Towards efficiency and financial sustainability of Public-Private Partnership in the Local Public Transportation System

A comparative analysis of the public transportation systems of Madrid (ES) and Rome (IT), market failures and various reform proposals.

Authors

  • Carlo Stella Serrano Universidad Autónoma de Madrid

DOI:

https://doi.org/10.32826/reyf.v1i2.350

Keywords:

Local public transport, efficiency, financial sustainability, public-private partnership, public services.

Abstract

This work justifies the intervention of the public sector in the provision of local public transport and the public-private partnerships which exist in it. To exemplify this, a descriptive analysis of two transportation systems (Madrid and Rome) is realized. Following, several market failures are analyzed in each transportation system, reinforcing the necessity of acquiring good public policies in order to achieve excellence in the service. The analysis of each failure is accompanied by a series of measures and proposals to solve it. Later on a comparative of efficiency is also realized by using various simple indicators on the operative side and economic ratios on the financial side, describing the concept of co-financing in public transport and its importance in order to achieve an economically independent and high-quality system. Lastly, an analysis of the economic impact of Madrid Region’s new transport fares is realized, proposing a new fare framework which proves to be the equitable alternative and long term financially sustainable solution.

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Published

2023-11-23

Issue

Vol. 1 No. 2 (2023): Revista de Economía y Finanzas (May - August 2023)

Section

Articles

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