2026-09-15T21:11:32Zhttps://riubu.ubu.es/oai/request

oai:riubu.ubu.es:10259/68662024-05-20T06:51:52Zcom_10259.4_104com_10259_2604col_10259_6848

Garrido, Laura 608f787a-0f9a-49f7-8234-e2f4ed6fc2cf 600 Vassallo, José Manuel 5baea922-a505-467a-9255-1344616f3f60 600 2022-09-15T11:42:35Z 2022-09-15T11:42:35Z 2021-07 978-84-18465-12-3 http://hdl.handle.net/10259/6866 10.36443/10259/6866 Trabajo presentado en: R-Evolucionando el transporte, XIV Congreso de Ingeniería del Transporte (CIT 2021), realizado en modalidad online los días 6, 7 y 8 de julio de 2021, organizado por la Universidad de Burgos Budgetary constraints are prompting many governments to encourage private financing of transportation infrastructure through Public-Private Partnerships (PPPs). Fiscal support measures have been often used to improve the financial feasibility of these projects, but also to rebalance the economics of the contracts to compensate for changes imposed by the government. This paper analyses the awarding of subordinated public participation loans (SPPLs) to ten brownfield shadow-toll motorway PPPs in Spain after additional works were imposed by the government. SPPLs are government loans, subordinated to the senior debt, that were intended to facilitate the PPP contractors the financing of the aforementioned works. This paper evaluates the financial and social impacts of the awarding of these loans to three of these projects. To that end, the SPPL repayment capacity of the PPPs and the social benefits derived from the improvement in road safety are estimated to evaluate whether the government’s decision to support these projects was justified from a social perspective. The results show that, although the government’s decision was reasonable, the design of the SPPL and its awarding conditions should be improved to guarantee the public interest. The authors wish to thank the Spanish Ministry of Transportation and particularly to Pablo Pérez de Villar for providing us the data needed to carry out the analysis. application/pdf eng Universidad de Burgos. Servicio de Publicaciones e Imagen Institucional R-Evolucionando el transporte http://hdl.handle.net/10259/6490 https://doi.org/10.36443/9788418465123 Peajes Autopistas Economía del transporte Tolls Motorways Economy on transport Ingeniería civil Transportes Civil engineering Transportation Ex-post evaluation of government loans provided to shadow toll motorways in Spain info:eu-repo/semantics/conferenceObject info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/openAccess 311 327 THUMBNAIL Garrido_CIT2021_311-327.pdf.jpg Garrido_CIT2021_311-327.pdf.jpg IM Thumbnail image/jpeg 4026 https://riubu.ubu.es/bitstream/10259/6866/3/Garrido_CIT2021_311-327.pdf.jpg 2d75c0a4618aadc9597e16325cfbf7f0 MD5 3 LICENSE license.txt license.txt text/plain; charset=utf-8 1362 https://riubu.ubu.es/bitstream/10259/6866/2/license.txt 5d013bfa6e473ff0db22cd82a4d71a70 MD5 2 ORIGINAL Garrido_CIT2021_311-327.pdf Garrido_CIT2021_311-327.pdf application/pdf 232924 https://riubu.ubu.es/bitstream/10259/6866/1/Garrido_CIT2021_311-327.pdf a4c447519e073626083ad19df644941f MD5 1 10259/6866 oai:riubu.ubu.es:10259/6866 2024-05-20 08:51:52.854 Repositorio Institucional de la Universidad de Burgos bubrep@ubu.es RWwgYXV0b3IgY29tbyDDum5pY28gdGl0dWxhciBkZSBsb3MgZGVyZWNob3MgZGUgcHJvcGllZGFkIGludGVsZWN0dWFsIGRlIGxhIG9icmEsIG8gZGlzcG9uaWVuZG8gZGUgbG9zIGRlYmlkb3MgcGVybWlzb3MgZGUgbG9zIG90cm9zIHRpdHVsYXJlcywgc2kgbG9zIGh1YmllcmEsIHkgZW4gdmlydHVkIGRlIGxvcyBkZXJlY2hvcyBxdWUgbGUgY29uZmllcmUgbGEgbGVnaXNsYWNpw7NuIHZpZ2VudGUgc29icmUgcHJvcGllZGFkIGludGVsZWN0dWFsIHkgZGVyZWNob3MgZGUgYXV0b3IsIApBVVRPUklaQSBhIGxhIFVuaXZlcnNpZGFkIGRlIEJ1cmdvcyBhIGRpZnVuZGlyLCBkZSBtYW5lcmEgZ3JhdHVpdGEsIGVsIGNvbnRlbmlkbyBkZSBsb3MgYXJjaGl2b3MgZGlnaXRhbGVzIHF1ZSBjb3JyZXNwb25kZW4gYWwgZG9jdW1lbnRvIGRlc2NyaXRvIGFudGVyaW9ybWVudGUsIGNvbiBjYXLDoWN0ZXIgbm8gZXhjbHVzaXZvIHkgZGUgbWFuZXJhIHDDumJsaWNhIGVuIGFjY2VzbyBhYmllcnRvIGEgdHJhdsOpcyBkZSBJbnRlcm5ldCwgcGFyYSBsbyBxdWUgbGEgQmlibGlvdGVjYSBwcm9jZWRlcsOhIGEgYXJjaGl2YXJsb3MgZW4gZWwgUmVwb3NpdG9yaW8gSW5zdGl0dWNpb25hbC4gQXNpbWlzbW8gYXV0b3JpemEgYSBsYSBVbml2ZXJzaWRhZCBkZSBCdXJnb3MgYSByZWFsaXphciBsYXMgdHJhbnNmb3JtYWNpb25lcyBuZWNlc2FyaWFzIGRlIGZvcm1hdG8sIG5vIGRlIGNvbnRlbmlkbywgcGFyYSBnYXJhbnRpemFyIGxhIHByZXNlcnZhY2nDs24geSBlbCBhY2Nlc28gZW4gZWwgZnV0dXJvLgoKRWwgYXV0b3IgZGlzcG9uZSwgZW4gdG9kbyBjYXNvLCBkZWwgZGVyZWNobyBhIHJldm9jYXIgZXN0YSBhdXRvcml6YWNpw7NuLgoKTGEgY2VzacOzbiBkZSBkZXJlY2hvcyBkZSBlc3RhIG9icmEgc2UgZW5jdWVudHJhIHN1amV0YSBhIGxhIGxlZ2lzbGFjacOzbiB2aWdlbnRlIHNvYnJlIHByb3BpZWRhZCBpbnRlbGVjdHVhbCB5IGRlcmVjaG9zIGRlIGF1dG9yLiBTdSBkaWZ1c2nDs24gZW4gZWwgUmVwb3NpdG9yaW8gc2Vyw6EgYmFqbyBsYSBtb2RhbGlkYWQgZGUgbGljZW5jaWEgQ3JlYXRpdmUgQ29tbW9ucyBvIGVxdWl2YWxlbnRlOiByZWNvbm9jaW1pZW50byDigJMgdXNvIG5vIGNvbWVyY2lhbCDigJMgc2luIG9icmEgZGVyaXZhZGEsIHBvciBsYSBxdWUgc2UgcGVybWl0ZSBoYWNlciBjb3BpYSwgZGlzdHJpYnVpciB5IGNvbXVuaWNhciBww7pibGljYW1lbnRlIGxhIG9icmEgc2llbXByZSBxdWUgc2UgY2l0ZSBhbCBhdXRvciwgZWwgdXNvIHF1ZSBzZSBoYWdhIGRlIGVsbGEgc2VhIG5vIGNvbWVyY2lhbCB5IG5vIHNlIGNyZWVuIG9icmFzIGRlcml2YWRhcyBhIHBhcnRpciBkZSBsYSBvcmlnaW5hbC4K