Buso M., Marty F., Tran P. T. (2017).

Public Private Partnerships from budget constraints: Looking for Debt Hiding?. International Journal of Industrial Organization, Volume 51, March 2017, pp. 56-84.

Abstract:
The use of Public-Private Partnerships (PPPs) to realize and operate public infrastructures is often associated with fiscal-circumventing motivations. Using data at the municipal level, this paper investigates whether budget-constrained public authorities adopt PPPs in order to hide public debt. The results show that financial difficulties often lead to a preference for PPPs instead of traditional forms of public procurement, but this behavior is not explained by the possibility of debt-hiding. Explanations for these findings are discussed.