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| Author: | Vassallo, J.M. |
| Title: | Traffic risk mitigation in highway concession projects: the experience of Chile |
| Journal: | Journal of Transport Economics and Policy
2006 : SEP, VOL. 40:3, p. 359-381 |
| Index terms: | risk roads traffic Chile |
| Language: | eng |
| Abstract: | Traffic risk mitigation remains a challenging aspect of highway concessions. The article evaluates three mechanisms applied in Chile to mitigate traffic risk: the "Minimum Income Guarantee"(MIG); the "Least Present Value of the Revenues"(LPVR) and "Revenue Distribution Mechanism" (RDM). In specific, the focus is on the performance of LPVR and MIG during the economic recession that took place between 1998 and 2002. In the context of this recession, the paper explains the reasons that led the government to implement the RDM mechanism. |
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