Description

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1. Introduction2. Development of public-private partnerships (PPPs) in diversified economic areas2.1 Genesis and concepts: project finance and public-private partnerships2.2. General legal, economic and organisational conditions of public-private partnerships in the European Union2.3 Development of public-private partnerships in conventional and Islamic economies2.4 Sub-Saharan Africa as a region of interest to foreign investors3. Public-private partnership in the light of risk and public finance theories3.1. Risk and its management in economic and financial theory3.2. Public finance functions and risk3.3. Internal and external risk determinants in public-private partnerships3.4. Risks and functions of Islamic public finance4. Heterodox Approach to Public-Private Partnership4.1 Main Schools of Thought in Public Finance and Rules of Islamic Moral Economy (IME)4.2. Agency Theory Vs. Islamic Finance4.3. Public Choice Theory and Social Choice Theory Vs. Islamic Finance4.4. Islamic Moral Economy (IME) Vs. Social Responsibility in Conventional Business4.5. Heterodox Approach to the Pillars of Public-Private Partnership5. Determinants of the attractiveness of public-private partnership in a heterodox perspective5.1. Determinants of the attractiveness of public-private partnerships from the point of view of a conventional investor5.2. Determinants of the attractiveness of public-private partnerships from an Islamic investor's point of view5.3. Determinants of the attractiveness of public-private partnerships for the public partner5.4. Heterodox approach to public-private partnership and the resilience of infrastructure investment to global financial crises6. Example of investments in the formula of public-private partnership using the heterodox perspective6.1. Assumptions concerning an exemplary public-private partnership project6.2. Risk management in public-private partnerships on the basis of the proposed heterodox approach6.3. Advantages and disadvantages of the investment in the proposed formula according to the heterodox approach7. Conclusion: Heterodox approach to public-private partnershipReferences

About the Author

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Hanna Kociemska is an Assistant Professor at the Department of Finance of the Wroclaw University of Economics in Poland. Her research focuses on public-private partnerships, financing of entities in the public finance sector and the management of investment projects, particularly in health care. She has received numerous national and international awards, including the Minister of Science and Higher Education's Award for her doctoral thesis as well as international postdoctoral fellowships at universities in the USA, Republic of South Africa, and Scotland. Most of her scientific publications address public-private partnerships, local development financing, risk in conventional finance theory and Islamic finance, as well as intellectual capital valuation in public finance sector entities.