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See detailRegional Development Banks and the promotion of Public-Private Partnerships: the EIB as a case study
Howarth, David UL; Liebe, Moritz

in Clifton, Judith; Diaz Fuentes, Daniel; Howarth, David (Eds.) Regional Banks in the World Economy (2021)

Most Regional Development Banks in the world have engaged in the increased promotion and use of Public Private Partnerships (PPPs). To explain this rapid and ubiquitous spread of Public Private ... [more ▼]

Most Regional Development Banks in the world have engaged in the increased promotion and use of Public Private Partnerships (PPPs). To explain this rapid and ubiquitous spread of Public Private Partnership promotion and use, this chapter argues that Regional Development Banks can be seen to have acted as agents engaged in slippage. Most—if not all—of their shareholding national governments and loan recipient countries had limited or no prior experience with and knowledge of PPP financing. This activism on the part of Regional Development Banks can also be seen in both Multilateral Development Bank and National Development Bank promotion of PPPs and reinforces wider claims in the literature. More generally, Gavin and Rodrik (1995) argue that International Financial Institutions (IFIs) bolster their long-acquired skills in technical and information expertise in order to remain relevant—a claim that this chapter explores with regard to PPPs in particular. The promotion of PPPs should also be seen in terms of Regional Development Banks operating as agents to move beyond the correction of market failure towards the creation and/or shaping of markets through a particular financing mechanism and with specific market actors (Mazzucato and Penna 2016: 305). [less ▲]

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See detailThe European Investment Bank as Policy Entrepreneur and the Promotion of Public-Private Partnerships
Howarth, David UL; Liebe, Moritz

in New Political Economy (2019), Early View

This paper focuses on the important role of the European Investment Bank (EIB) in the European Union’s promotion of Public-Private Partnerships (PPPs). We first demonstrate the relative importance of the ... [more ▼]

This paper focuses on the important role of the European Investment Bank (EIB) in the European Union’s promotion of Public-Private Partnerships (PPPs). We first demonstrate the relative importance of the EIB in relation to the European Commission on the promotion of PPPs. We then argue that the activism of the EIB on PPPs can be explained in terms of the bank’s operation as a policy entrepreneur. The paper further explains that the entrepreneurial role of the EIB with regard to PPPs relied massively on the presence of a small number of, principally British, ‘norm entrepreneurs’ who actively promoted the PPP concept and the specific norms that supported it within the EIB. While there are indications that the EIB operated as a rational actor in its promotion of PPPs, we argue that ideas ultimately drove the pro-PPP activism of both individual EIB officials and the institution collectively. [less ▲]

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