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Motorways economic regulation: A worldwide survey

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  • Beria, Paolo
  • Ramella, Francesco
  • Laurino, Antonio

Abstract

During the last few decades, the motorways sector greatly expanded around the world. Today it represents an essential infrastructure asset of a country. In the majority of cases the network was initially built and maintained with public funds through direct state provision. In the early 1990s many developed and emerging countries moved towards private involvement in toll roads provision, increasing the need for sound economic regulation. However, no comprehensive analysis of the existing regulatory and institutional frameworks has been carried out so far. Starting from a survey involving 21 countries, the paper tries to fill in this gap through a review of existing motorway regulatory frameworks. Various aspects of regulation have been collected and analysed in order to provide an overview of the current practices, both in quantitative and qualitative terms evidencing the strengths and the weaknesses among the various models.

Suggested Citation

  • Beria, Paolo & Ramella, Francesco & Laurino, Antonio, 2015. "Motorways economic regulation: A worldwide survey," Transport Policy, Elsevier, vol. 41(C), pages 23-32.
  • Handle: RePEc:eee:trapol:v:41:y:2015:i:c:p:23-32
    DOI: 10.1016/j.tranpol.2015.03.010
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    References listed on IDEAS

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    1. Fernandes, Carlos & Viegas, José M., 2005. "Portuguese Experience in Motorway Concessions with Real and Shadow Tolls," Research in Transportation Economics, Elsevier, vol. 15(1), pages 157-174, January.
    2. Bel, Germi & Fageda, Xavier, 2005. "Is a Mixed Funding Model for the Highway Network Sustainable Over Time The Spanish Case," Research in Transportation Economics, Elsevier, vol. 15(1), pages 187-203, January.
    3. Eduardo Engel & Ronald Fischer & Alexander Galetovic, 2009. "Public-Private Partnerships: when and how," Documentos de Trabajo 257, Centro de Economía Aplicada, Universidad de Chile.
    4. Greco, Andrea & Ragazzi, Giorgio, 2005. "History and Regulation of Italian Highways Concessionaires," Research in Transportation Economics, Elsevier, vol. 15(1), pages 121-133, January.
    5. Eduardo M.R.A. Engel & Ronald Fischer & Alexander Galetovic, 2003. "Privatizing Highways in Latin America: Is It Possible to Fix What Went Wrong?," Working Papers 866, Economic Growth Center, Yale University.
    6. Germà Bel & John Foote, 2007. "Comparison of Recent Toll Road Concession Transactions in the United States and France," Working Papers XREAP2007-11, Xarxa de Referència en Economia Aplicada (XREAP), revised Nov 2007.
    7. Laurino, Antonio & Grimaldi, Raffaele, 2010. "The process of highway privatization in Italy and Japan," MPRA Paper 29146, University Library of Munich, Germany.
    8. José M. Vassallo, 2006. "Traffic Risk Mitigation in Highway Concession Projects: The Experience of Chile," Journal of Transport Economics and Policy, University of Bath, vol. 40(3), pages 359-381, September.
    9. Laurino, Antonio & Beria, Paolo & Grimaldi, Raffaele, 2010. "Financing transport infrastrucure projects in Italy: a critical analysis of the main approaches," MPRA Paper 29140, University Library of Munich, Germany.
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