ABSTRACT
An arrangement between a municipality and one or more private firms, where all parties involved share risks, profit, utilities and investments (Haider 1986) through a joint ownership of an organization constitutes a public-private partnership (PPP). It is one of the several forms that the municipal production of services and products can assume (Borys and Jemison 1989; Mackintosh et al. 1994; Mohr and Spekman 1994). In the USA, it has been a means of gathering capital and competencies for downtown redevelopment projects (Davis 1986; Stephenson 1991), in England a way of achieving local economic redevelopment (Bennet and Krebs 1990; Field 1990) and in Germany it has served similar purposes (Jochaimsen 1990).
