Evaluation of the safety performance of PPPs versus publicly funded and managed motorways in Spain

Daniel Albalate, Germà Bel and Paula Bel-Piñana

Chapter 8 in Assessing the Performance Advantage of Public-Private Partnerships, 2022, pp 184-205 from Edward Elgar Publishing

Abstract: The development of the motorway network in Spain has generated an unusual mixed model of funding and management. We take advantage of the variability of this model to evaluate the contribution of Public-Private Partnerships (PPPs) to road safety. We do this by comparing Build-Operate-Transfer (BOT) concession-type PPPs, Operation and Management PPPs, and traditional publicly-funded motorways. We built a dataset for the 50 Spanish provinces for the period 2003-2019, which we analyze using panel data econometric methods. Our results suggest that both types of PPP motorways deliver better road safety outcomes than publicly managed motorways regarding accident rates. However, we do not find a statistically significant difference between the two PPP models. When we analyze the severity of accidents, our results indicate that only tolled PPP models perform better than publicly managed and funded motorways. However, there are no differences between publicly funded non-tolled motorways managed by the government or managed by a PPP.

Keywords: Economics and Finance; Politics and Public Policy (search for similar items in EconPapers)
Date: 2022
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