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Rail Funding and Financing

Author

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  • Casullo Lorenzo

    (OECD, 2, rue André Pascal, 75016 Paris, France)

Abstract

Funding and financing arrangements for railway infrastructure in Europe are often perceived as complex and opaque. Given the large sums of public money involved, greater transparency on inputs and outputs is required. This paper aims to present an overview of rail infrastructure funding and financing in Europe based on recent evidence, and draws comparisons with the systems in the US and Japan. We also discuss a number of policy options to address the funding gap and ensure that European railways improve their financial viability and remain strong pillars of sustainable mobility in the future.

Suggested Citation

  • Casullo Lorenzo, 2017. "Rail Funding and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 125-141, June.
    • Handle: RePEc:bpj:rneart:v:16:y:2017:i:2:p:125-141:n:2
    DOI: 10.1515/rne-2017-0038
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    References listed on IDEAS

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    1. Dejan Makovšek & Marian Moszoro, 2018. "Risk pricing inefficiency in public–private partnerships," Transport Reviews, Taylor & Francis Journals, vol. 38(3), pages 298-321, May.
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    4. Jeffery J. Smith & Thomas A. Gihring, 2006. "Financing Transit Systems Through Value Capture," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(3), pages 751-786, July.
    5. Dejan Makovšek & Daniel Veryard, 2016. "The Regulatory Asset Base and Project Finance Models: An Analysis of Incentives for Efficiency," International Transport Forum Discussion Papers 2016/01, OECD Publishing.
    6. Lorenzo Casullo, 2016. "The Efficiency Impact of Open Access Competition in Rail Markets: The Case of Domestic Passenger Services in Europe," International Transport Forum Discussion Papers 2016/07, OECD Publishing.
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    Cited by:

    1. Russell Pittman & Monika Jandová & Marcin Król & Larysa Nekrasenko & Tomáš Paleta, 2019. "The Effectiveness of EC Policies to Move Freight from Road to Rail: Evidence from CEE Grain Markets," EAG Discussions Papers 201902, Department of Justice, Antitrust Division.
    2. Pittman Russell, 2017. "The Underappreciated Connection between Rail Restructuring Strategies and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 161-169, June.

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