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The privatisation and nationalisation of European roads : success and failure in public-private partnerships
This distinctive and timely book examines the current state and trends in the ownership, management and financing of European high capacity roads. Offering an analysis of three pioneer countries in road privatization, Spain, France and Italy, from their origins to their recent developments, it evaluates how the design of privatisation policies may lead to their success or failure. Describing the trend in favouring public-private collaboration and road charging, Professor Daniel Albalate presents the theoretical framework of road privatisation and its relevant design issues. Exhaustively studying the national experiences in historical perspective, he aims at providing lessons on the good, the bad and the ugly of road privatisation. As a result, this excellent study shows the increasing role of private financing and ownership in Europe, a trend mainly explained by fiscal motivations and the thrust of the European Commission. Presenting an evaluation of the critical elements of the contractual and regulatory design of the public-private collaboration that determines the likelihood of success and failure, this unique book will be of special interest to academics, graduate students and policy makers interested in the public provision and financing of road infrastructure, and public finance more generally. --Publisher description.
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