Analysis reveals how compliance with international PPP standards influences investment, suggesting a new regulatory framework.
The emergence of a transnational legal order for public-private partnerships (PPPs) is increasingly evident, driven by formalized norms like the United Nations Commission on International Trade Law's Model Legislative Provisions on PPPs (2019) and a global PPP community with a transnational legal culture. Key players, including multilateral development banks, voluntarily adhere to these standards, even though they are just soft laws. The Kazakhstan case study provided in this article demonstrates how compliance with international PPP standards secures investment, highlighting the psychological impact of non-State-created norms. This phenomenon supports the existence of the lex PPP as a specialized subset of the new lex mercatoria, rooted in social reality.
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Shaimerden Chikanayev (2025) studied this question.
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