The Efficacy of Public–Private Partnerships in Financing Transport Infrastructure in Zambia: An Institutional Political Economy Perspective
DOI:
https://doi.org/10.59413/ajocs/v7.i2.34Keywords:
Public–Private Partnerships, Infrastructure Finance, Institutional Capacity, Risk Allocation, Zambia, Infrastructure PolicyAbstract
Public-Private partnerships (PPPs) have increasingly been adopted by developing countries as mechanisms for addressing infrastructure financing gaps amid fiscal constraints (Helmy,2020; Mofokeng et al., 20230). Zambia has embraced PPPs within the transport sector to mobilize private investment and accelerate infrastructure development(Muleya et al., 2019). Despite strong policy adoption, empirical evaluation of PPP effectiveness remains limited. This article critically examines the efficacy of PPPs in financing transport infrastructure in Zambia through an institutional political economy framework. Drawing on qualitative policy analysis and institutional evidence, the study finds that PPPs have contributed to infrastructure expansion and financing diversification but have achieved only partial success in risk transfer and fiscal sustainability. Institutional capacity constraints, governance fragmentation, and macroeconomic volatility significantly shape partnership outcomes. the paper argues that PPP effectiveness depends less on private participation itself and more on state capacity in managing long term contractual relationships. the study contributes to infrastructure governance scholarship by demonstrating hoe institutional context mediates PPP performance in developing economies and offers policy lessons for sustainable infrastructure financing in Sub-Saharan Africa.
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