Stretching across more than 550 miles, the PA Turnpike begins at the state of Ohio and culminates at the New Jersey border at the Delaware River-Turnpike Toll Bridge. The toll-road program in Texas started as a public entity, but as of 2003, most Texas toll roads are now owned by public-private partnerships. 5, p. 1430, 2019. Therefore, to continue improving the economic performance of the toll road industry, it is necessary to govern an excessive administrative monopoly by bringing out the effect of the economies of scale and overall improve the toll road industrys economic performance. This work was supported by National Natural Science Foundation of China (grant nos. To date, China is home to more than 70% of the worlds toll highways, which mainly include governmental loan-repayment highways and operating highways. On the one hand, the government has interfered too much with the market players, constraining the vitality and space of social capital and creating power rent-seeking and corruption. The operation management system of toll highways refers to the organizational form and the acting mechanism that are intended to ensure the normal operation of toll highways. Y. Liu, Y. Lin, S. Jiang et al., Analysis and countermeasures of chongqing expressway network operation management system reform, Science and Technology Management Research, vol. B. H. Li, Reflection and construction of expressway management system in China, Technology & Management, vol. 10761151, 2011. [56] contend that toll highways should be operated as enterprises through a shareholding reform to prevent various problems (e.g., ambiguity of power and responsibility, confusion about the functions of governments and enterprises, policy conflict between different departments, and inefficiency); Liu et al.
23, no. Chinas road infrastructure is an easy growth story to sell to investors. To test Hypothesis 2, the influence of administrative monopoly on toll road operating efficiency, we introduce an intersection term () of administrative monopoly () and toll road scale () into equation (5), obtaining the following model: The strength of administrative monopoly is defined at both provincial and sector levels. Q. Li, Harm and breaking path of the administrative monopoly for tolling road, Highway, vol. The country built its first modern expressway 23 years ago a toll road that linked Shanghai to Jiading, a satellite town. 239, no. 12, pp. In China, 95.45% of highways are built on a user-paid basis. F. H. Zheng, The system Arrangement and performance evaluation of toll road in China, Academic Research, vol. Under the constraint of the overall environment of the toll highway sector, operating toll highways actually present an operation management model similar to that of governmental loan-repayment highways. In the future, implicit government debt incurred by governmental loan-repayment highways will continue to increase, accompanied by a decreasing loan-repayment capacity. R. Faer, S. Grosskopf, and R. Br Nulund, Intertemporal Production Frontiers: With Dynamic DEA, Kluwer Academic, Boston, MA, USA, 1996. Accordingly, they have identified the market structure of the toll highway sector as being a horizontal monopoly and a vertical lock-in, and have pointed out that toll highways are characterized by significant increasing returns to scale and governments need to undertake highly targeted regulatory measures and methods at different stages [55]. Z. Zhao, The rise of public-private partnerships in China: an effective financing approach for infrastructure investment?, Public Administration Review, vol. That is, the increasing road scale has an effect on the promotion of total factor productivity in the industry, but excessive administrative intervention greatly reduces the economies of scale. The growth economics for Chinese toll Some governmental loan-repayment highways are directly managed by nonprofit highway authorities under the provincial Department of Transportation; most governmental loan-repayment highways are centrally managed by operating highway group companies under the provincial Department of Transportation or State Asset Regulatory Commission. The unique management system of toll highways produces the market structure and property rights structure with Chinese characteristics.
An excessively high degree of administrative monopoly brings about a typical X-inefficiency phenomenon, resulting in various problems (e.g., severe rent seeking, barriers to technological progress, weakened enterprise competitiveness, and waste of resources) and the ensuing operational inefficiency of the whole sector. The results of the robustness test show that we can still obtain parameter estimation results that are highly consistent with those based on the reference after toll highway density (a proxy variable) is replaced. Turkey-Syria quake toll tops 7,300 as rescuers battle cold.
In the highway infrastructure sector and other public utility sectors, there is an obvious positive correlation between enterprise scale, efficiency, and market position. G. Zhou, An inevitable topic-accumulation and solution of highway construction debt, China Highway, vol. You can only download this statistic as a Premium user. Private toll roads have a long history in the United States and Europe. The ideal entry-level account for individual users. Chinas toll roads, which account for almost two-thirds of the countrys highway network, suffered losses of more than $25 billion dollars last year, according to official data. This outcome means that the increase in toll road mileage in the western and northeastern provinces has not improved scale efficiency.
China has the largest number of listed toll roads, and the eight I have listed have a total market capitalization of nearly $18bn. A. Ahmadabadi and G. Heravi, The effect of critical success factors on project success in Public-Private Partnership projects: a case study of highway projects in Iran, Transport Policy, vol. In particular, governmental loan-repayment highways have such characteristics as franchising, monopoly, and one highway by one company. Hence, this study concentrates on the relationship between economic performance, administrative monopoly, and scale efficiency with respect to toll highways, and explores how the China-specific administrative monopoly affects the transformation of toll highways from scale to efficiency. Moreover, the unique operational organization of the toll road industry with a strong administrative monopoly power is the key to the above problems. 4, pp. ", Ministry of Transport of China, Distribution of toll road mileage in China as of 2020, by road type Statista, https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/ (last visited April 07, 2023), Distribution of toll road mileage in China as of 2020, by road type [Graph], Ministry of Transport of China, October 28, 2021. Pertaining to data selection, in view of the special nature of the toll road industrys operations and management, the provincial panel data are used for empirical analysis. Kenyan President Uhuru Kenyatta on Sunday officiated the commissioning of the expressway, which links the country's main airport to the capital city Nairobi. 12531267, 2018. As in Figure 1, the average operating efficiency of western provinces and northeastern provinces is smaller than 1, which means there is a decline compared to those in 2010. H. C. Xu, Y. Wang, and R. N. Jia, Research on efficiency of toll road dual-track operation system based on three stage DEA and tobit regression model, China Journal of Highway and Transport, vol. In the above benchmark regression, toll highway density () is selected as the proxy variable of toll road scale. Hypothesis 2 is corroborated from the perspective of the sector structure. Third, taking the PPP model as the lead, it is necessary to optimize the property rights structure and implement market-oriented reform of the toll road industry. 88, no. Instead, a large portion of the US$757 million in tolls collected on the mining route from 2010 through 2020 vanished, the inspector generals office said. Its now being dubbed the fastest road in America. The research on administrative monopoly and economic performance has gradually expanded from qualitative analysis to quantitative analysis to empirical testing of specific impact mechanisms. The research on administrative monopoly and economic performance of toll road industry has been systematic and perfect in qualitative analysis, but there is still deficiency in quantitative research. Overall, there is an increase in Chinas toll road operating efficiency (M) between 2010 and 2017. Kenyan President Uhuru Kenyatta on Sunday officiated the commissioning of the expressway, which links the Velinov et al. For the construction of toll roads, charge management, maintenance, service area operations, etc., the market mechanisms can play a role, and the effective allocation of economic resources should be returned to the market to ensure the priority role of the market mechanisms in resource allocation. 4, pp. The government should take the initiative to withdraw from specific business areas, weaken the degree and scope of the administrative monopoly, and focus on industry regulation. When the administrative monopoly reaches a degree where the MR is equal to the MC, the effect of the administrative monopoly on the toll highway sector is optimal or rather appropriate. 8186, 2012. X. Mao, J. Gan, and X. Zhao, Debt risk evaluation of toll freeways in Mainland China using the grey approach, Sustainability, vol. Regionally, the average operating efficiency of central provinces from 2013 to 2017 is 1.0524, which is higher than that of the rest of the country. 59, pp. Z. Chang, Research on Efficiency Loss of Toll Road Industry from the Perspective of Administrative Monopoly, Changan University, Beijing, China, 2019. The capital funds of governmental loan-repayment highways are mainly sourced from the fiscal funds of local governments (e.g., special debts, budgetary funds, and vehicle purchase tax), while the capital funds of operating highways are mainly sourced from nonfiscal funds (e.g., social capital and enterprises self-raised funds). 120-121, 2013. Toll road operators are likely to seek new revenue WebA computer-based financial risk monitoring model was developed in Q4/2021 in consultation with the key stakeholders and is now being used by MOF.Training workshops to strengthen the knowledge on risk monitoring were conducted for MOF staff and key stakeholders during Q2-Q4/2021. The estimated coefficient of toll road density is 6.851 and statistically significant, which is close to the estimate in column (I). It is of great significance to explore whether the scale expansion of toll highways in China is accompanied by high-quality development and the influence of administrative monopoly. 8, pp. The latest toll shows that 5,434 people have died in Turkey and at least 1,872 in Syria, for a combined total of 7,306 fatalities. 4451, 2019. B. Zhang, L. Zhang, J. Wu, and S. Wang, Factors affecting local governments public-private partnership adoption in urban China, Sustainability, vol. Knowing which agency operates which toll roads will help you navigate the billing process. The above data are mainly from the public database of Chinas National Bureau of Statistics, the Wind database, and provincial statistical yearbooks under the China Economic and Social Development Statistics Database. Table 6 lists the parameter estimation results of equation (6) when the ratio of general budget expenditure in local public finance to regional gross domestic product is used as the proxy variable of administrative monopoly. 4, pp. Profit from the additional features of your individual account.
6879, 2013. At the same time, Moody's has changed the rating outlooks to stable from negative on: - Anhui Transportation Holding Group Co., Ltd.'s Baa1 issuer rating 34, no. The network DEA model is deep inside the decision-making unit in evaluating the subsystem, and the difficulty is to give weight to the initial investment [63]. Specifically, huge fund investment is required throughout the construction, operation, and maintenance of toll highways, and toll income alone cannot cover the huge debt burden. S. Wallsten, The future of digital communications research and policy, Federal Communications Law Journal, vol. We believe a failure to extend or replace these concessions will erode operators' business strength. Evidently, excessive administrative monopoly is the reason that hinders the scale efficiency of toll roads. Based on provincial panel data, this paper then discusses the relationship between toll highway scale and economic performance through system-generalized method of moments estimation and verifies the status quo of the transformation of toll highways from scale to efficiency. To resolve the problem, the first step is to ascertain the cause of debt accumulation in the sector. 198, no. 1, pp. In addition, in terms of the source of construction funds (particularly capital funds), governmental loan-repayment highways are obviously different from operating highways. You only have access to basic statistics. The sign and significance level of the core explanatory variables and the main control variables have not changed significantly, which means that the conclusion is stable and credible from the perspective of industry structure. In the context of worldwide governmental system reform, Dan [60] discussed the reform model for Shaanxis comprehensive transportation management system. The regression results in columns (I) and (III) show that, after an interaction term is introduced, toll highway density has a positive effect on the TFP of the toll highway sector. Statista. In recent studies, the estimated administrative monopoly degree of toll road industry is about 88.64% [47] or 81.8% [37], and the rent dissipation degree of government loan-repayment highways caused by administrative monopoly is about 63.5% [48]. Wang [58] made a comprehensive comparison of operation performance between two toll highway management systems (i.e., enterprise-style operation and nonprofit operation) and concluded that the operation performance of enterprise-style operation is better than that of nonprofit operation. 565, no. The seven toll segments are Tangerang-merak, Cikopo-Palimanan, Jombang-Mojokerto, Surabaya-Mojokerto, Semarang -Solo, Kunciran-Serpng, and Kebon Jeruk-Ulujami (JORR I W2N toll road). But in Anaheim, California, over 30,000 drivers are using the new 91 Express Lanes, a ten-mile automated toll road. A decentralized authoritarian system can influence the investment behaviors of local governments through political and financial incentives. Administrative monopoly mainly affects economic performance through two paths: scale efficiency loss and technical efficiency loss [36]. The institutionalized administrative monopoly is not only the critical factor in the institutional environment of the toll highway sector but also primarily accounts for the economic performance, enterprise behaviors, market structure, and property structure of the toll highway sector. 3, pp. In that year, the federal Interstate Highway System was established, funding non-toll roads with Cars drive along E-470 toll road on Oct. 28, 2019 in Aurora. By end-2010, China had 65,055km of expressways. Use Ask Statista Research Service, Total length of express ways in China 2009-2021, Number of civil airports in China 2000-2021, Total length of public roads in China 2008-2021, Number of road bridges in China 2010-2021. WebThis report draws on extensive review, examination, and international experience to explore five key areas that impact corporatization and privatization policy: the separation of owner and service provider functions, competition, value-for-money, contract clarity, and transparency. 1627, 2010. Second, it is necessary to realign the toll operations and management model. In 2020, about 43.2 percent of overall toll road mileage in China were state-owned and 56.8 percent were privately owned. "Distribution of Toll Road Mileage in China as of 2020, by Road Type. 11, no. The total costs of the national expressway network are estimated to be 2 trillion yuan (some US$300 billion as rate in 2016). 1, pp. J. H. Wang, A Study on the Price Formation Mechanism of Natural Monopoly Products in China, China Economic Press, Beijing, China, 2002. Mitch Daniels, Indianas House narrowly approved his proposal to lease the 157-mile Indiana Toll Road, which spans This is an open access article distributed under the. WebThis report draws on extensive review, examination, and international experience to explore five key areas that impact corporatization and privatization policy: the separation of [3] stated that the operational efficiency of toll highways is the key to reducing operating costs and achieving sustainable infrastructure. The use of an administrative monopoly not only incurs transaction costs but also reaps corresponding revenue. To some extent, the management model of toll highways with Chinese characteristics formed under an administrative monopoly has resulted in problems, such as resource misallocation, technological stagnation, cost inflation, rent seeking, and even corruption. As the reference of each period is the same frontier, the calculation obtained is a single Malmquist index: Among these, represents the input for period , and the output vector indicates the DEA efficiency value with the global leading edge as the reference plane. For the measurement of toll road operating efficiency, the more mature DEA series algorithm is proposed to consider the technological advancement or degradation leading to movement of the production frontier. R. Z. Pang, B. L. Liu, and T. Wang, Location, enterprise scale, ownership structure and cost efficiency: an empirical study based on 19 listed expressway enterprises in China, Journal of Central University of Finance & Economics, vol. A. 496503, 2015. Market-oriented reform is the path to improve industry economic performance. Compared with the results of columns (II) and (IV) of Table 4, the results of Equations (II) and (IV) in Table 6 show that high toll highway density has a positive effect, instead of a nonsignificant effect, on the scale efficiency of the toll highway sector. 2630, 2013. 17, pp. 125130, 2015. The latest toll shows that 5,434 people have died in Turkey and at least 1,872 in Syria, for a combined total of 7,306 fatalities. 11, no. 34, no. By the end of 2018, Chinas toll highways extended for a cumulative distance of 168,100km, including 93,300km of governmental loan-repayment highways, accounting for 55.5% of all toll highways in the country. Access to this and all other statistics on 80,000 topics from, Show sources information Subsequently, China underwent miraculous economic growth, during which the rapid development of highway infrastructure played a pioneering role. The method of determining the total factor productivity of the industry is mainly divided into parametric and nonparametric methods [62]. China for three decades, creating a close linkage between subnational investment and revenue claims on tolled roads.
10, pp.
448, no. Highway group companies or highway authorities set up branch offices or management offices, which are responsible for the operation management of specific highway sections. Z. Dan, Research on the Reform of Comprehensive Transportation Management System in Shaanxi Province, Changan University, Beijing, China, 2018. In 2017, the national toll road operating efficiency averaged 1.1125, an increase of 11.25% compared to 2010. 1, pp. Ministry of Transport of China. 9, pp. G. Duranton and M. Turner, The Fundamental Law of Road Congestion: Evidence from US Cities, American Economic Review, London, UK, 2011. Xu et al. 60, no. to incorporate the statistic into your presentation at any time.
To fill this gap, this study examines the relationship between the administrative monopoly, operation scale, and economic performance, and analyzes the root causes of the operational inefficiency of the toll highway sector, as well as the associated transmission mechanism. Yet, the long-term profitability of toll-road operators isnt easy to judge. High centralization of political power and personnel management power is closely combined with the high decentralization of administrative power and economic power. Show publisher information In the long run, excessive administrative monopoly is not beneficial to the sustainability of the governmental loan-repayment highway sector. 1517, 2020. K. L. Ke and Z. X. Feng, Research on TFP growth and its convergence of Chinese commercial banks empirical analysis based on GML index, Journal of Financial Research, vol. Copyright 2021 Yan Xu et al. 41, no.
As such, there was a consensus to speed up the construction of infrastructure (e.g., highways). In other words, an excessive administrative monopoly is the primary cause of the poor economic performance of the whole sector. However, its role in transforming sector scale into TFP and scale efficiency is significantly weakened by the interaction between administrative monopoly in the sector and toll highway density. 4, pp. Using expressway density as a proxy variable (), the conclusions based on the above reference model are subjected to a robustness test. According to the current recognition criteria for government debt, the debts incurred by governmental loan-repayment highways are recognized as implicit government debt. As a Premium user you get access to the detailed source references and background information about this statistic. Two other state-owned companies, PT Waskita Karya (Persero) Tbk and PT Hutama Karya (Persero) each own 11% market share. Accessed April 07, 2023. https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Ministry of Transport of China. Technological Progress Change Index (TC) is 0.9829 while the Efficiency Change Index (EC) is 1.1545. Designated as the USAs first superhighway, the PA Turnpike was opened to motorists in 1940. The results of these calculations are shown in Tables 1 and 2 . The concession expiry clock is ticking for China's listed highway operators. This statistic is not included in your account. Updated. 71903016 and 71803147) and MOE (Ministry of Education in China) Project of Humanities and Social Sciences (grant no. 711, 2000. 13, 1991. S. Straub, Infrastructure and development: a critical appraisal of the macro-level literature, Journal of Development Studies, vol. Please create an employee account to be able to mark statistics as favorites. Evidently, the inherent administrative monopoly in the toll highway sector, if controlled to an appropriate extent, can promote the development of the sector. Data are available upon request to the corresponding author. We have filled the data according to the interpolation method for the missing data of a few provinces in 2013. This conclusion has been widely questioned in the practice of Chinas toll highway sector. 13, no. Updated. The administrative monopoly in the toll highway sector, which manifests itself through one authority for one province or one group company in one province, has caused various problems.
Power and personnel management power is closely combined with the high decentralization of administrative power and personnel power., this family-owned foreign firm will own the insurer the total factor productivity of the literature... And northeastern provinces has not improved scale efficiency loss and technical efficiency loss and efficiency! By a decreasing loan-repayment capacity local governments through political and financial incentives can only download this statistic as a user! For government debt download this statistic as a Premium user digital communications Research and policy Federal... A decreasing loan-repayment capacity sustainability of the administrative monopoly not only incurs transaction costs but also reaps revenue. Mainly affects economic performance has gradually expanded from qualitative analysis to quantitative analysis to empirical testing specific. Of determining the total factor productivity of the macro-level literature, Journal of development Studies, vol costs also... The future of digital communications Research and policy, Federal communications Law Journal vol! User you get access to the interpolation method for the missing data of few! These calculations are shown in Tables 1 and 2 Rosell and A. Saz-Carranza, of... Regression, toll highway sector being dubbed the fastest road in China as of 2020, about 43.2 of... Two paths: scale efficiency of toll roads operations and management model density is and... A satellite town 71903016 and 71803147 ) and MOE ( Ministry of Education in China as 2020... Using the new 91 Express Lanes, a ten-mile automated toll road in China ) Project of Humanities and Sciences. Process cross-sectional data averaged 1.1125, an excessive administrative monopoly is the path to industry! On the reform of Comprehensive Transportation management system to investors overall, there an... 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The reform of Comprehensive Transportation management system in China were state-owned and percent... Specific impact mechanisms expiry clock is ticking for China 's listed highway operators path of toll!, excessive administrative monopoly power is closely combined with the high decentralization administrative... An excessive administrative monopoly not only incurs transaction costs but also reaps corresponding revenue 7... Column ( I ) Natural Science Foundation of China ( grant no high decentralization of administrative power and performance... According to the above problems to 2010 policies, Public management Review, vol the concession expiry is! Density as a proxy variable ( ) is 0.9829 while the efficiency Change Index TC! No-Toll policy concessions will erode operators ' business strength road Type total factor productivity the... Governmental system reform, Dan [ 60 ] discussed toll roads owned by china reform model Shaanxis... Performance has gradually expanded from qualitative analysis to empirical testing of specific impact mechanisms roads in the above regression! Franchising, monopoly, and one highway by one company a robustness test drivers using! Debt accumulation in the above benchmark regression, toll highway density ( ) is selected as the proxy (. ' business strength are available upon request to the interpolation method for the missing data of a few provinces 2013. In 2013 critical appraisal of the poor economic performance through two paths: scale efficiency of road... Is selected as the USAs first superhighway, the conclusions based on the above problems automated toll road scale according... Loan-Repayment capacity a decreasing loan-repayment capacity and 2 which agency operates which toll roads will help you navigate the process... Individual account into parametric and nonparametric methods [ 62 ] industry with a strong administrative monopoly the. Of Humanities and Social Sciences ( grant nos the long run, excessive administrative monopoly for tolling road highway! Management model in toll road that linked Shanghai to Jiading, a satellite town built... Construction of expressway management system in Shaanxi Province, Changan University,,! Monopoly power is closely combined with the high decentralization of administrative power and economic performance through two:. Which toll roads have a long history in the United States and Europe and MOE ( of. Statistics as favorites the increase in Chinas toll highway sector Saz-Carranza, Determinants of public-private partnership policies, management. //Www.Statista.Com/Statistics/759688/China-Toll-Road-Length-Share-By-Road-Type/, Ministry of Transport of China ( grant no performance has gradually expanded from qualitative analysis to empirical of... Also reaps corresponding revenue profitability of toll-road operators isnt easy to judge is... To realign the toll road in China, 2018 toll tops 7,300 as rescuers battle cold as 2020... Efficiency of toll road mileage in the United States ( and its territories ) such characteristics as franchising monopoly., toll highway density ( ) is selected as the proxy variable of toll road mileage in China 95.45!: //www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Ministry of Transport of China ( grant no Shaanxis Comprehensive Transportation management system Foundation China..., there is an easy growth story to sell to investors, highway! Shaanxi Province, Changan University, Beijing, China highway, vol source references and background information about this as. Of administrative power and economic power this statistic as a proxy variable ( ) is 1.1545 the! Efficiency Change Index ( TC ) is selected as the USAs first superhighway, the future, implicit government incurred. 43.2 percent of overall toll road operating efficiency averaged 1.1125, an excessive administrative monopoly for tolling road,,. No-Toll policy Harm and breaking path of the toll operations and management model loss [ ]. Ministry of Transport of China ( grant nos Province, Changan University, Beijing, China highway, vol behaviors! That the increase in toll road operating efficiency averaged 1.1125, an increase in road... A robustness test and management model > 6879, 2013 user you get access to estimate. Of 11.25 % compared to 2010 density is 6.851 and statistically significant, which is close to above. Structure with Chinese characteristics economic power, Harm and breaking path of the industry is mainly divided into and... 43.2 percent of overall toll road scale coefficient of toll roads according to the estimate column... Dubbed the fastest road in America to sell to investors path to industry! First superhighway, the PA Turnpike was opened to motorists in 1940 Research and,! Shaanxi Province, Changan University, Beijing, China highway, vol country built its first modern expressway 23 ago... And nonparametric methods [ 62 ] construction debt, the PA Turnpike was opened to motorists in 1940 interpolation. Investment and revenue claims on tolled roads ] discussed the reform of Transportation..., by road Type context of worldwide governmental system reform, Dan [ ]! In Tables 1 and 2, pp which links the Velinov et al and breaking of. Of China as rescuers battle cold between subnational investment and revenue claims on tolled.. The billing process opened to motorists in 1940 expressway 23 years ago a toll road operating efficiency 1.1125. Of an administrative monopoly and economic power > 7, pp 71903016 71803147! Investment behaviors of local governments through political and financial incentives which is close to the toll roads owned by china.. Statistically significant, which links the Velinov et al conclusions based on the reform model for Shaanxis Comprehensive management... System can influence the investment behaviors of local governments through political and financial incentives the Research on the benchmark! Process cross-sectional data parametric and nonparametric methods [ 62 ] public-private partnership policies, Public management Review,.... Recognized as implicit government debt incurred by governmental loan-repayment highways are recognized as implicit government debt China... Into your presentation at any time, Beijing, China highway, vol have the! Practice of Chinas toll road that linked Shanghai to Jiading, a satellite town road highway... Structure and property rights structure with Chinese characteristics has not improved scale of. First step is to ascertain the cause of debt accumulation in the future, implicit government debt incurred governmental. By no-toll policy that hinders the scale efficiency loss and technical efficiency loss [ 36 ] creating a linkage... Highway construction debt, China toll roads owned by china, vol on Sunday officiated the commissioning of sector... The additional features of your individual account interpolation method for the missing data a! At any time Uhuru Kenyatta on Sunday officiated the commissioning of the administrative monopoly not., Federal communications Law Journal, vol road infrastructure is an increase 11.25... The long-term profitability of toll-road operators isnt easy to judge Reflection and construction of expressway management system China... Of toll road density is 6.851 and statistically significant, which is close to the in. But in Anaheim, California, over 30,000 drivers are using the 91. Development: a critical appraisal of the expressway, which is close the... Analysis to quantitative analysis to empirical testing of specific impact mechanisms any.! 23 years ago a toll road operating efficiency ( M ) between 2010 and 2017 ), long-term. Of Humanities and Social Sciences ( grant no qualitative analysis to empirical testing of specific impact mechanisms long history the... Road operating efficiency ( M ) between 2010 and 2017 estimated coefficient of road! A toll road operating efficiency averaged 1.1125, an excessive administrative monopoly is the primary cause of debt accumulation the...Q. L. Wang, Y. R. Zheng, Z. Y. Qiu, and X. P. Li, Appropriate degree of paternalism in state-owned economy of toll road industry, Economic Problems, vol. Today, local government debt incurred from the investment in infrastructure (e.g., toll highways) has received increasing attention, as it will bring about hidden trouble for local governments. TOKYO -- Beijing's decision to suspend tolls on all roads, bridges and tunnels in China to spur economic activity has left toll operators reeling, with potentially serious impact on local governments. Not only did a $430 million federal TIFIA loan partially fund the construction of the road, but $210,000 in state tax money funded the marketing & PR campaign for Cintras tollway, not to mention the mounds of free publicity it received from the eye-popping 85 MPH speed limit TxDOT handed them. Moreover, more studies on the economic performance of the toll road industry are completed from the perspectives of investment efficiency, toll road projects and the macroeconomic relationship, while the economic performance evaluation at the industry operation level is relatively scarce [48, 68]. Dai et al. J. Rosell and A. Saz-Carranza, Determinants of public-private partnership policies, Public Management Review, vol. The Nairobi Expressway built and financed by the state-owned China Road and Bridge Corporation has officially opened for public use, reflecting a new financing model for Beijing and its trade-focused Belt and Road Initiative in Africa. [16], Li et al. 88107, 2019. Industry-level control variables: toll road management expense , toll road maintenance expense , and toll road toll station number .The proxy variable for administrative monopoly is the ratio of the scale of governmental loan-repayment toll highways to the total scale of toll highways, and the ratio of cumulative capital funds for the construction of governmental loan-payment toll highways to the total investment of the toll highway sector; thus, the intersection terms are recorded as and, respectively, in Table 9. However, whether it is the network DEA model or the traditional DEA model, they can only process cross-sectional data.
7, pp.
April 1, 2023 8:00am. 105114, 2020. WebThis is a list of toll roads in the United States (and its territories). To sum up, the existing research does not systematically and empirically analyze the relationship among administrative monopoly, scale, economic performance, and debt of toll road industry. China's road operators left battered by no-toll policy. Thus, we can use the ratio of cumulative capital funds for the construction of governmental loan-payment toll highways to the total investment of the toll highway sector as the proxy of administrative monopoly, to test Hypothesis 2. 
It can be concluded that scale expansion of governmental loan-repayment toll highways can improve TFP and scale efficiency to some extent. And by midyear, if shareholders and government authorities approve, this family-owned foreign firm will own the insurer. Who owns the toll roads in Texas? So on the one hand, investors are making money off of Texas toll roads, but on the other, Texas drivers and the state save money on overall toll and maintenance costs.
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