Istemi Demirag, Melvin
Dubnick and M. Iqbal Khadaroo, Queen’s University, UKThis
paper seeks to develop a system for evaluating the implications of accountability
and value-for-money (VFM) decisions in private finance initiative (PFI) projects
from initiation through set-up, implementation and internal and external monitoring.
By reviewing the extant literature on accountability and VFM, a model is developed
for evaluating the implications of various types of accountability and VFM decisions
on PFI projects. Most previous studies have considered either the accountability
or VFM at the projects’ initial stages; little attention has been paid to
the interrelationship between accountability and VFM issues in the evaluation
of various PFI processes. This paper addresses these lacunae in the literature. To
be reprinted in Towards Better Regulations, Accountability and Governance:
Global Perspectives from Corporations and Civil Society edited by I. Demirag,
to be published by Greenleaf Publishing UK, in August 2005. |