Beria, Paolo and Ponti, Marco (2008): The role of regulation in financing transport infrastructures in Italy.
Download (195kB) | Preview
The paper discusses the present regulatory framework in Italy concerning transport infrastructures financing and provides some policy indications. The Italian situation is characterised by non homogeneity among the transport modes and insufficient, or even perverse, incentives to efficiency. Also, the norms promote the tendency to overinvestment and “gold plating” because applied within a weak planning framework. After a theoretical introduction to the financing mechanisms (public funding, PPP, price cap, etc.), the paper is structured by modes. For each infrastructure type (national roads, highways, railways, ports and airports), the most common funding practices are commented, underlining their characteristics, limits and implications. National roads and railways are financed by general budget on the basis of a planning activity usually carried by the agent itself. Conversely, highways, airports and ports are partially financed by fares under conditions of legal monopoly granted by concessions. However, the formulas for fares determination are questionable and sometimes provide incentives to overinvestment. The last section will provide recommendations for a more efficient regulation.
|Item Type:||MPRA Paper|
|Original Title:||The role of regulation in financing transport infrastructures in Italy|
|Keywords:||regulation; investment; infrastructure; airports; roads; highways; railroads; price cap; ports; concession|
|Subjects:||L - Industrial Organization > L5 - Regulation and Industrial Policy > L51 - Economics of Regulation
L - Industrial Organization > L4 - Antitrust Issues and Policies > L43 - Legal Monopolies and Regulation or Deregulation
L - Industrial Organization > L9 - Industry Studies: Transportation and Utilities > L98 - Government Policy
|Depositing User:||Paolo Beria|
|Date Deposited:||17. Mar 2009 06:48|
|Last Modified:||22. May 2015 18:59|
Alderighi, M. Cento, A. Nijkamp, P. Rietveld P. (2007), Assessment of new hub-and-spoke and point-to-point airline network configurations, Transport Reviews, Vol. 27, No. 5, p 529-549.
ANAS (2006), Bilancio 2006, ANAS, Roma (Italy).
Beria P., (2008), The megaprojects’ issue. Evaluation, policies and decision making of large transport infrastructures, Ph.D. Dissertation, Politecnico University of Milan, School of Doctoral Programmes.
Boitani A. (2004), La regolazione delle autostrade italiane tra Piano Generale dei Trasporti e privatizzazioni, paper presented at the workshop “Highways”, Bergamo (Italy), November, 27 2004.
Brambilla M., Beria P., Erba S. (2004), The Italian expenditure in transport infrastructure: a survey, paper presented at the workshop “Highways”, Bergamo (Italy), November, 27 2004.
Coco G. and Ponti M. (2006), Riflessioni per una riforma della regolazione nel settore autostradale in De Vincenti C. e Vigneri A. (2006, edited by), Le virtù della concorrenza, Il Mulino, Bologna, 185-228.
FS (2007), Piano industriale 2007-2011, Ferrovie dello Stato, Roma (Italy).
Greco A. (2004), Regulation and licensee companies in the Italian Highways Network, paper presented at the workshop “Highways”, Bergamo (Italy), November, 27 2004.
Ponti M. (2005), Competition and regulation in the Public Choice perspective, in ECMT (2005), 50 Years of Transport Research. Experience gained and major challenges ahead, proceedings of 16th International Symposium on theory and practice in transport economics, ECMT, Paris (France).
Ponti M., Beria P. (2007) “La rotaia arrugginita e il vagone del futuro”, Il Mulino, No. 6, p. 1028-1041.
Ponti M., Beria P., Erba S. (2007), Una politica per i trasporti italiani, Laterza, Roma/Bari (Italy).
Ragazzi G. (2008, forthcoming), I signori delle autostrade, Il Mulino
Ragazzi G. and Rothengatter W. (2005, edited by), Procurement and Financing of Motorways in Europe, proceedings of the conference “Highways: Costs and Regulation in Europe”, Bergamo, 26/11/2004, Elsevier, Amsterdam (NL).
Sebastiani M. (2007), “La telenovela dei "requisiti di sistema"”, LaVoce.info, 08 June 2007.