EconPapers    
Economics at your fingertips  
 

Socioeconomic impacts of transportation public-private partnerships: A dynamic CGE assessment

Zhenhua Chen, Nobuhiko Daito and Jonathan L. Gifford

Transport Policy, 2017, vol. 58, issue C, 80-87

Abstract: While value-for-money and benefit-cost analyses represent traditional approaches for public-private partnership (P3) evaluation, these methods primarily focus on direct, project-level impacts. Indirect regional economic and/or social welfare impacts are generally ignored. This study fills the gap by investigating transportation infrastructure P3's socioeconomic impacts using a dynamic computable general equilibrium (CGE) model. Using the U.S. Commonwealth of Virginia's I-495 Express Lanes project as an example, the model measures infrastructure capital expenditure and tax shock effects and compares them with two public sector comparators (PSCs) representing lower- and upper-bound scenarios. The model also captures the impacts of capital accumulation and temporal variations during the 2008–2012 construction period. The simulation results show that by alleviating the regional economy's collected tax burden, P3s generate greater positive gross economic output and welfare impacts than traditional public financing models.

Keywords: Socioeconomic impacts; Public-private partnerships; Transportation; I-495 Express Lanes; Computable General Equilibrium (CGE) Model (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0967070X16303134
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:trapol:v:58:y:2017:i:c:p:80-87

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/supportfaq.cws_home/regional
https://shop.elsevie ... _01_ooc_1&version=01

DOI: 10.1016/j.tranpol.2017.05.002

Access Statistics for this article

Transport Policy is currently edited by Y. Hayashi

More articles in Transport Policy from Elsevier
Bibliographic data for series maintained by Haili He ().

 
Page updated 2020-05-02
Handle: RePEc:eee:trapol:v:58:y:2017:i:c:p:80-87