Government Guarantees: Allocating and Valuing Risk in Privately Financed Infrastructure Projects

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The Basic Public Finance of Public-Private Partnerships (2013, background): “The Lagrangian for this problem is L (p1, p2) = H(p1,α,θ1) f (θ1)+H(p2,α,θ2) f (θ2)+µ[u′1 f (θ1)+u′2 f (θ2)], where u′i = u(Π(pi , v)− I ), i = 1,2, and µ denotes the multiplier for the concessionaire’s participation constraint.”
Critical factors and risk allocation for PPP policy: Comparison between HSR and general infrastructure projects (2012, background): “Several studies have shown that private sector opportunism may result in fiscal failures for the public sector (Ho and Liu, 2002; Irwin, 2007; OECD, 2007; Zhang, 2005b).”
Infrastructure in Latin America (2010, background): “14 Among the empirical studies that have tackled directly the inequality impact of infrastructure are those of López (2004) and Calderón and Servén (2010), both of which use cross-country panel data.”