Photo: Gustave Deghilage | Flickr Creative Commons
Does experience in implementing Public-Private Partnerships (PPPs) reduce a country's chances of contract failure?
In a recent study entitled Do Countries Learn from Experience in Infrastructure PPPs, we set out to empirically test whether general PPP experience impacts the success of projects—in this case, captured by a project's ability to forego the most extreme forms of failure that lead to cancellation.
East Asia & Pacific
To start, the numbers speak for themselves. In 1992, 1,566 kids (14 years old and under) were killed in road crashes in South Korea. By 2014, children deaths dramatically decreased to only 53, the equivalent of an almost 97 percent reduction over that period of time. No other country that we know of has experienced such a remarkable reduction in only 22 years.
What made this achievement possible?
Although there isn't a single answer, the evidence shows that comprehensive policies played a crucial role in reducing children deaths due to road and traffic injuries.
Today’s global financial crisis is very much reminiscent of the 1997 Asian Financial Crisis. With the exports and labor-intensive industries being hit harder than Banda Aceh was with the tsunami that swept through its coasts, women were the most adversely affected. This was because of the strong gender composition of many of the most vulnerable industries today.