Annotated Bibliography About Public-Private Partnerships

Savas, Emanuel S. Privatization and Public-Private Partnerships. New York: Chatham House Publishers, 2000. Print.

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The author analyzes the concept of privatization and its significance to the global economy. He brings into focus the factors influencing privatization that include the government, and the efforts of individuals in the society. The author also analyzes the history of privatization in regards to the factors influencing it. Savas analyzes the expansion of the government in relation to the size of the government and the reasons for its expansion (Savas 3). He puts into perspective the issue of taxes and government incentives when it comes to the control that it exercises in the business arena. The article includes the theory of privatization in terms of the significant features of both goods and services. He analyzes issues regarding exclusion, consumption, the grouping of goods and services and the issues affiliated by collective goods. Still, on the theory of privatization, the author also discusses the alternative organization for the setting up of goods and services (Savas 41). The analysis entails the alternative organization for setting up of goods and services, a diverse arrangement of the market, the association between various goods and the involved organization, a comparison of the organizations, privatization in brief in addition to private and public associations or partnerships. Savas also highlights the practices involved in privatization in regards to the reasons for privatization, ways of privatizing (forms, examples and management of privatization), the outcomes of privatization in regards to contraction of general services, privatization of the collection of solid waste and divestment of companies that are owned by the state in addition to an analysis of the future of privatization (Savas 111). Through the authors analysis, privatization is an essential aspect of the economy of any country when it comes to the market of goods and services.

2. Turhani, Ali, and Gjergji Shqau. "Public-Private Partnerships - For and Against." China-USA Business Review, David Publishing, 10.9 (2011): 893-898.

The authors analyze the advantages and disadvantages of public and private partnerships and the significant indicators required in assessing the benefits of the partnerships when it comes to various projects taking place in the assets of public services. The authors state that, Public authorities should have a base good understanding of the policy and financial problems a role they should play in the PPP project as well as the benefits they will have from this project (Ali & Shqau 893). The scholars highlight the fact that there are intensive debates in regard to the advantages and disadvantages of PPPs. They identify the elements surrounding the debate that include; whether the PPPs enable the more investment in public set-up, whether the high costs in PPPs are implicit, whether the transfer of risks and the monetary value from the PPPs can be put up against the high capital costs in addition to the advantages of high-cost maintenance and whole-life costing. Other factors include; the economies of scale; complexity; the value obtained from utilizing the skills from the private sector; PPPs acting as motivators for the reformation of the public sector; the political environment in addition to the influence that PPP have the flexibility of the public sector. According to the scholars, the PPPs should be viewed as a reformation of the public sector that allows government decentralization, the separation of obligations required in the provisions from the acquiring of public services, privatizing public services, conducting evaluations on the performances of public services in addition to making contracts with the private sector on public services. The scholars put into perspective the country of Albania whereby they perceive that PPPs will be of benefit to its public institutions (Ali & Shqau 894).

3. Boubakri, Narjess and Jean-Claude Cosset. "The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries." The Journal of Finance 53.3 (1998): 1081-1110. Print.

The scholars analyze the concept of privatization in regards to the functional and financial performances of 79 enterprises from 21 underdeveloped countries that have experienced complete or a bit of privatization between the years 1980 and 1992. The scholars explain that the issues of privatization have become quite significant in the world today, especially for the third world countries. They highlight various objectives of privatization that include enabling improvements of cash flows by the government in regards to the decrease in infusions of capital and subsidies to the enterprises owned by the state, promotion of capitalism through a massive shares ownership, limiting the control of trade unions in the public segment, redeployment of income within the community, decreasing the control of the government for the purpose of attracting foreign donors in addition to improving the effectiveness of companies owned by the state with the perspective that the private segment exhibits high performance when compared to the public sector (Narjess & Cosset 1081).

In regards to the aspects of pre-privatization and post-privatization that are affiliated to economic factors, the authors put into perspective the measures of performance that are attuned in regards to effects taking place in the market while considering the measures of performance that are not attuned. In regards to the measures of performance that are either adjusted or not attuned, the scholars highlight the aspects of increased profitability, expenditures on capital investment, efficiency in operations, the sum of dividends and employment in addition to total output that is aligned with inflation. The authors assert that there is a significant fall in leverage after the occurrence of privatization but explain that the affected sector is the unadjusted measures of performance. The authors make the conclusion that the analysis indicates that privatization brings about various advantages for organizations found in the third world countries whose government do not have control in their operations in addition to experiencing substantive income per capita (Narjess & Cosset 1082).

4. Pagliari, Joseph L., Kevin A. Scherer, and Richard T. Monopoli. "Public Versus Private Real Estate Equities: A More Refined, Long-Term Comparison." Real Estate Economics 33.1 (2005): 147-187. Web. 18 Jan. 2017.

The authors explain that privatization plays a huge role in the reformation of economies of various countries. They assert that it acts as a tool for measuring the performance of companies that are owned by the state. Privatization keeps in check the operations of the public sector such that the public sector ensures that it remains active in its performance. The scholars bring into perspective the comparison between public and private real estate entities. From their perspective, by making the comparisons, three significant differences arise that include smoothing of the appraisals, leveraging in addition to the mixing of property-type (Pagliari et. al. 147). The scholars carry out the analysis of the differences between the private and the public sector in addition to their relation. According to their findings, there are no significant differences between the two sectors. The authors base their analysis on the real estate market of both sectors between the years 1993 and 2001 whereby there exists a synchronization of both. The scholars highlight the fact that the impacts of the synchronization is beneficial to the management of the portfolio. They explain that it is important for the public and private sectors to be first perceived as assets to investors in regards to a myriad of opportunities in the real-estate market. Next, the aspects of governance, monitoring, liquidity, management compensation in addition to transparency also have to be considered in regards to returns on investments. Any significant impact may affect both large and small investors; hence, it is important to note the involved factors. The scholars put emphasis on the need to take into account the changes taking place in the economy in relation to measures of performance (Pagliari et. al. 147).

5. Fitch, Lyle C. "The Rocky Road To Privatization." American Journal of Economics and Sociology 47.1 (1988): 1-14. Web. 18 Jan. 2017.

The author explains that privatization, for many years, has brought about significant differences in both developed and developing countries. The scholar explains that the market of the United States contains three forms of privatization, they include; a GNP (Gross National Product) that is quite low in regards to the public sector such that there is enough space for the private sector; using the finances from the public funds to make dealings in service delivery in and the production process and the transitioning of enterprises owned by the state to the private sector. Contracting out, in this case, refers to delegating some duties to the private sector such that they conduct them on behalf of the public sector. Some of the significant reasons of privatization are to cut down on the costs and ensure that the end products and services are of high quality. The author asserts that, Most discussions of contracting out, which come from the public choice school of economics and public administration, mainly emphasize theoretical economic advantages, (Fitch 1). The perspective is that the public sector has the alternative to improve its performance through the private sector. The author puts into perspective the aspect of political machinations that entails the control by the government. According to the scholar, privatization may assist in reducing political machinations such that foreign investors gain interest. The scholar asserts that most of the benefits affiliated to contracting out are unforeseen by most companies and highlights the fact that the strategy can result in huge savings. Also, he points out that there is a need for specifications in projects for the benefits to be fully experienced. The basic conclusion is that contracting out to the private sectors should be highly encouraged.

Works Cited

Savas, Emanuel S. Privatization and Public-Private Partnerships. New York: Chatham House Publishers, 2000. Print.

Turhani, Ali, and Gjergji Shaq. "Public-Private Partnerships-For and Against." China-USA Business Review, David Publishing,10.9 (2011): 893-898.

Boubakri, Narjess and Jean-Claude Cosset. "The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries." The Journal of Finance 53.3 (1998): 1081-1110

Pagliari, Joseph L., Kevin A. Scherer, and Richard T. Monopoli. "Public Versus Private Real Estate Equities: A More Refined, Long-Term Comparison." Real Estate Economics 33.1 (2005): 147-187. Web. 18 Jan. 2017.

Fitch, Lyle C. "The Rocky Road To Privatization." American Journal of Economics and Sociology 47.1 (1988): 1-14. Web. 18 Jan. 2017.