The role of government and development partner certification in public-private partnership (PPP) infrastructure project financing

摘要

The thesis tests whether certification by government and development partners is related to the choice of project modality and private sector ownership in PPP projects. Results show certification by government and development partners significantly promotes PPP investment under a risky modality, specifically through encouraging private sector ownership. The study has practical implications as certification by government and development partners can assure private investors about PPP project quality.