445-456. https://doi.org/10.1111/puar.12238
11. Buse, K. and Walt, G., (2000). Global public-private partnerships: part I-a new development in health?. Bulletin of the World Health organization, 78, pp.549-561.
12. Careri, F., Efthimiadis, T., & Masera, M. (2022). 2020–2022: pivotal years for European energy infrastructure. Energies, 15(6), 1999. https://doi.org/10.3390/en15061999
13. Carlson, B. L., Neal, D., Magwood, G. S., Jenkins, C., King, M. M., & Hossler, C. L. (2006). A community-based participatory health information needs assessment to help eliminate diabetes information disparities. Health Promotion Practice, 7(3_suppl), 213S-222S. https://doi.org/10.1177/1524839906288694
14. Carmichael, F., Fenton, S., Pinilla-Roncancio, M., Sing, M., & Sadhra, S. (2016). Workplace health and wellbeing in construction and retail. International Journal of Workplace Health Management, 9(2), 251-268. https://doi.org/10.1108/ijwhm-08-2015-0053
15. Cheng, Z., Ke, Y., Yang, Z., Cai, J., & Wang, H. (2020). Diversification or convergence. Engineering, Construction and Architectural Management, 27(6), 1315-1335. https://doi.org/10.1108/ecam-06-2019-0290
16. Cheng, Z., Ke, Y., Yang, Z., Cai, J., & Wang, H. (2020). Diversification or convergence. Engineering Construction & Architectural Management, 27(6), 1315-1335. https://doi.org/10.1108/ecam-06-2019-0290
17. Dechev, D. (2015). Public-private partnership – a new perspective for the transition countres. Trakia Journal of Science, 13(3), 228-236. https://doi.org/10.15547/tjs.2015.03.005
18. El-Gohary, N.M., Osman, H. and El-Diraby, T.E., (2006). Stakeholder management for public private partnerships. International journal of project management, 24(7), pp.595-604.
19. Fleta-Asín, J. and Muñoz, F. (2021). Renewable energy public–private partnerships in developing countries: determinants of private investment. Sustainable Development, 29(4), 653-670. https:// doi.org/ 10.1002/sd.2165
20. Gazley, B. (2008). Beyond the contract: the scope and nature of informal government-nonprofit partnerships. Public Administration Review, 68(1), 141-154. https://doi.org/10.1111/j.1540-6210.2007.00844.x
21. Hafidh, R. A. (2022). How South Africa governing their services contract in public private partnership: a systemic review study. Jurnal Manajemen Pelayanan Publik, 6(1), 30. https:// doi.org/ 10.24198/ jmpp.v6i1.25069
22. Hay, D. C. and Cordery, C. J. (2017). The value of public sector audit: literature and history. Journal of Accounting Literature, 40(1), 1-15. https://doi.org/10.1016/j.acclit.2017.11.001
23. Helmy, R., Khourshed, N. F., Wahba, M., & Bary, A. A.. (2020). Exploring Critical Success Factors for Public Private Partnership Case Study: The Educational Sector in Egypt. https:// scite.ai/ reports/ 10.3390/ joitmc6040142
24. Hodge, G. and Greve, C. (2007). Public?private partnerships: an international performance review. Public Administration Review, 67(3), 545-558. https://doi.org/10.1111/j.1540-6210.2007.00736.x
25. Hodge, G. and Greve, C. (2007). Public?private partnerships: an international performance review. Public Administration Review, 67(3), 545-558. https://doi.org/10.1111/j.1540-6210.2007.00736.x
26. Islam, M. S.. (2015). Involving the third sector in local service delivery in Bangladesh: Why and how?. https://scite.ai/reports/10.5130/cjlg.v0i0.4488
27. Jacobsen, R. (2022). Public sector projectification – a systematic review of the literature. Scandinavian Journal of Public Administration, 26(4), 91-112. https://doi.org/10.58235/sjpa.v26i4.10588
28. Joudyian, N., Doshmangir, L., Mahdavi, M., Tabrizi, J. S., & Gordeev, V. S. (2021). Public-private partnerships in primary health care: a scoping review. BMC Health Services Research, 21(1). https:// doi.org/ 10.1186/s12913-020-05979-9
29. Koppenjan, J. and Enserink, B. (2009). Public-private partnerships in urban infrastructures: reconciling private sector participation and sustainability. Public Administration Review, 69(2), 284-296. https://doi.org/10.1111/j.1540-6210.2008.01974.x
30. Kwak, Y.H., Chih, Y. and Ibbs, C.W., (2009). Towards a comprehensive understanding of public private partnerships for infrastructure development. California management review, 51(2), pp.51-78.
31. Lahura, E. and Sabrera, R. (2022). The effect of infrastructure investment on tourism demand: a synthetic control approach for the case of Kuelap, Peru. Empirical Economics, 65(1), 443-478. https://doi.org/10.1007/s00181-022-02334-1
32. Liang, Y. and Wang, H. (2019). Sustainable performance measurements for public–private partnership projects: empirical evidence from China. Sustainability, 11(13), 3653. https://doi.org/10.3390/su11133653
33. Liu, F., Liu, J., & Yan, X. (2018). Quantifying the decision-making of PPPs in China by the entropy-weighted pareto front: a Urt case from Guizhou. Sustainability, 10(6), 1753. https://doi.org/10.3390/su10061753
34. Liu, Z., Jiao, Y., Li, A., & Liu, X.. (2021). Risk Assessment of Urban Rail Transit PPP Project Construction Based on Bayesian Network. https://scite.ai/reports/10.3390/su132011507
35. Magalhães, L. S., Figueiredo, L., & Jesus, L. A. F. D.. (2020). Project management in public-private partnerships: a conceptual framework based on a systematic literature review. https:// scite.ai/reports/ 10.1590/0104-530×3772-20
36. Magginas, V., Nathanail, E., Manoli, S., & Malnaca, K.. (2018). A Multi-Agent Approach towards Designing a City Port Business Model. https://scite.ai/reports/10.2478/ttj-2018-0018
37. Mazzucato, M. and Penna, C. C. R. (2014). Beyond market failures: the market creating and shaping roles of state investment banks. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.2586246
38. Nasios, G., & Foradoula, N.. (2021). Public-Private Partnerships (PPPs): Potential Impacts and Critical Success Factors. https://scite.ai/reports/10.12681/hapscpbs.29519
39. Nkhoma, M. T. and Agbenyegah, A. T. (2021). Enhancing border security through public-private partnerships in South Africa. International Journal of Innovation, Creativity and Change, 799-817. https:// doi.org/10.53333/ ijicc2013/ 151054
40. Nuhu, S., Mpambije, C. J., & Ngussa, K. (2020). Unresolved challenges in health service delivery in Tanzania under public private partnership: stakeholders views from Dar es Salaam region.. https://doi.org/10.21203/rs.2.20765/v1
41. Ogochukwu, N. (2016). An assessment of public private partnership and social service reform in nigeria: 1999-2007.Texila International Journal of Management, 2(1), 94-92. https:// doi.org/ 10.21522/ tijmg.2015.02.01.art010
42. Okudan, O., & Budayan, C.. (2021). Determination of the Critical Success Criteria for Public-Private Partnership (PPP) Projects in Turkey. https://scite.ai/reports/10.2339/politeknik.709225
43. Osei-Kyei, R., Chan, A. P., Yu, Y., Chen, C., Ke, Y., & Tijani, B. (2019). Social responsibility initiatives for public-private partnership projects: a comparative study between China and Ghana. Sustainability, 11(5), 1338. https://doi.org/10.3390/su11051338
44. Podgorny, B. B. (2019). Public-private partnership in the UK and Russia: а comparative analysis. Economic Annals-ХХI, 180(11-12), 21-30. https://doi.org/10.21003/ea.v180-03
45. Quinby, L. and Sanzenbacher, G. T. (2020). Do pensions matter for recruiting state and local workers?. State and Local Government Review, 52(1), 6-17. https://doi.org/10.1177/0160323×20942817
46. Rasche, A., Waddock, S. and McIntosh, M., (2013). The United Nations global compact: Retrospect and prospect. Business & Society, 52(1), pp.6-30.
47. Rhodes, M. L., Biondi, L., Gomes, R. C., Melo, A. I., Ohemeng, F. L. K., Pérez-López, G., … & Sutiyono, W. (2012). Current state of public sector performance management in seven selected countries. International Journal of Productivity and Performance Management, 61(3), 235-271. https:// doi.org/ 10.1108/ 17410401211205632
48. Sani, F. (2021). The legal concept of public private partnership (PPP) and its limited scope in Nigeria. International Journal of Research and Innovation in Social Science, 05(09), 825-833. https://doi.org/10.47772/ijriss.2021.5952
49. Sari, F. N. I., Sudarmo, S., Suharto, D. G., & Dary, N. H.. (2019). Collaborative Governance: Managing Residential Areas In Malang Based on Public Private Partnership. https://scite.ai/ reports/ 10.30589/proceedings.2019.285
50. Sarvari, Hadi et al. (2019). Approaches to Risk Identification in Public–Private Partnership Projects: Malaysian Private Partners’ Overview. https://scite.ai/reports/10.3390/admsci9010017
51. Seddighi, H., Seddighi, S., Salmani, I., & Sedeh, M. (2020). Public-private-people partnerships (4p) for improving the response to Covid-19 in Iran. Disaster Medicine and Public Health Preparedness, 15(1), e44-e49. https://doi.org/10.1017/dmp.2020.202
52. Sholoiko, A. (2017). The development of European insurance market infra-structure. EUREKA: Social and Humanities, 6, 3-7. https://doi.org/10.21303/2504-5571.2017.00491
53. Silva, M. J. d. and Santiago, S. B. (2021). Mapping the DMAIC tool in the public sector. International Journal for Innovation Education and Research, 9(10), 436-453. https://doi.org/10.31686/ijier.vol9.iss10.3469
54. Stan, M., Tasențe, T., & Rus, M. (2023). Challenges and opportunities regarding the covid-19 pandemic on urban mobility in constanta, romania. Technium Social Sciences Journal, 42, 1-14. https://doi.org/10.47577/tssj.v42i1.8755
55. Tam, N. (2021). Scientometric review of research trends on public private partnership (PPP) for  infrastructure projects from 2000 to 2020. CSID Journal of Infrastructure Development, 4(1), 32. https:// doi.org/10.32783/ csid-jid.v4i1.215
56. Tavoni, A., Dannenberg, A., Kallis, G., & Löschel, A. (2011). Inequality, communication, and the avoidance of disastrous climate change in a public goods game. Proceedings of the National Academy of Sciences, 108(29), 11825-11829. https://doi.org/10.1073/pnas.1102493108
57. Vasyliev, O., Volokhov, V., Volokhova, I., Lukianova, O., & Zhovtiak, H. (2019). Priority-partnership approach as a mechanism for encouraging investment activities at the railway transport. SHS Web of Conferences, 67, 04014. https://doi.org/10.1051/shsconf/20196704014
58. Velaga, N., Beecroft, M., Nelson, J., Corsar, D., & Edwards, P. (2012). Transport poverty meets the digital divide: accessibility and connectivity in rural communities. Journal of Transport Geography, 21, 102-112. https://doi.org/10.1016/j.jtrangeo.2011.12.005
59. Villiers, C. d., Hsiao, P. K., & Maroun, W. (2020). The Routledge handbook of integrated reporting.. https://doi.org/10.4324/9780429279621
60. Wandfluh, M., Hofmann, E., & Schoensleben, P. (2015). Financing buyer–supplier dyads: an empirical analysis on financial collaboration in the supply chain. International Journal of Logistics Research and Applications, 19(3), 200-217. https://doi.org/10.1080/13675567.2015.1065803
61. Ward, M., Schulz, A., Israel, B., Rice, K., Martenies, S., & Markarian, E. (2018). A conceptual framework for evaluating health equity promotion within community-based participatory research partnerships. Evaluation and Program Planning, 70, 25-34. https://doi.org/10.1016/j.evalprogplan.2018.04.014
62. Weir, S., Samnaliev, M., Kuo, T., Tierney, T., Cumming, D., Bruce, J., … & Eldabe, S. (2017). The incidence and healthcare costs of persistent postoperative pain following lumbar spine surgery in the UK: a cohort study using the clinical practice research datalink (CPRD) and hospital episode statistics (HES). BMJ Open, 7(9), e017585. https://doi.org/10.1136/bmjopen-2017-017585
63. Wijaya, S. S., Rosyadi, S., ., S., Gunarto, G., & ., A. (2023). Challenges to local public service in the post pandemic. KnE Social Sciences. https://doi.org/10.18502/kss.v8i3.12811
64. Zailani, S., Iranmanesh, M., Nikbin, D., & Jumadi, H. (2014). Determinants and environmental outcome of green technology innovation adoption in the transportation industry in malaysia. Asian Journal of Technology Innovation, 22(2), 286-301. https://doi.org/10.1080/19761597.2014.973167