Verfügbarkeit: Public-private partnerships for infrastructure

Public-private partnerships for infrastructure: principles of policy and finance

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Bibliographische Detailangaben
Hauptverfasser:	Yescombe, Edward R. (VerfasserIn), Farquharson, Edward (VerfasserIn)
Format:	Buch
Sprache:	English
Veröffentlicht:	Amsterdam Butterworth-Heinemann [2018]
Ausgabe:	Second edition
Schlagworte:	Public Private Partnership Organisation Verwaltung Public-private sector cooperation Infrastructure (Economics)
Online-Zugang:	Inhaltsverzeichnis
Beschreibung:	Includes bibliographical references and index
Beschreibung:	xv, 531 Seiten 23 cm
ISBN:	9780081007662

Internformat

MARC


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Datensatz im Suchindex

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adam_text	Contents List of Figures xiii List of Tables xv I INTRODUCTION 1. Overview Part It Introduction 4 Part 2: The Public-Sector Perspective 4 Part 3: Risk Analysis and Allocation 4 Part 4- The PPP Contract 5 Part 5: The Private-Sector Perspective 5 Part 6: Alternative Models—Summing Up 6 2. What Are Public-Private Partnerships? §2,1 Introduction ? §2.2 Public Infrastructure and the Private Sector ? §2.3 Public-Private Partnerships 8 §2.4 Development and Structures 1 ^ §2.5 PPPs in the Spectrum of Public Infrastructure 20 §2.6 PPP Markets Worldwide 22 3, Cash Flow and Investment Analysis §3.1 Introduction 25 §3.2 Present Value / Discounted Cash Flow 26 §3.3 Internal Rate of Return 28 §3.4 Problems with Discounted Cash Flow and Internal Rate of Return Calculations 28 §3.5 Uses in Public-Private Partnerships 33 v vi I Contents __________Il_________ THE PUBLIC SECTOR PERSPECTIVE 4- Policy, Legal and Institutional Frameworks §4.1 Introduction 37 §4.2 Developing PPP Programmes 37 §4.3 Legal Frameworks 38 §4.4 Policy Frameworks 41 §4.5 PPP Guidance 42 §4.6 Programme Approaches 43 §4.7 PPP Units 44 §4.8 Infrastructure Plans 46 5. The Project Cycle §5.1 Introduction 49 §5.2 The Project Cycle 49 §5.3 Phases in the Project Cycle 51 §5.4 Quality-Control Reviews and Approvals 55 §5.5 The Five-Case Model 56 6. Public-Sector Project Management §6.1 Introduction 59 §6.2 Project Governance 59 §6.3 Role of the PPP Unit 61 §6.4 External Advisers 61 §6.5 Stakeholder Management 66 7. Assessing Needs, Project Definition and Selection §7.1 Introduction 69 §7.2 Needs Assessment 70 §7.3 Project Definition and Options Appraisal 71 §7.4 Assessing Project Economic Viability 73 §7.5 Scope of the PPP 76 8. The PPP Decision---Value for Money §8.1 Introduction 79 §8.2 The Concept of ‘Value for Money’ 80 Contents \| vii §83 Quantitative VfM Assessment and the PublioSector Comparator 81 §8.4 The PPP Option 36 §8.5 Comparison of the PSC and PPP Options 86 §8.6 Problems with Quantitative Analysis 87 §8.7 Benefit of the Quantitative Approach 91 §8.8 Qualitative Analysis 92 §8.9 Integrating VfM Assessment in the Procurement Process 96 9. The PPP Decision—Affordability, Budgeting and Reporting §9.1 Introduction 99 §9.2 Affordability 100 §93 Budgeting for PPPs 104 §9.4 Financial Accounting and Statistical Reporting 109 §9.5 Other Forms of Reporting 113 §9.6 Final Observations 113 10. PPP Procurement §10.1 introduction 115 §10.2 Objectives of the Procurement Process 115 §103 Preparing for Procurement 116 §10.4 Market Sounding and Commercial Assessment 117 §10.5 Procurement Procedures 118 §10.6 The Bidding Process 120 §10.7 Other Procurement Issues 130 §10.8 Due Diligence M3 _________________m____________________ PPP RISK ANALYSIS AND ALLOCATION 11 11. Risk Analysis—Theory and Methodologies §11.1 Introduction M 9 §11.2 Identifying Risks M0 §113 Valuing Risks Ml §11.4 Risk Allocation M2 §11.5 How Lenders Perceive Risks in PPPs M4 §11.6 The Risk Register M5 §11.7 Risk Interdependencies M8 §11.8 Contracting Authority’s Requirements M9 viii \| Contents 12. Risk Allocation—Construction Phase §12.1 introduction 151 §12.2 Project Site 152 §123 Construction 157 §12.4 Construction Liquidated Damages and Security 165 §123 Risks for the Construction Subcontractor and Contracting Authority 168 §12.6 Design 169 13. Risk Allocation—Operation Phase §13.1 Introduction 171 §13.2 Demand 171 §13.3 Network 174 §13,4 Revenue Payment 175 §13.5 Availability and Service Quality 176 §13.6 Operating Expenses—FM/O M Costs 176 §13.7 Other Operating Expenses 178 §13.8 Continuity of Service 179 §13.9 Interface Risks 179 §13.10 Political Risks 180 14. The Role of Insurance §14.1 Introduction 183 §14.2 Insurance Brokers and Advisers 183 §14.3 Construction-Phase Insurances 184 §14.4 Operation-Phase Insurances 186 § 14 3 Deductibles 187 §14.6 Lenders’ Requirements 188 §14.7 Contracting Authority’s Requirements 189 §14.8 Control of Insurance Proceeds 190 §14.9 Contracting Authority-Provided Insurance 191 §14.10 Insurance-Premium Cost Risk 191 §14.11 Unavailability of Insurance Terms 192 §14.12 Uninsurability 192 _________________IV____________________ THE PPP CONTRACT 15 * * * 15. Service-Fee Payment Mechanism §15.1 Introduction 197 §15.2 Contracting for Outputs 197 §15.3 Service-Fee Payment Structure 199 Contents \| ix §15.4 Start Date for Payments 201 §15.5 Usage-Based Payments 203 §15.6 Availability Based Payments 210 §15.7 Mixed Usage and Availability Payments 218 §15.8 Third-Party and Secondary Revenues 219 16. Changes in Circumstances §16.1 Introduction 221 §16.2 Compensation Events 222 §16.3 Excusing Causes 229 §16.4 Relief Events 230 17. Termination §17.1 Introduction 233 §17.2 Early Termination: Default by the Project Company 233 §17.3 Contracting-Authority Default or Optional Termination 241 §17.4 Early Termination: Force Majeure 245 §17.5 Early Termination: Corruption and Breach of Refinancing Provisions 245 §17.6 Termination and Subcontractors 246 §17.7 Tax Implications of a Termination-Sum Payment 247 §17.8 Final Maturity, Residual-Value Risk and Hand Back 247 18. Public-Sector Support for PPP Contracts §18.1 Introduction 251 §18.2 Partial Debt Assumption 252 §18.3 Revenue Subsidies 253 §18.4 Minimum Revenue Guarantee 253 §18.5 Concession Extension 254 §18.6 Capital Grant 254 §18.7 Part-Construction of the Project 255 §18.8 Debt Financing 256 §18.9 Pro-Rata Debt Guarantee 257 §18.10 Debt Underpinning 257 §18.11 Credit Guarantee Finance 257 §18.12 Equity Investment 259 §18.13 Balance-Sheet Implications 259 19 19. Public-Sector Contract Management §19.1 I ntroduction 261 §19.2 Practices and Behaviours 262 §19.3 Construction Phase 263 §19.4 Operation Phase 265 §19.5 Hand Back 269 §19.6 Disputes 269 x 1 Contents §19.7 Contract-Management Resourcing 270 § 19.8 Contract-Management Tools 271 §19.9 Reviews and Ex-Post Evaluation 111 §19.10 Transparency and Disclosure 273 §19.11 Staff Transfers 274 __________V_________ THE PRIVATE-SECTOR PERSPECTIVE 20. Sponsors and Other Investors §20.1 Introduction 277 §20.2 Sources of Investment for PPP Projects 277 §20.3 The Investment Decision 282 §20.4 Bidding and Project Development 288 §20.5 Joint-Venture Issues 288 §20.6 The Project Company 290 §20.7 External Advisers 294 21. Project Finance and PPPs §21.1 Introduction 299 §21.2 Development of Project Finance 300 §21.3 Features of Project Finance 301 §21.4 Project Finance and Structured Finance 302 §21.5 Why Use Project Finance for PPPs? 304 §21.6 Corporate Finance 308 22. Project-Finance Debt—Sources and Procedures §22.1 Introduction 311 §22.2 Commercial Banks 312 §22.3 Non-Bank Lenders 325 §22.4 Bond Issues 325 §22.5 Bank Loans versus Bonds 330 §22.6 Funding Competitions 332 §22.7 Mezzanine Debt 336 §22.8 Recourse to the Sponsors 336 §22.9 Public-Sector Debt Finance 337 23. Financial Structuring §23.1 Introduction 343 §23.2 Debt Profile 344 §23.3 Debt-Cover Ratios 349 Contents \| xi §23.4 Debt-Financing Costs 355 §23.5 Relationship Between Cover Ratio, Leverage and Equity IRR 358 §23.6 Accounting and Taxation Issues 360 §23.7 Contingent Funding 363 §23.8 The Financial Model 363 §23.9 Model inputs and Outputs 364 §23.10 Asset Register 369 24. Macroeconomic Risks and Hedging §24.1 Introduction 371 §24.2 Interest-Rate Risk 371 §24.3 inflation Issues 386 §24.4 Foreign-Exchange Risks 400 25. Lenders’ Cash-Flow Controls, Security and Enforcement §25.1 introduction 403 §25.2 Control of Cash Flow 403 §25.3 Lenders’ Security 410 §25.4 Events of Default 415 §25.5 Inter-Creditor Issues 416 26. Debt Refinancing and Equity Sale §26.1 Introduction 421 §26.2 Debt Refinancing 421 §26.3 Equity Sale 434 §26.4 Equity Competitions 436 ________VI________ ALTERNATIVE MODELS—SUMMING UP 27. Alternative Models §27.1 Introduction 439 §27.2 Public-Sector Procurement 441 §27.3 Post-Construction Take-Out 442 §27.4 Public-Sector Equity investment 443 §27.5 Not-for-Profit Structures 445 §27.6 Regulated Asset Base Structure 450 xii I Contents 28. PPPs—For and Against §28.1 Introduction 451 §28.2 New Public Management, Privatisation and PPPs 452 §28.3 Budgetary Benefit 453 §28.4 Benefit of Accelerated Delivery 454 §28.5 Financing Cost and Risk Transfer 455 §28.6 Risk Transfer and Value for Money 455 §28.7 Economies of Scale 458 §28.8 Whole-Life Costing and Maintenance 459 §28.9 Private-Sector Skills 460 §28.10 Public-Sector Reform 463 §28.11 Complexity 465 §28.12 Flexibility 466 §28.13 PPPs and Politics 467 References and Further Reading Glossary and Abbreviations Index 469 473 511
any_adam_object	1
author	Yescombe, Edward R. Farquharson, Edward
author_GND	(DE-588)128642076
author_facet	Yescombe, Edward R. Farquharson, Edward
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dewey-full	338 338.73
dewey-hundreds	300 - Social sciences
dewey-ones	338 - Production
dewey-raw	338 338.73
dewey-search	338 338.73
dewey-sort	3338
dewey-tens	330 - Economics
discipline	Politologie Wirtschaftswissenschaften
edition	Second edition
format	Book
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spelling	Yescombe, Edward R. Verfasser (DE-588)128642076 aut Public-private partnerships for infrastructure principles of policy and finance E. R. Yescombe, Edward Farquharson Second edition Amsterdam Butterworth-Heinemann [2018] xv, 531 Seiten 23 cm txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Public Private Partnership (DE-588)4337462-1 gnd rswk-swf Organisation (DE-588)4043774-7 gnd rswk-swf Verwaltung (DE-588)4063317-2 gnd rswk-swf Public-private sector cooperation Infrastructure (Economics) Organisation (DE-588)4043774-7 s Verwaltung (DE-588)4063317-2 s Public Private Partnership (DE-588)4337462-1 s DE-604 Farquharson, Edward Verfasser aut Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030594549&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis
spellingShingle	Yescombe, Edward R. Farquharson, Edward Public-private partnerships for infrastructure principles of policy and finance Public Private Partnership (DE-588)4337462-1 gnd Organisation (DE-588)4043774-7 gnd Verwaltung (DE-588)4063317-2 gnd
subject_GND	(DE-588)4337462-1 (DE-588)4043774-7 (DE-588)4063317-2
title	Public-private partnerships for infrastructure principles of policy and finance
title_auth	Public-private partnerships for infrastructure principles of policy and finance
title_exact_search	Public-private partnerships for infrastructure principles of policy and finance
title_full	Public-private partnerships for infrastructure principles of policy and finance E. R. Yescombe, Edward Farquharson
title_fullStr	Public-private partnerships for infrastructure principles of policy and finance E. R. Yescombe, Edward Farquharson
title_full_unstemmed	Public-private partnerships for infrastructure principles of policy and finance E. R. Yescombe, Edward Farquharson
title_short	Public-private partnerships for infrastructure
title_sort	public private partnerships for infrastructure principles of policy and finance
title_sub	principles of policy and finance
topic	Public Private Partnership (DE-588)4337462-1 gnd Organisation (DE-588)4043774-7 gnd Verwaltung (DE-588)4063317-2 gnd
topic_facet	Public Private Partnership Organisation Verwaltung
url	http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030594549&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA
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