Going Private: The International Experience with Transport Privatization

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Brookings Institution Press, 1 oct. 2011 - 324 pages
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In the last decade many countries turned to private sources to provide services formerly offered by public agencies. Europeans, particularly the British and the French, were leaders in this movement. Developing countries also experimented extensively with privatization in the 1980s, with varying degrees of success. Because governments around the world are heavily involved in transportation, it is a natural focus of privatization experiments and in many ways has been at the cutting edge. Going Private examines the diverse privatization experiences of transportation services and facilities. Cases are drawn from the United States, Asia, Europe, and Latin America. Since almost every country has experimented to some degree with highway and bus privatization, the authors focus particularly on these services, although they also discuss urban rail transit and airports. Highways and buses, they explain, encompass all three of the most common and basic forms of privatization: the sale of an existing state-owned enterprise; use of private, rather than public, financing and management for new infrastructure development; and contracting out to private vendors public services previously provided by government employees. After thoroughly examining these services and discussing the motives for, and objections to, privatization, the authors look at the prospects for privatization in other sectors and industries. They assess those circumstances in which privatization is most likely to succeed and those in which it is most likely to fail, for political as well as economic reasons. The authors conclude that privatization involves many political and social as well as economic dimensions. Privatization is usually not simply a matter of efficiency improvements or capital augmentation but also involves such deeply imbedded societal concerns as equity, income transfers, environmental problems, and attitudes toward taxation and the role of government.
 

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Table des matières

Introduction
1
Motives and Objections
3
The Focus on Transportation
6
Overview
7
The PrivatizationRegulation Cycle
13
The Provision of Bus Services
14
The Cycle of Private and Public Involvement
16
Differences between Developing and Developed Cities
19
Mexicos Private Toll Road Program
151
Capital Markets and Regulatory Environments
161
Private Toll Roads in the United States
164
The Virginia and California Private Proposals
172
The Problem of Financial Viability
176
Are Private Roads Cheaper Faster or More Innovative?
183
The Problems of Monopoly and Regulation
190
Prospects and Opportunities
192

Developing Countries A Diversity of Experiences
22
Privatization with Fare Regulation
23
Privatization with Fare Deregulation
27
Privatization while Maintaining Subsidies
31
Basic Lessons
35
The British Experiment
37
Competition
40
Changes in Service Costs Fares and Ridership
47
Isolating the Effects of the Reforms
55
Winners Losers and Lessons
58
The US Experience
62
The Results of Contracting Out
66
Britain versus the United States
72
Summary
82
Lessons from the Global Community
84
Service Innovations versus Cost Cutting
85
The Perils of Regulating Fares or Maintaining Subsidies
86
The Limits of the Second Best
88
Overall Assessment
91
Highways Trends and Issues
97
Key Issues
100
Economic Development and Highway Privatization
105
The Modern Pioneers France and Spain
107
The Development of Spains Expressways
122
The Merits of Toll Financing
135
The Advantages of Private Concessionaires
142
Regulatory and Financial TradeOffs The Developing Countries
145
Standardization Regulation and Other Tradeoffs
194
Competitive and Regulatory Complications
199
Prospects for Efficiency and Innovation
201
Environmental and Equity Issues
204
Economic Development and Highway Privatization
207
Airport Privatization in Britain and the United States
211
Airport Ownership and Operation
212
Privatization Proposals in the United States
222
Lessons
229
The US Experience with Private Rail Transit with Arnold M Howitt and Alan D Wallis
231
Bostons World Trade Center Monorail
235
The Dulles Airport Connector
237
The Orlando Maglev Demonstration Project
243
The Problems of Private Rail Proposals
252
The Political Economy of Profitability and Pricing with Arnold M Howitt
254
The Politics of Surpluses and Pricing
260
The Politics of Losses
265
Lessons from Transport
275
The Role of Competition
276
Efficiency Gains versus Transfers
279
The Disadvantages of Externalities
286
Avoiding Subsidies and Surpluses
288
Applying the Lessons More Broadly
290
Some Concluding Observations
295
Index
299
Droits d'auteur

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Page 1 - Privatization can assume many different forms, but three are most common: the sale of an existing state-owned enterprise; use of private financing and management rather than public for new infrastructure development; and outsourcing (contracting out to private vendors) public services previously provided by government employees.

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