The article analyses the cost of using private finance to build, finance and maintain toll roads in Spain. Spain is the primary exponent of private finance for roads in Europe, where the case rested on the lack of public finance, in contrast to the UK that has stressed value for money. The evidence shows that more than half of the toll charge represents the cost of finance; the cost of private finance is nearly double the cost of public finance; and financing is underpinned by various forms of public support creating risks for the taxpayers.
机构:
Univ Putra Malaysia, Fac Econ & Management, Serdang 43400, Selangor, MalaysiaUniv Putra Malaysia, Fac Econ & Management, Serdang 43400, Selangor, Malaysia
Hassan, Mazlan
Ibrahim, Abdul Razak
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机构:
King Saud Univ, Coll Business Adm, Riyadh 11451, Saudi ArabiaUniv Putra Malaysia, Fac Econ & Management, Serdang 43400, Selangor, Malaysia
Ibrahim, Abdul Razak
PERTANIKA JOURNAL OF SOCIAL SCIENCE AND HUMANITIES,
2013,
21
: 133
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147