The Government of Indonesia (GoI) increasingly relies on the private sector financing to build and operate … PPP infrastructure project procurement in Indonesia and Australia. Public Sector Comparator (PSC) is used to assess the … potential project VFM quantitatively in Australia. In Indonesia, the PSC has not been applied, where the PPP procurement …

analysis of other firms, e.g. Islamic banks in Indonesia. Design/methodology/approach – The paper applies Malmquist data … and revisits policy implications. Practical implications – No one policy fits all in Indonesia for privatization programme …

firms in Indonesia. We consider two leading hypotheses: (1) public sector enterprises are inefficient due to agency …