Public– private partnerships (PPPs) represent a collaboration between the private and public sectors, not only for the purpose of filling gaps related to economic infrastructure but also to improve the quality and diversity of public services. Its strengths have led several governments to launch broad programs for the promotion of PPP in several sectors, particularly in emerging economies. Understanding its main principles, its rationale and characteristics, and the current debate on practical implementation complexities is critical for readers interested in public policy and development.

This book presents an analytically grounded treatment of PPPs with particular emphasis on developing economies. Its main contribution lies in offering a lifecycle- based framework that integrates economic theory, regulatory analysis, institutional design, and empirical evidence to guide both understanding and implementation of PPPs. It presents and examines the current debates around PPP and its strengths and weaknesses compared to other methods of public project implementation. Additionally, it highlights best practices and lessons learned across several areas, such as project planning, design and formulation, risk allocation, financial structuring, awarding processes and ex post assessment, among others. The book concludes by offering an overview of the evolving research trends in the design and implementation of PPPs and their implications, as well as the future research agenda.

This book is particularly useful for researchers, scholars and students of economics, public policy and development specialists, as well as practitioners and officials interested in understanding the main concepts, principles, and best practices in PPP implementation in emerging economies.

Gonzalo Ruiz Diaz is a Professor of Economics at Pontifical Catholic University of Peru, Lima, Peru.