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New Instruments for Financing Transport Infrastructures in Italy

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  • Carlo Vaghi
  • Alberto Milotti

Abstract

The Italian Government budget constraints and the need of modern transport infrastructures have given rise to innovative financing instruments to collect resources for investments. The aim of the paper is to survey and to verify the effectiveness of three of the most interesting and recent methods for this purpose: the "take over compensation" method, which applied to infrastructure built after project financing or concession bids; the "value capture" method, which gives the opportunity to assess part of transport infrastructures' benefits by capturing the increase in property value experienced after the opening of the new infrastructure; and the so-called "Eurovignette" Directive method. After a brief critical review of literature, the paper investigates the application of those methods to the Italian scenario, referring to four specific cases: the Bre.be.mi (Milano-Brescia) motorway, the Pedemontana motorway, the Quadrilatero road project, and the Brenner rail base tunnel.

Suggested Citation

  • Carlo Vaghi & Alberto Milotti, 2009. "New Instruments for Financing Transport Infrastructures in Italy," Economia dei Servizi, Società editrice il Mulino, issue 3, pages 377-398.
  • Handle: RePEc:mul:j1t56u:doi:10.2382/31039:y:2009:i:3:p:377-398
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    Cited by:

    1. Piero Casadio & Marco Paccagnella, 2012. "Criticalities in the Funding, Planning and Selection of Infrastructure Projects in Italy," QA - Rivista dell'Associazione Rossi-Doria, Associazione Rossi Doria, issue 1, March.

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