PPPS in the rail sector – a review of 27 projects
PPPs in the rail sector have become increasingly common in the last two decades. They have been praised and criticized for a variety of reasons. This paper provides a comprehensive study of all rail PPPs to date, in order to observe long term trends and to quantify the potential of failure or succes...
محفوظ في:
| الحاوية / القاعدة: | URI:https://journals.openedition.org/rhcf, |
|---|---|
| المؤلف الرئيسي: | |
| التنسيق: | Article ou chapitre numérique |
| اللغة: | Anglais |
| منشور في: |
Revue d’histoire des chemins de fer
2022
|
| الموضوعات: | |
| الوصول للمادة أونلاين: | Accès Université d'Orléans et IFPM Accès Université d'Orléans et IFPM |
| الملخص: | PPPs in the rail sector have become increasingly common in the last two decades. They have been praised and criticized for a variety of reasons. This paper provides a comprehensive study of all rail PPPs to date, in order to observe long term trends and to quantify the potential of failure or success of such PPPs. Our key finding is that optimization of risk management explains two major trends: (i) projects are moving from integrated, stand-alone systems toward sub-systems with complex interfaces with other networks or sub-systems, (ii) moral hazard, incomplete contracts and strategic behaviors create an incentive for concessionaires to make over-optimistic ridership forecasts and explain why most traffic-based concessions failed. |
|---|