Journal articles: 'Highway Financing'

1

Fayard, Alain, and Franck Bousquet. "Pragmatic Approach to Finance Infrastructure: Analysis of French Experience with Highway Concessions." Transportation Research Record: Journal of the Transportation Research Board 1649, no. 1 (January 1998): 9–16. http://dx.doi.org/10.3141/1649-02.

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Governments around the world are showing increasing interest in concessions or build-operate-transfer mechanisms in the highway sector. One or two decades ago, economic theory held that private funding was the most promising method for financing infrastructure development. Unfortunately, a significant number of privately financed projects are showing signs of difficulties (e.g., the Franco-British Channel Tunnel, the Dulles Greenway in Virginia, the second stage Bangkok Expressway in Thailand, the Guanzhour-Shenzen Highway in China, the delayed Birmingham Northern Relief Road in the United Kingdom, and the M1 and M3 Highways in Hungary). Emphasis has always been put on the financial aspect, leaving out the organizational one. A new basis for infrastructure finance is presented, analyzing the mistakes and successes of French experience in highway concession for more than 40 years. This experience is of interest since France has experimented with both toll and nontoll financing as well as with publicly and privately owned toll roads in building its system of highways. The main steps of the construction of the French highway network through concessions are traced and the lessons learned from this experience indicated, focusing on key elements, the advantages and drawbacks of a concession system, and the exact nature of the state’s role in concessioning. This information can serve as potential recommendations for other countries opting for concession systems.

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Xie, Xiao Ru. "The Study on Maintenance Mechanism of Rural Highway in China." Advanced Materials Research 403-408 (November 2011): 2915–18. http://dx.doi.org/10.4028/www.scientific.net/amr.403-408.2915.

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With the mature development of trunk roads and national highways, China diverts her attention to rural highways' development in the face of issues concerning agriculture, rural areas and farmers. Rural highways make great contribution to the development of rural economy and will resolve issues adequately. So rural highway should receive close attention. But there is no answer from experience in maintenance field, the maintenance mechanism is unscientific, and its management is confused. If we can't change this situation properly, it will largely affect the maintenance quality of rural highway and be an obstacle to the travel of farmers and the circulation of agricultural goods. So we take Wuhan rural highway for example to settle the potential problems. In order to get the experience and revelation, first, I make it clear about the concept of rural highway and analyze the maintenance situations of Wuhan, the capital of Hubei province in China; Second, I’d like to point out the problems in the maintenance mechanism of Wuhan rural highway; Then, I give countmeasures to maintenance mechanism of Wuhan rural highway from the financing channels and maintenance model. The financing channels to get adequate funds and maintenance model fully exerting its economic factions will directly affect the quality of rural highway and even the development of national economy. The abundant fluent funds supply chains and the optimization of maintenance model are the guarantee of safety and efficiency of rural highway, directly affect the trips of farmers and the circulation of agricultural goods, promote the development of integration of urban and rural economies and help construct a harmonious society.

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Ryckewaert, Michael. "Building a Hybrid Highway System." Transfers 2, no. 1 (March 1, 2012): 59–86. http://dx.doi.org/10.3167/trans.2012.020106.

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This paper investigates the conception and construction of the Belgian highway network since 1945. It focuses on the formative decades of the 1950s and 1960s, when the network was designed and an important financing mechanism established (the 1955 Road Fund). A distinguishing characteristic in the construction of the network is the use of highways as a vector of urbanization for economic development purposes. Combining long-distance traffic with local access to adjoining services, these highways fulfill a twofold role defined at the conception of the network in 1951. Incorporating ring roads, expressways, regional highways, and a high density of exits into a transnational system, the Belgian network is a "hybrid" highway system.

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Vaccari, Michael A. "Overview of Innovative Financing: Highway and Transit." Transportation Research Record: Journal of the Transportation Research Board 1527, no. 1 (January 1996): 31–34. http://dx.doi.org/10.1177/0361198196152700103.

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An overview of innovative finance activity in highway and transit programs is presented. It is hoped that readers are given enough information to assess the usefulness of a particular financing device for their agencies. The financings are grouped into five categories: lease-structured financings; structures that achieve more with less money; cross-border leases; derivatives; and miscellaneous. Each of the financings is assessed to determine which of FTA's goals for innovative financing are achieved, that is, whether the financing reduced the costs of capital projects or provided better management of cash flow.

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Poole, Robert W. "Private Toll Roads: Changing the Highway Paradigm." Public Works Management & Policy 3, no. 1 (July 1998): 3–9. http://dx.doi.org/10.1177/1087724x9800300101.

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Privatization approaches hold great promise for improving the performance of the U.S. highway system. But dramatic results akin to those being achieved overseas via private toll road concessions will depend critically on supportive public policy. Other countries have adopted the private concession model as a matter of national policy, applying it not merely to a few speculative new roads but to major modernization of existing highways and expressways. To realize the potential that the private sector has to offer, we need new highway policies that would create a level financial playing field between the public and private sectors, share start-up risks and costs between the public and private sectors, and remove restrictions (such as the ban on interstate tolls). The transportation community must also educate policy makers and opinion leaders on the case for tolls as both a financing vehicle and a highway management tool.

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Varma, Amiy, and Kumares C. Sinha. "On user charges for highway financing." Transportation Research Part A: General 24, no. 4 (July 1990): 293–302. http://dx.doi.org/10.1016/0191-2607(90)90006-r.

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7

Edwards, David John, De-Graft Owusu-Manu, Bernard Baiden, Edward Badu, and Peter Edward Love. "Financial distress and highway infrastructure delays." Journal of Engineering, Design and Technology 15, no. 1 (February 6, 2017): 118–32. http://dx.doi.org/10.1108/jedt-02-2016-0006.

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Purpose In developing countries, delays in highway infrastructure projects caused by financial distress-related factors threaten the construction industry’s capacity to contribute optimally to economic development. Against this backdrop, this paper aims to determine factors contributing to financial distress and develops a conceptual framework to illustrate the relationship between financial distress and project delay. Design/methodology/approach A questionnaire survey collected data on factors that contributed to financial distress and delays in highway infrastructure delivery. In total, 78 responses were obtained, and factor analysis revealed that factors associated with payment, project financing, cash flow, economic issues, project planning and cost control influenced project delays. Findings The research identifies the importance of efficient public and private policies to engender financial sustainability among construction firms in developing countries. Originality/value This work presents the first research of its kind and strives to engender wider academic debate and renewed economic development in some of the world’s most impoverished nations.

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Walzer, Norman, Lori A. Sutton, and Steven C. Deller. "The Status and Financing of Off-System Bridges." Public Works Management & Policy 3, no. 1 (July 1998): 10–26. http://dx.doi.org/10.1177/1087724x9800300102.

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The network of off-system bridges supporting the rural economy has been a concern for a long time. Federal Highway Administration data show that 31.4% of the bridges off the federal aid system qualify for replacement and/or rehabilitation funds, the worst category under the federal bridge program. Although there is some evidence that the quality of these bridges has marginally improved in recent years, the sheer number of deficient bridges in rural areas necessitates major expenses for rural local governments in the future. Study results suggest, however, that local highway officials expect to be able to spend far less than what they believe the system requires. The outcome is that part of the transportation backbone of the rural economy is at risk, and additional sources of revenue and/or alternative means for reinvesting in the bridge network are needed.

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Wang, Yin, and Zhirong Jerry Zhao. "Evaluating the Effectiveness of Public–Private Partnerships in Highway Development: The Case of Virginia." Transportation Research Record: Journal of the Transportation Research Board 2672, no. 4 (October 30, 2018): 43–53. http://dx.doi.org/10.1177/0361198118791629.

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Given the current momentum for public–private partnerships (PPPs), it is critical to review the experiences of PPP highway projects to see whether they succeed in serving public benefits. This article applies a goal-centered approach to evaluate the effectiveness of nine PPP highway projects in the Commonwealth of Virginia, U.S.A., that were implemented and opened to traffic between 1990 and 2016. Virginia has used highway PPPs more for financing or risk reduction than for efficiency gains. The authors examine four elements of contract agreements—PPP type, private partner selection, financial arrangements, and risk allocation—in these Virginian projects, and find that these arrangements have been effective in accessing innovative finance and preventing cost overrun, while the evidence is limited regarding shifting revenue risk or achieving efficiency gains.

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Lin, Kun-Chin. "The Politics of Financing the Highway Boom in China." Asian Survey 58, no. 3 (May 2018): 511–34. http://dx.doi.org/10.1525/as.2018.58.3.511.

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Fiscal federalism has provided the institutional basis for the rapid highway boom in China for three decades, creating a close linkage between subnational investment and revenue claims on tolled roads. This model of capitalization is financially unsustainable and undermines the standardization of taxation and contracting of public–private partnership projects.

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Oh, JungEun Jen, and Kumares C. Sinha. "Self-Financing and Distance-Based Highway Pricing Scheme: State Highway System Perspective." Journal of Infrastructure Systems 17, no. 3 (September 2011): 95–106. http://dx.doi.org/10.1061/(asce)is.1943-555x.0000050.

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12

Ryu, Jay Eungha. "Fiscal Impacts of an Innovative Highway Financing Alternative on State Highway Expenditures." Public Works Management & Policy 11, no. 1 (July 2006): 33–48. http://dx.doi.org/10.1177/1087724x06290777.

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Gravier, Michael J., and M. Theodore Farris. "Financing America’s roads: The past is prologue." Journal of Transportation Management 16, no. 1 (April 1, 2005): 1–14. http://dx.doi.org/10.22237/jotm/1112313720.

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This article provides a historical perspective of American roadway financing. It explores revenue collection and expenditures at the federal, state, and local governmental levels. Accounting practices of the Highway Trust Fund are discussed including the enactment of the Truth in Budgeting Act to shift revenue collection closer to a direct-user tax. Factors affecting roadway tax revenues are identified and the impact of increasing taxes is discussed. Four key considerations which will continue to shape roadway revenue collection are identified.

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Oh, Jung Eun, Samuel Labi, and Kumares C. Sinha. "Implementation and Evaluation of Self-Financing Highway Pricing Schemes." Transportation Research Record: Journal of the Transportation Research Board 1996, no. 1 (January 2007): 25–33. http://dx.doi.org/10.3141/1996-04.

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15

Salunke, Prof K. A., S. S. Pulate, S. V. Shinde, A. V. Waghchaure, and Y. S. Shankhpal. "Case Study on National Highway Construction Using Bot." International Journal for Research in Applied Science and Engineering Technology 10, no. 5 (May 31, 2022): 3421–25. http://dx.doi.org/10.22214/ijraset.2022.43161.

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Abstract: The public-private partnership (PPP) models that have been used in procuring the National Highways projects include Build- Operate-Transfer (BOT) (Toll) and BOT (Annuity) models.... This paper focuses on the various approaches that have been used for financing of PPP road projects in India. To assess the risks involved in BOT PROJECT by studying a specific case of Implementation of integrated road development program me (IRDP) in the city on built, operate & transport (BOT) basis. To Study the individualistic approach of the involved parties. BOT has been one of the recent innovations in project finance. The Build-Operate Transfer (BOT) scheme is a limited recourse financing technique. Many have adopted this approach as an alternative to traditional public financing for infrastructure development projects. This study examines the type of SOCIAL risk due to, force shutdown of toll booths due to public riots. This paper mainly representing the risk in BOT due to political & public pressure. A case study of IRDP project implemented in municipal corporation area through BOT is studied in details. Keywords: BOT, Public private partnership, lumpsum, concessionaire's

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16

Bråthen, Svein. "Financing and Regulating Highway Construction in Scandinavia – Experiences and Perspectives." Research in Transportation Economics 15 (January 2005): 175–86. http://dx.doi.org/10.1016/s0739-8859(05)15014-8.

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17

Smith, Frank J. "Innovative Financing Approach for President George Bush Turnpike." Transportation Research Record: Journal of the Transportation Research Board 1576, no. 1 (January 1997): 63–66. http://dx.doi.org/10.3141/1576-08.

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An innovative financing program for a toll project in Texas that has been financed and will be constructed by a joint-venture team composed of the Texas Department of Transportation (TxDOT) and the Texas Turnpike Authority (TTA) is described. The President George Bush Turnpike (State Highway 190) will connect 42.5 km (26.4 mi) of suburbs north of the city of Dallas. The project has been in various stages of planning and design since the late 1960s. Each agency working alone could not complete SH-190 in a timely and cost-effective fashion. Exploiting changes made to the state constitution in 1991 and maximizing the use of the innovative financing provision of the Intermodal Surface Transportation Efficiency Act, TxDOT, TTA, and FHWA in partnership developed a financing structure to accelerate the construction of this project.

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Zhang, Yuqing, Wenhua Hou, and Yan Qian. "A DYNAMIC SIMULATION MODEL FOR FINANCING STRATEGY MANAGEMENT OF INFRASTRUCTURE PPP PROJECTS." International Journal of Strategic Property Management 24, no. 6 (December 3, 2020): 441–55. http://dx.doi.org/10.3846/ijspm.2020.13627.

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Strategic management is vital for significant infrastructure public-private partnership (PPP) projects characterised by a heavy and irreversible investment over a long period. In PPP projects, the financing strategy relates to the capital structure of the project and the coordination of the participants’ requirements. In this paper, a system dynamics (SD) model is described to analyse the impacts of two types of financing strategies on the needs of creditors, the government, and private investors, considering the dynamic and complex characteristics of infrastructure PPP projects. The proposed model has been implemented on a PPP highway project. A number of experiments were conducted over a 33-year strategic planning horizon as a means of assessing the long-term effects of different financing strategies. The experimental results reveal that the model is a useful tool that could support decision-makers in identifying the intervals with different management focus of financing risk and comparing different financing strategies to choose the optimal one. It is especially helpful for the government to select a financing strategy for infrastructure PPP projects with capital limitations.

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Mostafavi, Ali, Dulcy Abraham, and Joseph Sinfield. "Innovation in Infrastructure Project Finance: A Typology for Conceptualization." International Journal of Innovation Science 6, no. 3 (September 1, 2014): 127–44. http://dx.doi.org/10.1260/1757-2223.6.3.127.

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Due to the growing demand for civil infrastructure, financial innovations are required to close the financing gap. However, a lack of theories has inhibited a complete understanding and, thus, creation and diffusion of financial innovation. A lack of theory about financial innovations in infrastructure is mainly due to the absence of a framework to conceptualize these innovations. A typology that enables comparison of financial systems and, hence, provide a framework to conceptualize financial innovations is missing in the existing literature. This paper defines innovation in the context of financing, funding and delivery of infrastructure projects and proposes a new typology for conceptualization of the loci and types of financial innovations in infrastructure. The loci of innovations are in risk mitigation, regulation, cash flow, contract, organizational, and capital sub-systems. Types of innovations are classified as either integrated or modular and either sustaining or disruptive. The typology was tested by mapping seven innovations created by the U. S. Federal Highway Administration and diffused into 232 transportation projects between 1994 and 2002. Qualitative comparative analysis was then used to evaluate the diffusion trends of financial innovations in the case studies and to demonstrate the capability of the proposed typology for facilitating theory building in the area of infrastructure financial innovations.

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Beshers, Eric, Brian Hayduk, and Robert B. Noland. "Devolution of Surface Transportation: Preliminary Assessment of Revenue and Financial Aspects." Transportation Research Record: Journal of the Transportation Research Board 1649, no. 1 (January 1998): 26–36. http://dx.doi.org/10.3141/1649-04.

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Recently, the topic of devolution of the federal role in surface transportation has been actively discussed. The impact on state finances, however, has not yet been analyzed. The way in which a reduction in federal transportation funding (as envisioned by legislation recently proposed by Rep. John Kasich and Sen. Connie Mack) would affect state financing is examined in this paper. This is combined with an assessment of states’ need for financing and their ability to make up any funding shortfalls. The results of this analysis indicate that, although most states would require smaller increases in their fuel taxes than the drop in federal taxes, many would have difficulty making up this shortfall. Many of these same states also have a great need to maintain their transportation infrastructure. Even if the specific issues were to change were devolution imminent, this research provides a useful analysis of the financial issues. A brief discussion of the possible environmental effects of devolution and reduced highway spending is included.

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Ramísio, Paulo, Diogo Arezes, and Lígia M. Costa Pinto. "A co-financing model for the mitigation of highway runoff pollution." Journal of Environmental Management 289 (July 2021): 112432. http://dx.doi.org/10.1016/j.jenvman.2021.112432.

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Vassallo, José M., and Antonio Sánchez-Soliño. "Subordinated Public Participation Loans for Financing Toll Highway Concessions in Spain." Transportation Research Record: Journal of the Transportation Research Board 1996, no. 1 (January 2007): 1–8. http://dx.doi.org/10.3141/1996-01.

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Anjomani, Ardeshir. "Developing and financing housing and highway systems: Lessons from U.S. experience." Studies In Comparative International Development 28, no. 4 (December 1994): 50–61. http://dx.doi.org/10.1007/bf02687127.

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Chen, Yun, and Jin Bao Zhai. "Grey-Fuzzy Comprehensive Judgment of the Debt Risk of Highway Project." Applied Mechanics and Materials 44-47 (December 2010): 3453–58. http://dx.doi.org/10.4028/www.scientific.net/amm.44-47.3453.

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Considering the characteristics of fuzziness, gray and dynamic of the debt risks in highway project, build a method of grey fuzzy comprehensive evaluation. According to the characteristics of project on financing for development and operational, establish the corresponding debt risk subsets. It not only can evaluation the risk of different stages, also can comprehensive evaluation the risk of the whole project, so that the investors can according to the evaluation value of general risk and each stage to targeted for prevention and control.

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Zheng, Chuanjun, Jingfeng Yuan, Lingzhi Li, and Mirosław J. Skibniewski. "Process-Based Identification of Critical Factors for Residual Value Risk in China's Highway PPP Projects." Advances in Civil Engineering 2019 (May 9, 2019): 1–21. http://dx.doi.org/10.1155/2019/5958904.

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Although the Chinese government at all levels has increasingly embraced Public-Private Partnership (PPP) as their preferred approach to deliver large-scale infrastructure since 2014, residual value risk (RVR) has been ignored in PPP practice. To systematically explore the critical risk factors (CRFs) responsible for measuring RVR in highway PPP projects, this paper proposes and refines a conceptual model composed of two risk dimensions (four risk categories) and 29 indicators through process-based viewpoint. Through literature review and expert interview, a structured questionnaire was developed to collect responses with rich working experience in construction industry or highway PPP projects. The refined measurement model with 21 CRFs was validated through mean value analysis (MVA) and confirmatory factor analysis (CFA) performed by SPSS 23.0 and AMOS 23.0, respectively. The findings indicate that 21 CRFs are significant in influencing RVR of highway PPP projects. Moreover, RVR from system dimension is mainly concentrating on institutional environment, macroeconomy, and relationship aspects, whereas financing in preconstruction, quality in construction, and market demand in operation are the most significant CRFs in nonsystem dimension. Furthermore, there is an accumulative exposure of RVR during the project process, especially in preconstruction and operation. This paper sheds light on the significance of lifecycle management on RVR and provides a practical approach for measuring RVR and implementing sustainable practice in highway or other transportation PPP projects.

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Mehta, Bhoomi Ruchit. "Sunshine Fastech Pvt. Ltd.: working capital financing decision." Emerald Emerging Markets Case Studies 10, no. 2 (April 30, 2020): 1–37. http://dx.doi.org/10.1108/eemcs-10-2019-0273.

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Learning outcomes The learning outcomes of this paper is to understand the working capital finances offered by bank; comprehend application by the company, loan proposal and bank procedure for additional finance; compute, analyze and interpret financial statements of company and its peers; and assess various factors to be considered while taking loan sanctioning decisions. Case overview/synopsis Sunshine had expanded its business by starting in-house manufacturing of a few stages of production of fasteners. Sunshine was in urgent need of additional finance for working capital and had applied to Rajya Bank of India Ltd. (RBIL), requesting to enhance working capital finance limits and other changes. Ruchit Mehta, Relationship Manager of S.G. Highway Branch of RBIL have to assess this request and include his evaluations in the proposal, which he had to present to Assistant General Manager of RBIL. Complexity academic level MBA or related program in finance courses such as financial management, corporate finance, financial statement analysis, bank management/finance and training program on “credit management” for bank employees. Supplementary materials Teaching Notes are available for educators only. Subject code CSS 1: Accounting and Finance

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Andoh, Charles, Ebenezer Mills, and Daniel Quaye. "Public Private Partnership as an Alternative Source of Financing Highway in Ghana." Annals of Management Science 1, no. 1 (2012): 61–82. http://dx.doi.org/10.24048/ams1.no1.2012-61.

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Tharmakulasingham, Kopikah, and H. R. Pasindu. "Development of a Framework for Identifying Highway Projects for Private-Public-Partnership Financing." Engineer: Journal of the Institution of Engineers, Sri Lanka 54 (September 3, 2021): 49. http://dx.doi.org/10.4038/engineer.v54i0.7452.

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Ashuri, Baabak, and Kia Mostaan. "State of Private Financing in Development of Highway Projects in the United States." Journal of Management in Engineering 31, no. 6 (November 2015): 04015002. http://dx.doi.org/10.1061/(asce)me.1943-5479.0000362.

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Mostafavi, Ali, Dulcy Abraham, Daniel DeLaurentis, Joseph Sinfield, Amr Kandil, and Cesar Queiroz. "Agent-Based Simulation Model for Assessment of Financing Scenarios in Highway Transportation Infrastructure Systems." Journal of Computing in Civil Engineering 30, no. 2 (March 2016): 04015012. http://dx.doi.org/10.1061/(asce)cp.1943-5487.0000482.

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Khmel, Vialeta, and Shengchuan Zhao. "Arrangement of financing for highway infrastructure projects under the conditions of Public–Private Partnership." IATSS Research 39, no. 2 (March 2016): 138–45. http://dx.doi.org/10.1016/j.iatssr.2015.05.002.

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Sharma, Gagan, Harivansh Kumar Chaudhary, and Akash Malik. "Estimation of Fatigue and Rutting Life Using Falling Weight Deflectometer of Flexible Pavement Road in Hilly Terrain." International Journal for Research in Applied Science and Engineering Technology 10, no. 10 (October 31, 2022): 160–67. http://dx.doi.org/10.22214/ijraset.2022.46968.

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Abstract: Establishing the qualities of the pavement material and its structural capability is the most important step in establishing effective pavement maintenance and management techniques. This can be done by looking at how the pavement reacts to the applied load. The Falling Weight Deflectometer (FWD) is used in this study to assess the performance of a road stretch of the Federal Route in the State of Uttarakhand by measuring deflection in response to the weight applied at various sites along the highway. FWD is used to assess the pavement's response to a static load. Using the obtained deflection data, the KGPBACK is used to back-calculate the simulated layers of the pavement. Data is gathered then integrated into the IITPAVE software to create a pavement overlaying design. Flexible pavement is modelled as an elastic multilayer structure to see how bituminous overlay maintenance affected the distress models, and all 4 distress (cracking, rutting, rut depth, and roughness) are shown to be reduced. As a result, the research article provides a methodology that administrators can use to anticipate when and how much financing is needed to preserve and maintain the Indian Highway Road network.

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Nagrebelna, Liydmila. "LINEAR ANALYSIS AS THE BEST METHOD OF DETECTION DANGEROUS ROAD SECTIONS." Avtoshliakhovyk Ukrayiny, no. 2 (258) ’ 2019 (June 27, 2019): 50–56. http://dx.doi.org/10.33868/0365-8392-2019-2-258-50-56.

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The main factors affecting road safety are outlined. The main methods of road accident analysis are presented, which will allow accurate determination of areas of high danger. By distributing road traffic accidents along the length of the road, it is possible to identify such areas and areas where road conditions have a dominant influence on the emergence of accidents, which is important in planning measures to improve traffic safety. It is proved that the effectiveness of the result depends on the precisely defined areas where first of all it is necessary to implement measures to improve road safety. It is completely impossible to predict the occurrence of traffic accidents because many different factors influence them. These factors relate both to traffic conditions on the motorway and to the impact of the traffic flow itself, a separate vehicle, a human factor, weather conditions etc. Therefore, there is a need for a comprehensive approach in solving a complex problem is increasing road safety. The purpose of this article is to: reduce the number of accidents and their victims on the highways of Ukraine by means of the priority implementation of measures to improve road conditions and improve the organization of traffic on highway sections of high danger identified by the results of linear analysis of accidents. Linear accident analysis provides an opportunity not only to effectively and reasonably plan events, but also to evaluate the outcome of their implementation. Reducing the number of traffic accidents and their victims in highway sections of high danger identified by the results of linear accident analysis is the best method for creating safe traffic conditions. Purposeful financing of measures aimed primarily at eliminating the most dangerous in terms of accident rate of road sections and the main risk factors of an accident will allow to reduce the number of accidents and the severity of their consequences. Keywords: road safety, linear analysis, methods of analysis.

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Denehy, Edward J. "Implementing New York State Department of Transportation’s Pavement Preventive Maintenance Program." Transportation Research Record: Journal of the Transportation Research Board 1597, no. 1 (January 1997): 11–15. http://dx.doi.org/10.3141/1597-02.

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The New York State Department of Transportation developed and implemented an aggressive pavement preventive maintenance program in the early 1990s. The program was initiated in a bottom-up approach based on an informal pavement preventive maintenance program used for 20 years by field personnel. Upper-level managers were convinced of the efficacy of the preventive maintenance strategy, and executive management adopted such a program. Executive management included a preventive maintenance strategy in the Long-Term Financing Plan that became the Dedicated Highway and Bridge Trust Fund of 1991. The program succeeded in NYSDOT’s decentralized environment because of the inclusion of field-level personnel in its development. The treatment cycles of the pavement preventive maintenance program are described as are the newly developed contracting tools. The first two successful years of the program are highlighted. Various threats to the program, such as reduced funding due to the scarcity of budget resources, no. funding for several months in the construction season due to budget delay, inappropriate use and over-application of treatments, and internal competition for limited resources from other program areas, are discussed. Other highway agencies intending to implement a pavement preventive maintenance program may benefit from the experience described in New York.

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Loong, Charis, Dea van Lierop, and Ahmed El-Geneidy. "The Path of Least Resistance: Identifying Supporters of Public and Active Transportation Projects." Transportation Research Record: Journal of the Transportation Research Board 2666, no. 1 (January 2017): 94–102. http://dx.doi.org/10.3141/2666-11.

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The financing and implementation of transportation projects are more likely to be successful with the support of local communities. Hence, for cities and transportation agencies to develop strategies that will improve public acceptability and reduce resistance to funding transportation projects, it is important to understand differences in the levels of local support. This study used a factor-cluster analysis to segment a university population, to understand current levels of support toward transportation investments, and seek out important allies to endorse public and active transportation projects. The results of the study reveal five clusters of individuals with varying opinions toward transportation investments and distinct motivations. Strong advocates are the greatest allies for promoting public and active transportation investments. They support financing public and active transportation projects, and are well positioned to endorse the necessity and advantages of such investments. Highway and transit funders are motivated by their dissatisfaction with the current transportation system. Cycling advocates are valuable in publicizing the benefits of expanding the bicycle network. Infrequent commuters do not travel to the university as often as the other groups, and are supportive of transportation investments in general. Despite the overall positive opinion toward investing in public and active transportation projects, there is a minority of funding opponents who are generally against financing transportation projects. The results of this study will be helpful for policy makers intending to communicate the benefits of transportation projects to various community groups.

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Garrido, Laura, and José Manuel Vassallo. "Is Ex-Post Fiscal Support to PPPs Sustainable? Analysis of Government Loans Granted to Shadow-Toll Roads in Spain: A Case Study." Sustainability 13, no. 1 (December 28, 2020): 219. http://dx.doi.org/10.3390/su13010219.

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Budgetary constraints are prompting many governments to encourage private financing of transport infrastructure through public–private partnerships (PPPs). Fiscal support measures are often used to improve the financial feasibility of PPPs and to rebalance the economics of contracts to compensate for government-imposed changes. In the latter case, information asymmetry, political haste, and lack of competition may lead to poor government decisions in establishing support measures. Furthermore, lack of government support may lead to early termination of contracts and non-implementation of projects with high potential social benefits. This paper analyzes the awarding of subordinated public participation loans (SPPLs) to 10 brownfield shadow-toll highway PPPs in Spain after the government imposed additional works. It is hypothesized that, given the political importance of the projects and the viability problems they soon experienced, the government may not have set out the terms of SPPLs efficiently. This paper evaluates the financial and social impacts of awarding these loans to three of these projects to assess whether the government’s decision to support them was justified from a sustainable perspective. The results show that, while the government’s decision was reasonable, the design of the SPPL and its awarding conditions should be improved to ensure the public interest.

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Sinha, Akanksha, Kelly C. Strong, Mehmet E. Ozbek, and Jennifer Shane. "A Decision Support Framework for Assessing the Contextual Factors for Complex Highway Projects." Transportation Research Record: Journal of the Transportation Research Board 2672, no. 26 (May 23, 2018): 77–87. http://dx.doi.org/10.1177/0361198118774162.

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Traditional strategies for highway projects during the 1950s and 1960s focused on three dimensions of project management: cost, schedule, and technical (scope). Recently, with the focus shifting towards reconstruction/rehabilitation projects, project management strategies have shifted to include other project management dimensions. The Second Strategic Highway Research Program (SHRP2) project R-10 examined the best practices for managing complex renewal projects. The primary outcome of the study was a recommendation to utilize a five-dimensional project management planning (5DPM) model that added context and financing as two new dimensions to the traditional dimensions of cost, schedule, and technical. Pilot testing of the 5DPM implementation suggested that the most complicated dimension to assess during the project management planning phase for a complex project is the context dimension. Currently there is no efficient, structured process for evaluating the context dimension on complex projects within the 5DPM framework. Given this, the objective of this study is to develop a decision support framework which can be used by different transportation agencies when assessing contextual factors and assigning complexity rating scores. The framework uses a structured analytical process as opposed to the more subjective scoring used during the 5DPM workshops. As a major part of its methodology, this research uses a multiple-criteria decision-making tool called analytical hierarchy process in developing the framework. The paper presents two implementation examples which demonstrate the feasibility of the developed framework for a rebuild project and an expansion project.

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Downing, Donna, and Robert B. Noland. "Environmental Consequences of Reducing the Federal Role in Transportation: Legal Framework." Transportation Research Record: Journal of the Transportation Research Board 1626, no. 1 (January 1998): 3–10. http://dx.doi.org/10.3141/1626-01.

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The Intermodal Surface Transportation Efficiency Act (ISTEA) currently provides transportation grants to states financed by the Highway and Mass Transit Trust Funds and establishes a variety of requirements that seek to make environment a key factor in transportation planning and implementation. Devolution of the federal role would make states responsible for financing highway and transit improvements and for making related policy and program decisions. Although ISTEA is not primarily an environmental law, it contains numerous provisions that take into account the environmental implications of authorized activities. In addition, federal funding can trigger requirements for “major investment study” and National Environmental Policy Act (NEPA) processes that consider environmental impacts of proposed projects and allow for public comment. Devolution could affect the number of transportation projects subject to such scrutiny, where federal funding is the sole element that “federalizes” a project enough to make major investment study or NEPA requirements apply. And, although many other federal and state laws provide environmental protection, they typically do not focus on achieving an environmentally friendly transportation system. The impacts that devolution could have on environmental protection are explored here. The environmental provisions currently in ISTEA are reviewed and the potential role of NEPA and the Unfunded Mandates Reform Act in a devolution environment is identified. Other federal or state laws that may be available to “stand in” for environmental provisions eliminated or weakened by devolution are explored, and the potential environmental impacts of a reduced federal role in transportation oversight are discussed.

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Kirova, Antoaneta. "DEVELOPMENTS, OPPORTUNITIES AND THREATS OF THE ONE BELT, ONE ROAD INITIATIVE." Economic Thought journal 67, no. 3 (July 28, 2022): 327–53. http://dx.doi.org/10.56497/etj2267304.

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The One Belt, One Road Initiative (OBOR/BRI) is a global programme to finance transport (rail and highway) and energy infrastructure, mainly in Central Asian countries, in the form of cash loans provided on unfavourable (market) terms compared to financing from donors in Western Europe (including the EU) or from development banks. The present study is an attempt to summarize the achievements and problems in the implementation of this initiative. The aim is to show the possible opportunities for Bulgaria to join the BRI given the complex political-economic global environment, marked by the difficulties in overcoming the Kovid-19 pandemic and the consequences of the war between Russia and Ukraine. Our main interest is focused on the inclusion of the territory of our country in the launched international transport corridors and the possibility of their continuation within this initiative.

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Makurin, Andrei Igorevich, and Ira Andrisovna Ulianova. "On the eve of the era of "highways": on the History of Federal Highway Construction in the USA." Genesis: исторические исследования, no. 3 (March 2022): 32–43. http://dx.doi.org/10.25136/2409-868x.2022.3.35423.

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The object of the study is the history of the formation of the federal highway construction system in the United States before the First World War. The subject of the study is the economic, social and political prerequisites for the emergence of the idea of federal financing of road construction. The article examines the socio-political struggle that unfolded in American society at the beginning of the XX century on the need for federal participation in the creation of a highway network. The most important link in the Government's road policy was the creation of a system of federal agencies dealing with road construction problems. The study of this issue allows us to trace the evolution of the approaches of the public and politicians in solving the problem of the separation of powers of the states and the federal government in the field of road construction. The scientific novelty of the study lies in the fact that the issue of federal funding is considered in the context of traditional discussions about the separation of powers of the states and the federal government, as well as the problems of strategic planning. The authors' attention is focused on the fact that previously the allocation of money for the construction of roads from federal funds was considered an unacceptable measure that violates the constitutional autonomy of the states. But strategic problems demanded a new look at this feature of the US state structure. The results of the study allow us to conclude that the Federal Road Assistance Act of 1916 meant recognition of the need for federal regulation of road construction and became an important precedent that opened up the possibility of creating a nationwide road network in the future.

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Jarašūniene, Aldona. "ANALYSIS OF POSSIBILITIES AND PROPOSALS OF INTELLIGENT TRANSPORT SYSTEM (ITS) IMPLEMENTATION IN LITHUANIA." TRANSPORT 21, no. 4 (December 31, 2006): 245–51. http://dx.doi.org/10.3846/16484142.2006.9638074.

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ITS covers all modes of and considers all elements of the transportation system - the vehicle, the infrastructure, and the driver or user, interacting together dynamically. Information is at the core of ITS whether it is static or real‐time traffic data or a digital map. Many ITS tools are based on the collection, processing, integration and supply of information. Data generated by ITS may provide real‐time information about current conditions on a network, or on‐line information for journey planning, enabling highway authorities and agencies, road operators, public and commercial transport providers and individual travellers to make better informed, safer, more coordinated and more ‘intelligent’ decisions or ‘smarter’ use of networks. There are studies showing estimation of ITS implementation in foreign countries and in Lithuania, ITS vision, the conclusions of SWOT analysis, possible technical solutions of ITS deployment, ITS planning and financing and measures of ITS deployment in Lithuania.

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Vassallo, José M., and Juan Gallego. "Risk Sharing in the New Public Works Concession Law in Spain." Transportation Research Record: Journal of the Transportation Research Board 1932, no. 1 (January 2005): 1–8. http://dx.doi.org/10.1177/0361198105193200101.

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Budgetary constraints are forcing transport infrastructure authorities to raise private funds to finance the construction of new projects and the maintenance of existing ones by using concession contracts. One of the key elements in correctly defining a concession scheme is to establish an adequate risk-sharing mechanism among the stakeholders that take part in the process. This paper describes and analyzes the effect of the new Spanish Concession Law on risk sharing, in particular, the effect of the so-called progress clause on the calculation of risk held by the concessionaire. This law was designed both to reinforce private financing of public facilities and to improve the legal framework by defining a new risk-sharing approach, particularly in relation to the risks involved in estimating traffic demand. The paper finishes with an analysis of a specific application of the traffic risk-sharing approach for highway concessions in Spain.

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Игошин, Сергей Сергеевич. "CREATION FEATURES OF TOLL ROADS IN RUSSIA." Вестник Тверского государственного университета. Серия: Экономика и управление, no. 3(55) (September 27, 2021): 218–23. http://dx.doi.org/10.26456/2219-1453/2021.3.218-223.

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В статье рассмотрено развитие платных автомобильных дорог в России. Целью статьи является освещение особенностей, возникающих при создании платных автомобильных дорог. Особое внимание уделяется рискам реализации автодорожных инвестиционных проектов, в том числе строительным, экологическим рискам и рискам финансирования. Научная новизна состоит в оценке целесообразности строительства платных автомобильных дорог в Российской Федерации. В качестве объекта исследования рассматривается планируемое строительство новой крупной автомобильной дороги М-12 «Москва - Нижний Новгород - Казань». The article considers the development of toll roads in Russia. The purpose of the article is to highlight the features that arise when creating toll roads. Special attention is paid to the risks of implementing road investment projects, including construction, environmental risks and financing risks. The scientific novelty consists in the analysis of the feasibility of the construction of toll roads in the Russian Federation. The planned construction of a new major highway M-12 «Moscow - Nizhny Novgorod - Kazan» is considered as an object of research.

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Szeto, Cissy, and Norman H. Wuestefeld. "Historical and Contemporary Toll Revenue Uses." Transportation Research Record: Journal of the Transportation Research Board 1558, no. 1 (January 1996): 16–23. http://dx.doi.org/10.1177/0361198196155800103.

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Given the current climate favoring increased reliance on user fee facilities, it may be important to review limitations placed on revenues collected by existing toll facilities, as well as the opportunities that have allowed for expanded roles of these authorities. Common uses of toll revenues today, aside from debt retirement, can be grouped into four categories: subsidy of transportation and transit programs; expansion of state highway systems; support and improvement of other state transportation projects; and investment in ventures to promote economic growth and development. The rationale behind these uses may be of interest when considering administration of revenue collected through congestion and road-pricing programs. Congestion and road-pricing programs could gain greater acceptance if surplus revenues could be channeled into transportation infrastructure investments; improved transit service frequency, operating times, and coverage areas; investments in ridesharing initiatives; and mitigation of impacts on disadvantaged groups. In recent times, as the initial financing debts of toll facilities are retired, some state legislatures have elected to keep tolls on these highways and expand the responsibilities of the toll agency. In some states, the operations of toll facilities have become integrated with state transportation departments, and excess toll revenues are pledged either toward bonds for projects to be undertaken by the department or to take the place of the state's interest in the issuance of debt. The Intermodal Surface Transportation Efficiency Act of 1991 has provided the basis for changing the relationship between the states and toll authorities; innovative finance methods are encouraged to achieve infrastructure improvements that can no longer be accomplished through traditional public taxation mechanisms.

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Dameshek, Lev M., and Margarita D. Kushnareva. "Yakut Governor Ivan Kraft and His Contribution to the Construction of the Amur-Yakutsk Highway at the Beginning of the 20th Century." Vestnik Tomskogo gosudarstvennogo universiteta, no. 466 (2021): 94–97. http://dx.doi.org/10.17223/15617793/466/11.

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The article considers the activities of Ivan Kraft, the governor of Yakutsk Oblast, on the incorporation of North-East Siberia into the single economic, administrative and sociocultural space of the Russian Empire. The aim of the study is to analyze Kraft's contribution to the construction and arrangement of the Amur-Yakutsk Highway at the beginning of the 20th century. To reach this aim, the authors broadly use archival sources that have not been previously published and introduced into academic discourse. The topic has theoretical and applied relevance. It has not been sufficiently studied in the historiography of North-East Siberia and is the subject of scholarly and political discussions. The key method in the study is an interdisciplinary approach to the research problem, which is at the intersection of history and economics. The authors used content analysis for a quantitative and qualitative study of these sources based on the principle of historicism and consistency. The authors determined that, in connection with the design of the Amur Railway, the Amur-Yakutsk Highway received the status of a strategic infrastructure object in the macroregion. The authors note that Kraft was the initiator of the construction of the route from Yakutsk to the Amur. The governor conducted a number of scientific and engineering surveys of the most convenient route and made applications for financing the construction of the highway. Kraft made a strategic decision to attract private companies with large capital for the construction. The Upper Amur Gold Mining Company and the Heirs of A. I. Gromova company helped build highway sections with a total length of more than 500 km, equip stations, establish telegraph communications, and construct river crossings. At the beginning of the 20th century, in the framework of modernization measures, Kraft considered Yakutsk Oblast as a mining region. This became the basis for raising the question of Yakutia's access to the Trans-Siberian Railway. The close cooperation of the government, in the person of Kraft, with large enterprises of the region was the basis for the project of constructing a railway line to Yakutsk. In conclusion, the authors note that the processes of incorporation of the Asian borderlands of Russia into the economic, administrative and sociocultural space of the state that Governor of Yakutsk Oblast Ivan Kraft began at the beginning of the 20th century were reflected in the modern policy of the Russian Federation. The Amur-Yakutsk Mainline was put into operation in 2015. At present, the problem of building a bridge across the Lena in the Yakutsk area is still relevant. In 2019, President of the Russian Federation Vladimir Putin signed orders to begin the construction of the bridge. This will create an international transit corridor between Europe and the Asia-Pacific region.

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B, Baruah, and Kakati M. "Pricing and financing of infrastructure projects; the challenge before the indian policymakers." Journal of Management and Science 1, no. 2 (June 30, 2014): 106–32. http://dx.doi.org/10.26524/jms.2014.12.

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Ever since the economic reforms started two decades ago, India has been trying to lead the developing nations in terms of building their infrastructure. The challenge of government‟s fund constraint has been tried to put behind by allowing flow of funds from private sources with regulatory control in government own hand. However, with the global economic crisis that had knocked heavily at the doors of Indian economy too during last couple of years, it was found that developmental bottlenecks for infrastructure sector has escalated in spite of the best efforts by the government.Arranging of Debt and equity capitals are major financial investment concerns for infrastructure developers today. While studies reveal that issues like land acquisition, utility shifting, discrepancies in DPR, state support agreements, dispute resolutions are still considered to be critical for an infrastructure development projects, more recently the loose ends at the financial structures of many projects are posing as more vulnerable threats. Especially in the period of economic recession, the financial organizations have tightened their hands and as a result project cash flows are affected at halfway round. As the investment retrieval periods are going to be prolonged, the investors are facing uncertainty on their assured return. The commercial banks which had already reached their sectarian limits; still tried to backed promoters with decent track records, with clearances in place and well defined business plans. However, very few projects could achieve financial closure during past two years. The participation rates in recent biddings of PPP projects are also not encouraging, especially in Highway sector. More recently, there have been reports of NHAI favoring for moving back to the old EPC mode. Salient features of few case studies of Indian projects have highlighted that there is no project specific debt equity ratio and it may differ from project to project. Study by the authors also reveals that availability of debt in India is Sector specific and projects are still being supported with generous government grant varying upto 70% in case of Jawaharlal Nehru National Urban Renewal Mission (JnNURM) schemes. However, the principal concern remains for retrieval of at least 20% return on the investment by the private party. A fair bidding, a robust agreement and the well planned pre-constructional activities can be beneficial to all the stack holders of the infrastructure development project. But whatever be the planning, with the complexity of multiple issues involved for choice of funds,one has to keep in mind that investments in infrastructures are non-recourse in nature. At the same time the sharing of responsibilities in a pre-framed manner proves to be successful in many occasions for the participants concerned and reflect a win-win situation for all.

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Wang, Yiwei, and Qing Miao. "Implication of Replacing the Federal and State Fuel Taxes with a National Vehicle Miles Traveled Tax." Transportation Research Record: Journal of the Transportation Research Board 2672, no. 4 (September 18, 2018): 32–42. http://dx.doi.org/10.1177/0361198118796737.

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A vehicle miles traveled (VMT) tax is often proposed to replace fuel taxes for financing the nation’s highway and road network. In this paper, we investigate households’ driving response to driving cost changes depending on their vehicle choices. Using the empirical estimates, we simulate the vehicle usage, tax burdens, and total tax revenues generated under a possible nationwide revenue-neutral flat VMT tax. Our results confirm that, compared with the current gasoline tax, a revenue-neutral flat VMT tax can be a more stable tax revenue source. We estimate that a 50% increase in average miles per gallon would lead to a 28% decrease in the total revenues raised by the current gasoline tax, while the same amount of increase in fuel economy would increase the VMT tax revenues by 4.4 % (all relative to the 2009 baseline). In the meantime, we find no significant difference between the two types of tax in their total revenues, when the pre-tax gasoline prices fluctuate by different magnitudes. A VMT tax would be slightly more regressive than the gasoline tax, but the difference is negligible. Overall, our simulation shows that VMT tax could serve as a viable alternative to gasoline taxes.

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Beran, Václav, Daniel Macek, and Dana Měšťanová. "Life-cycle cost of bridges – first steps to a holistic approach." Baltic Journal of Road and Bridge Engineering 11, no. 2 (June 27, 2016): 169–78. http://dx.doi.org/10.3846/bjrbe.2016.20.

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Bridges create transport infrastructure and are subjected to long term witness of economic design, reliability, durability, maintainability and external risk (natural and human hazards). Deficient design of bridges points to high investment costs, low quality, retrofits maintenance costs, mitigates quality damages. The primary reason of the problem is usually stated high investment costs. Resources for investment are limited over and over again. However, approach for evaluating and comparing the cost effectiveness in practical design does not dominate in present-days as arbitration of different strategies and warrant for avoiding critical economic or functional situations. This paper illustrates a method for estimating the retrofits for bridges design based on Life-Cycle Costs and Cost-Benefit Analysis. The approach integrates cost model, fragility of as-designed and retrofitted benefits for a range of externalities and associated potential changes in design and economical retrofit. The emphasis on life-time performance and benefits, as opposed to initial retrofit acquisition investment cost alone, paves the way to risk-wise investment and also helps to support upgrade actions for sustainable infrastructure. An application of the holistic approach Life-Cycle Cost and benefit analysis is conducted for two representative bridges of highway class. The available financing has a big influence on the chosen technical design.

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Lavrov, L. P., F. V. Perov, and E. G. Molotkova. "Alluvial lands of Vasilyevsky Island at the start of the urbanization of the third millennium." Вестник гражданских инженеров 18, no. 1 (2021): 14–26. http://dx.doi.org/10.23968/1999-5571-2021-18-1-14-26.

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The article analyzes some variants of assimilation of new territories and development of unbuilt sites on the example of alluvial lands of Vasilyevsky Island.The data on the functional load, architectural and artistic features and principles of investment are regarded. The exclusive role of transport connectivity and framework is emphasized. The authors are of the opinion that the idea of laying a high-speed highway through the city center on Vasilyevsky Island is really a breakthrough significantly increasing St. Petersburg urban development potential. It is underlined that the sale of economy-class apartments, which had been conceived as the main source of financing the work according to the plans of 2017, has failed to become a sufficient basis for the cost of land reclamation and creation of a representative coastal multifunctional complex. According to the authors, the negative factor in this aspect was the inertia of the design and construction system, which has developed in St. Petersburg for many decades and is focused on the mass residential development of vast peripheral territories, and does not envisage the development of a highly urbanized environment. Considerations about the prospects for further development of building on the alluvial lands of Vasilyevsky Island are offered.

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Kubertavičius, Lukas, and Donatas Čygas. "ELECTRONIC ROAD TOLL SYSTEM AND ITS INSTALLATION ON LITHUANIAN ROADS." Mokslas - Lietuvos ateitis 14 (October 3, 2022): 1–7. http://dx.doi.org/10.3846/mla.2022.17257.

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For the use of the national highway network of Lithuania, freight vehicles pay a fee of a fixed amount using the system of purchasing electronic vignettes (hereinafter referred to as e. vignettes). The tax is paid for a certain period (day, week, month, or year) regardless of the distance traveled by vehicles. Such a taxation model does not value the “polluter pays” principle enshrined in EU legislation and does not allow covering the damage caused by freight vehicles to the road infrastructure. Road maintenance and development program financing law no. VIII-2032 by the law on the amendment of articles 2, 6, 9 and appendices 2, 5, VĮ Lithuanian Road Directorate until 2023 must develop and implement an electronic road toll system that should replace the currently used e. vignettes. The article presents the currently tolled road network of Lithuania, the financial impact on the companies providing transportation services after the introduction of the electronic road toll system. The road toll systems operating in European countries and Lithuania and their operating technologies, marginal tariffs are analyzed, and a methodology is proposed, based on which it would be possible to fill in the list of currently tolled roads. A company providing cargo transportation services has been selected, and it has been determined how the amount of paid taxes will change after the implementation of the electronic road toll system on Lithuanian roads. It has been determined that after the introduction of EKRS for companies providing transportation services that carry out long-distance transport in Lithuania, the amount of taxes paid for using state roads will increase significantly.

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Journal articles on the topic 'Highway Financing'

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