In particular, governmental loan-repayment highways have such characteristics as franchising, monopoly, and one highway by one company. Hence, this study concentrates on the relationship between economic performance, administrative monopoly, and scale efficiency with respect to toll highways, and explores how the China-specific administrative monopoly affects the transformation of toll highways from scale to efficiency. WebThis is a list of toll roads in the United States (and its territories). 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. 2, pp. This conclusion has been widely questioned in the practice of Chinas toll highway sector. 3, 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. XINHUA. Over the years, nonprofit highway authorities have been restructured as enterprise groups, and regional transportation authorities have roughly developed two operation management systems for provincial governmental loan-repayment highways. China has the largest number of listed toll roads, and the eight I have listed have a total market capitalization of nearly $18bn. The authors declare no conflicts of interest. 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. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). 4, pp. 6, pp. Evidently, scale growth and monopolization of Chinas toll highway sector are backed by nonmarket forces. At the provincial level, the ratio of general budget expenditure in local public finance to regional gross domestic product is used as the proxy variable of administrative monopoly [21, 47, 70].
The current operation management system of Chinas toll highways is characterized by one highway by one company and one highway by one management office. Specifically, for each newly built toll highway, an extra branch office or management office is set up under a group company or highway authority; then, toll management stations are set up under the management office, and toll stations are set up under the management stations. The regression results in columns (I) and (III) show that, after an interaction term is introduced, toll highway density has a positive effect on the TFP of the toll highway sector. Please do not hesitate to contact me. The estimation results are reported in Table 8, where columns (I) and (II) list the least squares estimation results of heteroscedasticity robustness, and columns (III) and (IV) list the results of panel GMM estimation. J. T. Pastor and C. A. K. Lovell, A global malmquist productivity index, Economics Letters, vol. In other words, an excessive administrative monopoly is the primary cause of the poor economic performance of the whole sector. Based on provincial panel data, this paper then discusses the relationship between toll highway scale and economic performance through system-generalized method of moments estimation and verifies the status quo of the transformation of toll highways from scale to efficiency. J. K. Wang, P. R. Bai, and H. C. Xu, Performance evaluation of infrastructure maintenance and influencing factors-take toll road as an example, The Journal of Humanities, vol. The forms of administrative monopoly in the toll highway industry mainly include the unity of government and enterprise, and the failure of regulation caused by it [4]; the government uses administrative power to exclude market competition in the concession stage [8]; and the hierarchical management system of toll highways. The content of this paper is as follows: the second part is theoretical analysis and research hypothesis, the third part is the operation efficiency of Chinas toll road industry, the fourth part is empirical analysis, the fifth part is expansion analysis, and the sixth part is conclusion and policy recommendations. Since the advent of toll highways in China, the central government has implemented the management system known as unified leadership and hierarchical management. H. Y. Lu and Y. Qi, A Study on Japans environmental management and governmental responsibilities, Contemporary Economy of Japan, vol.
The results of these calculations are shown in Tables 1 and 2 . L. Castelli, R. Pesenti, and W. Ukovich, A classification of DEA models when the internal structure of the decision making units is considered, Annals of Operations Research, vol. (r) at the best online prices at eBay! 358367, 2016. Measurement of The Operating Efficiency of The Toll Road Industry To date, China is home to more than 70% of the worlds toll highways, which mainly include governmental loan-repayment highways and operating highways. Finally, this study conducts an extended analysis of the relationship between operational efficiency and debt in the toll highway sector. The governmental loan-repayment highways were monopolized by solely state-owned highway corporations (or highway authorities) at different levels (e.g., provincial level, city level, and district level). Devil is in the details ROADIS disputes such a characterization of its proposed involvement with E-470. Hence, the finalized multilevel operation management system comprises the group company or highway authority, branch office or management office, toll management stations, and toll stations or overload control stations. [56] contend that toll highways should be operated as enterprises through a shareholding reform to prevent various problems (e.g., ambiguity of power and responsibility, confusion about the functions of governments and enterprises, policy conflict between different departments, and inefficiency); Liu et al. Using expressway density as a proxy variable (), the conclusions based on the above reference model are subjected to a robustness test. Existing studies and evidence show that the economic performance of governmental loan-repayment highway enterprises is the worst in the toll highway sector (in 2018, governmental loan-repayment highways alone incurred an income deficit of 201.85 billion yuan), and such enterprises are universally insufficiently-motivated to reduce costs and improve efficiency. Designated as the USAs first superhighway, the PA Turnpike was opened to motorists in 1940. The network DEA model is deep inside the decision-making unit in evaluating the subsystem, and the difficulty is to give weight to the initial investment [63]. WebToll road companies operating under long-term concession agreements have developed and now operate nearly all of the urban expressway capacity added since the early 1990s in the country's two largest cities, Melbourne and Sydney. 10, pp. Q. Li, P. R. Bai, Y. Chen, and X. Wei, Efficiency evaluation of bus transport operations given exogenous environmental factors, Journal of Advanced Transportation, vol. 11, p. 2947, 2020. B. H. Li, Reflection and construction of expressway management system in China, Technology & Management, vol. In that year, the federal Interstate Highway System was established, funding non-toll roads with 7, pp. However, the positive effect is weakened by fiscal decentralization. China's road operators left battered by no-toll policy. Available: https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Distribution of toll road mileage in China as of 2020, by road type, Available to download in PNG, PDF, XLS format, Fixed asset investment in China's highway 2016-2021, Investments in China's rail infrastructure 2009-2021, Investment in Chinese civil aviation's infrastructure 2014-2021, Fixed asset investment in China's waterways 2016-2021, Forecast: estimated value of investment in new transport infrastructure in China 2020, Length of roads in China 2018-2021, by road type, Number of road tunnels in China 2010-2021, Rail network length development in China 2010-2021, Rail network length in China 2020, by region, Length of express railways in China 2008-2021, Length of express railways by leading provinces in China 2021, Top cities in China with 10 or more high-speed railway stations 2021, Leading airports in China 2021, by take-offs and landings, Number of certified GA airports in China 2021, by region, Length of civil aviation routes in China 1995-2020, Inland waterway length in China 2021, by river, Length of navigable waterways in China 2020, by region, Number of berths for production in China's ports 2010-2021, by port type, Number of berths in coastal and river ports in China 2021, by cargo volume, Number of berths in main coastal ports in China 2020, by use type, Number of berths in main ports of inland rivers in China 2020, by type, Quay length in China's main coastal ports 2020, by use type, Distribution of toll road mileage China 2017-2020, by ownership, Share of toll roads in the total road network in China 2014-2020, French tolled motorway network length 2001-2018, Annual revenue from toll road passage fees in China 2010-2020, Length of road bridges on expressways South Korea 2021, by province, United Kingdom (UK): timeline of total motorway length 1990-2017, Combined length of motorways in Germany 1990-2018, Combined length of motorways in Sweden 1990-2018, Number of motorways toll payment systems in Italy 2015-2018, by type of payment, National highways South Korea 2021, by type, Dirt road length in Saudi Arabia 2019, by region, Combined length of motorways in Denmark 1990-2018, Revenue of toll roads & weigh stations in the U.S., 2008-2013, U.S. toll roads - average toll per transaction 2011-2012, Find your information in our database containing over 20,000 reports. Chart. 126139, 2016. 173, 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 Wei et al. Across different parameter estimation and statistical inference methods, the estimated values and significance levels of the main parameters are approximated to each other. The use of an administrative monopoly not only incurs transaction costs but also reaps corresponding revenue.
X. H. Li, J. Q. Qin, and L. Sun, Model empirical study of relationship between dynamic changes of commercial bank total factor productivity and the operating environment, Governance Structure, vol. For the construction of toll roads, charge management, maintenance, service area operations, etc., the market mechanisms can play a role, and the effective allocation of economic resources should be returned to the market to ensure the priority role of the market mechanisms in resource allocation. The academic literature widely accepts that highway infrastructure can promote regional economic development. [13]; (2) investigation of economic efficiency based on the basic principle of no waste of resources by integrating X-inefficiency with technology efficiency, allocation efficiency, and scale efficiency, Pu et al. Private toll roads have a long history in the United States and Europe. 4, pp. 1623, 2019. You need at least a Starter Account to use this feature. 2020, Article ID 8885308, 2020. In, Ministry of Transport of China. 1, pp. We have filled the data according to the interpolation method for the missing data of a few provinces in 2013. 9, pp. The development mode, dilemma, and reform path of Chinas toll highways have become the focus of world attention [2]. As of 2020, toll highways with a passage fee in China, accounted for 85.3 percent of the overall toll The concession expiry clock is ticking for China's listed highway operators. 308, no. Regionally, the average operating efficiency of central provinces from 2013 to 2017 is 1.0524, which is higher than that of the rest of the country. 7, pp. 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. X. Wei, H. C. Xu, B. Q. Zhang, and J. L. Li, Infrastructure operation efficiency and influential factors in developing countries: evidence from China, Sustainability, vol. China's toll road sector is facing two lanes of trouble. X. L. You and S. H. Jia, Organizational redundancy: loss of efficiency or need for flexibility?, South China Journal of Economics, vol. At the initial stage of reform and opening-up, Chinas economic development first encountered a severe shortage of infrastructure.
Out of all commercially operational toll roads, PT Jasa Marga (Persero) Tbk is dominating the market with 60% market share. To resolve the problem, the first step is to ascertain the cause of debt accumulation in the sector. The first is the ratio of the scale of governmental loan-repayment toll highways to the total scale of toll highways, since governmental loan-repayment toll highways are affected by administrative monopoly more significantly in terms of fund source, debt structure, and operation, compared with operating toll highways. Hypothesis 2 is corroborated from the perspective of the sector structure. You can only download this statistic as a Premium user. 13, no. Please create an employee account to be able to mark statistics as favorites. Annual average operating efficiency and index breakdown by province between 2013 and 2017 (with 2010 as the base period). [32] used absolute market concentration and relative market concentration to represent the administrative monopoly degree of civil aviation transportation industry, and empirically tested the relationship between administrative monopoly and production efficiency. The nonparametric method is represented by data envelopment analysis (DEA).
63, no. Moreover, the unique operational organization of the toll road industry with a strong administrative monopoly power is the key to the above problems. Hong Kong, November 09, 2020 -- Moody's Investors Service has affirmed the ratings of six toll road companies and their rated subsidiaries in China. 22, no. China for three decades, creating a close linkage between subnational investment and revenue claims on tolled roads. As a result, the length of highway sections varies significantly, and the highway section operated by a small-scale branch office can be as short as a few dozen kilometers; hence, it is very difficult to allow full play to scale efficiency. 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 . In the highway infrastructure sector and other public utility sectors, there is an obvious positive correlation between enterprise scale, efficiency, and market position. The DEA model from the perspective of the black box ignores the internal structure and production process of the decision-making unit (DMU), so the network DEA emerges as required over time. Xu et al. The estimated coefficient is positive but not statistically significant. This is the first time a foreign entity has held so many of our roads in American history. Song, G. P. Li, and Y. X. Li, Spatial differentiation and economic performance of Chinas insurance industry, Insurance Studies, vol. May 29, 2021. A number of levels and institutions have been set up, and the increase in economies of scale is first shackled by the operating system. This work was supported by National Natural Science Foundation of China (grant nos. Table 6 lists the parameter estimation results of equation (6) when the ratio of general budget expenditure in local public finance to regional gross domestic product is used as the proxy variable of administrative monopoly. 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China's road operators left battered by no-toll policy. Available: https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Distribution of toll road mileage in China as of 2020, by road type, Available to download in PNG, PDF, XLS format, Fixed asset investment in China's highway 2016-2021, Investments in China's rail infrastructure 2009-2021, Investment in Chinese civil aviation's infrastructure 2014-2021, Fixed asset investment in China's waterways 2016-2021, Forecast: estimated value of investment in new transport infrastructure in China 2020, Length of roads in China 2018-2021, by road type, Number of road tunnels in China 2010-2021, Rail network length development in China 2010-2021, Rail network length in China 2020, by region, Length of express railways in China 2008-2021, Length of express railways by leading provinces in China 2021, Top cities in China with 10 or more high-speed railway stations 2021, Leading airports in China 2021, by take-offs and landings, Number of certified GA airports in China 2021, by region, Length of civil aviation routes in China 1995-2020, Inland waterway length in China 2021, by river, Length of navigable waterways in China 2020, by region, Number of berths for production in China's ports 2010-2021, by port type, Number of berths in coastal and river ports in China 2021, by cargo volume, Number of berths in main coastal ports in China 2020, by use type, Number of berths in main ports of inland rivers in China 2020, by type, Quay length in China's main coastal ports 2020, by use type, Distribution of toll road mileage China 2017-2020, by ownership, Share of toll roads in the total road network in China 2014-2020, French tolled motorway network length 2001-2018, Annual revenue from toll road passage fees in China 2010-2020, Length of road bridges on expressways South Korea 2021, by province, United Kingdom (UK): timeline of total motorway length 1990-2017, Combined length of motorways in Germany 1990-2018, Combined length of motorways in Sweden 1990-2018, Number of motorways toll payment systems in Italy 2015-2018, by type of payment, National highways South Korea 2021, by type, Dirt road length in Saudi Arabia 2019, by region, Combined length of motorways in Denmark 1990-2018, Revenue of toll roads & weigh stations in the U.S., 2008-2013, U.S. toll roads - average toll per transaction 2011-2012, Find your information in our database containing over 20,000 reports. Chart. 126139, 2016. 173, 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 Wei et al. Across different parameter estimation and statistical inference methods, the estimated values and significance levels of the main parameters are approximated to each other. The use of an administrative monopoly not only incurs transaction costs but also reaps corresponding revenue.