The highway concession system in Italy : history, regulation and politics
AbstractThis paper contains a critical discussion of the opening of the highway concession to the private sector in Italy over the past 20 years. It describes the political context, legal mechanisms and regulatory settings; offers an analysis of the changes in the equity composition of concessionaires after the introduction of public-private partnerships, quality standards, and tariff dynamics; and provides some examples. The Italian experience reflects the typical problems of the"build-now-regulate-later"approach recognized in the highway public-private partnership literature. The Italian model is also characterized by the existence of an overly complex regulatory framework, as well as the lack of a single agent in charge of contract enforcement and independent data collection.
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Bibliographic InfoPaper provided by The World Bank in its series Policy Research Working Paper Series with number 5567.
Date of creation: 01 Feb 2011
Date of revision:
Transport Economics Policy&Planning; Debt Markets; Roads&Highways; Infrastructure Economics; Bankruptcy and Resolution of Financial Distress;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-02-26 (All new papers)
- NEP-HIS-2011-02-26 (Business, Economic & Financial History)
- NEP-REG-2011-02-26 (Regulation)
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