Value Capture: A Valid Means of Funding PPPs?

This paper considers the use of value capture (VC) as a means of financing public‐private partnerships (PPPs) in the United Kingdom (UK). Although some VC techniques are used in the UK, they are employed more widely in the United States of America. After considering the traditional approach to finan...

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Bibliographic Details
Published in:Financial accountability & management 2016-05, Vol.32 (2), p.157-178
Main Authors: Connolly, Ciaran, Wall, Anthony
Format: Article
Language:English
Subjects:
Financing
Infrastructure
infrastructure improvements
Public private partnerships
value capture
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Summary:This paper considers the use of value capture (VC) as a means of financing public‐private partnerships (PPPs) in the United Kingdom (UK). Although some VC techniques are used in the UK, they are employed more widely in the United States of America. After considering the traditional approach to financing UK PPPs, this paper describes the main VC finance instruments. The findings of a series of case studies are then presented and conclusions drawn. While VC financing may prove unpopular with those bearing the cost of infrastructure improvements, it is recommended that such instruments are considered by UK policy makers.
ISSN:0267-4424
1468-0408
DOI:10.1111/faam.12083