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Opportunities for Encouraging the Railway Infrastructure Investments through Application of Public-Private Partnerships

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  • Hristina Nikolova

Abstract

The transport infrastructure is of crucial importance for efficient transport and economic development and this brings to the fore the issue of ensuring the financial resources needed for its development. Furthermore, in order to achieve the EU transport policy’s goals related to rebalancing European transport system and reviving railways, it is necessary to call up not only EU and budget funding but the private ones, as well. An important opportunity is to use public-private partnerships for solving the problems with inadequate level of investments in railway infrastructure, as well as for distribution of different project risks.The article suggests an analysis of different forms of PPP in railway transport and it defines different areas of application of PPPs and their benefits. Finally, the authors have presented an evaluation model for risks for public and private sectors in cases of application of PPP for building the railways corridors through the territory of Bulgaria. They conclude the real advantages of using this evaluation model in decision making process for the selection of the most appropriate form of public-private partnership if it is applicable.

Suggested Citation

  • Hristina Nikolova, 2017. "Opportunities for Encouraging the Railway Infrastructure Investments through Application of Public-Private Partnerships," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 2, pages 82-112.
    • Handle: RePEc:bas:econst:y:2017:i:2:p:82-112
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    References listed on IDEAS

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    1. Darrin Grimsey & Mervyn K. Lewis, 2004. "Public Private Partnerships," Books, Edward Elgar Publishing, number 2438.
    2. Kappeler, Andreas & Nemoz, Mathieu, 2010. "Public-Private Partnerships in Europe - Before and During the Recent Financial Crisis," Economic and Financial Reports 2010/4, European Investment Bank, Economics Department.
    3. Stephen Perkins, 2013. "Better Regulation of Public-Private Partnerships for Transport Infrastructure: Summary and Conclusions," International Transport Forum Discussion Papers 2013/6, OECD Publishing.
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    More about this item

    JEL classification:

    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning

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