Pacific region. See Asia and Pacific region
Park, Donghyun, 137
Park, Mee-Soo, 287
partial risk guarantees, 174-78, 176-78f, 180-83, 181-82f
participant lenders of syndicated loans, 110
Pavel, Christine A., 116, 125, 132
payment obligation guarantees, 172-73
Pedroni, Peter, 18
Pennacchi, George, 115
People's Republic of China
case study on PPP regulation in, 243-48, 244t
distribution of PPPs in Asia, 4
foreign investment in, 243-45
institutional framework for PPPs in, 26
PPP to total infrastructure investment ratios in, 40t
rate of PPP participation in, 17
regulations for PPPs in, 237, 238t
transportation investments and poverty, 19
transportation sector in, 274
21st Century Urban Water Management Pilot Scheme (1997), 243
unsolicited project proposals in, 203t
Urban Water Price Regulation (1998), 243
performance undertakings, 173, 305
Pham, Thi Hong Hanh, 80
Philippines
agencies responsible for PPPs in, 267
bank project financing in, 83, 84t
Build-Operate-Transfer Law (1994), 289, 304
case study on PPP regulation in, 248-51
comparison with Republic of Korea and Indonesia, 287-322. See also comparative review of PPP systems
currency bond markets in, 263, 264t
energy company regulations in, 239
global competitiveness index rating for, 256-57, 257f, 272t
government support for PPPs in, 304-6, 306f, 310-11, 316-17
implementation stage of, 269, 270t
infrastructure eligible for PPPs in, 314
infrastructure gap in, 267
infrastructure scores and ranking for, 1f, 257f
institutions, functioning of, 310
land acquisitions in, 54
legal framework for PPPs in, 262, 289, 308, 312-13
North Luzon Expressway Project, 54
Philippine Development Plan, 292, 293
policy recommendations for, 283
PPP environment classification in, 287
PPP institutional frameworks in, 297-98, 298t
PPP investment in, 5, 256, 258, 259t
PPP to total infrastructure investment ratios in, 40t
procurement types in, 289, 314
Project Development and Monitoring Fund (PDMF), 305-6, 306f
Public-Private Partnership Center of, 9, 52, 258, 259, 260-61, 293, 310
Public-Private Partnership Strategic Support Fund, 306
social infrastructure projects in, 275-76, 279
solicited project proposals in, 292-93, 293t, 294f, 309, 319
syndicated loan use in, 110
unsolicited project proposals in, 294, 320
physical capital, 18
Platz, Daniel, 150
policy recommendations
for bank project financing, 93-94
for regulatory governance in PPP performance, 252
for risk assessment and management, 66-67
for Southeast Asian PPPs, 255, 282-84
for syndicated loans, 129-30
political instability
assessment of, 56
bank project financing and, 87, 93
description and data sources for, 98t
insurance against, 174-76, 179
risk perception of investors, 168-69, 168t
Pongsiri, Nutavoot, 52
poverty and poverty reduction
channels for, 24
infrastructure for, 18, 21, 276-81, 277f, 281f
PPP effectiveness and, 3, 20-21, 21f
spending requirements for, 6
subsidies for, 279
tariff subsidies for, 248
Private Participation in Infrastructure
Database of World Bank
bank project financing and, 87, 98-99t
as data source, 143
descriptive statistics used in, 68
on determinants of PPPs, 142-43
impact of PPPs on economic growth, 192
impact of PPPs on macroeconomy, 19
increase in infrastructure project participation, 16, 16-17f
investment data from, 23
macroeconomic stability and sovereign creditworthiness, 170
reliability of data from, 23
risk assessment and management, 55, 64
private sector. See also banking and financial sectors; Public-Private Partnerships
capital, cost of, 139
formation requirements for effective PPPs, 51
government efforts to attract
financing from, 138, 148, 243-45, 274
increase in infrastructure project participation, 16, 16f, 140, 192
infrastructure financing from, 2, 15, 33, 59, 150. See also bank project financing; syndicated loans for project financing
macroeconomic conditions and, 149
PPP effectiveness and, 20-21, 21f
pro-poor project participation, 277
regulatory governance in PPP performance and, 236
Republic of Korea, infrastructure investment in, 195, 196t
risk mitigation through, 260
risk perceptions of, 168-71, 168t, 169f, 171t
privatization, 258
procurement procedures
as bottlenecks to competition, 54
comparative review of, 309, 314
Indonesia, 290
Philippines, 289
regulations for, 236
Republic of Korea, 288-89
traditional, 15, 216, 219-22. See also Public-Private Partnerships vs. traditional procurement
profit motive, 235
project bonds, 7-8, 151, 151n6
project development funds
project implementation. See also solicited projects; unsolicited projects
comparative review of PPP systems, 290-96, 293t, 294-95f
risk assessment for, 53-55
World Economic Forum on, 256
project life-cycle costs, 19-20
project lists, 321
project pipelines, 255, 274, 283
project valuation, 274
Pro-Poor Public-Private Partnership of UNESCAP, 21
PRS Group Inc., 56, 67n1, 143, 147
public interest, 235-36, 246, 276-78, 277f, 308
public offerings, 140
Public-Private Partnership government
units
defined, 52
importance of, 209-10
project hazard rates and, 63
regulatory functions and, 242
Public-Private Partnerships (PPPs), 1-12
Asian landscape for, 4
benefits of, 18, 19-20, 24, 199
budgeting and accounting rules for, 201-2, 202b
comparative review of, 287-322. See also comparative review of PPP systems
determinants of, 137-65. See also determinants of PPPs
empirical evidence and channels for effectiveness, 15-45. See also empirical evidence and channels for effectiveness
failed. See failed PPP projects financing mobilization, 6-8
government units for. See Public-Private Partnership government units
impetus for participation in, 3
for infrastructure development, 2-5
lessons for, 8-9
obstacles to, 5, 52, 53, 142, 260, 261, 274
opposition to, 308
prerequisites for, 9
regulatory governance of, 233-53. See also regulatory governance in PPP performance
risk management for, 47-74. See also risk assessment and management
risk mitigation for, 167-87. See also risk mitigation and sovereign guarantees
success factors for, 3, 52, 54-55, 64, 67, 179, 210, 260, 280, 283
trends in, 4
Public-Private Partnerships vs. traditional procurement, 10, 215-32
empirical analysis of PPP projects, 222-29, 223f, 224t, 229t, 231n3
frequency of use, 33
policy implications and, 229-30
PPP structure overview, 216-17, 216f
regulatory governance in PPP performance and, 236, 237f
theoretical model of procurement contracts, 217-22
time efficiency issues and, 199
public sector. See also local
governments; Public-Private
Partnerships; Public-Private
Partnerships vs. traditional
Procurement
allocating risk to, 172-73, 172f, 192, 210, 299
budgeting systems, 201-2
debt, bank project management and, 87, 88, 92, 98t
debt repayment capacity, 201
financing for infrastructure from, 6, 33, 256
formation requirements for effective PPPs, 51
PPP government units. See Public-Private Partnership government units
project hazard rates and, 59, 60f, 62-63, 66
regulatory governance in PPP performance and, 236
regulatory tools from, 239-40
risk mitigation from, 138, 167-87. See also risk mitigation and sovereign guarantees