The risks in private financing of public projects
DOI:
https://doi.org/10.48143/rdai.37.mairalKeywords:
Private financing of public projects, Allocation of risks, Public Private Partnership, The fact of the prince, The theory of unpredictability, Exorbitant clause, Currency RiskAbstract
In the last part of nineteenth century, private participation began to take center stage in the economic sphere, generating private that are the main financiers of public projects and not the State, in order to achieve greater efficiency in resource management public. In this regard, developing forged various mechanisms that would enable and incentivize the private investment in areas that used to be reserved to the State. Within these mechanisms find project financing, public leasing and PPPs, which will differ depending on the type of work and the risks they take private searches. On the issue of the risks, these are very diverse and vary according to the stage in which is found the project, hence, is of great interest optimally allocate private and state these risks in order to obtain the greatest efficiency and economic benefit. For this, the State may exercise an important role in mitigating these risks and ensure legal certainty of their contracts and establish an efficient system of dispute resolution, all aimed at ensuring and encouraging more private participation in the economy.
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