Inversión en infraestructura de transportes en la modalidad de Asociaciones Público-Privada y su impacto en el crecimiento económico durante el periodo 2001-2021

Abstract

Since the 1990s, the Peruvian state has undertaken a process of promoting prívate investment as a policy of economic stability and market liberalization. Public-Private Partnerships (PPP) were one of the modalities for the participation of private investment to close the infrastructure gap and guarantee optimal service levels. In Peru, PPPs have been implemented in the transportation, energy, sanitation, health, education, and telecommunications sectors. This research seeks to quantify the impact of private investment in transportation sector infrastructure under the modality of Public-Private Partnerships (PPP) on the economic growth of Peru at the regional level during the period 2001-2021, and identify the type of public nvestment or private infrastructure in the transportation sector that has the greatest impact on economic growth. For the estimates, a conventional panel data methodology with fixed effects is used, in which the aim is to find the effect of public investment and private nvestment under the Public-Private Partnership modality in transportation on the gross domestic product per capita. The research results suggest that private investment in transportation sector infrastructure under the public- private partnership modality has a positive and significant impact. A 1% increase in public investment in transportation nfrastructure raises regional GDP by 0.05%, while an equivalent increase in private investment under the PPP modality raises GDP by 0.03%. These results are consistent with other studies, such as those by Machado and Toma (2017) and Vergara (2019), which have also evaluated the impact of investment in infrastructure on Peruvian economic growth. Private investment has a slightly smaller impact on economic growth than public investment. This can be attributed to various factors, such as the slowdown in PPPs since 2015, implementation problems identified by the IDB, and the limited contribution of subnational governments through their OPIPs.