Observatorio de I+D+i UPM

Memorias de investigación
Research Publications in journals:
The Minimum Income Guarantee in Transportation Infrastructure Concessions in Chile.
Year:2007
Research Areas
  • Town and country planning
Information
Abstract
Many governments are increasing private participation in providing and financing transportation infrastructure through concession contracts. One of the main challenges in the definition of those contracts is the correct allocation of risks between the public and the private sectors. Traffic risk has usually been difficult to allocate because neither the concessionaire nor the government can reasonably control it. In addition, traffic forecasts have proved to be inaccurate. Consequently, many governments are implementing traffic risk mitigation mechanisms in concession contracts. One of these mechanisms is based on the establishment by the government of a minimum income guarantee. Results of the implementation of a minimum income guarantee in Chile are presented: 38 transportation concessions were awarded in the past 12 years. The economic crisis that struck Chile from 1998 to 2002, reducing traffic levels below forecasts, makes the analysis of the performance of that mechanism particularly interesting. Despite the economic crisis, the implementation of a minimum income guarantee in Chile worked well because it encouraged private participation and was not very costly for the government. However, that mechanism did not reduce renegotiation pressures from concessions¿ shareholders as a consequence of the crisis.
International
No
JCR
No
Title
Transportation Research Record, vol. 1960
ISBN
0361-1981
Impact factor JCR
0
Impact info
Volume
1960
Journal number
1960
From page
15
To page
23
Month
SIN MES
Ranking
Participants
  • Participante: A. SÁNCHEZ
  • Autor: Jose Manuel Vassallo Magro (UPM)
Research Group, Departaments and Institutes related
  • Creador: Grupo de Investigación: Investigación en Planificación del Transporte
  • Departamento: Ingeniería Civil: Transportes
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