@misc{10481/54556,
year = {2018},
url = {http://hdl.handle.net/10481/54556},
abstract = {The objective of this paper is to analyze if there
is any difference between the light rail systems in Spain
according to whether they have been carried out through
public financing or private financing (totally or partially).
The importance of this study lies in the fact that, for decades,
the public–private partnership has been proposed as
an alternative to public financing of public transport projects
in order to obtain additional financial resources,
reduce the public deficit, and increase efficiency. However,
there are hardly any detailed studies describing how these
initiatives have turned out. Therefore, the present study
analyzes if there is any difference in the main variables
explaining the performance of light rail projects in Spain
depending on their source of funding can be found. For
this, the relationship between variables related to design,
operation and costs of the projects, and the percentage of
private financing were statistically analyzed. As the most
relevant conclusion, we underline the fact that the investment
per passenger increases when financing is completely
private. This would indicate that the most cost-effective
lines, from a social standpoint, were financed totally or
partially by the public administrations, whereas the least
beneficial ones for society were assigned to private enterprises.
This finding provides an advance in the knowledge
of the consequences of private participation in the financing
of public transport projects, indicating, moreover, that
the biggest beneficiaries of this type of projects might be
the construction companies and the politicians involved},
organization = {The authors would like to thank the ERDF of
European Union for financial support via project ‘‘Herramienta para
la evaluacio´n previa de infraestructuras de transporte pu´blico’’
(GGI3003IDIE). We also thank to Public Works Agency and
Regional Ministry of Public Works and Housing of the Regional
Government of Andalusia (AOPJA) and the Ministry of Education,
Culture and Sports of the Government of Spain.},
publisher = {Springer},
keywords = {LRT (Light Rail Transit)},
keywords = {urban transport},
keywords = {transport financing},
title = {Private Financing or Not, That is the Question: Lessons from the Light Rail Systems in Spain},
doi = {https://doi.org/10.1007/s40864-018-0089-1},
author = {Calvo Poyo, Francisco Javier and Ferri García, Ramón and Hermoso Gutiérrez, José Alberto and Oña López, Juan José De},
}