Risk Allocation In Public Private Partnerships
In China’s Water Projects:
A Principal Agent Approach
Author(s)
A. Shrestha, A. A. Aibinu, T. K. Chan & C. Chen
Abstract
Past research on China’s public private partnerships (PPPs) shows that due to
local governments’ lack of understanding, risks are not allocated properly. Long
term contracts in the water sector present its own risks, unique due to the
characteristic of water projects; however, there is little or no research about risk
allocation on these projects in the literature. Risk and their allocation in PPP
water projects are regarded as any other PPP project and are not analysed
independently. Most research regarding risks in PPP projects in China have been
done from the private sectors’ perspective and very limited research have
focused on the government’s point of view. In this paper, we develop a
framework to examine risk allocation particularly for PPP water projects from
the government’s perspective in the context of China. Based on a review of the
literature on risk allocation, three criteria were identified and used for the
development of the framework and these criteria were discussed using the
principal agent (PA) theory approach.
Keywords: water projects, public private partnerships, risk allocation, China.
Keywords
Keywords: water projects, public private partnerships, risk allocation, China.
Related Book
Other papers in this volume
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