With 2015 firmly behind us, it’s time to reflect on the past year’s global economic trends— while looking forward toward the challenges and opportunities facing countries around the world. Check out the articles below for diverse and thought-provoking perspectives on how public-private partnerships can play a constructive role in global economies throughout 2016 and beyond.
Every December, Goldman Sachs’ Thematic Research team combs through their “Fortnightly Thoughts” reports from the year and compiles 100 of the most interesting charts they’ve published. Taken together, 2015’s picks tell a story of change and hint at what might be hiding around the corner.
PPPs for development continue to play a prominent role in America’s global development policy. President Barack Obama’s Global Development Council—a special advisory group comprised of public, private, academic, and nongovernmental representatives —continues to emphasize galvanizing the private sector and supporting new and existing PPPs.
Pete Troilo, 2015. “Economic development PPPs gain steam.” DevEx Impact.
The PPP model has proved its financial viability in the construction of hospitals in Peru. What has Peru’s approach to health PPPs been, and what have the outcomes shown?
Jason Mitchell, October 2, 2015. “In good health: how the PPP model has revolutionised Peru’s hospitals.” Financial Times.
As part of its multibillion-dollar commitment to invest in a variety of infrastructure projects, the Canadian Government has promised to spend money on climate-resilient public works. Despite the upfront costs, mitigation measures have yielded significant savings in Canada and worldwide. This article explores the role of PPPs in helping national infrastructure become more climate resilient.
Jim Bronskill, January 13, 2016. “Ralph Goodale: Infrastructure Monies To Be Earmarked For Disaster Preparation.” Huffington Post.
Here’s an interesting look at how public investment-led growth is bolstering the economies of a number of countries in different regions, and how public investment—instead of crowding out private investors—may actually help attract private investment. There’s also a useful link to a new IMF paper on “Crowding-Out or Crowding-In? Public and Private Investment in India.”
Dani Rodrik, January 13, 2016. “The Return of Public Investment.” Project Syndicate.
India has embarked on an ambitious quest to create 100 Smart Cities. A vast number of existing cities will need to be re-imagined and converted into Smart Cities. The challenges in the process of doing so are unique and will require extensive private sector investment. In this article, Karin Wanngard, Mayor of Stockholm, advises on how to transform an old city into a Smart City. (For further background, see the World Bank’s Resilient Cities Program, which reflects this conceptual shift and aims to help cities adapt to a greater variety of changing conditions and withstand shocks while maintaining essential functions.)
Karin Wanngard, January 17, 2016. “Infrastructure & Urbanization: Building Cities of the Future.” Business Today.
“The public sector is realizing the private sector brings more than just cash to the table; they bring redevelopment expertise, technological expertise, new kinds of innovation.” A thought-provoking read from the New York Times on an American PPP-in-progress with comments from Robert Puentes, Director of the Metropolitan Infrastructure Initiative at the Brookings Institute (and a contributor to the PPP Blog).
Lauren Herstik, January 12, 2016. “California Beach City Enlists Private Partner to Rejuvenate Pier.” NY Times.
We are all familiar with the tale of global urbanization and the demands this places on physical and social infrastructure across every region. Yet, the bulk of future urbanization will take place not in hyper- or megacities, but in small and medium-sized cities in low- and medium-income settings. In fact, the future geography of security and development will be marked by cities you’ve never heard of. What is more, the global slum population will expand from 1 billion to 2 billion people by 2040. There are tremendous opportunities in these fast-growing settings, but also unsettling risks.
Robert Muggah, January 6, 2016. “Development specialists must get to grips with fragile cities.” DevEx.
IFC’s PPP team has been very active in supporting India’s solar power ambitions for many years, including pioneering numerous rooftop solar PPPs. The Government of India is now pledging to increase the amount of solar power that can be generated in the country to 100 gigawatts by 2022. That’s more than 20 times India’s current solar deployment. It’s also more than all of Europe’s solar capacity, and more than half the world’s, as of the end of last year. How can India pull it off? In a new paper published by Stanford University’s Steyer-Taylor Center for Energy Policy and Finance, researchers Varun Sivaram, Gireesh Shrimali and Dan Reicher propose a roadmap.
Raymond Zhong, December 8, 2015. “How India’s Solar Ambitions Can Become Reality.” The Wall Street Journal