The Long and Winding Path to Private Financing and Regulation of Toll Roads
Road transport has long been the dominant form of transport for freight and passenger movement throughout the world. Because most road projects require investments with long amortization periods and because many projects do not generate enough demand to become self-financing through some type of use...
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| Format: | Publications & Research |
| Language: | en_US |
| Published: |
World Bank, Washington, DC
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10986/21408 |
| id |
okr-10986-21408 |
|---|---|
| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
en_US |
| topic |
access roads accident accident rates airports arterial roads Asian Toll Road Development Asian Toll Road Development Program average daily traffic black market in toll receipts Bridge bridges bus commercialization concession process concession program concessionaire concessionaires congestion congestion relievers Construction Construction construction company construction work corridor daily traffic debt decline in private toll roads development roads district roads domestic passenger economic growth experience with toll roads export expressways feeder network Financing of Roads flooding freeways freight freight movements gasoline tax heavy traffic heavy traffic demand high traffic highway highway safety highways income interchanges interest costs kilometers of toll roads land acquisition lighting columns local authorities macroeconomic conditions maintenance motor vehicles motorways municipalities National Expressway Network national governments national road network national roads new toll road number of lanes number of vehicles operation and maintenance options for toll roads parallel roads passenger passenger car unit passenger movement pavement paving pcu peak periods Piers private operators private participation private roads private sector private sector concessions private sector participation private toll financing private toll roads provision of toll roads public involvement public sector public toll financing public toll roads public works railways range remote revenue stream risk management road accidents road capacity road concessions road construction road design Road Financing road improvements road infrastructure road investment road investments road maintenance road network road networks road sector Road System road systems road traffic Road transport road users route routes safety safety regulation signs speed structures toll collection toll evasion Toll financing toll free toll revenue toll revenue pooling toll revenue pooling system toll revenues toll road toll road concession toll road development toll road program toll road projects toll road system toll roads toll systems tolling tolls traffic traffic forecast traffic forecasts traffic growth traffic levels traffic predictions traffic volume traffic volumes transfer concessions transition economies transportation travel time trips trucking trucks tunnels urban expressways urban roads urban routes urbanization vehicle operating costs vehicles toll roads & highways private financing government regulation cost effectiveness service delivery financial forecast payment of charges risk management political risk analysis regulatory structure dispute resolution market competition performance indicators information requirements |
| spellingShingle |
access roads accident accident rates airports arterial roads Asian Toll Road Development Asian Toll Road Development Program average daily traffic black market in toll receipts Bridge bridges bus commercialization concession process concession program concessionaire concessionaires congestion congestion relievers Construction Construction construction company construction work corridor daily traffic debt decline in private toll roads development roads district roads domestic passenger economic growth experience with toll roads export expressways feeder network Financing of Roads flooding freeways freight freight movements gasoline tax heavy traffic heavy traffic demand high traffic highway highway safety highways income interchanges interest costs kilometers of toll roads land acquisition lighting columns local authorities macroeconomic conditions maintenance motor vehicles motorways municipalities National Expressway Network national governments national road network national roads new toll road number of lanes number of vehicles operation and maintenance options for toll roads parallel roads passenger passenger car unit passenger movement pavement paving pcu peak periods Piers private operators private participation private roads private sector private sector concessions private sector participation private toll financing private toll roads provision of toll roads public involvement public sector public toll financing public toll roads public works railways range remote revenue stream risk management road accidents road capacity road concessions road construction road design Road Financing road improvements road infrastructure road investment road investments road maintenance road network road networks road sector Road System road systems road traffic Road transport road users route routes safety safety regulation signs speed structures toll collection toll evasion Toll financing toll free toll revenue toll revenue pooling toll revenue pooling system toll revenues toll road toll road concession toll road development toll road program toll road projects toll road system toll roads toll systems tolling tolls traffic traffic forecast traffic forecasts traffic growth traffic levels traffic predictions traffic volume traffic volumes transfer concessions transition economies transportation travel time trips trucking trucks tunnels urban expressways urban roads urban routes urbanization vehicle operating costs vehicles toll roads & highways private financing government regulation cost effectiveness service delivery financial forecast payment of charges risk management political risk analysis regulatory structure dispute resolution market competition performance indicators information requirements Estache, Antonio Romero, Manuel Strong, John The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| geographic_facet |
Latin America & Caribbean Africa South Asia ARGENTINA Chile Peru |
| relation |
Policy Research Working Paper;No. 2387 |
| description |
Road transport has long been the dominant form of transport for freight and passenger movement throughout the world. Because most road projects require investments with long amortization periods and because many projects do not generate enough demand to become self-financing through some type of user fee or toll, the road sector remains in the hands of the public sector to a much greater extent than other transport activities. But governments throughout the world, including those of many poor African and South Asian countries, are commercializing their operations to cut costs, improve user orientation, and increase sector-specific revenue. There seems to be demand for toll roads in specific settings, but the problems met by many of this "first generation" of road concessions-from Mexico to Thailand-have given toll projects a bad reputation. Many mistakes were made, and tolling is obviously not the best solution for every road. Most of the alternatives aim at improving efficiency (lowering costs). But there are many ways of getting the private sector involved in toll roads, thus reducing public sector financing requirements for the sector. Understanding the context in which toll roads are viable is essential both for their initial success and for effective long-run regulation. The authors provide a broad overview of issues at stake from the viewpoint of both privatization teams and regulators responsible for supervising contractual commitments of private operators and the government, to each other and to users. |
| format |
Publications & Research |
| author |
Estache, Antonio Romero, Manuel Strong, John |
| author_facet |
Estache, Antonio Romero, Manuel Strong, John |
| author_sort |
Estache, Antonio |
| title |
The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| title_short |
The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| title_full |
The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| title_fullStr |
The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| title_full_unstemmed |
The Long and Winding Path to Private Financing and Regulation of Toll Roads |
| title_sort |
long and winding path to private financing and regulation of toll roads |
| publisher |
World Bank, Washington, DC |
| publishDate |
2015 |
| url |
http://hdl.handle.net/10986/21408 |
| _version_ |
1764448176987701248 |
| spelling |
okr-10986-214082021-04-23T14:04:02Z The Long and Winding Path to Private Financing and Regulation of Toll Roads Estache, Antonio Romero, Manuel Strong, John access roads accident accident rates airports arterial roads Asian Toll Road Development Asian Toll Road Development Program average daily traffic black market in toll receipts Bridge bridges bus commercialization concession process concession program concessionaire concessionaires congestion congestion relievers Construction Construction construction company construction work corridor daily traffic debt decline in private toll roads development roads district roads domestic passenger economic growth experience with toll roads export expressways feeder network Financing of Roads flooding freeways freight freight movements gasoline tax heavy traffic heavy traffic demand high traffic highway highway safety highways income interchanges interest costs kilometers of toll roads land acquisition lighting columns local authorities macroeconomic conditions maintenance motor vehicles motorways municipalities National Expressway Network national governments national road network national roads new toll road number of lanes number of vehicles operation and maintenance options for toll roads parallel roads passenger passenger car unit passenger movement pavement paving pcu peak periods Piers private operators private participation private roads private sector private sector concessions private sector participation private toll financing private toll roads provision of toll roads public involvement public sector public toll financing public toll roads public works railways range remote revenue stream risk management road accidents road capacity road concessions road construction road design Road Financing road improvements road infrastructure road investment road investments road maintenance road network road networks road sector Road System road systems road traffic Road transport road users route routes safety safety regulation signs speed structures toll collection toll evasion Toll financing toll free toll revenue toll revenue pooling toll revenue pooling system toll revenues toll road toll road concession toll road development toll road program toll road projects toll road system toll roads toll systems tolling tolls traffic traffic forecast traffic forecasts traffic growth traffic levels traffic predictions traffic volume traffic volumes transfer concessions transition economies transportation travel time trips trucking trucks tunnels urban expressways urban roads urban routes urbanization vehicle operating costs vehicles toll roads & highways private financing government regulation cost effectiveness service delivery financial forecast payment of charges risk management political risk analysis regulatory structure dispute resolution market competition performance indicators information requirements Road transport has long been the dominant form of transport for freight and passenger movement throughout the world. Because most road projects require investments with long amortization periods and because many projects do not generate enough demand to become self-financing through some type of user fee or toll, the road sector remains in the hands of the public sector to a much greater extent than other transport activities. But governments throughout the world, including those of many poor African and South Asian countries, are commercializing their operations to cut costs, improve user orientation, and increase sector-specific revenue. There seems to be demand for toll roads in specific settings, but the problems met by many of this "first generation" of road concessions-from Mexico to Thailand-have given toll projects a bad reputation. Many mistakes were made, and tolling is obviously not the best solution for every road. Most of the alternatives aim at improving efficiency (lowering costs). But there are many ways of getting the private sector involved in toll roads, thus reducing public sector financing requirements for the sector. Understanding the context in which toll roads are viable is essential both for their initial success and for effective long-run regulation. The authors provide a broad overview of issues at stake from the viewpoint of both privatization teams and regulators responsible for supervising contractual commitments of private operators and the government, to each other and to users. 2015-02-05T20:16:16Z 2015-02-05T20:16:16Z 2000-06 http://hdl.handle.net/10986/21408 en_US Policy Research Working Paper;No. 2387 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank, Washington, DC Publications & Research Publications & Research :: Policy Research Working Paper Latin America & Caribbean Africa South Asia ARGENTINA Chile Peru |