PPPs in Spain: Lessons from the Economic Recession

Vassallo Magro, José Manuel and Baeza, María de los Ángeles and Ortega, Alejandro (2017). PPPs in Spain: Lessons from the Economic Recession. In: "Second International Conference on Public-Private Partnerships", 26-29 mayo 2015, Austin, Texas. ISBN 978-0-7844-8026-7. pp. 388-402. https://doi.org/10.1061/9780784480267.

Description

Title: PPPs in Spain: Lessons from the Economic Recession
Author/s:
  • Vassallo Magro, José Manuel
  • Baeza, María de los Ángeles
  • Ortega, Alejandro
Item Type: Presentation at Congress or Conference (Other)
Event Title: Second International Conference on Public-Private Partnerships
Event Dates: 26-29 mayo 2015
Event Location: Austin, Texas
Title of Book: Advances in Public-Private Partnerships : Proceedings of the Second International Conference on Public-Private Partnerships
Date: 2017
ISBN: 978-0-7844-8026-7
Subjects:
Freetext Keywords: PPPs, Spain, Contract Design, Risk Allocation, Economic Recession
Faculty: E.T.S.I. Caminos, Canales y Puertos (UPM)
Department: Ingeniería Civil: Transporte y Territorio
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

In this paper, we analyze the successes and failures of PPPs and concession contracts for delivering and operating infrastructure in Spain from the award of the first toll highway concession program to the present and assess the impact that PPPs have had in infrastructure investment levels in Spain. To that end, we define the risk allocation principles used in Spain, and explore the evolution of the contracting approaches over the years. We found that the performance of PPPs is Spain was reasonably good until the arrival of the economic recession in 2008. Taking advantage of that, we make a trans-sector review of PPPs and study in-depth the impact that the economic recession has had on the business performance of PPPs in Spain and on the capacity of the central and regional governments to fulfill its commitments with the private sector. This analysis proved to be useful to assess to what extent PPP contracts were well designed and risks were correctly allocated. On the basis of the impact of the recession on PPP contracts, we were able to identify measures that, if had been applied, would have improved the present performance of PPPs.

More information

Item ID: 50060
DC Identifier: http://oa.upm.es/50060/
OAI Identifier: oai:oa.upm.es:50060
DOI: 10.1061/9780784480267
Official URL: http://www.icppp2015.org/
Deposited by: Memoria Investigacion
Deposited on: 16 Apr 2018 15:53
Last Modified: 16 Apr 2018 15:53
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