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An Econometric Analysis of PFI Roadside Stations in Japan

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  • Ryusaku Matsuo

    (Graduate School of Economics, Kobe University)

  • Mitoshi Yamaguchi

    (Graduate School of Economics, Kobe University)

Abstract

The number of Roadside Stations in Japan is increasing rapidly. The purpose of this paper is to conduct econometric analyses of the business of PFI (private finance initiative) and other Roadside Stations. The PFI is a system in which private companies build social infrastructures using funds and know-how from the private sector, which the government then pays to use. Sales revenue is one of the most important targets for Roadside Stations. It depends on the number of customers who visited the station, number of events, parking space, management expenses, and gross business expenses. Conversely, all the latter variables also depend on sales revenue. Therefore, we used a two-stage least squares method to study the mutual influence between these variables. We found that PFI Roadside Stations had distinct economic performances. Therefore, we investigated the reason for their success. Then, we will show some policy implications.

Suggested Citation

  • Ryusaku Matsuo & Mitoshi Yamaguchi, 2020. "An Econometric Analysis of PFI Roadside Stations in Japan," Discussion Papers 2018, Graduate School of Economics, Kobe University.
    • Handle: RePEc:koe:wpaper:2018
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