Government Guarantees and Private Capital Mobilisation in PPP Transport Projects: Deal-Level Dataset, 1995-2023

This dataset supports the study "Government Guarantees and Private Capital Mobilisation in Public-Private Partnership Transport Projects: The Moderating Role of Sovereign Credit Ratings." It contains a chronologically ordered deal-level panel of 1,673 transport PPP transactions (roads, railways, ports, and airports) that reached financial closure between 1995 and 2023 across 52 low- and middle-income countries. The workbook contains two sheets. Sheet 1 (PPP_Transport_Deals) holds the analytical sample with 23 variables per deal, including total and private investment (USD millions), the private capital mobilisation share (PRIVSHARE), guarantee incidence (GUAR) and guarantee type (GTYPE), long-term foreign-currency sovereign ratings from S&P, Moody's, and Fitch converted to a 21-point numerical scale (RATING_21), the mean-centred rating and guarantee-rating interaction terms used in the fractional logit estimation, award method, and country-year macroeconomic and institutional controls (GDP per capita, inflation, and WGI regulatory quality). Sheet 2 (Codebook_and_Sources) documents the sample inclusion criteria, variable definitions, coding rules, and underlying data sources. The dataset was compiled from the World Bank Private Participation in Infrastructure (PPI) database, published sovereign rating histories from S&P Global Ratings, Moody's Investors Service, and Fitch Ratings, the World Development Indicators, and the Worldwide Governance Indicators. A deal enters the sample only if investment values, government support fields, and concession country are non-missing and the host country holds at least one long-term foreign-currency sovereign rating in the financial-closure year.