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The highway concession system in Italy : history, regulation and politics

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  • Limodio, Nicola

Abstract

This paper contains a critical discussion of the opening of the highway concession to the private sector in Italy over the past 20 years. It describes the political context, legal mechanisms and regulatory settings; offers an analysis of the changes in the equity composition of concessionaires after the introduction of public-private partnerships, quality standards, and tariff dynamics; and provides some examples. The Italian experience reflects the typical problems of the"build-now-regulate-later"approach recognized in the highway public-private partnership literature. The Italian model is also characterized by the existence of an overly complex regulatory framework, as well as the lack of a single agent in charge of contract enforcement and independent data collection.

Suggested Citation

  • Limodio, Nicola, 2011. "The highway concession system in Italy : history, regulation and politics," Policy Research Working Paper Series 5567, The World Bank.
  • Handle: RePEc:wbk:wbrwps:5567
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    Keywords

    Transport Economics Policy&Planning; Debt Markets; Roads&Highways; Infrastructure Economics; Bankruptcy and Resolution of Financial Distress;

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