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Valoraci n de los pr stamos participativos en las concesiones de infraestructuras como activos contingentes del volumen de tr fico

Author

Listed:
  • Antonio L. Lara Galera

    (Universidad Polit cnica de Madrid)

  • Antonio S nchez Soli o

    (Universidad Polit cnica de Madrid)

Abstract

Los pr stamos participativos otorgados por el sector p blico han sido muy utilizados en Espa a como f rmula de apoyo p blico a la financiaci n de concesiones de infraestructuras, especialmente en el campo de las carreteras. Sin embargo, los m todos tradicionales de valoraci n de inversiones no permiten valorar de manera precisa el alcance de este tipo de f rmulas. El objetivo de este trabajo es aportar una metodolog a basada en el an lisis de activos contingentes para cuantificar el valor que realmente aportan estas ayudas a los contratos de concesi n, o, visto de otra forma, el coste real que representan para el sector p blico.

Suggested Citation

  • Antonio L. Lara Galera & Antonio S nchez Soli o, 2015. "Valoraci n de los pr stamos participativos en las concesiones de infraestructuras como activos contingentes del volumen de tr fico," Hacienda Pública Española / Review of Public Economics, IEF, vol. 214(3), pages 35-54, September.
    • Handle: RePEc:hpe:journl:y:2015:v:214:i:3:p:35-54
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    References listed on IDEAS

    as
    1. Avinash K. Dixit & Robert S. Pindyck, 1994. "Investment under Uncertainty," Economics Books, Princeton University Press, edition 1, number 5474, December.
    2. William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, September.
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    JEL classification:

    • H81 - Public Economics - - Miscellaneous Issues - - - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

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