We investigate how different conceptions of distance impact upon one of the fundamental
decisions made by foreign investors, the choice of foreign direct investment (FDI) location …

… Frédéric Blanc-Brude is an economist specialised in infrastructure projects and a
consultant. He visited the EIB during his Ph.D. … Blanc-Brude et al. … Blanc-Brude et al. …

Theoretical literature suggests a variety of reasons why a public-private partnership (PPP)
should exhibit higher costs of construction than traditionally procured public infrastructure …

This paper offers an updated description of the macroeconomic and sectoral significance of
PPPs in Europe, without assessing PPPs from a normative perspective. It shows that, over …

This article presents the findings of a recent analysis of the drivers of credit spreads in
project finance loans to public‐private partnerships, or PPPs, an increasingly popular form of …

… -Risk Institute, Frederic Blanc-Brude explains why and what research and benchmarking
efforts are necessary to create investment solutions that realign expectation and performance. …

Using new data, we show that construction risk in infrastructure project finance is well-managed
and that project sponsors face very little construction risk compared to the well-…

This study examines the portfolio-diversification benefits of listed infrastructure stocks. We
employ three different definitions of listed infrastructure and tests of mean–variance spanning. …

In this article, the authors develop a structural credit risk model that relies on cash flow data
to derive credit risk metrics. The model is useful for illiquid assets for which a time series of …

This paper uses a new dataset, WATSAN, of private sector participation (PSP) projects for
water and sanitation in developing countries to examine the determinants of the number of …