Free shipping for many products! The China Road and Bridge Corporation (CRBC) built the 27.1km (16.8 miles) Nairobi Expressway linking the countrys main airport and the capital. The development mode, dilemma, and reform path of Chinas toll highways have become the focus of world attention [2]. 105114, 2020. 22, pp. Across different parameter estimation and statistical inference methods, the estimated values and significance levels of the main parameters are approximated to each other. 266271, 2005. Therefore, the transformation from scale and monopoly into operational efficiency may encounter obstacles, resulting in the operational inefficiency of the whole sector. Toll road building has been so feverish in China that roughly 25,000 miles of toll expressways were built from 1990 to 2005, according to the World Bank. Some governmental loan-repayment highways are directly managed by nonprofit highway authorities under the provincial Department of Transportation; most governmental loan-repayment highways are centrally managed by operating highway group companies under the provincial Department of Transportation or State Asset Regulatory Commission. 63, no. The road, part of state Route 91, was built and run for $130 million by California Private Transportation Company, partly owned by France-based Compagnie Z. Dai, L. Guo, and Q. Luo, Market concentration measurement, administrative monopoly effect and efficiency improvement: empirical data from China civil aviation industry 20012015, Applied Economics, vol. 4, pp. From 2005 to 2010, the annual investment was planned to run from 140 billion to 150 billion yuan (17 to 18 billion U.S. dollars), while from 2010 to 2020, the annual investment planned is to be around 100 billion yuan. 30, no. Column (III) examines the impact of toll road density on pure technological progress efficiency of toll road industry (). Foreign Company Now Owns Six Major US Tolls Roads News In a short-sighted attempt to fill holes in their budgets, some states have been selling the control over their toll roads to private foreign investors.

G. Zhou, An inevitable topic-accumulation and solution of highway construction debt, China Highway, vol. statistic alerts) please log in with your personal account. The single property right structure under the control of the state-owned government repayment roads severely constrains the resource allocation role of the market mechanism and provides objective conditions for the formation of an excessive administrative monopoly. M. S. Qi, On the entropy effect of public administration systemon the law of decreasing management efficiency, The Journal of Yunnan Administration College, vol. Accessed April 07, 2023. https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Ministry of Transport of China. 47-48, 2011. Distribution of toll road mileage in China as of 2020, by road type [Graph]. Therefore, the premise of the role of the market mechanism is for the government to restructure its functions and role in the toll road industry.

When the administrative monopoly reaches a degree where the MR is equal to the MC, the effect of the administrative monopoly on the toll highway sector is optimal or rather appropriate. [4] thought that the poor operational efficiency is the main problem of the supply side of toll highway industry, and the development of toll highways should be transformed from scale expansion to quality and efficiency improvement. 315, no.

Considering the possible impact of administrative monopoly, we propose the following hypothesis: Hypothesis 1. A foreign company now owns six major US toll roads.

The numerous studies reach a consensus that a monopoly leads to significant X-inefficiency at different levels. Li et al. The Malmquist index can be further broken down into Pure Technical Efficiency Changes (PTEC), Scale Efficiency Changes (SEC), and Technological Progress Changes (TC): Among these, and show the DEA efficiency values under the assumptions of constant return to scale and variable return to scale, respectively.
This is an open access article distributed under the. Average operating efficiency and index decomposition of toll roads in 29 provinces (with 2010 as the base period). 4, pp. S. Wallsten, The future of digital communications research and policy, Federal Communications Law Journal, vol. 358367, 2016. WebThis report draws on extensive review, examination, and international experience to explore five key areas that impact corporatization and privatization policy: the separation of In addition, it is rare to find papers that analyze the inefficient operation of the toll road industry from the perspective of economies of scale. China's toll roads have stacked up a debt pile of 4.45 trillion yuan ($666.96 billion), with almost 80 percent of their annual income last year going to repay loans, the At the sector level, two proxy variables are used. Out of all commercially operational toll roads, PT Jasa Marga (Persero) Tbk is dominating the market with 60% market share. 4, pp. As in Figure 1, the average operating efficiency of western provinces and northeastern provinces is smaller than 1, which means there is a decline compared to those in 2010. By the end of 2018, Chinas toll highways extended for a cumulative distance of 168,100km, including 93,300km of governmental loan-repayment highways, accounting for 55.5% of all toll highways in the country. The estimated coefficient of toll road density is 6.851 and statistically significant, which is close to the estimate in column (I). Mobility Authority Toll Roads 183A Toll Road 290 Toll Road 448, no.

X. M. Li, C. S. Hu, and J. N. Cao, Analysis of toll road operation & theory and method of government regulation, China Soft Science, vol. [Online]. Therefore, to continue improving the economic performance of the toll road industry, it is necessary to govern an excessive administrative monopoly by bringing out the effect of the economies of scale and overall improve the toll road industrys economic performance. E. Velinov, Y. Petrenko, E. Vechkinzova et al., t al.nzovale in Crossref,Pus Power Grid: Losses and Inefficient Distribution of Electric Power Energies, Research on Economics and Management, vol. Under the constraint of the overall environment of the toll highway sector, operating toll highways actually present an operation management model similar to that of governmental loan-repayment highways. The Chinese foreign minister, Wang Yi, pledged in July that China would extend $1 billion in loans for vaccines to Latin American and Caribbean countries. The administrative monopoly is found to increase the debt burden of the toll highway sector and to have a negative impact on the long-term sustainability of the sector. 157179, 2019. 6, pp. The concession expiry clock is ticking for China's listed highway operators. Since the advent of toll highways in China, the central government has implemented the management system known as unified leadership and hierarchical management. Industry-level control variables: toll road management expense , toll road maintenance expense , and toll road toll station number .The proxy variable for administrative monopoly is the ratio of the scale of governmental loan-repayment toll highways to the total scale of toll highways, and the ratio of cumulative capital funds for the construction of governmental loan-payment toll highways to the total investment of the toll highway sector; thus, the intersection terms are recorded as and, respectively, in Table 9. WebFind many great new & used options and get the best deals for Vintage Standard Oil Map Toll Roads Ill Ind Ohio Penn NY NJ N Eng 1960's . Updated. The regional-level control variable, Ratio_GDP, refers to the level of regional economic development, measured by the proportion of regional GDP to national GDP. 1623, 2019. The new coronavirus (COVID-19) outbreak caused a traffic slump and also led to an unprecedented 79, no. To test Hypothesis 2, the influence of administrative monopoly on toll road operating efficiency, we introduce an intersection term () of administrative monopoly () and toll road scale () into equation (5), obtaining the following model: The strength of administrative monopoly is defined at both provincial and sector levels. 1, pp. China's toll road sector is facing two lanes of trouble. 34, no. WebCentral Texas has ten toll roads operated by two separate transportation agencies, the Mobility Authority and TxDOT. The institutionalized administrative monopoly is not only the critical factor in the institutional environment of the toll highway sector but also primarily accounts for the economic performance, enterprise behaviors, market structure, and property structure of the toll highway sector. Access to this and all other statistics on 80,000 topics from, Show sources information The virtual inflation of operating costs has become a bottleneck to the improvement of economic performance in the sector. Then you can access your favorite statistics via the star in the header. 7, pp. Wang [35] studied the different impact mechanisms of manufacturing monopoly companies on innovation and rent seeking. -.

X. Mao, J. Gan, and X. Zhao, Debt risk evaluation of toll freeways in Mainland China using the grey approach, Sustainability, vol. Yu et al.

60, no. China's road operators left battered by no-toll policy. The government should also restructure the functions and roles of government departments in the toll road industry. 6, pp. These results imply that the total factor productivity of toll road industry will increase significantly with the increase of toll road scale, but this is mainly due to the improvement of pure technical progress efficiency, rather than the improvement of scale efficiency. 41, no.

73, pp. Astra Tol Nusantara has seven toll segments that are combinations of connectivity and agglomeration toll roads. Dai et al. In the next five to 10 years these concessions will expire--many of them on top-quality franchise highways. April 1, 2023 8:00am. The academic literature widely accepts that highway infrastructure can promote regional economic development. Thus, we can use the ratio of cumulative capital funds for the construction of governmental loan-payment toll highways to the total investment of the toll highway sector as the proxy of administrative monopoly, to test Hypothesis 2. The annual compound growth rates of toll roads in the western and northeastern provinces are 0.24% and 7.34%, respectively (the corresponding mileage indices are 1.0024 and 1.0734, respectively), while the annual compound growth rates of the scale efficiency index are 0.99% and 1.62% (corresponding to the SEC index of 0.9901 and 0.9838, respectively). Table 4 shows the parameter estimation results from formula (5), where (I), (II), and (III) are robust least squares estimation of heteroscedasticity using mixed cross-sectional data; (IV), (V), and (VI) are generalized method of moments (GMM) estimates of panel data. Highway group companies or highway authorities set up branch offices or management offices, which are responsible for the operation management of specific highway sections. Many researchers analyzed the loss mechanism of the operational efficiency of toll highway enterprises from different perspectives, such as property rights structure [5], market structure [6], and administrative monopoly [4]. Inference methods, the transformation from scale and monopoly into operational efficiency may encounter obstacles resulting... 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Are you interested in testing our business solutions? J. S. Yang and J. H. Yang, Administrative monopoly, political protection and excess cost of state-owned enterprises, Economic Research Journal, vol. 1627, 2010. Many researchers contend that the management system of the infrastructure sector should be reformed by taking the paths of competitive intervention, privatization of public sectors, and diversification of public investors [5254]. Descriptive statistics of the main variables. 3, pp. Compared with the results of columns (II) and (IV) of Table 4, the results of Equations (II) and (IV) in Table 6 show that high toll highway density has a positive effect, instead of a nonsignificant effect, on the scale efficiency of the toll highway sector.

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