PUBLIC-PRIVATE PARTNERSHIPS: THE INTERNATIONAL EXPERIENCE

Overseas, as in the United States, early planning and a rigorous analysis of a proposed project's economics are essential. In reviewing troubled projects, one invariably finds that investment decisions were made before anyone asked the really tough questions. The use of public-private partnerships in the United Kingdom dates back to the Private Finance Initiative in 1994 and carries on today. However, tolls are virtually unheard of in the United Kingdom; instead, project sponsors typically rely on shadow tolls, through which the government pays a private operator a fee on a per-vehicle basis. It is estimated that these partnerships afford cost savings of 12% to 17%, although technological innovation introduced through partnering with the private sector has yet to meet expectations. Similar partnering efforts in Australia are producing good results as well, with measurable benefits achieved both through reduced operating cost and improved customer service. The state of Victoria's rail and transit system is now managed under a performance-based operating contract that has yielded a substantial reduction in aggregate subsidies. It will also reduce the prevalence of fixed subsidies in favor of variable performance payments.

• Record URL:
  http://onlinepubs.trb.org/Onlinepubs/conf/2000/cp24/cp24-007.pdf
• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/isbn/0309072107
• Supplemental Notes:
  • Distribution, posting, or copying of this PDF is strictly prohibited without written permission of the Transportation Research Board of the National Academy of Sciences. Unless otherwise indicated, all materials in this PDF are copyrighted by the National Academy of Sciences. Copyright © National Academy of Sciences. All rights reserved.
• Corporate Authors:

  Transportation Research Board

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  Washington, DC  United States  20001
• Authors:
  • Michel, H
  • Alexander, P
  • McMeckan, J
  • Garin, R
• Conference:
  • Second National Conference on Transportation Finance
  • Location: Scottsdale, Arizona
  • Date: 2000-8-20 to 2000-8-23
• Publication Date: 2001

Language

• English

Media Info

• Media Type: Digital/other
• Pagination: p. 59-66
• Monograph Title: SECOND NATIONAL CONFERENCE ON TRANSPORTATION FINANCE, SCOTTSDALE, ARIZONA, AUGUST 20-24, 2000
• Serial:
  • Transportation Research Board Conference Proceedings
  • Issue Number: 24
  • Publisher: Transportation Research Board
  • ISSN: 1073-1652

Subject/Index Terms

• TRT Terms: Benefits; Conferences; Costs; Customer service; Finance; Operating costs; Public private partnerships; Savings; Subsidies; Transportation
• Uncontrolled Terms: Variable performance payments
• Geographic Terms: Australia; United Kingdom
• Subject Areas: Economics; Finance; Transportation (General); I10: Economics and Administration;

Filing Info

• Accession Number: 00818788
• Record Type: Publication
• ISBN: 0309072107
• Files: TRIS, TRB
• Created Date: Oct 8 2001 12:00AM