Abstract

http://ssrn.com/abstract=1087179
 
 

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Optimal Capital Structure of Public-Private Partnerships


Marian W. Moszoro


University of California, Berkeley - Haas School of Business; Kozminski University; University of Navarra - Public-Private Sector Research Center; IESE Business School

Pawel Gasiorowski


International Monetary Fund (IMF)

December 2007

IMF Working Paper No. 08/1

Abstract:     
This paper presents a model to assess the efficiency of the capital structure in public-private partnerships (PPP). A main argument supporting the PPP approach for investment projects is the transfer of know-how from the private partner to the public entity. The paper shows how different knowledge transfer schemes determine an optimal shareholding structure of the PPP. Under the assumption of lower capital cost of the public partner and lower development outlays when the investment is carried out by a private investor, an optimal capital structure is achieved with both the public and the private parties as shareholders.

Number of Pages in PDF File: 15

Keywords: Private sector, Public sector, Investment

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Date posted: January 25, 2008  

Suggested Citation

Moszoro, Marian W. and Gasiorowski, Pawel, Optimal Capital Structure of Public-Private Partnerships (December 2007). IMF Working Papers, Vol. , pp. 1-13, 2007. Available at SSRN: http://ssrn.com/abstract=1087179

Contact Information

Marian W. Moszoro (Contact Author)
University of California, Berkeley - Haas School of Business ( email )
F402 Haas School of Business
Berkeley, CA 94720
United States
HOME PAGE: http://moszoro.net
Kozminski University ( email )
ul. Jagiellonska 57
Warsaw, 03-303
Poland
University of Navarra - Public-Private Sector Research Center ( email )
Av. Pearson 21
Barcelona, 08034
Spain
IESE Business School ( email )
Avd. Pearson 21
Barcelona, 08034
Spain
HOME PAGE: http://www.iese.edu/aplicaciones/faculty/facultyDetail.asp?lang=en&prof=MMSZ
Pawel Gasiorowski
International Monetary Fund (IMF)
700 19th Street, N.W.
Washington, DC 20431
United States
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