Financialization – the next stage in PPP development

Anne Stafford, Stewart Smyth, Marta Almeida

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

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Financialization has been an implicit underlying concept in the development and growth of PPPs, following the public sector’s increasing dependency on the use of capital markets. This chapter focuses on concepts of financialization arising from the global macro-economic rise of financial markets, including secondary markets, for capital accumulation, and the shareholder value revolution. It traces the emergence of financialization as a phenomenon important in shaping PPP policy and operations, analyses current literature on financialization and PPPs and provides examples of the complexity arising from financialization in PPPs at the macro, meso and micro levels. The chapter concludes by proposing a research agenda which captures the enduring trend of financialization for PPP research.
Original languageEnglish
Title of host publicationResearch Agenda for PPPs and the Governance of Infrastructure
Subtitle of host publicationNew frontiers and themes in a contested world
EditorsGraeme Hodge, Carsten Greve
Place of PublicationUnited Kingdom
PublisherEdward Elgar
Number of pages23
ISBN (Electronic)978 1 83910 587 6
ISBN (Print)978 1 83910 587 6
Publication statusPublished - 21 Apr 2022


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