Engel, EduardoGaletovic, Alexander2014-04-022014-04-022013-11https://hdl.handle.net/10986/17595Cities exist, grow, and prosper because they take advantage of scale economies and specialization wrought by agglomeration. But output growth inevitably stresses transport infrastructure because production requires space and mobility. To prevent congestion from crowding out agglomeration benefits and to expand the supply of urban land, cities must invest in transport infrastructure. Building more infrastructures, especially highways, just fosters sprawl and fails to reduce congestion that people respond to more capacity by driving more and wasting even more time. In this view, a central task for policy makers and planners is to curb the preference for cars. Proponents of this view advocate subsidizing public transportation; enacting taxes and restrictions to raise the costs of owning and driving cars; and establishing zoning regulations to foster compact living, shrink the spatial distribution of activities, and reduce the number of vehicle trips. Yet urban planners often lack formal and real authority to cut through the bureaucratic web of multiple authorities and jurisdictions. Can public-private partnerships (PPPs) deal with these problems better than conventional public provision and ensure proper maintenance, timely expansion, and less congestion?, is discussed in this report.en-USCC BY 3.0 IGOACCIDENTSACCOUNTINGAGGLOMERATIONAGGLOMERATION BENEFITSAPPROPRIATIONSASSET OWNERSHIPBALANCE SHEETBASIS POINTSBIDBIDSBONDBOND FINANCINGBONDHOLDERBONDHOLDERSBONDSBRIDGEBUY BACKCAPACITY EXPANSIONCAPITAL MARKETCAPITAL REQUIREMENTSCARCAR TRAVELCARSCASH FLOWSCITIESCONCESSIONCONCESSIONAIRESCONCESSIONSCONGESTIONCONTRACT DESIGNCONTRACT MONITORINGCONTRACT RENEGOTIATIONCONTRACTUAL OBLIGATIONCOST OF CAPITALCOUNTRY RISKCOUNTY TRANSPORTATIONDAILY TRIPSDEBTDECENTRALIZATIONDEFAULT RISKDISCOUNT RATEDRIVINGECONOMIC PERFORMANCEEFFICIENT SCALE OF OPERATIONELASTICITYELASTICITY OF DEMANDELECTRICITYEXCHANGE RATEEXPRESS LANESEXPROPRIATIONEXTERNALITIESFINANCIAL CRISISFINANCIAL MARKETFINANCIAL SUPPORTFINANCIAL VIABILITYFRANCHISE AGREEMENTFREEWAYFUTURE DEMANDGOVERNMENT BUDGETGOVERNMENT DEBTGOVERNMENT GUARANTEESGOVERNMENT PAYMENTSGOVERNMENT SPENDINGGROWTH RATESHIGHWAYHIGHWAY MAINTENANCEHIGHWAY PROJECTSHIGHWAYSINCOMEINCOME ELASTICITYINFRASTRUCTURE COSTSINFRASTRUCTURE PROJECTSINFRASTRUCTURE PROVISIONINSTITUTIONAL REFORMINTEREST RATESINTERNATIONAL AIRPORTINTERNATIONAL TRADELENDERLOCAL GOVERNMENTSMAINTENANCE CONTRACTORSMARKET DISCIPLINEMARKET ECONOMYMOBILITYMORAL HAZARDMOTOR VEHICLESMOTORISTSMUNICIPALITIESNATIONAL GOVERNMENTSNEGATIVE EXTERNALITIESNOISEOPERATING EXPENSESPIERSPLEDGESPOLLUTIONPOWERPRESENT VALUEPRINCIPAL PAYMENTPRIVATE FINANCINGPRIVATE PARTYPROPERTY RIGHTSPROVISIONSPRUDENTIAL REGULATIONPUBLICPUBLIC AGENCIESPUBLIC DEBTPUBLIC FINANCEPUBLIC FUNDSPUBLIC GOODSPUBLIC INFRASTRUCTUREPUBLIC MANAGERPUBLIC MANAGERSPUBLIC PROJECTSPUBLIC PROVISIONPUBLIC SECTORPUBLIC TOLL ROADSPUBLIC TRANSPORTATIONPUBLIC WORKSREGULAR PAYMENTSRENEGOTIATIONSRESERVERETURNRETURNSREVENUE COLLECTIONRISK SHARINGROADROAD EXPENDITURESROAD USERSROADSROUND TRIPROUTESAVINGSSERVICE PROVIDERSSETTLEMENTSHAREHOLDERSSPRAWLSTREET MAINTENANCESTREETSTAXTAX REVENUETAX REVENUESTOLLTOLL INCREASESTOLL MOTORWAYSTOLL REVENUESTOLL ROADTOLL ROADSTOLL SCHEDULETOLLSTRAFFICTRAFFIC GROWTHTRANSFER RISKSTRANSPORTTRANSPORT INFRASTRUCTURETRANSPORT INVESTMENTSTRANSPORT POLICYTRANSPORTATION AUTHORITYTRANSPORTATION PROJECTSTRANSPORTATION RESEARCHTRUETUNNELSURBAN HIGHWAYSURBAN LIFEURBAN PLANNERSURBAN ROADURBAN ROAD CAPACITYURBAN ROAD CAPACITY POLICYUSER CHARGESVALUATIONVEHICLEVEHICLE TRIPS10.1596/17595