Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/198809 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7449
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
We investigate yardstick competition between local jurisdictions in which pure rent-seeking incumbents undertake an identical infrastructure project choosing be- tween two contractual arrangements with different financing profiles, namely traditional procurement (TP) and public-private partnership (PPP). We show that a mixed regime, in which TP is used in one jurisdiction and PPP in the other, is likely to arise when projects are mildly lucrative, and/or jurisdictions have a moderate fiscal capacity. We find that, in the mixed equilibrium, incumbents provide different levels of public services, face different probabilities of re-election, and obtain different rents. The adoption of different forms of project governance permits incumbents to disguise themselves and undermine voters' ability to assess their performances. Therefore, yardstick competition is hindered, even if jurisdictions display identical revenue capacities.
Schlagwörter: 
political yardstick competition
rent seeking
infrastructure projects
traditional procurement
public-private partnership
JEL: 
D72
H77
Dokumentart: 
Working Paper
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