The Finance and Ownership of Roads

Abstract

Roads are essential if the transport services a modern economy requires are to be provided effectively. This article is concerned with examining the role which the private sector may play in reducing existing difficulties in funding current road investments and maintenance costs. Additionally it assesses the efficiency gains which can result from greater private sector involvement in road infrastructure provision and compares the respective merits of the alternative ways in which this might be attempted. While the historical precedent of the ‘Turnpike Age’ in the UK is briefly reviewed, the analysis focuses primarily on the possible welfare gains which could be generated by greater private sector participation in what would remain a predominantly public sector activity.

^*Department of Economics,Loughborough,LE11 3TU

^*Department of Economics,Loughborough,LE11 3TU

Notes

^*Department of Economics,Loughborough,LE11 3TU