Abstract
The study analyses the institutional arrangements for: (1) private participation in the new Sydney Harbour Tunnel, and (2) the provision of new terminals at minor airports operated by a public-sector corporation that has been given commercial objectives. The main findings are that the commercial elements probably do secure efficient management of construction, but otherwise reap few of the efficiency benefits that such arrangements are said to provide; and that when there are tight constraints on government budgets, such funding mechanisms make it easier for governments to promote their favoured schemes. (Author/publisher).