Efficiency and determinants analysis of Chinese infrastructure PPP projects in the construction and operation stages
Abstract
Public-private partnerships (PPPs) are used for infrastructure projects, but they usually involve risk because of their complexity. The construction and operation stages are the core of successful infrastructure PPP projects. This study analysed the efficiency and determinants of the construction and operation stages of Chinese infrastructure PPP projects conducted by thirty provinces from 2008–2013. During the five years examined, the efficiency of infrastructure PPP projects in the construction stage exhibited a downward spiral, but showed a gradual upward trend in the operation stage. The results showed that government supervision was one of the most significant positive influences on construction efficiency, while risk allocation had a greater positive impact on efficiency during the operation stage. The evidence in this study is impactful because it provides insights for practitioners regarding key determinants for improving efficiency in the construction and operation stages of infrastructure PPP projects.
Keyword : infrastructure PPP projects, government supervision, risk allocation, construction stage, operation stage
How to Cite
Xu, L., Liu, N., Zhang, S., Qiu, H., Chen, L., & Wang, Z. (2019). Efficiency and determinants analysis of Chinese infrastructure PPP projects in the construction and operation stages. International Journal of Strategic Property Management, 23(3), 156-170. https://doi.org/10.3846/ijspm.2019.7911
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Ashiuri, B. H., Kashiani, K. R., & Molenaar, S. L. (2002). Valuing government guarantees in the toll road project. Journal of Construction Engineering and Management, 12(4), 326-330.
Chan, A. P. C., Lam, P. T., Chan, D. W., Cheung, E., & Ke, Y. (2009). Drivers for adopting public private partnerships-empirical comparison between China and Hong Kong special administrative region. Journal of Construction Engineering and Management, 135(11), 1115-1124. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000088
Chan, A. P. C., Yeung, J. F., Calvin, C. P., Wang, S. Q., & Ke, Y. (2011). Empirical study of risk assessment and allocation of public-private partnership projects in China. Journal of Management in Engineering, 27(3), 136-148. https://doi.org/10.1061/(ASCE)ME.1943-5479.0000049
Charnes, A., Cooper, W. W., & Rhodes, E. (1978). Measuring the efficiency of decision making units. European Journal of Operational Research, 2(6), 429-444. https://doi.org/10.1016/0377-2217(78)90138-8
Chowdhury, A. N., & Charoenngam, C. (2009). Factors influencing finance on IPP projects in Asia: a legal framework to reach the goal. International Journal of Project Management, 27(1), 51-58. https://doi.org/10.1016/j.ijproman.2008.01.011
Debande, O. (2002). Private financing of transport infrastructure an assessment of the UK experience. Journal of Transport Economics and Policy, 36(3), 355-387. Retrieved from http://www.jstor.org/stable/20053911
Fried, H. O., Lovell, C. A. K., Schmidt, S. S., & Yaisawarng, S. (2002). Accounting for environmental effects and statistical noise in data envelopment analysis. Journal of Productivity Analysis, 17(1-2), 157-174. https://doi.org/10.1023/A:1013548723393
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Grimsey, D., & Lewis, M. K. (2004). Public private partnerships: the worldwide revolution in infrastructure provision and project finance. Northampton, MA: Edward Elgar. https://doi.org/10.4337/9781845423438
Groote, P., Jacobs, J., & Sturm, J. E. (1999). Infrastructure and economic development in the Netherlands, 1853−1913. European Review of Economic History, 3(2), 233-251. https://doi.org/10.1017/S1361491699000118
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Hammami, M., Ruhashyankiko, J.-F., & Yehoue, E. B. (2006). Determinants of public-private partnerships in infrastructure. In IMF Working Paper (No. 06/99). Retrieved from https://www.imf.org/external/pubs/ft/wp/2006/wp0699.pdf
Hung, S. W., Lu, W. M., & Wang, T. P. (2010). Benchmarking the operating efficiency of Asia container ports. European Journal of Operational Research, 203(3), 706-713. https://doi.org/10.1016/j.ejor.2009.09.005
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Ke, Y., Wang, S. Q., Chan, A. P. C., & Cheung, E. (2009). Research trend of public-private partnership in construction journals. Journal of Construction Engineering and Management, 135(10), 1076-1086. https://doi.org/10.1061/(ASCE)0733-9364(2009)135:10(1076)
Ke, Y., Wang, S., Chan, A. P. C., & Lam, P. T. I. (2010). Preferred risk allocation in China’s public–private partnership (PPP) projects. International Journal of Project Management, 28(5), 482-492. https://doi.org/10.1016/j.ijproman.2009.08.007
Koski, H. A., & Majumdar, S. K. (2004). Convergence in telecommunications infrastructure development in OECD countries. Information Economics & Policy, 12(2), 111-131. https://doi.org/10.1016/S0167-6245(00)00003-2
Li, T. H. Y., Ng, S. T., & Skitmore, M. (2013). Evaluating stakeholder satisfaction during public participation in major infrastructure and construction projects: a fuzzy approach. Automation in Construction, 29(1), 123-135. https://doi.org/10.1016/j.autcon.2012.09.007
Li, T. H. Y., Ng, S. T., & Skitmore, M. (2012). Public participation in infrastructure and construction projects in china: from an EIA-based to a whole-cycle process. Habitat International, 36(1), 47-56. https://doi.org/10.1016/j.habitatint.2011.05.006
Liu, J., & Lin, B. (2012). Government auditing and corruption control: evidence from China’s provincial panel data. China Journal of Accounting Research, 5(2), 163-186. https://doi.org/10.1016/j.cjar.2012.01.002
Liu, T., Wang, Y., & Wilkinson, S. (2016). Identifying critical factors affecting the effectiveness and efficiency of tendering processes in public–private partnerships (PPPs): a comparative analysis of Australia and China. International Journal of Project Management, 34(4), 701-716. https://doi.org/10.1016/j.ijproman.2016.01.004
Martimort, D., & Straub, S. (2009). Infrastructure privatization and changes in corruption patterns: the roots of public discontent. Journal of Development Economics, 90(1), 69-84. https://doi.org/10.1016/j.jdeveco.2008.08.002
Moszoro, M. (2014). Efficient public-private capital structures. Annals of Public & Cooperative Economics, 85(1), 103-126. https://doi.org/10.1111/apce.12028
Munnell, A. H., & Cook, L. M. (1990). How does public infrastructure affect regional economic performance. New England Economic Review, 5, 11-32.
Ng, S. T., Wong, J. M. W., & Wong, K. K. W. (2013). A public private people partnerships (P4) process framework for infrastructure development in Hong Kong. Cities, 31(2), 370-381. https://doi.org/10.1016/j.cities.2012.12.002
Ng, S. T., Wong, Y. M. W., & Wong, J. M. W. (2012). Factors influencing the success of PPP at feasibility stage–a tripartite comparison study in Hong Kong. Habitat International, 36(4), 423-432. https://doi.org/10.1016/j.habitatint.2012.02.002
Osei-Kyei, R., & Chan, A. P. C. (2015). Review of studies on the critical success factors for public–private partnership (PPP) projects from 1990 to 2013. International Journal of Project Management, 33(6), 1335-1346. https://doi.org/10.1016/j.ijproman.2015.02.008
Osei-Kyei, R., & Chan, A. P. C. (2018a). Stakeholder’s perspectives on the success criteria for public-private partnership projects. International Journal of Strategic Property Management, 22(2), 131-142. https://doi.org/10.3846/ijspm.2018.444
Osei-Kyei, R., & Chan, A. P. C. (2018b). Comparative study of governments’ reasons/motivations for adopting public-private partnership policy in developing and developed economics/countries. International Journal of Strategic Property Management, 22(5), 403-414. https://doi.org/10.3846/ijspm.2018.5223
Osei-Kyei, R., Chan, A. P. C., Javed, A. A., & Ameyaw, E. E. (2017). Critical success criteria for public-private partnership projects: international experts’ opinion. International Journal of Strategic Property Management, 21(1), 87-100. https://doi.org/10.3846/1648715X.2016.1246388
Sengupta, U. (2006). Government intervention and public–private partnerships in housing delivery in Kolkata. Habitat International, 30(3), 448-461. https://doi.org/10.1016/j.habitatint.2004.12.002
Shrestha, A., Chan, T. K., Aibinu, A. A., Chen, C., & Martek, I. (2017). Risks in PPP water projects in china: perspective of local governments. Journal of Construction Engineering and Management, 143(7), 1-12. https://doi.org/10.1061/(ASCE)CO.1943-7862.0001313
Su, C., Mitchell, R. K., & Sirgy, M. J. (2007). Enabling guanxi management in China: a hierarchical stakeholder model of effective guanxi. Journal of Business Ethics, 71(3), 301-319. https://doi.org/10.1007/s10551-006-9140-3
Tang, Q. Q., Zhen, L. M., & Yi-Dong, L. I. (2008). The infrastructure investment efficiency of public capital and private capital. Journal of Business Economics, 1(12), 34-41.
Tserng, H. P., Russell, J. S., Hsu C. W., & Lin, C. (2012). Analyzing the role of national PPP units in promoting PPPs: using new institutional economics and a case study. Journal of Construction Engineering and Management, 138(2), 242–249. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000398
Van Rijckeghem, C., & Weder, B. (2001). Bureaucratic corruption and the rate of temptation: do wages in the civil service affect corruption, and by how much? Journal of Development Economics, 65(2), 307-331. https://doi.org/10.1016/S0304-3878(01)00139-0
Vitner, G., Rozenes, S., & Spraggett, S. (2006). Using data envelope analysis to compare project efficiency in a multi-project environment. International Journal of Project Management, 24(4), 323-329. https://doi.org/10.1016/j.ijproman.2005.09.004
Wang, Y., Cui, P., & Liu, J. (2018). Analysis of the risk-sharing ratio in PPP projects based on government minimum revenue guarantees. International Journal of Project Management, 36(6), 899-909. https://doi.org/10.1016/j.ijproman.2018.01.007
Wanke, P. F. (2013). Physical infrastructure and flight consolidation efficiency drivers in Brazilian airports: a two-stage network-DEA approach. Transport Policy, 29(7), 145-153. https://doi.org/10.1016/j.tranpol.2013.05.004
Wibowo, A. (2004). Valuing guarantees in a BOT infrastructure project. Engineering Construction & Architectural Management, 11(6), 395-403. https://doi.org/10.1108/09699980410571543
Wibowo, A., Permana, A., Kochendörfer, B., Kiong, R. T. L., Jacob, D., & Neunzehn, D. (2012). Modeling contingent liabilities arising from government guarantees in Indonesian BOT/PPP toll roads. Journal of Construction Engineering and Management, 138(12), 1403-1410. https://doi.org/10.1061/(ASCE)CO.1943-7862.0000555
Xu, Y., & Yeh, C. H. (2014). A performance-based approach to project assignment and performance evaluation. International Journal of Project Management, 32(2), 218-228. https://doi.org/10.1016/j.ijproman.2013.04.006
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