Transportation, Economy, and Society Flashcards
Transportation development ushers ____ & encourages
_____ in an area. The development of transportation systems is
embedded within the scale and context in which they take place.
economic improvements
urbanization
Regulation, Deregulation, and Privatization = towards ___
transport efficiency
Transport as a universal good: man is dependent on it
1.
2.
3.
To manage complex pattern of mobility
Manage the negative externalities of transport
Security (recent)
___ is involved in the overall regulation and management of transport activities
because the conditions rarely exist for an entirely free market in transport to function
State
- No accepted, or straightforward, definition: legal mechanisms
- depends on the level of aggregation and the country of origin.
- The social basis of ____ is often justified on the basis of an economic rationale.
REGULATION
____ seeks to promote both efficiency and equity
Regulation
- Self-regulation
- Free competition is sufficient to ensure efficiency of markets
- Regulation is to ensure free competition
Competition where possible, regulation only when necessary
Neo-Liberals
- Free markets as neither natural nor desirable
- Markets are created by governments, ordered by institutions, sustained by
regulations - Regulation is the very definition of the market
- Regulation & Competition are complements rather than alternatives
Social-Institutional
Holy trinity of any regulatory framework:
- Compliance: lifeblood of regulation
- Legitimacy: only thru democratic process
- Trust: thru shared norms & repeated contacts
_____ of the state’s existing functions was taking place as privatization and
deregulation significantly curtailed the public provision of services.
Hollowing out
The process of_____ – the introduction of new and different state functions to
replace old ones being discontinued – was always in evidence
filling in
______ should not be interpreted as a simple
reduction of state intervention and control, but rather, they are part
of a broader process of state restructuring which incorporates elements
of both deregulation and re-regulation as established modes of organizations are dismantled and new ones established. (Peck, 2001).
Privatization and deregulation
involve commercial contracts between public authorities (state or local) and private
businesses in the design, construction, financing and operation of public infrastructure and services that have traditionally been delivered by the public sector.
PUBLIC-PRIVATE PARTICIPATION
- Framework that – while engaging private sector – acknowledge & structure the role
of gov’t in ensuring that social obligations are met & successful sector reforms &
public investments are achieved - Allocates tasks, obligations and risks in an optimal way
- Allocate risks to partners who are best able to manage those risks & thus minimize
costs while improving performance
PPPs
- contracts transfer obligations to the private sector rather than emphasizing
opportunity for partnership - Backlash led to legitimate public concerns, thus PPPs
PSP (Private Sector Participation)
- Involves the sale of ownership in a company or operating assets by the public sector
- Often accompanied by sector-specific regulatory arrangements to take account of social & policy concerns
Privatization
Common Characteristics of PPPs
- Long contract duration, fixed term (50 yrs)
- Financing comes in part from the private sector, but requires payments from the
public sector and/or users over the lifetime of the project - An attempt to distribute risks between the public partner and the private partner according to the respective ability of the parties to assess, control and cope with
them.
- BOT :
- BOT :
- BOO:
- BOOT:
- BLT:
- BTO:
- BT:
- CAO:
- DBFO:
- DOT:
- ROT:
- ROT :
- ROO:
- BOT : Build, Operate, Transfer
- BOT : Build, Own, and Transfer
- BOO: Build, Own, Operate
- BOOT: Build, Own, Operate, & Transfer
- BLT: Build, Lease, Transfer
- BTO: Build, Transfer, Operate
- BT: Build, Transfer
- CAO: Contract, Add, Operate
- DBFO: Design, Build, Finance, & Operate
- DOT: Develop, Operate, Transfer
- ROT: Rehabilitate, Operate, Transfer
- ROT : Rehabilitate, Own, and Transfer
- ROO: Rehabilitate, Own, Operate
contractual arrangement whereby the proponent
undertakes the construction, including financing of a given infrastructure facility and the
operation and maintenance thereof. The proponent operates the facility over a fixed term during which it is allowed to charge facility users appropriate tolls, fees, rentals and charges
BUILD-OPERATE-TRANSFER
a contractual arrangement whereby the proponent undertakes the financing and construction of a given infrastructure or development facility and after its completion turns it over to the government agency or local government unit concerned which shall pay the proponent on an agreed schedule its total investment expended on the project plus a reasonable rate of return thereon.
BUILD AND TRANSFER