Public–Private Partnership Practices in the World and Türkiye: A Numerical Analysis

Recep Emre Eriçok

Article Details

Public–Private Partnership Practices in the World and Türkiye: A Numerical Analysis

Authors:

Recep Emre Eriçok

Publisher:

Istanbul University

Main Topics:

Maliye Politikası

Journal:

İktisat Politikası Araştırmaları Dergisi Vol.10 Issue 2, pp.629-661

Document Type:

Article

Publication Date:

2/2023

Document Language:

Turkish

Document ID (Org No.):

2001298299

pISSN:

2148-3876

Keywords:

Abstract:

 Nowadays, there is a growing consensus on the importance of infrastructure investments in terms of economic and social development. In this context, public-private partnerships are recognized as one of the most important instruments for supporting infrastructure investments. In Türkiye, public-private partnership practices have been utilized extensively in the execution of numerous projects for more than three decades. This study was designed to evaluate and analyze with numerical data the public-private partnership practices in the world and Türkiye within thecontext of global developments in the field of public-private partnership. First, the conceptual framework of publicprivate partnership was examined, and then numerical data on public-private partnership practices in the world andTürkiye were analyzed in light of the increasing infrastructure investment need. The studys results show that Türkiyespublic-private partnership practices differ from those of other countries, and that the public-private partnership governance framework, particularly the management and reporting of fiscal risks and fiscal transparency should be improved. Furthermore, the fiscal risks incurred due to contingent liabilities provided within the scope of publicprivate partnership projects have increased. To reduce fiscal risks and improve fiscal transparency in the field of publicprivate partnership, stakeholders must provide contingent liabilities in Turkish Lira rather than foreign currency and avoid long-term guarantees. Moreover, information on guarantees given by institutions that implement public-private partnership projects other than the Treasury should be shared with the public transparently and regularly. Alternatively,all guarantees should be gathered under a single institution and resources should be used effectively and converted into efficient investments and directed to priority sectors. If these objectives are met, it is anticipated that discussions on public-private partnerships in Türkiye will decrease, the potential contributions of these projects will be enhanced, and their positive contribution to Türkiyes economic performance will increase.

 Nowadays, there is a growing consensus on the importance of infrastructure investments in terms of economic and social development. In this context, public-private partnerships are recognized as one of the most important instruments for supporting infrastructure investments. In Türkiye, public-private partnership practices have been utilized extensively in the execution of numerous projects for more than three decades. This study was designed to evaluate and analyze with numerical data the public-private partnership practices in the world and Türkiye within thecontext of global developments in the field of public-private partnership. First, the conceptual framework of publicprivate partnership was examined, and then numerical data on public-private partnership practices in the world andTürkiye were analyzed in light of the increasing infrastructure investment need. The studys results show that Türkiyespublic-private partnership practices differ from those of other countries, and that the public-private partnership governance framework, particularly the management and reporting of fiscal risks and fiscal transparency should be improved. Furthermore, the fiscal risks incurred due to contingent liabilities provided within the scope of publicprivate partnership projects have increased. To reduce fiscal risks and improve fiscal transparency in the field of publicprivate partnership, stakeholders must provide contingent liabilities in Turkish Lira rather than foreign currency and avoid long-term guarantees. Moreover, information on guarantees given by institutions that implement public-private partnership projects other than the Treasury should be shared with the public transparently and regularly. Alternatively,all guarantees should be gathered under a single institution and resources should be used effectively and converted into efficient investments and directed to priority sectors. If these objectives are met, it is anticipated that discussions on public-private partnerships in Türkiye will decrease, the potential contributions of these projects will be enhanced, and their positive contribution to Türkiyes economic performance will increase.

 Nowadays, there is a growing consensus on the importance of infrastructure investments in terms of economic and social development. In this context, public-private partnerships are recognized as one of the most important instruments for supporting infrastructure investments. In Türkiye, public-private partnership practices have been utilized extensively in the execution of numerous projects for more than three decades. This study was designed to evaluate and analyze with numerical data the public-private partnership practices in the world and Türkiye within thecontext of global developments in the field of public-private partnership. First, the conceptual framework of publicprivate partnership was examined, and then numerical data on public-private partnership practices in the world andTürkiye were analyzed in light of the increasing infrastructure investment need. The studys results show that Türkiyespublic-private partnership practices differ from those of other countries, and that the public-private partnership governance framework, particularly the management and reporting of fiscal risks and fiscal transparency should be improved. Furthermore, the fiscal risks incurred due to contingent liabilities provided within the scope of publicprivate partnership projects have increased. To reduce fiscal risks and improve fiscal transparency in the field of publicprivate partnership, stakeholders must provide contingent liabilities in Turkish Lira rather than foreign currency and avoid long-term guarantees. Moreover, information on guarantees given by institutions that implement public-private partnership projects other than the Treasury should be shared with the public transparently and regularly. Alternatively,all guarantees should be gathered under a single institution and resources should be used effectively and converted into efficient investments and directed to priority sectors. If these objectives are met, it is anticipated that discussions on public-private partnerships in Türkiye will decrease, the potential contributions of these projects will be enhanced, and their positive contribution to Türkiyes economic performance will increase.

 Günümüzde ekonomik ve sosyal kalkınma açısından altyapı yatırımlarının önemi konusunda giderek artan bir fikir birliği bulunmaktadır. Bu bağlamda kamu-özel işbirliği, altyapı yatırımlarını desteklemenin temel araçlarından biri olarak kabul edilmektedir. Kamu-özel işbirliği uygulamaları, Türkiyede de 30 yılı aşkın bir süredir çeşitli projelerin gerçekleştirilmesinde yoğun şekilde kullanılmaktadır. Kamu-özel işbirliği alanındaki küresel gelişmeler çerçevesinde dünyada ve Türkiyede kamu-özel işbirliği uygulamalarını incelemek ve rakamsal verilerle analiz etmek amacıyla hazırlanan bu çalışmada, öncelikle kamu-özel işbirliğinin kavramsal çerçevesine değinilmiş, daha sonra artan altyapı yatırım ihtiyacı doğrultusunda dünyada ve Türkiyedeki kamu-özel işbirliği uygulamalarına ilişkin rakamsal veriler analiz edilmiştir. Çalışmadan elde edilen sonuçlar, Türkiyede kamu-özel işbirliği uygulamalarının diğer ülke örneklerine göre bazı hususlarda farklılaştığını ve mali risklerin yönetimi ve raporlanması ile mali şeffaflık başta olmak üzere kamu-özel işbirliği yönetişim çerçevesinin iyileştirilmesi gerektiğini ortaya koymaktadır. Ayrıca, kamu-özel işbirliği projeleri kapsamında sağlanan koşullu yükümlülükler nedeniyle üstlenilen mali risklerin arttığına işaret etmektedir. Kamu-özel işbirliği alanında mali risklerin azaltılması ve mali şeffaflık sorunlarının çözümü için, koşullu yükümlülüklerin döviz yerine TL cinsinden verilmesi, uzun süreli garantilerden kaçınılması, Hazine dışındaki kamu-özel işbirliği projelerini uygulayan kurumlar tarafından verilen garantilere ilişkin bilgilerin kamuoyu ile şeffaf ve düzenli bir şekilde paylaşılması veya tüm garantilerin tek bir kurum çatısı altında toplanması, kaynakların etkin şekilde kullanılarak verimli yatırımlara dönüştürülmesi ve öncelikli sektörlere yönlendirilmesi gerekmektedir. Bunların başarılması durumunda, Türkiyede kamu-özel işbirliğine ilişkin tartışmaların azalması, bu projelerin potansiyel katkılarından daha fazla faydalanılması ve Türkiyenin ekonomik performansına olumlu katkılarının artması öngörülmektedir.

Article Details

Public–Private Partnership Practices in the World and Türkiye: A Numerical Analysis

Authors:

Recep Emre Eriçok

Publisher:

Istanbul University

Main Topics:

Maliye Politikası

Journal:

İktisat Politikası Araştırmaları Dergisi Vol.10 Issue 2, pp.629-661

Document Type:

Article

Publication Date:

2/2023

Document Language:

Turkish

Document ID (Org No.):

2001298299

pISSN:

2148-3876

Public-private partnership

Infrastructure investments

Number of projects

Investment value

Government guaranteesKamu-özel işbirliği

Altyapı yatırımları

Proje sayısı

Yatırım tutarı

Devlet garantileri

Issues

Article Details

Authors: Recep Emre Eriçok

Publisher: Istanbul University

Main Topics: Maliye Politikası

Journal: İktisat Politikası Araştırmaları Dergisi Vol.10 Issue 2, pp.629-661

Document Type: Article

Publication Date: 2/2023

Document Language: Turkish

Document ID (Org No.): 2001298299

pISSN: 2148-3876

Issues

Authors:

Recep Emre Eriçok

Publisher:

Istanbul University

Main Topics:

Maliye Politikası

Journal:

İktisat Politikası Araştırmaları Dergisi Vol.10 Issue 2, pp.629-661

Document Type:

Article

Publication Date:

2/2023

Document Language:

Turkish

Document ID (Org No.):

2001298299

pISSN:

2148-3876