The financing of transport infrastructure has been discussed in this chapter as an issue between efficient pricing and political distribution. Historically, toll pricing and private investment in transport infrastructure has been frequent and important (e.g., in the railway era), and market orientation relevant. More recently, e.g., in the economic growth after the Second World War and the construction of large motorway networks as well as urban transit systems, public funding and operation has largely dominated. Economists, models for the return to some economic principles promoting an efficient allocation of funds, environmental resources, and users’ time are of limited relevance as long as distributional issues prevail. Therefore, the conclusion is that the increasing emphasis in the literature on analyzing and understanding the economics of transport policy and the mechanisms of collective choices in the sector will improve the feasibility of financing infrastructure via pricing.

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Published on 01/01/2005

Volume 2005, 2005
DOI: 10.1108/9780080456041-017
Licence: CC BY-NC-SA license

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