Observatorio de I+D+i UPM

Memorias de investigación
Research Publications in journals:
The Impact of the Economic Recession on Toll Highway Concessions in Spain
Year:2012
Research Areas
  • Engineering,
  • Transport
Information
Abstract
After joining the European Union in 1986, Spain experienced steady economic growth that enabled the country to grow at a greater pace than other European countries. During this period, the government of Spain opted for major investments in public infrastructure by taking advantage both of the funding provided by the European Union and of several types of public-private-partnership (PPP) approaches. Within this framework, the government of Spain between 1996 and 2004 procured a series of toll highway concessions. These concessions entered into operation a few years before the global economic recession made itself felt in Spain. The concession contracts signed between the government and some private consortia allocated most of the risks (expropriation, construction, and traffic) to the private sector. In this paper the impact that the economic recession has had on the business performance of the concessionaires is assessed, and the effectiveness of the measures adopted by the government to help the concessionaire to avoid bankruptcy is analyzed. It was found that some of the guarantees offered by the legal framework to the concessionaires in case of bankruptcy are prompting an outcome that could negatively affect the users. In addition to that, some suggestions as to how to better allocate risk in toll highway concessions in the future are provided
International
Si
JCR
Si
Title
Journal of Management in Engineering
ISBN
0742-597X
Impact factor JCR
0,787
Impact info
Datos JCR del año 2011
Volume
Journal number
28
From page
398
To page
406
Month
OCTUBRE
Ranking
Participants
  • Autor: Jose Manuel Vassallo Magro (UPM)
  • Autor: Alejandro Ortega Hortelano (UPM)
  • Autor: María de los Ángeles Baeza
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Planificación del Transporte
  • Centro o Instituto I+D+i: Centro de Investigación del Transporte
S2i 2020 Observatorio de investigación @ UPM con la colaboración del Consejo Social UPM
Cofinanciación del MINECO en el marco del Programa INNCIDE 2011 (OTR-2011-0236)
Cofinanciación del MINECO en el marco del Programa INNPACTO (IPT-020000-2010-22)