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Rail Funding and Financing

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  • Casullo Lorenzo

    (OECD, 2, rue André Pascal, 75016 Paris, France)

Abstract

Funding and financing arrangements for railway infrastructure in Europe are often perceived as complex and opaque. Given the large sums of public money involved, greater transparency on inputs and outputs is required. This paper aims to present an overview of rail infrastructure funding and financing in Europe based on recent evidence, and draws comparisons with the systems in the US and Japan. We also discuss a number of policy options to address the funding gap and ensure that European railways improve their financial viability and remain strong pillars of sustainable mobility in the future.

Suggested Citation

  • Casullo Lorenzo, 2017. "Rail Funding and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 125-141, June.
    • Handle: RePEc:bpj:rneart:v:16:y:2017:i:2:p:125-141:n:2
    DOI: 10.1515/rne-2017-0038
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    References listed on IDEAS

    as
    1. Louis S. Thompson & Heiner Bente, 2014. "What is Rail Efficiency and How Can it Be Changed?," International Transport Forum Discussion Papers 2014/23, OECD Publishing.
    2. Lorenzo Casullo, 2016. "The Efficiency Impact of Open Access Competition in Rail Markets: The Case of Domestic Passenger Services in Europe," International Transport Forum Discussion Papers 2016/07, OECD Publishing.
    3. Dejan Makovšek & Marian Moszoro, 2018. "Risk pricing inefficiency in public–private partnerships," Transport Reviews, Taylor & Francis Journals, vol. 38(3), pages 298-321, May.
    4. Dejan Makovšek & Daniel Veryard, 2016. "The Regulatory Asset Base and Project Finance Models: An Analysis of Incentives for Efficiency," International Transport Forum Discussion Papers 2016/01, OECD Publishing.
    5. Benedetto, Valerio & Smith, Andrew S.J. & Nash, Chris A., 2017. "Evaluating the roles and powers of rail regulatory bodies in Europe: A survey-based approach," Transport Policy, Elsevier, vol. 59(C), pages 116-123.
    6. Jeffery J. Smith & Thomas A. Gihring, 2006. "Financing Transit Systems Through Value Capture," American Journal of Economics and Sociology, Wiley Blackwell, vol. 65(3), pages 751-786, July.
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    Cited by:

    1. Pittman, Russell & Jandova, Monika & Krol, Marcin & Nekrasenko, Larysa & Paleta, Tomas, 2019. "The Effectiveness of EC Policies to Move Freight from Road to Rail: Evidence from CEE Grain Markets," MPRA Paper 97571, University Library of Munich, Germany.
    2. Pittman Russell, 2017. "The Underappreciated Connection between Rail Restructuring Strategies and Financing," Review of Network Economics, De Gruyter, vol. 16(2), pages 161-169, June.

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