Edited by Graeme A. Hodge, Carsten Greve and Anthony E. Boardman
Chapter 16: P3s in North America: Renting the Money (in Canada), Selling the Roads (in the USA)
Anthony E. Boardman and Aidan R. Vining Introduction This chapter focuses on the experience with public–private partnerships in the USA and Canada (hereafter, North America) since 2000. (For information about the experience in North America before 2000, see Boardman et al., 2005; Vining et al., 2005; Vining and Boardman, 2008a.) In the USA, public–private partnerships are generally referred to as PPPs, while in Canada they are generally referred to as P3s. Here, we adopt the P3 abbreviation. Different authors have defined P3s in different ways. In this chapter, we use a relatively narrow definition that focuses on PFI-type P3s, that is, infrastructure projects where the private sector engages in a significant part of the finance (F), design (D), build (B), operate (O) and maintain (M) activities and where ownership is either immediately or ultimately transferred (T) to the public sector: effectively long-term FDBOMT contracts for the provision of public infrastructure. However, to fit within our definition of a P3, the private sector partner does not have to comprehensively engage in the finance, design, build, operate and maintenance activities in order to be thought of as a P3 – just most of them. The beginning of the twenty-first century has seen the emergence of a number of developments that will determine the future role of P3s in North America. A dominant trend in the early part of the decade (2002–07) was the emergence of governmental institutional structures for the development and management of P3s. Across North America, governments at...
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