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Can P3s contribute to the upgrade of Canada's Asia-Pacific trade infrastructure?
Prof. Anthony Boardman, University of British Columbia, Canada and Prof. Aidan Vining, Simon Fraser University, Canada
Abstract
The expansion of Canada’s Asia-Pacific trade is likely to continue over the foreseeable future. Investments in gateway and related corridor infrastructure may be publicly funded, privately funded or it may be some combination of both. Given provincial and federal governments’ desires to minimise current expenditures, public-private partnerships (P3s) are a likely mechanism. This paper reviews the theoretical reasons for public funding of tangible and intangible infrastructure investments and discusses the potential role for P3s. It also reviews the recent evidence concerning the use of P3s in Canada. While P3s are politically attractive, there are a number of concerns over their use. In particular, they do not work well when governments attempt to transfer all of the risks to a P3.
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