Contents

Pathways to meet critical success factors for local PPPs: The cases of urban transport infrastructure in Korean cities

Bae, Yooil / Joo, Yu-Min

Abstract

Public-Private Partnerships (PPPs) have been utilized extensively in both developed and developing countries to provide various public services and infrastructure. The literature points to many common critical success factors, including a mature financial market, transparent regulatory framework, advanced technology, and people's acceptance of new forms, but those can vary from country to country. South Korea's mature market capitalist system and strong regulatory framework have led to somewhat successful infrastructure provision through PPPs at the national level, but as our two cases of urban transportation in the Seoul Metropolitan Area indicate, local-level PPPs have demonstrated mixed results. By elaborating on the factors that affect the outcomes of PPPs at the local level, we argue that under a relatively new local democracy, Korean cities are likely to be susceptible to producing unfair contracts mainly due to limited local fiscal authority and resources, opportunistic behavior of local politicians, an underdeveloped urban institutional framework for PPPs, and the rise of new conditions such as economic nationalism intermixed with speculative foreign investment. (C) 2016 Elsevier Ltd. All rights reserved.

Issue Date
2016-04
Keywords Plus
Public–Private Partnerships; PROJECTS
Keywords(Author)
Public–Private Partnerships; Local government; Urban infrastructure; Decentralization
DOI
10.1016/j.cities.2016.01.007
Journal Title
CITIES
Start Page
35
End Page
42
ISSN
0264-2751
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