This paper analyses the financial dimension of motorway concessions in Italy, where financial plans have been released after the collapse of the Morandi Bridge. It contributes to the stream of literature regarding the excess in profitability of PPP, which can undermine value for money of these transactions, and the crucial role of financial competence to support regulatory decisions. It also provides a methodology that can be applied by regulators to monitor contracts and reduce information asymmetry.
A regulatory disaster or a lack of skills? The 'non-value for money' of motorway concessions in Italy revealed after the Genoa bridge collapse
Vecchi, Veronica
;Cusumano, Niccolò
2020
Abstract
This paper analyses the financial dimension of motorway concessions in Italy, where financial plans have been released after the collapse of the Morandi Bridge. It contributes to the stream of literature regarding the excess in profitability of PPP, which can undermine value for money of these transactions, and the crucial role of financial competence to support regulatory decisions. It also provides a methodology that can be applied by regulators to monitor contracts and reduce information asymmetry.
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