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This paper analysis the welfare changes arising from a road project, undertaken as a public-private partnership, measured as the variation in utility, using a sequentially dynamic general equilibrium model. To circumvent the budget restriction imposed by the central government, the Azorean...
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concession contract, which allows a private firm to charge tolls to road users during a pre-determined period in order to recover … to the government, or minimum term to hold the contract. This paper discusses, in the context of road franchising, how … this mechanism does not generally yield optimal outcomes and it induces the frequent contract renegotiations observed in …
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In this study, we examine the impact of the STAR highway located in Batangas province, Philippines, on the public finance of the cities and municipalities through which it directly passes. Specifically, we exploit a unique, disaggregated dataset on tax (property and business taxes) as well as...
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