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Economic Contribution of the Private Sector on Financing and Operation of a Highway: Financial Computable General Equilibrium

Euijune Kim and Yujin Bae

Journal of Transport Economics and Policy, 2015, vol. 49, issue 3, 397-414

Abstract: This paper analyses the impact of highway financing and operation on economic growth using the FCGE model, developed for an investment analysis with the base year of 2007. There are two alternatives for financing and operating a highway: government financing with tax revenues and operation; and private financing with bond issuance and private operation. Applying to Korea's south-east highway, this paper argues that private financing and operation would have had a more positive impact on Korea's GDP only if relative efficiency of the private sector in facility operation had been higher than that of the government sector by at least 7 per cent. © 2015 LSE and the University of Bath

Date: 2015
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