{"title":"Evaluation of public private partnerships in highways","authors":"","doi":"10.1016/j.evalprogplan.2024.102490","DOIUrl":null,"url":null,"abstract":"<div><p>This paper reviews and evaluates four U.S. P3 toll highways, identifying their performance and common challenges. Contrary to the conventional wisdom that federal and state governments should fund highways, this paper argues that users should bear the cost for both efficiency and equity considerations. The shift from government investment and operation of highways to Public-Private Partnerships (P3) was driven by the lack of public funding, more productive competitive business practices, and the government's desire for upfront payments to fund other unrelated public projects. However, these justifiable public benefits were accompanied by significant problems. Highways were often leased for 35 to 75 years, depending on the total equity and loans of the private partner and various risk factors.</p></div>","PeriodicalId":48046,"journal":{"name":"Evaluation and Program Planning","volume":null,"pages":null},"PeriodicalIF":1.5000,"publicationDate":"2024-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Evaluation and Program Planning","FirstCategoryId":"90","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0149718924000922","RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"SOCIAL SCIENCES, INTERDISCIPLINARY","Score":null,"Total":0}
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Abstract
This paper reviews and evaluates four U.S. P3 toll highways, identifying their performance and common challenges. Contrary to the conventional wisdom that federal and state governments should fund highways, this paper argues that users should bear the cost for both efficiency and equity considerations. The shift from government investment and operation of highways to Public-Private Partnerships (P3) was driven by the lack of public funding, more productive competitive business practices, and the government's desire for upfront payments to fund other unrelated public projects. However, these justifiable public benefits were accompanied by significant problems. Highways were often leased for 35 to 75 years, depending on the total equity and loans of the private partner and various risk factors.
期刊介绍：
Evaluation and Program Planning is based on the principle that the techniques and methods of evaluation and planning transcend the boundaries of specific fields and that relevant contributions to these areas come from people representing many different positions, intellectual traditions, and interests. In order to further the development of evaluation and planning, we publish articles from the private and public sectors in a wide range of areas: organizational development and behavior, training, planning, human resource development, health and mental, social services, mental retardation, corrections, substance abuse, and education.
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