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The process of highway privatization in Italy and Japan

Author

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  • Laurino, Antonio
  • Grimaldi, Raffaele

Abstract

In the last decade, the private sector has increased its role in the highways sector both through the construction and management of new assets. Private sector involvement, often justified by the need to ease public expenditure, allows a reduction in public participation for new investments. The public sector remains in charge of other important issues such as regulation, but privatization entails the transfer of a natural monopoly to another subject with completely different objectives compared with the public operator. The present work wants to analyse the highway privatization processes in Italy and Japan focusing on the two approaches and on their differences; the paper tries to evaluate the policies applied and their consequences on the general economic well – being according to a public economics viewpoint. Italy implemented a real privatization process (even if some regulatory issues have risen) while Japan still faces a strong public presence.

Suggested Citation

  • Laurino, Antonio & Grimaldi, Raffaele, 2010. "The process of highway privatization in Italy and Japan," MPRA Paper 29146, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:29146
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    File URL: https://mpra.ub.uni-muenchen.de/29146/1/MPRA_paper_29146.pdf
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    References listed on IDEAS

    as
    1. Luigi Benfratello & Alberto Iozzi & Paola Valbonesi, 2009. "Technology and incentive regulation in the Italian motorways industry," Journal of Regulatory Economics, Springer, vol. 35(2), pages 201-221, April.
    2. Fumitoshi Mizutani & Shuji Uranishi, 2006. "Privatization of the Japan Highway Public Corporation: Policy Assessment," ERSA conference papers ersa06p226, European Regional Science Association.
    3. Greco, Andrea & Ragazzi, Giorgio, 2005. "History and Regulation of Italian Highways Concessionaires," Research in Transportation Economics, Elsevier, vol. 15(1), pages 121-133, January.
    4. Daniel Albalate & Germa Bel & Xavier Fageda, 2007. "Privatization and regulation of toll motorways in europe," IREA Working Papers 200704, University of Barcelona, Research Institute of Applied Economics, revised Mar 2007.
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    Cited by:

    1. Beria, Paolo & Ramella, Francesco & Laurino, Antonio, 2015. "Motorways economic regulation: A worldwide survey," Transport Policy, Elsevier, vol. 41(C), pages 23-32.

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    More about this item

    Keywords

    privatization; highways; natural monopoly; Italy; Japan;
    All these keywords.

    JEL classification:

    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

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