Applying Private Finance Initiative (PFI) in low self-liquidation public construction projects: Taking social housing as an example
Date Issued
2016
Date
2016
Author(s)
Ye, Xiao-Kang
Abstract
Public social housing projects are low self-liquidating and mostly run by the government. This not only limits opportunities for private participation, but also lays heavy financial burden for government treasury. In United Kingdom, Japan and Australia, low self-liquidating public social housing projects were carried out by means of Private Finance Initiative (PFI). With PFI, the private sector can provide professional services and hence increase market competition. This mechanism improves Value for Money (VfM) for public infrastructure projects. This thesis studies the differences between the British and Japanese PFI mechanisms, and Taiwan’s current public private partnership environment, and explores the “Value for Money (VfM)” quantitative analysis model for the evaluation of PFI projects. Real social housing projects in Taipei City and New Taipei City are used to verify and validate the proposed VfM model, and demonstrate how quantitative analysis can be carried out for PFI projects. The positive validation results show the appropriateness of the proposed VfM model, and might encourage future implementation of PFI in low self-liquidating public social housing projects.
Subjects
Social Housing
Low Self-Liquidation Government Infrastructure Project
Public Private Partnerships
Private Finance Initiative
Financial Model
Value for Money
Type
thesis
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