From Concessions to Project Finance and the Private Finance Initiative
(2000) From Concessions to Project Finance and the Private Finance Initiative. Journal of Project Finance Fall:pp. 1-19.
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Abstract
Since the mid twentieth century in the U.S. and, more recently, since the 1970s in Europe, Asia, and other developing countries, national governments have increasingly used private capital to implement infrastructure projects and to provide services previously in the scope of the public sector. They do it using several types of concessions. Following this trend, in 1992, the U.K. government announced the Private Finance Initiative (PFI), a guidance and a legal framework for concessions in the U.K. Its main objective was to encourage private capital investment into public projects. To understand why the U.K. government introduced PFI, the concessions’ historic and economic background is presented. Although a national policy (Kerr [1998]), the underlying rationale of PFI must be analyzed and integrated within the international context as each state is a participant in the global economy.
| Item Type: | Journal Article |
|---|---|
| RM Number: | 2007001843 |
| Status: | Published |
| Subjects: | 350000 Commerce, Management, Tourism and Services > 350200 Business and Management > 350299 Business and Management not elsewhere classified |
| ID Code: | 8081 |
| Deposited By: | Alwi, Sugiharto |
| Deposited On: | 07 June 2007 |
| Alternative Locations: | http://www.iijournals.com/JPF/DEFAULT.ASP? |
| Copyright Owner: | Copyright 2000 Institutional Investor, Inc. |
| Additional Information: | For more information, please refer to the publisher's website (link above) or contact the author: m.betts@qut.edu.au |