<p>This paper examines the causal effects of Public–Private Partnership (PPP) policy adoption on economic growth in 34 Asian economies over the period 2002–2022. Against the backdrop of widening infrastructure gaps and increasing fiscal constraints in emerging economies, PPPs have been promoted as alternative investment frameworks capable of mobilizing private capital and improving public investment efficiency. However, empirical evidence on their macroeconomic growth effects remains mixed, partly due to methodological challenges related to policy endogeneity and heterogeneous adoption timing. To address these issues, the study employs a staggered Difference-in-Differences framework, which allow for dynamic and heterogeneous treatment effects across countries and over time. The empirical results reveal a delayed but persistent positive growth effect, consistent with infrastructure time-to-build mechanisms and gradual institutional adjustment. These findings suggest that PPP adoption operates as a medium- to long-term structural reform rather than a short-term countercyclical or fiscal tool. From a policy perspective, the results underscore the importance of regulatory stability, institutional quality, and effective public investment management in ensuring that PPP-based infrastructure investment translates into sustained economic growth. The paper contributes to the international policy debate by providing robust causal evidence on the growth implications of PPP frameworks in emerging Asian economies.</p>