New Instruments for Financing Transport Infrastructures in Italy

Carlo Vaghi and Alberto Milotti

Economia dei Servizi, 2009, issue 3, 377-398

Abstract: The Italian Government budget constraints and the need of modern transport infrastructures have given rise to innovative financing instruments to collect resources for investments. The aim of the paper is to survey and to verify the effectiveness of three of the most interesting and recent methods for this purpose: the "take over compensation" method, which applied to infrastructure built after project financing or concession bids; the "value capture" method, which gives the opportunity to assess part of transport infrastructures' benefits by capturing the increase in property value experienced after the opening of the new infrastructure; and the so-called "Eurovignette" Directive method. After a brief critical review of literature, the paper investigates the application of those methods to the Italian scenario, referring to four specific cases: the Bre.be.mi (Milano-Brescia) motorway, the Pedemontana motorway, the Quadrilatero road project, and the Brenner rail base tunnel.

Keywords: transport; funding; take over compensation; land value capture; Eurovignette directive (search for similar items in EconPapers)
Date: 2009
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