Faktory ovlivňující využívání PPP projektů při realizaci staveb dopravní infrastruktury

This thesis examines the macroeconomic and fiscal factors that influence the use of off-balance-sheet PPP projects across European Union member states and tests whether their use reflects the presence of fiscal illusion. The aim of the thesis is to determine whether higher levels of government debt, the degree of economic development, and the volume of traditional investment expenditure are associated with the use of off-balance-sheet PPP projects. The analysis is based on panel data from 27 EU member states covering the period 2013–2023 and applies a weighted least squares (WLS) model with robust standard errors. The results show that the use of PPP projects is positively associated with the level of public debt, is more common in less economically developed countries, and at the same time exhibits a substitutive relationship with traditional transport investment. These findings suggest that, in addition to their infrastructure function, PPP projects may also serve as a tool for shifting part of the investment burden outside the official balance sheet of the public sector.