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Economic Contribution of the Private Sector on Financing and Operation of a Highway: Financial Computable General Equilibrium

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  • Euijune Kim
  • Yujin Bae

Abstract

This paper analyses the impact of highway financing and operation on economic growth using the FCGE model, developed for an investment analysis with the base year of 2007. There are two alternatives for financing and operating a highway: government financing with tax revenues and operation; and private financing with bond issuance and private operation. Applying to Korea's south-east highway, this paper argues that private financing and operation would have had a more positive impact on Korea's GDP only if relative efficiency of the private sector in facility operation had been higher than that of the government sector by at least 7 per cent. © 2015 LSE and the University of Bath

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  • Euijune Kim & Yujin Bae, 2015. "Economic Contribution of the Private Sector on Financing and Operation of a Highway: Financial Computable General Equilibrium," Journal of Transport Economics and Policy, University of Bath, vol. 49(3), pages 397-414, July.
    • Handle: RePEc:tpe:jtecpo:v:49:y:2015:i:3:p:397-414
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    Cited by:

    1. Yi, Yoojin & Kim, Euijune, 2018. "Spatial economic impact of road and railroad accessibility on manufacturing output: Inter-modal relationship between road and railroad," Journal of Transport Geography, Elsevier, vol. 66(C), pages 144-153.
    2. Kim, Euijune & Hewings, Geoffrey J.D. & Amir, Hidayat, 2017. "Economic evaluation of transportation projects: An application of Financial Computable General Equilibrium model," Research in Transportation Economics, Elsevier, vol. 61(C), pages 44-55.
    3. Piskin, Metin & Hewings, Geoffrey J.D. & Hannum, Christopher M., 2020. "Synergy effects of highway investments on the Turkish economy: An application of an integrated transport network with a multiregional CGE model," Transport Policy, Elsevier, vol. 95(C), pages 78-92.
    4. Euijune Kim & Seung-Woon Moon & Shigemi Kagawa, 2019. "Spatial economic linkages of economic growth and air pollution: developing an air pollution-multinational CGE model of China, Japan, and Korea," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 63(2), pages 255-268, October.

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