In view of the significance of public–private partnerships (PPPs) as a tool for bridging infrastructure deficits, it becomes imperative to study its determinants. The objective of this paper is to empirically study the determinants of PPPs in India at a subnational level, in terms of both number and value of PPP projects.,This study investigates the determinants of value and number of Indian PPPs at a subnational level for the period 2008–2017. The determinants are analyzed using two-step system generalized method of moments (GMM) and negative binomial regression. Select correlates examined are market size, fiscal compulsions, institutional quality, financial sector development and physical infrastructure.,The results indicate that fiscal compulsions, financial sector development and physical infrastructure influence PPPs favorably, whereas low institutional quality impacts PPPs adversely. A pertinent finding of this study is that the past value of PPPs lowers the current year's PPP value.,The findings are expected to assist subnational governments and policymakers in formulating policies that attract more PPP projects (in terms of both value and number).,This is the first study that analyzes the determinants of infrastructure PPPs at a subnational level in India.

中文翻译：

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公私伙伴关系的决定因素：对印度的国家级实证分析

鉴于公私合作伙伴关系作为弥合基础设施赤字的工具的重要性，必须研究其决定因素。本文的目的是从国家层面对PPP项目的决定因素进行实证研究，从PPP项目的数量和价值两方面进行研究。本研究调查了印度PPP在地方层面的价值和数量的决定因素。 2008-2017年。行列式使用两步系统广义矩（GMM）和负二项式回归进行分析。选择的相关因素包括市场规模，财政强制性，体制质量，金融部门发展和基础设施。结果表明，财政强制性，金融部门发展和基础设施对PPP具有有利影响，机构质量低下会对PPP产生不利影响。这项研究的一个相关发现是购买力平价的过去价值降低了当年的购买力平价价值。该发现有望帮助地方政府和政策制定者制定吸引更多购买力平价项目的政策（价值和数量）。这是第一项分析印度次国家级基础设施PPP决定因素的研究。