PARTENARIATI PUBBLICO-PRIVATI PER INVESTIMENTI E SERVIZI

PARTENARIATI PUBBLICO-PRIVATI PER INVESTIMENTI E SERVIZI

Luciano Giovanni Greco

Instructional goals

Students will acquire knowledge, skills and competences useful for the analysis and economic-financial evaluation of the forms of interaction between the public sector and businesses, with a particular focus on public-private contracts for the realization of public investments and the provision of services of collective interest.

Intended learning outcomes

Knowledge and understanding of the economics of public-private partnerships for investments and public services; Ability to apply knowledge and understanding, particularly in the context of case studies analyzed in classes and in working groups; Ability to identify and collect useful data to carry out group work; Ability to communicate the results of original analysis to working-group colleagues and to organize proper communication outside the group; Learning new skills that are useful to carry out individual study and group work.

Course Contents

Analysis of the economics of different forms of interaction between the public sector and businesses, with particular focus on public-private contracts for the realization of public investments and the provision of services of collective interest. These are fundamental tools for the realization of various economic, industrial, environmental and social policy objectives. The pursuit of the objectives of efficiency and social sustainability of public intervention is limited by institutional and information constraints that determine procedural rigidities, poor measurability of ex post performance and agency problems (e.g. opportunism, favoritism, corruption, clientelism). Introduction of the main to analyze the considered issue, with particular focus on case studies and on the main assessment techniques.

Reference Books

The compulsory materials for the preparation of the exam as non-attending student are the volumes and documents indicated below by n. 1 to no. 6: 1. Dosi et al. (2003). La Valutazione dei progetti d'investimento pubblici. Linee Guida. Quaderni del NUVV ‐ 1. Regione del Veneto. (volume disponibile tra i materiali del corso, in seguito: Dosi et al. 2003) 2. DG Politica Regionale e Urbana, Commissione Europea (2015). Guida all’analisi costi-benefici dei progetti di investimento. (documento disponibile tra i materiali del corso, in seguito: EC 2015) 3. Engel, E., Fischer, R.D. and A. Galetovic (2014), The Economics of Public-Private Partnerships. A Basic Guide. Cambridge University Press. (volume da reperire in libreria, in seguito: EFG 2014) 4. Greco L. (2018) “Public-Private Partnerships". In: Marciano A., Ramello G. (eds) Encyclopedia of Law and Economics. Springer. (articolo disponibile tra i materiali del corso, in seguito: Greco 2018) 5. DG Politica Regionale e Urbana, Commissione Europea (2021). Economic Appraisal Vademecum 2021-2027 - General Principles and Sector Applications (documento disponibile tra i materiali integrativi del corso) 6. AAVV (2022). Climate Toolkits for Infrastructure PPPs. The World Bank Group documento disponibile tra i materiali integrativi del corso) The compulsory materials for the preparation of the exam as attending student are the slides of the lessons and the parts of the volumes from n. 1 to no. 4 indicated below for each week of teaching sessions

Teaching Methods

Online and on campus lectures, exercises, group works.

Assessment Method

Attending students: 1) Continuous assessment a) First test: in the eighth or ninth week of the course, test to support attendance on the platform Luiss Learn on the materials of the first 7 weeks of the course (45% of the evaluation) b) Second test: between the eleventh and the twelfth week of the course, presentation of group work (25% of the final evaluation) 2) Final exam (30% of the final evaluation) Written exam at the end of the course on all course materials Non-attending students: 1) First part of the exam on the materials indicated as reference texts for non-attending students (70% of the final evaluation) 2) Second part of the exam equal to the final exam for attending students (30% of the assessment)

Thesis assignment criteria

Thesis argument will be assigned to interested students who passed the exam with a minimum mark of 27.

Week 1 Contenuto sessioni on line e on campus

Introduction (prof. Greco, on campus –breakout): subject and structure of the course; learning and assessment process. Readings: - slides; - EFG 2014, chapter 1; - Greco 2018. Part 1 (prof. Greco, on campus - plenary): The economics and finance of PPPs: the issue and the international experience; theoretical and empirical analytical tools; references to economics and management literature on public-private contracts. Readings: - slides; - EFG 2014, chapters 1, 2, 3 and 9; - Greco 2018. Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides.

Week 2 Contenuto sessioni on line e on campus

Part 1 (prof. Greco, on campus – plenary/breakout): The economics and finance of PPPs: key case studies and open policy issues. Readings: - slide del corso; - EFG 2014, chapters 1, 2, 3 and 9; - Greco 2018. Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides.

Week 3 Contenuto sessioni on line e on campus

Part 1 (prof. Greco, on campus – breakout): Incentives in PPPs. A simple model to compare results under asymmetric information and contract incompleteness. Readings: - slides; - EFG 2014, chapter 4 and Appendix; - Greco (2018). Part 2 (dr. Corti, on campus – plenary): Introduction to feasibility studies to assess public investments and PPPs. Readings: - slides; - Dosi et al. 2003, chapters 3, 4 and 5. Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides.

Week 4 Contenuto sessioni on line e on campus

Part 1 (prof. Greco, on campus – plenary): Incentives in PPPs. A simple model to compare results under asymmetric information and contract incompleteness. Readings: - slides; - EFG 2014, chapter 4 and Appendix; - Greco (2018). Part 2 (dr. Corti, on campus – breakout): Introduction to feasibility studies to assess public investments and PPPs. Readings: - slides; - Dosi et al. 2003, chapters 3, 4 and 5. Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides.

Week 5 Contenuto sessioni on line e on campus

Part 2 (dr. Corti, on campus – breakout): The financial analysis and cost benefit analysis of public investments. Readings: - slides; - Dosi et al. 2003, chapters 6 and 7; - EC 2015, chapter 2 and Allegato II. Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides. Exercises/Group works (prof. Greco, plenary).

Week 6 Contenuto sessioni on line e on campus

Part 2 (dr. Corti, on campus – plenary): The financial analysis and cost benefit analysis of public investments. Readings: - slides; - Dosi et al. 2003, chapters 6 and 7; - EC 2015, chapter 2 and Allegato II. Exercises (dr. Corti, on campus – breakout) Part 3 (prof. Greco, online): Methodology of the analysis of case studies, applications to PPPs. Readings: - slides.

Week 7 Contenuto sessioni on line e on campus

Part 2 (dr. Corti, on campus – breakout): The cost-benefit analysis of public investments and PPPs. Readings: - slides; - Dosi et al. 2003, chapter 7; - EC 2015, chapter 2 and Allegati IV e VI; - EFG 2014, chapter 5. Exercises/Group works (prof. Greco, online + plenary).

Week 8 Contenuto sessioni on line e on campus

Exercises/Group works (dott. Corti, on campus – plenaria / breakout). Continuous Assessment: first part exam (prof. Greco, online).

Week 9 Contenuto sessioni on line e on campus

Part 1 (prof. Greco, on campus - plenary): Risk and incentives in PPPs: asymmetric information, contract incompleteness, property rights on assets, renegotiation issues. Readings: - slides; - EFG 2014, chapters 4, 7 and Appendix. Exercises/Group works (dott. Corti, on campus – breakout). Exercises/Group works (prof. Greco, online).

Week 10 Contenuto sessioni on line e on campus

Parte 2 del corso (dott. Corti, on campus – plenary): The cost-benefit analysis of public investments and PPPs. Readings: - slides; - Dosi et al. 2003, chapter 7; - EC 2015, chapter 2 and Allegati IV e VI; - EFG 2014, chapter 5. Exercises (dr. Corti, on campus – breakout) Exercises/Group works (prof. Greco, online).

Week 11 Contenuto sessioni on line e on campus

Students’ seminars that are based on group works (online / on campus – plenary/breakout): case studies.

Week 12 Contenuto sessioni on line e on campus

Students’ seminars that are based on group works (onind / on campus – plenary): case studies. Exercises (dr. Corti, on campus – breakout)