(Re)defining public-private partnerships (PPPs) in the new public governance (NPG) paradigm: an institutional maturity perspective

Infrastructure public-private partnerships (PPPs) are dominantly seen as part of an increasingly fragmented and uncertain public management paradigm known as New Public Governance (NPG). However, the effects of institutional maturity on PPP utilization within this domain remain understudied. In order to (re)define PPPs within the NPG paradigm, we develop a PPP institutional maturity model based on three institutional capabilities-legitimacy, trust, and capacity. We then use the U.S. PPP market as a case example to explore how the maturity of PPPs in an institutional setting depends on legitimacy, trust, and capacity in the PPP model.