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Taking its toll: The private financing of roads in Spain

Author

Listed:
  • Basilio Acerete
  • Jean Shaoul
  • Anne Stafford

Abstract

The article analyses the cost of using private finance to build, finance and maintain toll roads in Spain. Spain is the primary exponent of private finance for roads in Europe, where the case rested on the lack of public finance, in contrast to the UK that has stressed value for money. The evidence shows that more than half of the toll charge represents the cost of finance; the cost of private finance is nearly double the cost of public finance; and financing is underpinned by various forms of public support creating risks for the taxpayers.

Suggested Citation

  • Basilio Acerete & Jean Shaoul & Anne Stafford, 2009. "Taking its toll: The private financing of roads in Spain," Public Money & Management, Taylor & Francis Journals, vol. 29(1), pages 19-26, January.
    • Handle: RePEc:taf:pubmmg:v:29:y:2009:i:1:p:19-26
    DOI: 10.1080/09540960802617327
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    References listed on IDEAS

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    1. Gisele F. Silva, 2000. "Toll Roads : Recent Trends in Private Participation," World Bank Publications - Reports 11408, The World Bank Group.
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    Cited by:

    1. Jean Shaoul, 2010. "A Review of Transport Public–Private Partnerships in the UK," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 24, Edward Elgar Publishing.
    2. Sounman Hong, 2016. "When does a public–private partnership (PPP) lead to inefficient cost management? Evidence from South Korea’s urban rail system," Public Money & Management, Taylor & Francis Journals, vol. 36(6), pages 447-454, September.
    3. Samuel Carpintero & Ole Helby Petersen, 2014. "PPP projects in transport: evidence from light rail projects in Spain," Public Money & Management, Taylor & Francis Journals, vol. 34(1), pages 43-50, January.
    4. Alejandro Ortega & Maria de los Angeles Baeza & Jose Manuel Vassallo, 2016. "Contractual PPPs for Transport Infrastructure in Spain: Lessons from the Economic Recession," Transport Reviews, Taylor & Francis Journals, vol. 36(2), pages 187-206, March.
    5. Matti Siemiatycki, 2013. "Public–private partnerships in mega-projects: successes and tensions," Chapters, in: Hugo Priemus & Bert van Wee (ed.), International Handbook on Mega-Projects, chapter 7, pages 133-157, Edward Elgar Publishing.
    6. Matteo Stiglich, 2021. "Unplanning urban transport: Unsolicited urban highways in Lima," Environment and Planning A, , vol. 53(6), pages 1490-1506, September.
    7. Dónal Palcic & Eoin Reeves & Anne Stafford, 2018. "Lifting the Lid: the Private Financing of Motorway PPPs in Ireland," The Economic and Social Review, Economic and Social Studies, vol. 49(2), pages 217-239.
    8. Burke, Richard & Demirag, Istemi, 2015. "Changing perceptions on PPP games: Demand risk in Irish roads," CRITICAL PERSPECTIVES ON ACCOUNTING, Elsevier, vol. 27(C), pages 189-208.
    9. Jean Shaoul & Anne Stafford & Pam Stapleton, 2010. "Financial black holes," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 23(2), pages 229-255, February.
    10. Anthony E. Boardman & Aidan R. Vining, 2010. "Assessing the Economic Worth of Public–Private Partnerships," Chapters, in: Graeme A. Hodge & Carsten Greve & Anthony E. Boardman (ed.), International Handbook on Public–Private Partnerships, chapter 8, Edward Elgar Publishing.

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