Risk Sharing in Public-Private Partnerships: General Considerations and an Evaluation of the U.S. Practice in Road Transportation
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This paper examines risks affecting Private-Public Partnership (PPP)
projects in road infrastructure and the ways of sharing risk between the two partners. It
provides a comprehensive typology of risks and, most importantly, attempts to identify
PPP-specific risks or risks more likely to arise under a PPP arrangement than under
traditional financing or complete privatization. The paper assesses the U.S. experience in
the use of PPPs for road infrastructure and identifies the most important risk-factors.