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The role of regulation in financing transport infrastructures in Italy

Author

Listed:
  • Beria, Paolo
  • Ponti, Marco

Abstract

The paper discusses the present regulatory framework in Italy concerning transport infrastructures financing and provides some policy indications. The Italian situation is characterised by non homogeneity among the transport modes and insufficient, or even perverse, incentives to efficiency. Also, the norms promote the tendency to overinvestment and “gold plating” because applied within a weak planning framework. After a theoretical introduction to the financing mechanisms (public funding, PPP, price cap, etc.), the paper is structured by modes. For each infrastructure type (national roads, highways, railways, ports and airports), the most common funding practices are commented, underlining their characteristics, limits and implications. National roads and railways are financed by general budget on the basis of a planning activity usually carried by the agent itself. Conversely, highways, airports and ports are partially financed by fares under conditions of legal monopoly granted by concessions. However, the formulas for fares determination are questionable and sometimes provide incentives to overinvestment. The last section will provide recommendations for a more efficient regulation.

Suggested Citation

  • Beria, Paolo & Ponti, Marco, 2008. "The role of regulation in financing transport infrastructures in Italy," MPRA Paper 14108, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:14108
    as

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    File URL: https://mpra.ub.uni-muenchen.de/14108/1/MPRA_paper_14108.pdf
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    References listed on IDEAS

    as
    1. Marco Alderighi & Alessandro Cento & Peter Nijkamp & Piet Rietveld, 2007. "Assessment of New Hub‐and‐Spoke and Point‐to‐Point Airline Network Configurations," Transport Reviews, Taylor & Francis Journals, vol. 27(5), pages 529-549, February.
    2. Beria, Paolo & Brambilla, Marco & Erba, Stefano, 2004. "The Italian expenditure in transport infrastructure: a survey," MPRA Paper 14105, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    regulation; investment; infrastructure; airports; roads; highways; railroads; price cap; ports; concession;
    All these keywords.

    JEL classification:

    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation
    • L98 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Government Policy

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