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Public-private partnerships (PPPs) cannot be justified because they free public funds. When PPPs are justified on efficiency grounds, the contract that optimally balances demand risk, user-fee distortions and the opportunity cost of public funds, features a minimum revenue guarantee and a...
Persistent link: https://www.econbiz.de/10003810983
? Traditionally, building the physical asset is assigned to private partners whereas financing and operation are carried out by the … public sector. But even if building, operation, and possibly financing are delegated to the private sector, the question … particularly discuss whether the chosen way of sharing financing tasks and demand risk within this PPP is likely to be appropriate …
Persistent link: https://www.econbiz.de/10003811593
This paper addresses the question whether increased mobility of capital enhances public-sector modernisation. Public-sector modernisation is modelled as the accumulation of knowledge (or another accumulated production factor) that serves as an input in the government's production of a...
Persistent link: https://www.econbiz.de/10003883967
State-owned enterprises (SOEs) are often vertically integrated firms which operate in key industries like transport, telecommunication and power generation. They provide an infrastructure and invest in its quality. We discuss the effects of liberalization and their privatization which can be...
Persistent link: https://www.econbiz.de/10003871843
This paper analyses tax competition and tax coordination in a model where capital flows occur in the form of mergers and acquisitions, rather than greenfield investment. In this framework, we show that differences in residence based taxes do not necessarily distort international ownership...
Persistent link: https://www.econbiz.de/10003910411
This paper investigates the relevance of government purchasing behavior for innovation-based economic growth. We construct a parsimonious Schumpeterian growth model in which demand from the public sphere can effectively alter the economy's rate of technological change. We incorporate results of...
Persistent link: https://www.econbiz.de/10003924192
The monetary and fiscal policy interactions have gained a new research interest after the 2008 crisis due to the global increase of fiscal debt. This paper constructs a macroeconomic model of joint fiscal and monetary policy for an emerging open economy taking into account its structural...
Persistent link: https://www.econbiz.de/10011374345
This paper studies the impact of a government's efficiency on the taxation policy of a state. Namely, we claim that the countries are different both in the way they tax capital and the way they spend the collected revenue. We build a model of 2 countries competing for foreign investment,...
Persistent link: https://www.econbiz.de/10009746791
This paper proposes a methodology for measuring the spatial effects of roads and the seats of local authorities on the diffusion of business activity, which usually follows distance decay patterns from core to periphery. Regional development policies, pursued by regional authorities, directed at...
Persistent link: https://www.econbiz.de/10010228510