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How Much Vertical Integration? Contractual Choice and Public–Private Partnerships in the United States

Albalate, D; Bel, G; Geddes, RR; (2017) How Much Vertical Integration? Contractual Choice and Public–Private Partnerships in the United States. Review of Industrial Organization , 51 pp. 25-42. 10.1007/s11151-016-9540-1. Green open access

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Abstract

Efficiency gains in public–private partnerships (PPP) derive from risk transfer and the bundling of different tasks. We study the factors that explain bundling in single contracts. We focus on the choice between integrating operational tasks alone or construction tasks alone, versus vertically integrating both operational and construction tasks. We analyze a new data set that includes 553 PPPs that were concluded in the United States. We find evidence that some financial variables play a role in bundling decisions. In addition, market size and the type of economic sectors involved, are also important drivers of contract choice and bundling decisions.

Type: Article
Title: How Much Vertical Integration? Contractual Choice and Public–Private Partnerships in the United States
Open access status: An open access version is available from UCL Discovery
DOI: 10.1007/s11151-016-9540-1
Publisher version: https://doi.org/10.1007/s11151-016-9540-1
Language: English
Additional information: This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions.
Keywords: Privatization, Public–private partnerships, Contracting, Vertical integration
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Political Science
URI: https://discovery.ucl.ac.uk/id/eprint/10123080
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