This article analyzes some of the issues raised by institutionalized public-private partnerships in an economic perspective. We demonstrate that although they may address some of the main limits of purely contractual public-private partnerships, such as the issues of control, know-how transfer,...

Prior to the 2008 financial crisis, the economic model of PPPs benefited from a very favorable environment in terms of credit availability and cost. The high level of liquidity in financial markets allowed rising abundant and not expensive external resources, because of both the low level of...

Towards the end of the twentieth century, the trend that seemed to be emerging in many countries was towards a certain distribution of roles whereby transport operations were assigned to the private sphere and infrastructure to the public sphere. Over the past ten years, however, growth in the...

There is a strong economic rationale for close cooperation between the public and private sectors. This has resulted in a significant increase in the demand for the provision of public services through instruments combining public and private money such as public-private partnerships (PPPs or...

Qu'est-ce que la gestion du patrimoine d'infrastructure ? Comment les administrations des routes peuvent-elles avoir une approche intégrée de la gestion du patrimoine d'infrastructure ? En quoi une approche intégrée se différencie-t-elle d'une gestion morcelée des actifs ? Quelles en sont...

What is asset management? How do road administrations achieve an integrated approach to asset management? How does this differ from the management of individual assets? What are the implications for data collection and management? What does it mean for road administrations and road sector...

As most Exchange-Traded Funds (ETFs) engage in securities lending or are based on total return swaps, they expose their investors to counterparty risk. To mitigate the funds' exposure, their counterparties must pledge collateral. In this paper, we present a framework to study collateral risk and...

This article adopts the asymmetric DCC with one exogenous variable (ADCCX) model developed by Vargas (2008), by updating the concept of 'volatility surprise' to capture cross-market relationships. Current methods for measuring spillovers do not focus on volatility interactions, and neglect...