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on Project, Program and Portfolio Management |
| By: | Miranda Sarmento, J.; Renneboog, L.D.R. (Tilburg University, Center For Economic Research) |
| Abstract: | This paper reviews the literature on the allocation and valuation of public-private partnerships (PPPs). First, the paper discusses why governments pursue PPPs and how value for money (VfM) is achieved. Second, the paper reviews the principles of risk allocation and valuation from an academic and public sector perspective. Both the private and public sector consider risk allocation to be a critical issue with respect to PPPs and VfM generation, although governments adopt a less complex approach to risk measurement. This paper analyses papers, case-studies, and reports concerning VfM from PPPs and concludes that, from an academic perspective, the majority of PPPs do not create VfM (government reports usually reach the opposite conclusion). |
| Keywords: | Public-Private Partnerships; Risk; Risk allocation; Value for money |
| JEL: | G32 G38 H54 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiucen:b3c9c376-bd32-41b1-b6ba-ce19aeb3c3b5&r=ppm |
| By: | Hottenrott, Hanna; Lopes-Bento, Cindy; Veugelers, Reinhilde |
| Abstract: | This study investigates the effects of an R&D subsidy scheme on participating firms' net R&D investment. Making use of a specific policy design in Belgium that explicitly distinguishes between research and development grants, we estimate direct and cross-scheme effects on research versus development intensities in recipients firms. We find positive direct effects from research (development) subsidies on net research (development) spending. This direct effect is larger for research grants than for development grants. We also find cross-scheme effects that may arise due to complementarity between research and development activities. Finally, we find that the magnitude of the treatment effects depends on firm size and age and that there is a minimum effective grant size, especially for research projects. The results support the view that public subsidies induce higher additional investment particularly in research where market failures are larger, even when the subsidies are targeting development. |
| Keywords: | R&D,Complementarity,Research Subsidies,Development Subsidies,Innovation Policy |
| JEL: | H23 O31 O38 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:14107&r=ppm |
| By: | Eiji Ohno; Ryuta Mori; Masafumi Morisugi; Hiroshi Sao |
| Abstract: | Based on the international agreements after the Kyoto Protocol, some projects to reduce the greenhouse gas emission have been promoted even in Japan. Therefore, policies such as various regulations and introduction of the environmental tax have been discussed, so people will be asked for big burden. However, in many local cities, problems such as falling birth rate, aging, and stagnation of regional economy are important subjects, so it is hard to give the priority to the global warming prevention policy. In addition, in spite of abundance of natural resources such as forest, wind, water, and sunlight, the local city has a problem that the fund for the global warming prevention policy which utilizes these resources cannot be procured by financial difficulties. On the other hand, the renewable energy business with citizen participation will give the local community some effects. On the environment aspect, the carbon dioxide emission will be reduced by introducing the renewable energy. On the economy aspect, the local employment will be stimulated if the local contractor will construct the renewable energy system and maintain it. Therefore, there should be the renewable energy business which would achieve both the global warming prevention and the regional economic revitalization. Furthermore, through such business with citizen participation, the environmental activity of the local residents will be activated, and we can expect that the semi-public service will be improved and the satisfaction of the local residents will rise. In this paper, we propose a small hydroelectric generation project with citizen participation which includes not only donation to the project but also cooperation in the activity such as cleaning and patrols. And the project is evaluated economically based on the willingness to work (WTW) by using the contingent valuation method and the general equilibrium analysis. As a result, the WTW for the project has been estimated as a function of its various attributes; the revenue, the profit to the local community, and the reward to contributors. On the other hand, the revenue should vary with the number of contributors; where the number means the WTW. As for the profit to the local community and the reward to contributors, these are positioned as the policy variables. Therefore, by using our evaluation model, we will be able to evaluate various policies for the renewable energy business; for example, policies which make the revenue maximize, policies which make the social utility maximize, and so on. |
| Keywords: | small hydro-electric generation; global warming prevention; regional economic revitalization; contingent valuation method; general equilibrium analysis; |
| JEL: | Q42 Q51 R13 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa14p668&r=ppm |
| By: | Beck, Mathias; Lopes-Bento, Cindy; Schenker-Wicki, Andrea |
| Abstract: | This study investigates the efficacy of public R&D support. Compared to most existing studies, we do not stop at substitution effects or general innovation outcome measures, but we are interested in knowing where the policy effect is highest: on innovation close to the market (i.e. incremental innovation) or on innovation that is still far from the market and hence more risky and radical. Using firm level data from the period 1999 to 2011, we find that the policy hits where the market failure is highest, that is, for radical innovation. Taking into account that the Swiss funding agency encourages collaboration, we find no evidence that the impact of the policy is positively effected by various R&D collaboration patterns. |
| Keywords: | R&D subsidies,collaborative innovation,diversity,innovation performance,radical innovation,incremental innovation,policy evaluation,treatment effects |
| JEL: | C14 C30 H23 O31 O38 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:14106&r=ppm |
| By: | Marta Zaleska; Zbigniew Mogi£A; Joanna Knap |
| Abstract: | The economic crisis and the declining competitiveness of Europe, led to the orientation of cohesion policy for smart growth based on knowledge and innovation. Poland and its regions are in a specific socio-economical position characterized by a low share of higher value-added products and high technology-intensive ones in total export. They still need to bridge the gap towards the more developed EU countries and regions by shaping their competitive advantage. The only way to develop and maintain a competitive advantage is to trigger knowledge- and innovation-based entrepreneurship. Cohesion policy funds open up great opportunities for innovation. Nowadays, when the programming period 2007 - 2013 came to an end, it is increasingly important to assess effectiveness of the EU intervention in the context of innovation. The main aim of this study is to present the methodology that allows to assess the role of the EU operational programs in determining the long-term development based on pro-innovative business sector. To present methodology clearly, it will be presented on the example of the Innovative Economy Operational Programme 2007 - 2013 (IE OP) for Lower Silesia region. The first stage of the study will contain a review of literature and a proposition of typology of innovations in the context of their impact on the long-term development. The detailed analysis of more than 100 projects under the IE OP in Lower Silesia will be done to assess effectiveness of the implementation of co-financed research & development projects. The aim of this stage is to deepen the knowledge about the positive and negative factors affecting the implementation of the results of R&D in practice. On the base of the typology and results from previous stages, projects will be classified to created categories of innovation (e.g. imitative, product-oriented, process-oriented etc.). The results will verify whether in the analyzed projects dominates imitative type of innovation, which is typical of regions that are still shortening the distance towards the centers of socio-economic development. This, however, can lead to an "average income trap" that does not guarantee non-cost competitiveness. The results of the study may be used in future analysis as a contribution to the macroeconomic quantitative studies of the cohesion policy impact. |
| Keywords: | regional development; innovation; cohesion policy |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa14p1306&r=ppm |
| By: | Navarro, Ma. Kresna; Almaden, Catherine Roween |
| Abstract: | The informal settlements in Butuan City, Philippines pose the intractable problem of housing and providing services for the urban poor. They exact tremendous costs to government infrastructure projects and the city as a whole. In this study, these costs are accounted for, particularly the costs the government will incur to compensate them for being displaced in the implementation of public infrastructure project. Primary data were collected through inventory of losses (IOL), socio-economic survey (SES) and the replacement cost surveys. Secondary data were obtained through key informant interviews with different stakeholders. The paper quantifies the costs of compensating them thru replacement of their affected resources and providing resettlement. It also establishes different types of compensation to secure just terms for all parties. It presents a rich picture of how the informal settlers affect urban environment and the monetary and operational challenges they pose to the government and the society at large. |
| Keywords: | Informal Settlements, Social Cost, Urbanization |
| JEL: | O17 O53 Q5 Q51 |
| Date: | 2014–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:60517&r=ppm |
| By: | Kim Pollermann; Petra Raue; Gitta Schnaut |
| Abstract: | Many different levels of the institutional framework influence processes of rural development. One funding-scheme for rural development is LEADER, which is a bottom-up-orientated approach funded by the EU. A key element is a Local Action Group (LAG) as a kind of a private-public partnership. The LAG collaborate on the basis of an integrated local development strategy. The LAG make decisions about the financial support for projects from an own budget. The patterns of such an element of rural governance on local level are embedded in a multi-level governance system. To analyse LEADER performances we develop a model of multi-level governance, which integrates governance arrangements at local level as well as regulation at European and German Federal State Level. In theory, under multi-level governance the role of the state shifts from one of control to one of co-ordination, using new mechanisms to guide a plurality of network actors. In general we use governance with a wide definition in an analytical sense (not focused on a normative perspective like in good governance concepts, not with a narrow definition as self-governance). So governance is seen as an umbrella term for regulation of collective actions with different modes of steering Crucial aspects for analysing LEADER are settings of the rural development programs and the LAGs own settings. However, only focusing on a formal system of the LAG's rules and regulations alone neglects the LAG's board's actual behaviour and processes. Therefore, in addition to the formal system, also an informal system of characteristics related to behaviours and attitudes should considered. Research questions are related to the observation of external induced changes (from the policy framework) as well as endogenous induced changes (from learning processes within the LAG). This contribution will be based on findings of an international research project with case-studies in France, Italy and Germany as well as the on the result of the LEADER evaluation in Germany (with written questionnaires for members of the LAG decision making bodies in ca. 100 regions with more than 3000 answers in 2009 and 2013). Incidentally research about the performance of LEADER becomes even more important, because there will be more LEADER-like implementations in the future: Not only new EU-countries could participate in the new funding period 2014+, but in addition the LEADER principles in theory are now usable for a 'Community-Led Local Development' for other structural funds. |
| Keywords: | Rural Development; Governance; LEADER; |
| JEL: | R11 R58 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa14p1071&r=ppm |
| By: | Andrea Uszkai; Zsolt Dános |
| Abstract: | This paper focuses on the Central-European (so called „centrope") region. This region was created by a co-operation project 10 years ago, and also functions today including Vienna and other Austrian provinces such as Lower Austria and Burgenland, the region of South-Moravia in the Czech Republic, the region of Bratislava and Trnava in Slovakia, Gyõr-Moson-Sopron and Vas counties in Hungary, and cities of Eisenstadt, St. Pölten, Brno, Bratislava and Trnava. The main objective of this study is to examine the implementing sectoral co-operation projects of R&D and tertiary education activities between the higher education institutions of the region and the intensity of these relations. Furthermore, we also concentrate on the depth of regional integration and networking from the point of view of the relationships in higher education, particularly the strength and the weaknesses of bilateral and multilateral relations, and also the absence of co-operation in different areas. Recent mobility surveys found that the rate of student mobility is low between the institutions in the region and there are no mutual exchange programs. The language barriers and the deficiency of the institutions' attractiveness were defined as the main reasons of the low mobility besides the lack of frequent relations. Although sectoral clusters were established inside the region with the membership of higher education institutions, the demand of regional co-operation in the institutions' strategies is unknown, and there are no available pieces of information about data sharing and long-term co-operation between the institutions in the functioning clusters (i.e. automotive industry). It must be examined what the main criteria are in the election of partners for current projects and how extended is the mutual partnership in the projects of the regional institutions. It is an essential analysis viewpoint whether there is a difference between higher education institutions with regard to the above depending on the location of the institution (including the relationships between the HEI's in own countries) and how this affects cross-border regional relationships. To sum up, the study intends to provide answers to how and in what areas does sectoral co-operation exist in the region among the higher education institutions and what is the rate of these projects comparing all projects of the institution, as well as to define the leading sectors of the co-operations. |
| Keywords: | university; Central-Europe; relationships; co-operation; project |
| JEL: | I23 R11 |
| Date: | 2014–11 |
| URL: | http://d.repec.org/n?u=RePEc:wiw:wiwrsa:ersa14p346&r=ppm |