01020464

Component

In the mid-1990s, Spain faced the daunting challenge of keeping up with high transport infrastructure investment in order to be able to converge in real terms with the most advanced EU countries and, at the same time, to deal with severe restraints in budgetary policy derived from its entry into the European Monetary Union. Data on transport infrastructure investment show that Spain has managed to increase transport infrastructure investment during the 1995-2004 period while also managing to uphold budgetary balance and macroeconomic stability. In this paper, those measures in Spanish economic policy that have made it possible are analysed. Making good use of EU grant funds and increasing the debt of transport public agencies are the main features of the transport infrastructure investment policy during that period. Some other reforms with medium and long-term effects have also been implemented over the last few years and are also analysed in this paper, such as broadening the scope of private sector involvement.

01020180

06-0244

English

13p

2006

Transportation Research Board 85th Annual Meeting

CD-ROM

Figures (7) ; References (16) ; Tables (8)

Debt; Economic development; Finance; Government funding; Infrastructure; Investments; Transportation policy

Spain

Economics; Finance; Highways; Policy; I10: Economics and Administration

Transportation Research Board Annual Meeting 2006 Paper #06-0244

BTRIS, TRIS, TRB

Mar 3 2006 10:18AM