This chapter examines how Public Private Partnerships (PPPs) have been affected by the global financial crisis (GFC). After briefly discussing PPPs, particularly with reference to risk, the chapter outlines their contribution to the development of worldwide public infrastructure and highlights some initiatives designed to assist projects following the withdrawal of credit. It then analyses the effect the GFC has had on United Kingdom (UK) PPPs by investigating approximately 630 projects to assess whether difficulties in obtaining finance brought about by the crisis has led to a delay in PPPs reaching financial close. The findings confirm that PPPs currently in procurement are finding it more difficult to achieve financial close than pre-GFC projects and that therefore there are fewer PPPs now underway. The chapter concludes by looking at the future of PPPs in the UK following the change of government in 2010.
|Title of host publication||Rethinking Public-Private Partnerships: Strategies for Turbulent Times (Routledge Critical Studies in Public Management)|
|Editors||Carsten Greve, Graeme Hodge|
|Publication status||Published - 6 Dec 2012|
Wall, A., & Connolly, C. (2012). The Impact of the Global Financial Crisis on Public-Private Partnerships: A UK Perspective. In C. Greve, & G. Hodge (Eds.), Rethinking Public-Private Partnerships: Strategies for Turbulent Times (Routledge Critical Studies in Public Management) (pp. 33-56). Routledge.