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Valoración de los préstamos participativos en las concesiones de infraestructuras como activos contingentes del volumen de tráfico

Author

Listed:
  • Antonio L. Lara Galera

    (Universidad Politécnica de Madrid)

  • Antonio Sánchez Soliño

    (Universidad Politécnica de Madrid)

Abstract

Los préstamos participativos otorgados por el sector público han sido muy utilizados en España como fórmula de apoyo público a la financiación de concesiones de infraestructuras, especialmente en el campo de las carreteras. Sin embargo, los métodos tradicionales de valoración de inversiones no permiten valorar de manera precisa el alcance de este tipo de fórmulas. El objetivo de este trabajo es aportar una metodología basada en el análisis de activos contingentes para cuantificar el valor que realmente aportan estas ayudas a los contratos de concesión, o, visto de otra forma, el coste real que representan para el sector público.

Suggested Citation

  • Antonio L. Lara Galera & Antonio Sánchez Soliño, 2015. "Valoración de los préstamos participativos en las concesiones de infraestructuras como activos contingentes del volumen de tráfico," Hacienda Pública Española / Review of Public Economics, IEF, vol. 214(3), pages 35-54, September.
    • Handle: RePEc:hpe:journl:y:2015:v:214:i:3:p:35-54
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    References listed on IDEAS

    as
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    2. William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, September.
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    More about this item

    Keywords

    Activo contingente; préstamo participativo; concesión; infraestructura;
    All these keywords.

    JEL classification:

    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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