Workshop 7 Report: Innovative finance for innovative public transport

Corinne Mulley () and Jackie Walters

Research in Transportation Economics, 2014, vol. 48, issue C, 389-392

Abstract: Workshop 7 discussed the existence of and opportunities for innovative finance to fund innovative public transport in developed and developing economies across the globe. Innovation was seen in the use of existing mechanisms as well as in the use of new approaches to financing both the capital and operational aspects of projects. The ‘when and how’ of innovative finance and funding highlighted the need to be sensitive to the context, the nature of the actors involved, the beneficiaries and importantly, the allocation of risk between the various parties. Case studies of different experiences emphasised the critical elements of risk and scale in determining the appropriate financing mechanism and the importance of taking the institutional framework and cultural aspects into account when trying to transfer experience across borders. Policy and research recommendations centre on risk and its allocation between parties for a successful outcome, defining and implementing supportive governance regimes and building an evidence base to reduce the risk management aspects of financing innovative projects.

Keywords: Innovation in finance; Public transport; Risk allocation; Governance; Public Private Partnership (PPP) (search for similar items in EconPapers)
JEL-codes: H4 R42 R48 (search for similar items in EconPapers)
Date: 2014
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0739885914001127
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:retrec:v:48:y:2014:i:c:p:389-392

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_2&version=01

DOI: 10.1016/j.retrec.2014.09.071

Access Statistics for this article

Research in Transportation Economics is currently edited by M. Dresner

More articles in Research in Transportation Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().