Purpose Maximising real efficiency benefit (REB) is currently being replaced with access to private finance as core public–private partnership (PPP) adoption motive. This later choice focusses on short-term performance, compromising REB and the procurement of infrastructure that meets the need of the present and future generations, which the former accomplishes. The paper aims to review these observed changes to understand the rationales and significance behind such switch.Design/methodology/approach Secondary data powered exploratory study. Deployed X-inefficiency theory to triangulate and reduce bias and select country cases to provide the proper foundation for the descriptive “what happened?” question, such as “what was the failure concerns with a particular adoption choice?”Findings The shift to accessing private finance adoption motive against REB failed to improve PPP project performance or meet efficiency and sustainability. Instead, it allows the private sector to assume financial risk without synergistic monitoring from the government to determine their contractual and commitment trust level, which would help achieve the five-dimensional sustainable performance measurement system for PPP. This led to the struggles of PPP projects in Portugal and Spain, where cost overruns and high demand forecast led to project failures. A recommendation, blended finance with its technical assistance additionality, is considered pivotal to addressing access to private finance motive shortcomings.Originality/value This study improves best practices for new and existing adopters by systematically establishing that adoption ideology is a cardinal variable that influences PPP project success. When not correctly adopted, it can make the most successful structured projects face complexities and uncertainty.

中文翻译：

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采用选择如何影响公私合作的结果？西班牙和葡萄牙交通基础设施的经验教训

目的 最大化实际效率收益 (REB) 目前正被获取私人融资所取代，作为核心公私合作 (PPP) 采用动机。后者的选择侧重于短期绩效、折衷 REB 和采购满足当代和后代需求的基础设施，前者实现了这一点。本文旨在回顾这些观察到的变化，以了解这种转换背后的基本原理和意义。设计/方法/方法 辅助数据驱动的探索性研究。运用 X-inefficiency 理论进行三角测量和减少偏见，并选择国家案例，为描述性“发生了什么？”提供适当的基础。问题，例如“特定采用选择的失败问题是什么？” 调查结果 转向获取私人融资采用反对 REB 的动机未能提高 PPP 项目绩效或满足效率和可持续性。相反，它允许私营部门在没有政府协同监督的情况下承担财务风险，以确定他们的合同和承诺信任水平，这将有助于实现 PPP 的五维可持续绩效衡量体系。这导致葡萄牙和西班牙的 PPP 项目陷入困境，成本超支和高需求预测导致项目失败。一项建议，即混合融资及其技术援助额外性，被认为是解决获得私人融资动机不足的关键。原创性/价值 本研究通过系统地确定采用意识形态是影响 PPP 项目成功的主要变量，改进了新的和现有采用者的最佳实践。如果没有正确采用，它会使最成功的结构化项目面临复杂性和不确定性。