Public-Private Partnerships and Value for Money

The implementation of infrastructure projects is one element that drives economic development. When considering the high costs and complexity of these projects, the importance of analysis is highlighted a little more than traditional value for money when such projects are carried out in a public-private partnership. This article examines the state of the art of research on evaluating public-private partnership performance considering evidence of value for money. For this purpose, a systematic literature review was conducted based on the scientific production available in the Scopus and Web of Science databases. The main contributions of this study consist of presenting (1) a set of papers on performance evaluation that considers VfM as a complement to its evaluation systems, comparatively or inclusively in its analyses; (2) a methodological framework; and (3) guidelines for future research. This study provides insights for developing empirical studies in a wide range of contexts or sectors.