城市轨道交通建设采用PPP融资模式的探讨

城市轨道交通建设投资巨大,仅靠政府投资难以满足发展的需要,因此必须采用多种方式筹措建设资金特别是吸引民营资本的进入。通过分析城市轨道交通建设采用PPP模式的总体思路和运作框架,探讨运用PPP模式的3种运作方式,说明该模式是吸引民营资本参与城市轨道交通建设的较好方式,但应建立相应的保障机制。     

Introducing public–private partnerships for metropolitan subways in China: what is the evidence?

Rapidly growing motorisation has led to high levels of traffic congestion and emissions and has encouraged large Chinese metropolitan areas to invest in subway developments. The financial burden of these projects, however, far exceeds the availability of available public funds. As a consequence, the Chinese government has started to allow local governments with public–private partnerships (PPP) and private finance to supplement the funding deficit. Analysts often claim that countries have to fulfil certain institutional and other pre-conditions before they can make effective use of PPP. In this article, China’s record in meeting those requirements is examined and conclusions are drawn as to where the remaining weaknesses lie. Seven recent PPP projects for subways in five large metropolitan areas in China (Shanghai, Beijing, Shenzhen, Chongqing and Harbin) are investigated empirically. Conclusions are drawn concerning China’s current status regarding the use of PPP, the way it has been adapted to China’s financial, institutional and geographical context and the likely prospects for PPP in China in the future.     

LRT and street tram policies and implementation in turkish cities

Urban transport sustainability policies aim to encourage a greater use of public transport and an improvement in service provision. However, governments are usually strapped for capital investment funds, and there are planning and financing problems that either delay LRT and street tramway improvements and/or hinder their utilisation. During the past decade, rail developments have dominated Turkish urban and national transport policies: many new lines have been opened and others are under construction. Turkey now has eight cities with LRT or tramway lines (in addition to the three major cities of Istanbul, Ankara and Izmir). Based on analyses of unpublished data from transport master plans, and from interviews conducted with planning experts who worked on such master plans, and from political leaders, this paper assesses how effectively these smaller cities have planned and financed their LRT and trams, and how efficiently they are operated. How well Turkey performs with its urban LRT and tramway developments within the context of an international “railway renaissance” is also critically assessed. In Turkey, the PPP modality of financing (mostly in the form of BOT) is favoured for highway investment whereas many of the railway projects still require international loans. A greater role for the private sector in Turkey is recommended to reinforce this embryonic railway renaissance and to ensure greater operational and financial sustainability.     

Privatization of airports in Asia

It has been claimed that Asia lags behind the rest of the world in the privatization of airports. At the same time, the air transport sector has been growing quickly and this has placed enormous pressure on airport infrastructure. This paper reviews the situation and finds that the private sector is involved extensively with new airports and the upgrading of existing airports in Asia. Although the models used to accommodate the private sector appear similar to those used elsewhere, governments in Asia have retained majority control in every case. Despite the fact that some governments say that efficiency is important to them, the most common and important motive in “privatization” in Asia is to mobilize a new source of finance. Airports remain high on the agenda of public policy. Governments are concerned about abuse of monopoly powers and they want to cross-subsidize regional airports, but they lack the institutional strengths to regulate effectively. By retaining majority control, however, governments risk losing the efficiency benefits of privatization. The paper explores the reasons why airports are such difficult cases to deal with and concludes that there is a greater need than ever to be able to compare the performances of airports.     

Toll financing in Norway: The success,the failures and perspectives for the future

Public funds for road investments have been subjected to constraints in many countries over the past three decades. Many governments have therefore resorted to financing road infrastructure using tolls. This article investigates what the future may offer with respect to toll financing in Norway. The changing environment in which transport planning takes place requires adaptations such as transforming tolls into congestion pricing schemes. Lessons from Norway may be useful for decision makers in Europe and elsewhere who are concerned with toll financing.     

Contribution to the study of PPP arrangements in airport development,management and operation

Following the liberalization wave in the airline sector, airports have been gradually taken out of the public sphere and open to the private initiative. This phenomenon is generally referred to as privatization, but not all the cases consist of, in fact, a full divestiture of assets. Although infrastructure management is undertaken by the private sector during a pre-defined period, usually 30 years or more, the property remains public or is transferred to the public domain after that period. This is a form of Public–Private Partnership (PPP) where two different models can be found: institutionalized PPP or a typical contractual regime, such as the concession arrangements. PPP options have been a “hot” topic over the last decade, but few studies can be found in the literature on the PPP projects development in airport systems, for example, as far as risk sharing is concerned. This paper looks at recent developments in airport “privatization”, distinguishing privatizations from PPP arrangements, through a case study approach, and establishing a comparative analysis of different PPP models used for airport management. Some comments are made about the Portuguese model and the announcement of future privatization.     

Shaping urban transport policies in China: Will copying foreign policies work?

After decades of rapid economic growth, Chinese cities now face serious urban transport challenges, such as congestion, air pollution, energy shortage, and global climate change. Efficient and equitable urban transport policies are essential to China’s sustainable development, in which urbanization plays a critical role. Can Chinese cities solve these challenges by copying or modeling the policies of other nations? This paper argues that understanding the unique contexts of Chinese cities is necessary for predicting whether policies implemented elsewhere will perform well in China. The study explores four examples of hotly contested urban transport policies. The previous experience of each policy is compared with its likely efficiency and distributional consequences in China. Specific attention is paid to how the policy context – the spatial and institutional characteristics of the Chinese cities – can affect the adoption of foreign urban transport policies in China. Suggestions regarding the four policies are proposed to policy makers, followed by conclusions and discussions.     

Are wider economic impacts of transport infrastructures always beneficial? Impacts of the Istanbul Metro on the generation of spatio-economic inequalities

Assessment of the Wider Economic Impacts (WEIs) of transport infrastructures has become crucial for justifying transport infrastructure investments, especially large-scale projects, not only for transport researchers but also for policy makers. Although the WEIs have been widely discussed in transport research and policy for more than a decade, these discussions lacked an important dimension: the likelihood of transport infrastructure investments to produce spatio-economic inequalities. This paper discusses the necessity of incorporating an understanding of spatio-economic inequalities in the analysis of WEIs. In order to do that, an ex-post analysis of the Istanbul Metro is carried out. In this sense, this paper also adds to the growing number of ex-post analysis of transport infrastructures. Through its findings based on the ex-post analysis of the impacts of the Istanbul Metro, this paper concludes that contemplating spatio-economic inequalities in ex-ante analysis of transport infrastructure investments will improve the calculation of WEIs of transport infrastructures. Such an approach is expected to help policy makers investing in projects that are less likely to produce spatio-economic inequalities.     

A tool for prioritizing multinational transport infrastructure investments

Globalization and the opening of countries’ borders, renders transport infrastructure projects more multinational than country specific. Hence, the need arises for a framework tool to prioritize transport infrastructure investments located in more than one country that will form a coherent multinational transport network. This paper presents such a tool, comprising of the procedure for prioritisation, as well as the necessary ex-ante evaluation framework. It is developed in order to be used at a strategic level by the policy makers and to cope with the limited availability and quality of data in the countries concerned. The tool's structure involves four components, constituting the procedural phases (identification, data collection, evaluation and prioritization), ensuring at the first procedural phase the inclusion of all projects, as these are proposed by the countries. The evaluation component of the tool is based on the well-known multi-criteria approach MAUT (Multi Attribute Utility Theory), that employs sufficient but limited criteria reflecting the the transport policy priorities of the countries concerned as well as the available financial resources. In addition, criteria related to financial and economic viability of the projects and their international dimensions are included. The tool has been applied to prioritize transport projects in a multinational transport network, comprising of 21 countries, which are members of the Trans European Motorway and Railway networks (TEM, TER) in Europe with satisfactory results.     

Trading off public values in High-Speed Rail development in China

Theory on how different public values are prioritized in transport infrastructure planning is growing increasingly sophisticated, but most of it has focused on Western countries. Its relevance to China is thus far unknown territory. In this article, we apply the theory on public values and the way various values are traded off against each other to the case of High-Speed Rail development in China. We develop a Public value tradeoff matrix enabling us to identify and measure the various public values at play and to establish what changes took place in the prioritization of various public values over time. In the history of HSR development in China, a shift from regional equity and safety through economic growth and speed to organizational efficiency and cooperation can be observed in the period before HSR took off in China until now. The trading off process takes place through different institutional paradigms and organizational mechanisms in China than in Europe and America, and occurs more at the strategic apex of the administrative hierarchy.     

Asset management: remedy for addressing the fiscal challenges facing highway infrastructure

In recent years, increasing claims have been advanced for asset management as a promising new approach to infrastructure management. If these claims are seen in the light of past management fads, such as zero-based-budgeting (ZBB), management-by-objectives (MBO), total quality management (TQM), and business process reengineering (BPR), asset management may be considered the latest in a long line of management fads being marketed by consultants to transportation agency managers. However, asset management can be an effective response to the fiscal challenges confronting the United States' highway infrastructure.This paper explores asset management in light of recent developments in the funding, condition, documentation, and management of the US highway infrastructure. The paper begins with a discussion of capital biases associated with traditional US federal highway funding programs. It then describes the advent of innovative financing approaches that have evolved in response to the inability of the Federal Highway Trust Fund to meet burgeoning highway renewal and replacement needs, caused in part by widespread deferred maintenance of the highway system. The paper suggests that public sources of funding for the highway system will not be adequate to renovate or replace current highways and build new capacity. Closing the expected shortfall in public highway funding will require sustained infusions of private sector funding. However, the financing of highways through public–private partnerships will require state and local transportation agencies to radically change the ways in which the highway infrastructure is managed.Within the context of gradual changes in highway management and financing, the paper suggests a critical role for asset management – in demonstrating prudent stewardship of highway infrastructure and facilitating private sector confidence in highway investments. The paper examines the implications for innovative highway financing resulting from recent developments in asset management:

• •further devolution of highway program and funding responsibilities to state and local levels of government;
• •developments in asset management processes and practices; and
• •the infrastructure reporting requirements recently developed by the Governmental Accounting Standards Board (GASB).

The infrastructure reporting requirements of GASB's Statement No. 34 are intended to increase accountability for publicly owned infrastructure and promote improved management of long-lasting capital assets. GASB 34 also provides a basis for enabling public agencies to finance implementation of asset management techniques and renewal of infrastructure assets through securitization. Covenants associated with securitized highway bonds would provide the fiscal discipline needed to ensure that responsible agencies abide by the terms of the bond agreements – thereby assuring preventive asset maintenance and freeing up resources for debt service payments. Shadow tolling provides a useful mechanism for generating a positive revenue stream to support securitized highway bonds.The paper concludes that asset management is a proven and essential process for helping the US rebuild and expand its highway infrastructure.     

A freight transport optimization model for integrated network,service, and policy design

This paper presents a freight transport optimization model that simultaneously incorporates multimodal infrastructure, hub-based service network structures, and the various design objectives of multiple actors. The model has been calibrated and validated using real-life data from the case study of hinterland container transport of the Netherlands, where CO₂ pricing, terminal network configuration, and hub-service networks are chosen as the design measures. Policy packages combining multiple types of policies show better network performance as compared with the optimal performance resulting from a single policy type. This illustrates the value of incorporating multiple types of policies simultaneously in freight transport optimization.     

日本高速铁路投融资模式研究

分析日本高速铁路的发展现状、投资规模、资金来源渠道、投融资管理机构,认为日本高速铁路的投融资政策要求政府在新干线建设中起主导作用,同时制定新干线建设的配套政策。     

Rail transport policy-making in UK Passenger Transport Authority areas

This paper summarises the findings of a research project which analysed the impact of local administrative geography on the development of local rail transport policies in Merseyside and Strathclyde, two of the UK’s Passenger Transport Authority (PTA) areas, between 1986 and 1996. The ways in which statutory local authorities and other public, private and voluntary sector organisations engaged in the policy process are illustrated in order to explain the development of specific policies. The differing spatial structures of the city-regional and joint board PTAs in existence over this period are shown to profoundly influence the aspirations of each PTA, the mechanisms of policy-making and the type of rail transport investment projects promoted. The implications of these differences for the accountability of each structure of local governance are outlined.     

Do institutional structures matter? A comparative analysis of urban carbon management policies in the UK and Germany

The paper addresses the important question of how institutional structures matter to the delivery of climate change policy for urban transport. It examines the strategic goals, policy tools in operation and initial progress towards carbon emission reduction in seven cities across the UK and Germany where different institutional structures exist. The UK has the presence of a strong national carbon target and strong hierarchical national–local government relationships whilst Germany has a more integrated system of local transport provision in a context where local and regional government is stronger. Our findings show that the carbon agenda has made very little difference to what is happening on the ground in the cities. Across all sites, progress is being made but largely through technological improvements which are being almost completely offset by population growth. Even in the more integrated city environments there has not be an additional stimulus to manage the demand for travel.Contrary to previous research therefore, we cannot conclude that institutional structures are paramount in delivering effective carbon reduction policies. The institutional structures in the UK and in Germany are not perfectly aligned to carbon management but, given the cross policy impacts of most transport interventions, this is perhaps inevitable. We can clearly conclude however that “better” structures are not sufficient to achieve the implementation of more effective carbon policies. Whilst institutional structures must matter, it is the broader governance environment and the resources and politics involved in transport policy that currently seem to dominate the importance of the carbon agenda and implementation paths that emerge.     

中国铁路亟需构建公共投资制度

近年来，中国铁路基础设施得到了长足发展，路网规模、路网结构、技术等级等都有了较大程度的提升。在基础设施建设的强力推动下，相关铁路机车车辆技术装备水平、信息化、运营管理体制得到明显改善，铁路技术创新能力也得到一定程度的孵化和培育。建立完善公共投资制度对铁路基础设施建设良性运转具有重要意义。在目前公共投资制度相对缺位的情况下，我国铁路运输系统发展出了一系列替代机制，以“部省协议”为代表的合资铁路机制、以大秦铁路为代表的上市融资机制、以“政企合一”为代表的内源性融资机制等，都是带有公共投资制度特征的制度安排。     

Safety and travel time in cost-benefit analysis: A sensitivity analysis for North Rhine-Westphalia

Decisions on large-scale infrastructure concepts are frequently based on cost benefit analysis (CBA). Using 431 road projects evaluated in the integrated transport planning process in North Rhine-Westphalia, Germany (IGVP NRW) this paper examines the evaluation dimensions traffic safety (fatalities) and travel time in private passenger transport. The unit values of traffic fatalities and travel time are varied, and the effects of the variations on the rank order of the projects are examined. Target conflicts between safety and travel time are studied as well as the contribution of these two dimensions to the total benefit values. The sensitivity analysis shows that the evaluation results are fairly stable against variations in unit values of travel time and fatalities. The relevance of traffic safety in terms of its contribution to total benefit as well as in terms of the unit value appears to be relatively minor. The unit value of travel time is higher than that of lifetime. Some projects turn out as feasible in the evaluation even though they are likely to increase the number of fatalities. The paper therefore suggests the higher weighting of traffic safety in CBA.     

Searching for policy priorities in the formulation of a freight transport strategy: a canonical correlation analysis of freight industry attitudes

An efficient and effective freight transport strategy can be aided by early professional contributions from key stakeholders. One broad group who have historically been given limited opportunity to influence the drafting of a freight strategy, are commercial road users and shippers who manufacture and distribute goods. Utilising a data set collected in Australia in 1996 from a sample of organisations involved directly and indirectly in road freight transportation, views were sought on road infrastructure changes, new road infrastructure, non-road infrastructure needs and transport policies. An optimal scaling approach using non-linear canonical correlation is implemented to search for structural relationships between the underlying policy and infrastructure dimensions and the various industry categories. This framework provides a powerful mechanism for identifying differences among stakeholders in terms of their support for or opposition to specific policies. Results reveal the considerable differences in attitudes associated with the component parts of the freight industry.     

Bus rapid transit as a neoliberal contradiction

Bus Rapid Transit (BRT) is being implemented as a neoliberal project, but it creates contradictions that challenge the premise of neoliberalism. BRT projects are affordable rapid transit infrastructure, but they are also an impetus to restructure the urban bus sector in developing cities with informal mass transport. The dominant model of BRT implementation creates a market for bus service from large private companies where the government takes on the risk and brands the service as part of the city's attempt to be a ‘world class’ city that can attract mobile capital. However, BRT and the formalization of the bus sector can increase the power of urban residents by firmly putting transport in the public sphere; workers by increasing the incentives for collective action; and bus riders by prioritizing space for buses over cars. But these are only openings that require action to take advantage of the contradictions.     

Tourism planning requirements from a private sector perspective: the case of Hong Kong

Government’s role in tourism planning has shifted from control to consultation, and many governments have adopted economic planning that move the responsibility for investment in infrastructure from the public to the private sector. In Hong Kong, the government has not articulated a clear tourism policy to guide tourism development but continues to assume responsibility for significant tourism infrastructure investment. This paper considers the views of the private sector towards tourism planning in Hong Kong, which gravitate towards the need for a formalized planning. The tourism sector supports the interventionist policies that have been a characteristic of the government’s relationship to the tourism industry in the past, believes that the current approach to planning needs to be replaced by a formal planning process, and that there is a need to include community groups in the policy determination process. The insights gained from the case of Hong Kong may serve as a reference for other destinations.