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The highway concession system in Italy : history, regulation and politics, Volume 1
Author:Limodio, Nicola; Country:Italy;
Date Stored:2011/02/14Document Date:2011/02/01
Document Type:Policy Research Working PaperSubTopics:Bankruptcy and Resolution of Financial Distress; Transport Economics Policy & Planning; Debt Markets; Roads & Highways; Infrastructure Economics
Language:EnglishRegion:Europe and Central Asia
Report Number:WPS5567Collection Title:Policy Research working paper ; no. WPS 5567
Volume No:1  

Summary: This paper contains a critical discussion of the opening of the highway concession to the private sector in Italy over the past 20 years. It describes the political context, legal mechanisms and regulatory settings; offers an analysis of the changes in the equity composition of concessionaires after the introduction of public-private partnerships, quality standards, and tariff dynamics; and provides some examples. The Italian experience reflects the typical problems of the "build-now-regulate-later" approach recognized in the highway public-private partnership literature. The Italian model is also characterized by the existence of an overly complex regulatory framework, as well as the lack of a single agent in charge of contract enforcement and independent data collection. <BR>

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