Financialization: The next stage in PPP development

Anne Stafford, Stewart Smyth, Marta Almeida

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


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 publicationA Research Agenda for Public-Private Partnerships and the Governance of Infrastructure
PublisherEdward Elgar Publishing
Number of pages24
ISBN (Electronic)9781839105883
ISBN (Print)9781839105876
Publication statusPublished - 1 Jan 2022


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