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

Nicola Limodio

No 5567, Policy Research Working Paper Series from The World Bank

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.

Keywords: Transport Economics Policy&Planning; Debt Markets; Roads&Highways; Infrastructure Economics; Bankruptcy and Resolution of Financial Distress (search for similar items in EconPapers)
Date: 2011-02-01
New Economics Papers: this item is included in nep-his and nep-reg
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