Investment, Pricing, Taxation
Quantifying the Socio-economic Benefits of Transport
Roundtable Report, Policy Insights,
20 January 2017
- Cost-benefit analysis (CBA) guidelines can be expanded to include reliability and some wider impacts.
- Further research into reliability benefits is needed to improve confidence in results.
- Wider economic impacts should be examined in cases where they are expected to be significant.
- Further research into the impacts and tools for capturing wider impacts is needed.
- Cost-benefit analysis (CBA) can play an important role in decision making, but need not dominate.
Airport Demand Forecasting for Long-Term Planning
Roundtable Report, Policy Insights,
6 July 2016
- Use quantitative methods to analyse the key drivers of airport demand.
- Use expert guidance to help interpret the quantitative results.
- Quality-assure the analysis and counter the risks of optimism bias.
- Reflect the risks and uncertainties that arise in even the best forecasts.
- Make better use of demand forecasts in airport infrastructure planning.
Better Regulation of Public-Private Partnerships for Transport Infrastructure
Roundtable Report, Policy Insights,
24 September 2013
- A mix of financing models spreads risks.
- A dedicated budget for PPPs, set in relation to the rate at which future liabilities will be accumulated, can provide such a limit.
- Explicit consideration of alternative financing arrangements should be employed in determining whether to proceed with PPP projects.
- It is recommended that governments require PPP projects to pass tests of affordability and to clear the hurdle rates of return generally applied to publicly financed transport projects.
- The expected cost of PPP projects should take account of cost inflation resulting from the propensity for projects to be renegotiated.
- At the individual project level, risks should be assigned to the party best able to manage them, along with rights to make related decisions.
- Assigning demand risk is not straightforward and risk sharing arrangements are therefore common.
- Continuity of resources and expertise is essential for addressing strategic behaviour and optimism bias more generally.
- Regulatory agencies are well placed to ensure transparency and accountability by publishing reports on the criteria employed to make decisions and publishing contracts.
Déclaration des Ministres sur le Financement des transports. Sommet annuel 2013
Summit Declaration,
22 May 2013
OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average
Statistics Brief,
31 May 2012