IDEAS home Printed from https://ideas.repec.org/a/eee/trapol/v41y2015icp23-32.html
   My bibliography  Save this article

Motorways economic regulation: A worldwide survey

Author

Listed:
  • Beria, Paolo
  • Ramella, Francesco
  • Laurino, Antonio

Abstract

During the last few decades, the motorways sector greatly expanded around the world. Today it represents an essential infrastructure asset of a country. In the majority of cases the network was initially built and maintained with public funds through direct state provision. In the early 1990s many developed and emerging countries moved towards private involvement in toll roads provision, increasing the need for sound economic regulation. However, no comprehensive analysis of the existing regulatory and institutional frameworks has been carried out so far. Starting from a survey involving 21 countries, the paper tries to fill in this gap through a review of existing motorway regulatory frameworks. Various aspects of regulation have been collected and analysed in order to provide an overview of the current practices, both in quantitative and qualitative terms evidencing the strengths and the weaknesses among the various models.

Suggested Citation

  • Beria, Paolo & Ramella, Francesco & Laurino, Antonio, 2015. "Motorways economic regulation: A worldwide survey," Transport Policy, Elsevier, vol. 41(C), pages 23-32.
    • Handle: RePEc:eee:trapol:v:41:y:2015:i:c:p:23-32
    DOI: 10.1016/j.tranpol.2015.03.010
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0967070X15000475
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.tranpol.2015.03.010?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2003. "Privatizing Highways in Latin America: Fixing What Went Wrong," Economía Journal, The Latin American and Caribbean Economic Association - LACEA, vol. 0(Fall 2003), pages 129-164, August.
    2. Bousquet, Franck & Fayard, Alain, 2001. "Road infrastructure concession practice in Europe," Policy Research Working Paper Series 2675, The World Bank.
    3. Ahmed M. Abdel Aziz, 2007. "A survey of the payment mechanisms for transportation DBFO projects in British Columbia," Construction Management and Economics, Taylor & Francis Journals, vol. 25(5), pages 529-543.
    4. Eduardo M.R.A. Engel & Ronald Fischer & Alexander Galetovic, 2003. "Privatizing Highways in Latin America: Is It Possible to Fix What Went Wrong?," Working Papers 866, Economic Growth Center, Yale University.
    5. Germà Bel & John Foote, 2007. "Comparison of Recent Toll Road Concession Transactions in the United States and France," Working Papers XREAP2007-11, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2007.
    6. Laurino, Antonio & Grimaldi, Raffaele, 2010. "The process of highway privatization in Italy and Japan," MPRA Paper 29146, University Library of Munich, Germany.
    7. Laurino, Antonio & Beria, Paolo & Grimaldi, Raffaele, 2010. "Financing transport infrastrucure projects in Italy: a critical analysis of the main approaches," MPRA Paper 29140, University Library of Munich, Germany.
    8. Fernandes, Carlos & Viegas, José M., 2005. "Portuguese Experience in Motorway Concessions with Real and Shadow Tolls," Research in Transportation Economics, Elsevier, vol. 15(1), pages 157-174, January.
    9. Bel, Germi & Fageda, Xavier, 2005. "Is a Mixed Funding Model for the Highway Network Sustainable Over Time The Spanish Case," Research in Transportation Economics, Elsevier, vol. 15(1), pages 187-203, January.
    10. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2009. "Public-Private Partnerships: when and how," Documentos de Trabajo 257, Centro de Economía Aplicada, Universidad de Chile.
    11. Greco, Andrea & Ragazzi, Giorgio, 2005. "History and Regulation of Italian Highways Concessionaires," Research in Transportation Economics, Elsevier, vol. 15(1), pages 121-133, January.
    12. José M. Vassallo, 2006. "Traffic Risk Mitigation in Highway Concession Projects: The Experience of Chile," Journal of Transport Economics and Policy, University of Bath, vol. 40(3), pages 359-381, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Laurino, Antonio & Ramella, Francesco & Beria, Paolo, 2015. "The economic regulation of railway networks: A worldwide survey," Transportation Research Part A: Policy and Practice, Elsevier, vol. 77(C), pages 202-212.
    2. Benedetto, Valerio & Smith, Andrew S.J. & Nash, Chris A., 2017. "Evaluating the roles and powers of rail regulatory bodies in Europe: A survey-based approach," Transport Policy, Elsevier, vol. 59(C), pages 116-123.
    3. Douglas Pivatto & Rodrigo Nobre Fernandez & Helton Saulo & Andre Carraro, 2017. "Estimating the Optimal Time for a Road Concession Contract in Brazil," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(12), pages 44-53, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Albalate, Daniel & Bel, Germà, 2009. "Regulating concessions of toll motorways: An empirical study on fixed vs. variable term contracts," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(2), pages 219-229, February.
    2. Montoya, Miguel A. & Trillas, Francesc, 2007. "The measurement of the independence of telecommunications regulatory agencies in Latin America and the Caribbean," Utilities Policy, Elsevier, vol. 15(3), pages 182-190, September.
    3. Brenck, Andreas & Beckers, Thorsten & Heinrich, Maria & von Hirschhausen, Christian, 2005. "Public-private partnerships in new EU member countries of Central and Eastern Europe: An economic analysis with case studies from the highway sector," EIB Papers 10/2005, European Investment Bank, Economics Department.
    4. Alberto Chong & Florencio de, 2003. "The Truth about Privatization in Latin America," Yale School of Management Working Papers ysm436, Yale School of Management.
    5. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2013. "The Basic Public Finance Of Public–Private Partnerships," Journal of the European Economic Association, European Economic Association, vol. 11(1), pages 83-111, February.
    6. Dethier, Jean-Jacques & Moore, Alexander, 2012. "Infrastructure in developing countries: An overview of some economic issues," Discussion Papers 123305, University of Bonn, Center for Development Research (ZEF).
    7. World Bank, 2007. "Chile : Investment Climate Assessment, Volume 2. Background Chapters," World Bank Publications - Reports 7716, The World Bank Group.
    8. Engel,Eduardo & Galetovic Potsch,Alexander, 2014. "Urban transport : can public-private partnerships work ?," Policy Research Working Paper Series 6873, The World Bank.
    9. Iseki, Hiroyuki & Houtman, Rebecca, 2012. "Evaluation of progress in contractual terms: Two case studies of recent DBFO PPP projects in North America," Research in Transportation Economics, Elsevier, vol. 36(1), pages 73-84.
    10. Rouhani, Omid M. & Niemeier, Debbie & Knittel, Christopher R. & Madani, Kaveh, 2013. "Integrated modeling framework for leasing urban roads: A case study of Fresno, California," Transportation Research Part B: Methodological, Elsevier, vol. 48(C), pages 17-30.
    11. World Bank, 2007. "Chile : Investment Climate Assessment, Volume 1. Executive Summary and Policy Recommendations," World Bank Publications - Reports 7695, The World Bank Group.
    12. Fielbaum, Andrés & Jara-Diaz, Sergio, 2021. "Assessment of the socio-spatial effects of urban transport investment using Google Maps API," Journal of Transport Geography, Elsevier, vol. 91(C).
    13. Winston, Clifford & Yan, Jia, 2011. "Can privatization of U.S. highways improve motorists' welfare?," Journal of Public Economics, Elsevier, vol. 95(7), pages 993-1005.
    14. Kenneth A. Small, 2009. "Private Provision of Highways: Economic Issues," Transport Reviews, Taylor & Francis Journals, vol. 30(1), pages 11-31, July.
    15. Branco, Catarina & Dohse, Dirk C. & Pereira dos Santos, João & Tavares, José, 2023. "Nobody’s gonna slow me down? The effects of a transportation cost shock on firm performance and behavior," Journal of Urban Economics, Elsevier, vol. 136(C).
    16. Athias, Laure & Saussier, Stéphane, 2018. "Are public private partnerships that rigid? And why? Evidence from price provisions in French toll road concession contracts," Transportation Research Part A: Policy and Practice, Elsevier, vol. 111(C), pages 174-186.
    17. Ales S. Berk & Dejan Podhraski, 2018. "Superiority of Monte Carlo simulation in valuing real options within public–private partnerships," Risk Management, Palgrave Macmillan, vol. 20(1), pages 1-28, February.
    18. Chandan Kumar, 2018. "Role of bidding method and risk allocation in the performance of public private partnership (PPP) projects," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2018-013, Indira Gandhi Institute of Development Research, Mumbai, India.
    19. Roger Vickerman & Emil Evenhuis, 2010. "Transport Pricing and Public-Private Partnerships," Studies in Economics 1004, School of Economics, University of Kent.
    20. David Martimort & Stephane Straub, 2006. "Privatization and Changes in Corruption Patterns: The Roots of Public Discontent," Edinburgh School of Economics Discussion Paper Series 147, Edinburgh School of Economics, University of Edinburgh.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:trapol:v:41:y:2015:i:c:p:23-32. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/30473/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.