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Public–private partnerships : Lessons from Korea on institutional arrangements and performance

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Frame of Image  Korea on Institutional P Arrangements and Performance
Supervised by	 Prepared by	 Author	
Ministry of Strategy and Finance (MOSF), Republic of Korea Korea Development Institute (KDI) 	 ay-Hyung Kim, Korea Development Institute (KDI), J Senior Fellow (World Bank, Adviser) Seung-yeon Lee, KDI PIMAC, Infrastructure & PPP Specialist
Research Management	 Supported by	
KDI School of Public Policy and Management 	 Ministry of Strategy and Finance (MOSF), Republic of Korea
Government Publications Registration Number 11-7003625-000084-01 ISBN 979-11-5545-040-6 94320 ISBN 979-11-5545-032-1 [SET 42] Copyright © 2013 by Ministry of Strategy and Finance, Republic of Korea
Government Publications Registration Number 11-7003625-000084-01
Knowledge Sharing Program
2012 Modularization of Korea’s Development Experience
Public–Private Partnerships: Lessons from Korea on Institutional Arrangements and Performance
Preface
The study of Korea’s economic and social transformation offers a unique opportunity to better understand the factors that drive development. Within one generation, Korea has transformed itself from a poor agrarian society to a modern industrial nation, a feat never seen before. What makes Korea’s experience so unique is that its rapid economic development was relatively broad-based, meaning that the fruits of Korea’s rapid growth were shared by many. The challenge of course is unlocking the secrets behind Korea’s rapid and broad-based development, which can offer invaluable ins


Full Text
Title Public–private partnerships
Similar Titles
Sub Title

Lessons from Korea on institutional arrangements and performance

Project Category Development Cases
Material Type Reports
Author(English)

Kim, Jay-Hyung; Lee, Seung-yeon

Publisher

Seoul:KDI School of Public Policy and Management

Date 2013
Project Development Cases
Series Title; No Knowledge Sharing Program: KSP Modularization
ISBN 979-11-5545-040-6 94320; 979-11-5545-032-1 [SET 42]
Pages 142
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Territorial Development < General
Holding KDI School of Public Policy and Management
Supervisor KDI School of Public Policy and Management
Organizer Ministry of Strategy and Finance(Republic of Korea); Korea Development Institute
Sponsor Ministry of Strategy and Finance(Republic of Korea)
Project Term 2012-01-01 ~ 2012-12-31

Abstract

There exists no standard definition of what constitutes a public-private partnership. The OECD (2008) defines a public-private partnership as: an agreement between the government and one or more private partners, according to which the private partners deliver the service in such a manner that the service delivery objectives of the government are aligned with the profit objectives of the private partners, and where the effectiveness of the alignment depends on a sufficient transfer of risk to the private partners. The United Kingdom defines a public-private partnership as “arrangements typified by joint working between the public and private sectors. In their broadest sense they can cover all types of collaboration across the private-public sector interface involving collaborative working together and risk sharing to deliver policies, services and infrastructure.” (HM Treasury, 2008). The most common type of PPP in the United Kingdom is the Private Finance Initiative, which describes an arrangement where the public sector purchases services from the private sector under long-term contracts. (The rest omitted)

User Note

[Review]
It is good reference for those who are interested in understanding the way in which Korea's PPP system worked. It also demonstrated how the PPP helped not only promoting infrastructure development, but generating private businesses, thus contributing to government budget cut and to economic growth.