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The practice of using contracts and financial instruments as 'accounting prosthetics' to approximate long-horizon commitment within frameworks that cannot otherwise represent it. In the absence of categories for continuity, mission cycles, and deferred fragility, public finance substitutes what accounting can see: contractual obligations and payment streams.
PPPs allow governments to simulate long-horizon commitment through binding contracts with private partners. The price of this simulation is rigidity, opacity, and long-term cost—but the arrangement fits within existing accounting categories.
ABS Section 5.4