01626094

Component

This paper examines the impact of political risk on the delivery of surface transportation infrastructure projects using a public-private partnership (P3) approach. The goal is to assess the probability of completion of P3 projects and what role political risk plays. To understand how political risks impact P3 projects at each stage of project delivery, this paper first develops a data structure illustrating stages of P3 project delivery. Data points are collected from multiple sources, including the Federal Highway Administration, state transportation agencies and private sector websites, Public Works Financing Database, and journalistic accounts. Using the developed database, the paper analyzes the probability of a project making it to the opening of the project to the public and the average time it takes for this. The empirical findings are then used to draw implications on how political risk affects the delivery of P3 projects. The data can be useful to practitioners and academics to properly calibrate the risks premium in their analysis.

This paper was sponsored by TRB committee ABE10 Standing Committee on Revenue and Finance.

01618707

17-05236

English

17p

2017

Transportation Research Board 96th Annual Meeting

Digital/other

References; Tables

Data collection; Political factors; Project delivery; Public private partnerships; Public works departments; Risk; State departments of transportation

U.S. Federal Highway Administration

Administration and Management; Highways; Policy

Transportation Research Board Annual Meeting 2017 Paper #17-05236

TRIS, TRB, ATRI

Dec 8 2016 12:03PM