Governments around the world are showing increasing interest in concessions or build-operate-transfer mechanisms in the highway sector. One or two decades ago, economic theory held that private funding was the most promising method for financing infrastructure development. Unfortunately, a significant number of privately financed projects are showing signs of difficulties (e.g., the Franco-British Channel Tunnel, the Dulles Greenway in Virginia, the second stage Bangkok Expressway in Thailand, the Guanzhour-Shenzen Highway in China, the delayed Birmingham Northern Relief Road in the United Kingdom, and the M1 and M3 Highways in Hungary). Emphasis has always been put on the financial aspect, leaving out the organizational one. A new basis for infrastructure finance is presented, analyzing the mistakes and successes of French experience in highway concession for more than 40 years. This experience is of interest since France has experimented with both toll and nontoll financing as well as with publicly and privately owned toll roads in building its system of highways. The main steps of the construction of the French highway network through concessions are traced and the lessons learned from this experience indicated, focusing on key elements, the advantages and drawbacks of a concession system, and the exact nature of the state’s role in concessioning. This information can serve as potential recommendations for other countries opting for concession systems.
accès PDF payant http://www.springerlink.com/content/hx059484327r8461/International audienceMotorways are one of the largest capital stocks of transportation infrastructure. It is therefore important to try to optimize their provision and management. This paper contributes to this goal by analysing France's historical long term experience through the prism of economic theory, and by offering suggestions and perspectives for the future. The first section presents a short history of motorway provision in France. It shows how the general framework evolved from isolated links to an integrated network. It discusses how concerns have changed with the growing importance of external factors; these changes are analysed in terms of economic characteristics, namely the relative importance of uncertainty, externalities and network effects. Finally, it assesses how the political decisions have had a major influence, mainly through the privatisation process and through changes in regulations. The second section uses these characteristics to make suggestions and recommendations on how to provide motorways. The main issues considered are the scope of a concession, and the architecture of the contract regarding toll regulation and incentives. Hints about possible future evolutions are presented too, concerning the choice between concession and public provision of motorways, and concerning the separation between infrastructure provision and management. The third section concludes by suggesting some research tracks that may help improving international knowledge through comparison between countries
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