TY - JOUR
T1 - DETERMINANTS OF PUBLIC-PRIVATE PARTNERSHIP IMPLEMENTATION IN OIC COUNTRIES
AU - Kasri, Rahmatina Awaliah
AU - Siddiq, Muhammad Rizki
N1 - Publisher Copyright:
© 2022 ournal of Islamic Monetary Economics and Finance. All rights reserved.
PY - 2022
Y1 - 2022
N2 - This study examines the Private-Public Partnership (PPP) implementation for financing public infrastructure and its determinants for the case of OIC countries during the period 2015-2019. Using the fixed-effects panel model and considering public resource constraints and market, macroeconomic, institutional and cultural variables as potential factors, it documents that the regulatory quality, political stability, Islamicity Index and inflation variables positively influence the implementation of PPP for financing public infrastructure in the OIC region. Meanwhile, aid is found to negatively affect the PPP implementation. These findings suggest that PPP implementation tends to be higher in countries with good institutions, stable macroeconomic conditions, low public resources, low levels of aid and strong adherence to Islamic values. The results are expected to provide insights for policymakers and private sectors involved in the implementation of PPP in OIC countries.
AB - This study examines the Private-Public Partnership (PPP) implementation for financing public infrastructure and its determinants for the case of OIC countries during the period 2015-2019. Using the fixed-effects panel model and considering public resource constraints and market, macroeconomic, institutional and cultural variables as potential factors, it documents that the regulatory quality, political stability, Islamicity Index and inflation variables positively influence the implementation of PPP for financing public infrastructure in the OIC region. Meanwhile, aid is found to negatively affect the PPP implementation. These findings suggest that PPP implementation tends to be higher in countries with good institutions, stable macroeconomic conditions, low public resources, low levels of aid and strong adherence to Islamic values. The results are expected to provide insights for policymakers and private sectors involved in the implementation of PPP in OIC countries.
KW - Infrastructure financing
KW - Islamic economics
KW - Islamic finance
KW - OIC countries
KW - Public-private partnership (PPP)
UR - http://www.scopus.com/inward/record.url?scp=85135045429&partnerID=8YFLogxK
U2 - 10.21098/jimf.v8i2.1437
DO - 10.21098/jimf.v8i2.1437
M3 - Article
AN - SCOPUS:85135045429
SN - 2460-6146
VL - 8
SP - 275
EP - 304
JO - Journal of Islamic Monetary Economics and Finance
JF - Journal of Islamic Monetary Economics and Finance
IS - 2
ER -