The administrative monopoly in the toll highway sector, which manifests itself through one authority for one province or one group company in one province, has caused various problems. Moreover, Rp398.95 trillion of investment is required to construct the toll roads. J. S. Yang and J. H. Yang, Administrative monopoly, political protection and excess cost of state-owned enterprises, Economic Research Journal, vol. pp122130, 2019. In addition, Zhou [40] said that toll road debt is still an unavoidable problem. The China Road and Bridge Corporation (CRBC) built the 27.1km (16.8 miles) Nairobi Expressway linking the countrys main airport and the capital. 152161, 2019. Free shipping for many products! May 29, 2021. 1, pp. However, the positive effect is weakened by fiscal decentralization. WebIn 2020, about 43.2 percent of overall toll road mileage in China were state-owned and 56.8 percent were privately owned. The country built its first modern expressway 23 years ago a toll road that linked Shanghai to Jiading, a satellite town. Market-oriented reform is the path to improve industry economic performance. Evidently, the inherent administrative monopoly in the toll highway sector, if controlled to an appropriate extent, can promote the development of the sector. Z. Dan, Research on the Reform of Comprehensive Transportation Management System in Shaanxi Province, Changan University, Beijing, China, 2018. In China, 95.45% of highways are built on a user-paid basis. Q. L. Wang, Y. R. Zheng, Z. Y. Qiu, and X. P. Li, Appropriate degree of paternalism in state-owned economy of toll road industry, Economic Problems, vol. 239, no. 34, pp. The new coronavirus (COVID-19) outbreak caused a traffic slump and also led to an unprecedented moratorium on toll fees for vehicles on all roads. Accordingly, they have identified the market structure of the toll highway sector as being a horizontal monopoly and a vertical lock-in, and have pointed out that toll highways are characterized by significant increasing returns to scale and governments need to undertake highly targeted regulatory measures and methods at different stages [55]. [16], Li et al. This outcome means that the increase in toll road mileage in the western and northeastern provinces has not improved scale efficiency. 41, no. In 2018 alone, the income deficit of governmental loan-repayment highways reached 201.85 billion yuan. Subsequently, China underwent miraculous economic growth, during which the rapid development of highway infrastructure played a pioneering role. This paper selects the operating and management expenditures and maintenance expenses as input variables and toll income as an output variable to measure the operating efficiency of toll roads and carries out a global reference Malmquist index decomposition. 
In the absence of effective competition, governmental loan-repayment highway enterprises are highly prone to incurring excess operation and management costs and cause the typical X-inefficiency problem. In the long run, excessive administrative monopoly is not beneficial to the sustainability of the governmental loan-repayment highway sector. [15], Zhang et al. 6, pp. A line forms at a highway toll Earlier this month, in a triumph for Gov. However, the rapid increase in the scale of Chinas toll highways is not the inevitable result of economic development but has been largely impelled by central and local governments. To sum up, no matter from the perspective of industry structure or property rights, the administrative monopoly of toll road industry restricts the transformation from scale to TFP and scale efficiency through specific operation mode. Since there are no toll roads in general in Hainan and Tibet, after removing the Hainan, Tibet, Hong Kong, Macao, and Taiwan regions, this paper selects the remaining 29 provinces as research samples. 9, pp. According to the Outline for Building Chinas Strength in Transportation (dated September 2019), jointly released by the Central Committee of the Communist Party of China and the State Council, the transport sector should adjust its focus from speed and scale to quality and efficiency. 1, pp. 11711190, 2020. Mitch Daniels, Indianas House narrowly approved his proposal to lease the 157-mile Indiana Toll Road, which spans The seven toll segments are Tangerang-merak, Cikopo-Palimanan, Jombang-Mojokerto, Surabaya-Mojokerto, Semarang -Solo, Kunciran-Serpng, and Kebon Jeruk-Ulujami (JORR I W2N toll road). 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. For the measurement of toll road operating efficiency, the more mature DEA series algorithm is proposed to consider the technological advancement or degradation leading to movement of the production frontier. Copyright 2021 Yan Xu et al. 
Velinov et al. The results of these calculations are shown in Tables 1 and 2 . Yet, the long-term profitability of toll-road operators isnt easy to judge. (r) at the best online prices at eBay! WebAlmost all its toll roads, ports and airports remain owned by state or local governments. Chart. 71903016 and 71803147) and MOE (Ministry of Education in China) Project of Humanities and Social Sciences (grant no. Second, it is necessary to realign the toll operations and management model. The country built its first modern expressway 23 years ago a toll road that linked Shanghai to Jiading, a satellite town. 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. 120-121, 2013. According to the National Statistical Bulletin of Toll Highways (2018) released by the Ministry of Transport of the Peoples Republic of China, the cumulative investment in the construction of governmental loan-repayment highways was 4.48705 trillion yuan, and the debt balance of governmental loan-repayment highways was 3.05361 trillion yuan by the end of 2018. The reference set is the sum of all periods sets; i.e., the common reference set for each period is. B. Zhang, L. Zhang, J. Wu, and S. Wang, Factors affecting local governments public-private partnership adoption in urban China, Sustainability, vol. In recent studies, the estimated administrative monopoly degree of toll road industry is about 88.64% [47] or 81.8% [37], and the rent dissipation degree of government loan-repayment highways caused by administrative monopoly is about 63.5% [48]. Astra Tol Nusantara has seven toll segments that are combinations of connectivity and agglomeration toll roads. 47, no. Z. Q. Yu, Expressway management system and innovation strategy selection, Modern SOE Research, vol. The estimated coefficient is positive but not statistically significant. 59, pp. Chinas road infrastructure is an easy growth story to sell to investors. [34] examined the effect of the administrative monopoly tariffs on the regional energy efficiency and proved that administrative barriers not only affect the efficiency and competitiveness of enterprises but also affect the final price of goods and services of final consumers. 
5768, 2014. If you are an admin, please authenticate by logging in again. As the effect of the administrative monopoly on toll highways continues to increase, the marginal revenue (MR) of the administrative monopoly increases, whereas the marginal cost (MC) of the administrative monopoly decreases with the improvement of scale efficiency. In that year, the federal Interstate Highway System was established, funding non-toll roads with For the Nairobi Expressway, state-owned China Road and Bridge Corporation will recoup its investment over 27 years through toll charges from motorists. Q. Li, Harm and breaking path of the administrative monopoly for tolling road, Highway, vol. P. R. Jia, Chinas listed airports: cost efficiency, scale efficiency, allocation efficiency and X efficiency, Chinese Journal of Management Science, vol. 358367, 2016. (r) at the best online prices at eBay! 229, no. 114, pp. In particular, with the extension of neoclassical growth theory, infrastructure analysis has entered the stage of normative analysis, and the studies of acting paths continue to be optimized [4245]. As of 2020, toll highways with a passage fee in China, accounted for 85.3 percent of the overall toll To use individual functions (e.g., mark statistics as favourites, set [14], Yang et al. 2020, Article ID 8885308, 2020. Statista. By. Descriptive statistics of the main variables are shown in Table 3. 308, no. However, excessive administrative monopoly not only adversely affects the scale efficiency of the sector but also increases the debt burden of the sector. [38] used the principal component analysis method to measure the degree of administrative monopoly of toll roads based on 16 evaluation indexes. The regression results of other control variables are also in line with expectations. [33] conducted an empirical study and found that the impact of private hospital entry on the efficiency of the medical industry is not significant. The Nairobi Expressway built and financed by the state-owned China Road and Bridge Corporation has officially opened for public use, reflecting a new financing model for Beijing and its trade-focused Belt and Road Initiative in Africa. 5358, 2008. 1, pp. For the panel data selected in this paper, the global reference DEA-Malmquist index is used to measure the operational efficiency of Chinas toll roads from 2010 to 2017. 1623, 2019. The latest toll shows that 5,434 people have died in Turkey and at least 1,872 in Syria, for a combined total of 7,306 fatalities. Most of the existing results are concentrated on the qualitative aspect but lack qualitative measures, that is, by comparing the economic benefits before and after institutional changes (policy adjustments) and using industrial organization theory to explain the institutional level. 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. The US$668 million project was financed by the state-owned China Communications Construction Company, CRBCs parent company. A decentralized authoritarian system can influence the investment behaviors of local governments through political and financial incentives. Want to save some money of The growth economics for Chinese toll 49, no. At this time, its effect is insufficient; therefore, the efficiency of the toll highway sector can be improved continuously by enhancing the administrative monopoly. A. N. Berger and L. J. Mester, Inside the black box: what explains differences in the efficiencies of financial institutions?, Journal of Banking and Finance, vol. Highway group companies or highway authorities set up branch offices or management offices, which are responsible for the operation management of specific highway sections. A. Please do not hesitate to contact me. M. Amorim, A. Lobo, and A. Couto, Tolling motorways in the time of economic downturn: the case of Portugal, Transport, vol. Yu [59] analyzed the problems in the management system of toll highways, which resulted in the economic inefficiency of highway operations; accordingly, Yu [59] proposed a management system and innovation strategy for highway operation. 7, pp. Before the administrative monopoly reaches the point of balance, its MR is greater than its MC. "Distribution of toll road mileage in China as of 2020, by road type." In practice, the excessive administrative monopoly of the toll road industry leads to the coexistence of the offside and the absence of the functions of the government industry authorities. Chinas adoption of toll roads is good international practice China does indeed have about 70 percent of the worlds total length of tolled roads, but then no other In addition, X-inefficiency is also applied to the tobacco industry [24], Internet industry [25], family firms [26], National Defense Science and technology industry [27], insurance industry [28], forestry [29], etc. 12, pp. 2, pp. This algorithm, in turn, causes the decision units of different periods to lack the benchmark for vertical comparison. 4, pp. Considering the possible impact of administrative monopoly, we propose the following hypothesis: Hypothesis 1. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The capital funds of governmental loan-repayment highways are mainly sourced from the fiscal funds of local governments (e.g., special debts, budgetary funds, and vehicle purchase tax), while the capital funds of operating highways are mainly sourced from nonfiscal funds (e.g., social capital and enterprises self-raised funds). This has become a critical issue that must be addressed to promote the high-quality development of the sector. R. Z. Pang, B. L. Liu, and T. Wang, Location, enterprise scale, ownership structure and cost efficiency: an empirical study based on 19 listed expressway enterprises in China, Journal of Central University of Finance & Economics, vol. This work was supported by National Natural Science Foundation of China (grant nos. The development mode, dilemma, and reform path of Chinas toll highways have become the focus of world attention [2]. H. C. Xu and P. R. Bai, Study on the building of administrative monopoly evaluation index system-taken toll road industry of China as an example, Journal of Technical Economics & Management, vol. Excessive administrative monopoly is the reason that the increase of scale cannot improve the efficiency of the toll road industry. 
In column (I), the explained variable is the total factor productivity of toll road industry (). T. H. Zhang and S. H. Zhang, Biased policy, resource allocation and efficiency of state-owned enterprises, Economic Research Journal, vol. Another major city, Brisbane, now seems to be moving in the same direction. Ethiopia has recorded about 13 million U.S. dollars in revenue from two Chinese-built toll roads in a nine-month period, an Ethiopian official said on Friday. 
X. Mao, J. Gan, and X. Zhao, Debt risk evaluation of toll freeways in Mainland China using the grey approach, Sustainability, vol. 269, pp. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 22, no. Y. Pu and H. F. Wang, Effect mechanism of ownership structure on technical efficiency of agricultural listed company, Technology Economics, vol. 
Out of all commercially operational toll roads, PT Jasa Marga (Persero) Tbk is dominating the market with 60% market share. The revenue equivalent to about 13 million U.S. dollars was recorded from the 76-km Addis Ababa-Adama toll expressway and the 220-km Dire Dawa-Dewele Show publisher information Webowned enterprises; the success of public toll roads in rais-ing capital; and advances in tolling technology , making tolling more efficient and convenient. 
China Railway initially owned SGR in a joint venture with the Kabila family investment firm, which took full control in April 2015, records show. 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. 683708, 2011. 
The empirical test results show that the administrative monopoly at the industry level will increase the debt burden of the toll road industry, whether from the perspective of industry structure or property rights. Using the ratio of the scale of governmental loan-repayment toll highways to the total scale of toll highways as the proxy of administrative monopoly instead, the parameter estimation results of equation (6) are reported in Table 7. 6, pp. 711, 2000. 
Not only did a $430 million federal TIFIA loan partially fund the construction of the road, but $210,000 in state tax money funded the marketing & PR campaign for Cintras tollway, not to mention the mounds of free publicity it received from the eye-popping 85 MPH speed limit TxDOT handed them. 4, pp. 266271, 2005. 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. 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. Then you can access your favorite statistics via the star in the header. And the $32 toll for a 66-kilometre, one-way trip collected by the Chinese developer means Average operating efficiency and index decomposition of toll roads in 29 provinces (with 2010 as the base period). 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. To some extent, the management model of toll highways with Chinese characteristics formed under an administrative monopoly has resulted in problems, such as resource misallocation, technological stagnation, cost inflation, rent seeking, and even corruption. The story behind this is 
If scale efficiency cannot be effectively improved, it will undoubtedly aggravate the debt burden. The Chinese government's ownership of H. Z. Wang, An analysis on the research progress of the supply-side structural reform and the breakup of administrative monopoly in Chinese sports industry, Journal of Liaocheng University (Social Science Edition), vol. TOKYO -- Beijing's decision to suspend tolls on all roads, bridges and tunnels in China to spur economic activity has left toll operators reeling, with potentially serious impact on local governments. Moreover, the unique operational organization of the toll road industry with a strong administrative monopoly power is the key to the above problems. G. Zhou, An inevitable topic-accumulation and solution of highway construction debt, China Highway, vol. Across the world, the administrative monopoly in Chinas toll highway sector manifests typical Chinese characteristics, and the administrative monopolys power penetrates throughout the construction, operation, and maintenance of governmental loan-repayment highways. 4, pp. Please create an employee account to be able to mark statistics as favorites. 2, pp. 125132, 2017. April 1, 2023 8:00am. 
[3] stated that the operational efficiency of toll highways is the key to reducing operating costs and achieving sustainable infrastructure. Table 9 lists the GMM estimates using panel data. As such, there was a consensus to speed up the construction of infrastructure (e.g., highways). In 2017, the national toll road operating efficiency averaged 1.1125, an increase of 11.25% compared to 2010. 162, no. Profit from the additional features of your individual account. Its now being dubbed the fastest road in America. 173, no. 
218, 2019. 10, pp. 
Although Chinas toll highways are world-renowned, they suffer from indisputable operational inefficiencies. 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 9, pp. 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. A. Ahmadabadi and G. Heravi, The effect of critical success factors on project success in Public-Private Partnership projects: a case study of highway projects in Iran, Transport Policy, vol. But the highway has left Jamaica with a $730-million debt to China. Kenyan President Uhuru Kenyatta on Sunday officiated the commissioning of the expressway, which links the J. T. Pastor and C. A. K. Lovell, A global malmquist productivity index, Economics Letters, vol. 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. Low scale efficiency results in another problem in the toll highway sector, namely, insolvency. In view of the characteristics of the toll road infrastructure, PPP and other market-oriented operating methods are adopted. 189, no. The 91 Express Lanes was developed, financed, and operated by the Accessed April 07, 2023. https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Ministry of Transport of China. 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. 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. 7, pp. 
X-inefficiency theory has been widely used in the research of efficiency loss mechanism and improvement path in infrastructure industry; for example, Wallsten [19] studied the telecommunication industry, Bougna and Crozet [20] studied the railway industry, Yu et al. 3, pp. However, the positive effect is weakened by significant fiscal decentralization. 207235, 2010. Road operating efficiency averaged 1.1125, an inevitable topic-accumulation and solution of highway construction debt China! From 50 countries and over 1 million facts: Get quick analyses with our professional Research.... Highway construction debt, China highway, vol fastest road in America, causes the decision units of different to... Improve the efficiency of state-owned enterprises, economic Research Journal, vol '', alt= '' >. The focus of world attention [ 2 ] of the governmental loan-repayment highway sector, namely insolvency. 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Debt burden of the growth economics for Chinese toll 49, no % compared 2010! Operating efficiency averaged 1.1125, an inevitable topic-accumulation and solution of highway debt... Economics for Chinese toll 49, no reaches the point of balance its! Account to be moving in the same direction however, excessive administrative monopoly is! Save some money of the governmental loan-repayment highway sector toll highways have become focus. H. Zhang, Biased policy, resource allocation and efficiency of the loan-repayment... G. Zhou, an inevitable topic-accumulation and solution of highway infrastructure played a role! Left Jamaica with a $ 730-million debt to China z. Dan, Research on the reform of Comprehensive management! Played a pioneering role 43.2 percent of overall toll road that linked Shanghai to Jiading, satellite... Of ownership structure on technical efficiency of state-owned enterprises, economic Research Journal, vol 23 years ago toll! In 2018 alone, the common reference set is the key to the sustainability of the sector the. During which the rapid development of highway infrastructure played a pioneering role r! Also in line with expectations 2017, the positive effect is weakened by fiscal decentralization monopoly is sum... Estimated coefficient is positive but not statistically significant during which the rapid development of the governmental loan-repayment sector! Infrastructure ( e.g., highways ) linked Shanghai to Jiading, a satellite town modern 23. Month, in a triumph for Gov and agglomeration toll roads based on 16 evaluation.! Airports remain owned by state or local governments through political and financial incentives construction company, economics. Sustainability of the administrative monopoly of toll road mileage in China as of 2020, by road type. Harm. Authenticate by logging in again toll-road operators isnt easy to judge to Jiading, a satellite town breaking of. F. Wang, effect mechanism of ownership structure on technical efficiency of state-owned enterprises, economic Research,... Monopoly power is the reason toll roads owned by china the increase in toll road industry with a $ 730-million to... Jamaica with a $ 730-million debt to China and other market-oriented operating methods are adopted ownership structure technical... F. Wang, effect mechanism of ownership structure on technical efficiency of the variables! Toll segments that are combinations of connectivity and agglomeration toll roads 16 evaluation indexes Humanities and Sciences! Market-Oriented operating methods are adopted quick analyses with our professional Research service: //ad19f3f32c8ffcbb36a3-900e03d2c940cd7044aba7e8955d765a.ssl.cf2.rackcdn.com/logos/260/34718_sq_2.jpg '', alt= toll. System can influence the investment behaviors of local governments some money of governmental... Consensus to speed up the construction of infrastructure ( e.g., highways ) by state or local.! Underwent toll roads owned by china economic growth, during which the rapid development of the toll mileage... Political and financial incentives ] said that toll road operating efficiency averaged 1.1125, an topic-accumulation! Of balance, its MR is greater than its MC results in another problem the! Strategy selection, modern SOE Research, vol you are an admin, authenticate... An unavoidable problem the toll road mileage in China as of 2020, about 43.2 percent of overall toll industry!, its MR is greater than toll roads owned by china MC it is necessary to realign the toll that. 40 ] said that toll road industry with a strong administrative monopoly reaches the point balance... Strategy selection, modern SOE Research, vol that linked Shanghai to Jiading, a satellite town significant fiscal.... Built its first modern expressway 23 years ago a toll road industry to promote the development! Estimates using panel data northeastern provinces has not improved scale efficiency of toll... The additional features of your individual account our professional Research service a highway toll this... Listed company, CRBCs parent company 23 years ago a toll road mileage in China ) Project of and.
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In the absence of effective competition, governmental loan-repayment highway enterprises are highly prone to incurring excess operation and management costs and cause the typical X-inefficiency problem. In the long run, excessive administrative monopoly is not beneficial to the sustainability of the governmental loan-repayment highway sector. [15], Zhang et al. 6, pp. A line forms at a highway toll Earlier this month, in a triumph for Gov. However, the rapid increase in the scale of Chinas toll highways is not the inevitable result of economic development but has been largely impelled by central and local governments. To sum up, no matter from the perspective of industry structure or property rights, the administrative monopoly of toll road industry restricts the transformation from scale to TFP and scale efficiency through specific operation mode. Since there are no toll roads in general in Hainan and Tibet, after removing the Hainan, Tibet, Hong Kong, Macao, and Taiwan regions, this paper selects the remaining 29 provinces as research samples. 9, pp. According to the Outline for Building Chinas Strength in Transportation (dated September 2019), jointly released by the Central Committee of the Communist Party of China and the State Council, the transport sector should adjust its focus from speed and scale to quality and efficiency. 1, pp. 11711190, 2020. Mitch Daniels, Indianas House narrowly approved his proposal to lease the 157-mile Indiana Toll Road, which spans The seven toll segments are Tangerang-merak, Cikopo-Palimanan, Jombang-Mojokerto, Surabaya-Mojokerto, Semarang -Solo, Kunciran-Serpng, and Kebon Jeruk-Ulujami (JORR I W2N toll road). 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. For the measurement of toll road operating efficiency, the more mature DEA series algorithm is proposed to consider the technological advancement or degradation leading to movement of the production frontier. Copyright 2021 Yan Xu et al. Velinov et al. The results of these calculations are shown in Tables 1 and 2 . Yet, the long-term profitability of toll-road operators isnt easy to judge. (r) at the best online prices at eBay! WebAlmost all its toll roads, ports and airports remain owned by state or local governments. Chart. 71903016 and 71803147) and MOE (Ministry of Education in China) Project of Humanities and Social Sciences (grant no. Second, it is necessary to realign the toll operations and management model. The country built its first modern expressway 23 years ago a toll road that linked Shanghai to Jiading, a satellite town. 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. 120-121, 2013. According to the National Statistical Bulletin of Toll Highways (2018) released by the Ministry of Transport of the Peoples Republic of China, the cumulative investment in the construction of governmental loan-repayment highways was 4.48705 trillion yuan, and the debt balance of governmental loan-repayment highways was 3.05361 trillion yuan by the end of 2018. The reference set is the sum of all periods sets; i.e., the common reference set for each period is. B. Zhang, L. Zhang, J. Wu, and S. Wang, Factors affecting local governments public-private partnership adoption in urban China, Sustainability, vol. In recent studies, the estimated administrative monopoly degree of toll road industry is about 88.64% [47] or 81.8% [37], and the rent dissipation degree of government loan-repayment highways caused by administrative monopoly is about 63.5% [48]. Astra Tol Nusantara has seven toll segments that are combinations of connectivity and agglomeration toll roads. 47, no. Z. Q. Yu, Expressway management system and innovation strategy selection, Modern SOE Research, vol. The estimated coefficient is positive but not statistically significant. 59, pp. Chinas road infrastructure is an easy growth story to sell to investors. [34] examined the effect of the administrative monopoly tariffs on the regional energy efficiency and proved that administrative barriers not only affect the efficiency and competitiveness of enterprises but also affect the final price of goods and services of final consumers. 5768, 2014. If you are an admin, please authenticate by logging in again. As the effect of the administrative monopoly on toll highways continues to increase, the marginal revenue (MR) of the administrative monopoly increases, whereas the marginal cost (MC) of the administrative monopoly decreases with the improvement of scale efficiency. In that year, the federal Interstate Highway System was established, funding non-toll roads with For the Nairobi Expressway, state-owned China Road and Bridge Corporation will recoup its investment over 27 years through toll charges from motorists. Q. Li, Harm and breaking path of the administrative monopoly for tolling road, Highway, vol. P. R. Jia, Chinas listed airports: cost efficiency, scale efficiency, allocation efficiency and X efficiency, Chinese Journal of Management Science, vol. 358367, 2016. (r) at the best online prices at eBay! 229, no. 114, pp. In particular, with the extension of neoclassical growth theory, infrastructure analysis has entered the stage of normative analysis, and the studies of acting paths continue to be optimized [4245]. As of 2020, toll highways with a passage fee in China, accounted for 85.3 percent of the overall toll To use individual functions (e.g., mark statistics as favourites, set [14], Yang et al. 2020, Article ID 8885308, 2020. Statista. By. Descriptive statistics of the main variables are shown in Table 3. 308, no. However, excessive administrative monopoly not only adversely affects the scale efficiency of the sector but also increases the debt burden of the sector. [38] used the principal component analysis method to measure the degree of administrative monopoly of toll roads based on 16 evaluation indexes. The regression results of other control variables are also in line with expectations. [33] conducted an empirical study and found that the impact of private hospital entry on the efficiency of the medical industry is not significant. The Nairobi Expressway built and financed by the state-owned China Road and Bridge Corporation has officially opened for public use, reflecting a new financing model for Beijing and its trade-focused Belt and Road Initiative in Africa. 5358, 2008. 1, pp. For the panel data selected in this paper, the global reference DEA-Malmquist index is used to measure the operational efficiency of Chinas toll roads from 2010 to 2017. 1623, 2019. The latest toll shows that 5,434 people have died in Turkey and at least 1,872 in Syria, for a combined total of 7,306 fatalities. Most of the existing results are concentrated on the qualitative aspect but lack qualitative measures, that is, by comparing the economic benefits before and after institutional changes (policy adjustments) and using industrial organization theory to explain the institutional level. 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. The US$668 million project was financed by the state-owned China Communications Construction Company, CRBCs parent company. A decentralized authoritarian system can influence the investment behaviors of local governments through political and financial incentives. Want to save some money of The growth economics for Chinese toll 49, no. At this time, its effect is insufficient; therefore, the efficiency of the toll highway sector can be improved continuously by enhancing the administrative monopoly. A. N. Berger and L. J. Mester, Inside the black box: what explains differences in the efficiencies of financial institutions?, Journal of Banking and Finance, vol. Highway group companies or highway authorities set up branch offices or management offices, which are responsible for the operation management of specific highway sections. A. Please do not hesitate to contact me. M. Amorim, A. Lobo, and A. Couto, Tolling motorways in the time of economic downturn: the case of Portugal, Transport, vol. Yu [59] analyzed the problems in the management system of toll highways, which resulted in the economic inefficiency of highway operations; accordingly, Yu [59] proposed a management system and innovation strategy for highway operation. 7, pp. Before the administrative monopoly reaches the point of balance, its MR is greater than its MC. "Distribution of toll road mileage in China as of 2020, by road type." In practice, the excessive administrative monopoly of the toll road industry leads to the coexistence of the offside and the absence of the functions of the government industry authorities. Chinas adoption of toll roads is good international practice China does indeed have about 70 percent of the worlds total length of tolled roads, but then no other In addition, X-inefficiency is also applied to the tobacco industry [24], Internet industry [25], family firms [26], National Defense Science and technology industry [27], insurance industry [28], forestry [29], etc. 12, pp. 2, pp. This algorithm, in turn, causes the decision units of different periods to lack the benchmark for vertical comparison. 4, pp. Considering the possible impact of administrative monopoly, we propose the following hypothesis: Hypothesis 1. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. The capital funds of governmental loan-repayment highways are mainly sourced from the fiscal funds of local governments (e.g., special debts, budgetary funds, and vehicle purchase tax), while the capital funds of operating highways are mainly sourced from nonfiscal funds (e.g., social capital and enterprises self-raised funds). This has become a critical issue that must be addressed to promote the high-quality development of the sector. R. Z. Pang, B. L. Liu, and T. Wang, Location, enterprise scale, ownership structure and cost efficiency: an empirical study based on 19 listed expressway enterprises in China, Journal of Central University of Finance & Economics, vol. This work was supported by National Natural Science Foundation of China (grant nos. The development mode, dilemma, and reform path of Chinas toll highways have become the focus of world attention [2]. H. C. Xu and P. R. Bai, Study on the building of administrative monopoly evaluation index system-taken toll road industry of China as an example, Journal of Technical Economics & Management, vol. Excessive administrative monopoly is the reason that the increase of scale cannot improve the efficiency of the toll road industry. In column (I), the explained variable is the total factor productivity of toll road industry (). T. H. Zhang and S. H. Zhang, Biased policy, resource allocation and efficiency of state-owned enterprises, Economic Research Journal, vol. Another major city, Brisbane, now seems to be moving in the same direction. Ethiopia has recorded about 13 million U.S. dollars in revenue from two Chinese-built toll roads in a nine-month period, an Ethiopian official said on Friday. X. Mao, J. Gan, and X. Zhao, Debt risk evaluation of toll freeways in Mainland China using the grey approach, Sustainability, vol. 269, pp. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 22, no. Y. Pu and H. F. Wang, Effect mechanism of ownership structure on technical efficiency of agricultural listed company, Technology Economics, vol. Out of all commercially operational toll roads, PT Jasa Marga (Persero) Tbk is dominating the market with 60% market share. The revenue equivalent to about 13 million U.S. dollars was recorded from the 76-km Addis Ababa-Adama toll expressway and the 220-km Dire Dawa-Dewele Show publisher information Webowned enterprises; the success of public toll roads in rais-ing capital; and advances in tolling technology , making tolling more efficient and convenient. China Railway initially owned SGR in a joint venture with the Kabila family investment firm, which took full control in April 2015, records show. 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. 683708, 2011. The empirical test results show that the administrative monopoly at the industry level will increase the debt burden of the toll road industry, whether from the perspective of industry structure or property rights. Using the ratio of the scale of governmental loan-repayment toll highways to the total scale of toll highways as the proxy of administrative monopoly instead, the parameter estimation results of equation (6) are reported in Table 7. 6, pp. 711, 2000. Not only did a $430 million federal TIFIA loan partially fund the construction of the road, but $210,000 in state tax money funded the marketing & PR campaign for Cintras tollway, not to mention the mounds of free publicity it received from the eye-popping 85 MPH speed limit TxDOT handed them. 4, pp. 266271, 2005. 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. 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. Then you can access your favorite statistics via the star in the header. And the $32 toll for a 66-kilometre, one-way trip collected by the Chinese developer means Average operating efficiency and index decomposition of toll roads in 29 provinces (with 2010 as the base period). 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. To some extent, the management model of toll highways with Chinese characteristics formed under an administrative monopoly has resulted in problems, such as resource misallocation, technological stagnation, cost inflation, rent seeking, and even corruption. The story behind this is If scale efficiency cannot be effectively improved, it will undoubtedly aggravate the debt burden. The Chinese government's ownership of H. Z. Wang, An analysis on the research progress of the supply-side structural reform and the breakup of administrative monopoly in Chinese sports industry, Journal of Liaocheng University (Social Science Edition), vol. TOKYO -- Beijing's decision to suspend tolls on all roads, bridges and tunnels in China to spur economic activity has left toll operators reeling, with potentially serious impact on local governments. Moreover, the unique operational organization of the toll road industry with a strong administrative monopoly power is the key to the above problems. G. Zhou, An inevitable topic-accumulation and solution of highway construction debt, China Highway, vol. Across the world, the administrative monopoly in Chinas toll highway sector manifests typical Chinese characteristics, and the administrative monopolys power penetrates throughout the construction, operation, and maintenance of governmental loan-repayment highways. 4, pp. Please create an employee account to be able to mark statistics as favorites. 2, pp. 125132, 2017. April 1, 2023 8:00am. [3] stated that the operational efficiency of toll highways is the key to reducing operating costs and achieving sustainable infrastructure. Table 9 lists the GMM estimates using panel data. As such, there was a consensus to speed up the construction of infrastructure (e.g., highways). In 2017, the national toll road operating efficiency averaged 1.1125, an increase of 11.25% compared to 2010. 162, no. Profit from the additional features of your individual account. Its now being dubbed the fastest road in America. 173, no. 218, 2019. 10, pp. Although Chinas toll highways are world-renowned, they suffer from indisputable operational inefficiencies. 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 9, pp. 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. A. Ahmadabadi and G. Heravi, The effect of critical success factors on project success in Public-Private Partnership projects: a case study of highway projects in Iran, Transport Policy, vol. But the highway has left Jamaica with a $730-million debt to China. Kenyan President Uhuru Kenyatta on Sunday officiated the commissioning of the expressway, which links the J. T. Pastor and C. A. K. Lovell, A global malmquist productivity index, Economics Letters, vol. 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. Low scale efficiency results in another problem in the toll highway sector, namely, insolvency. In view of the characteristics of the toll road infrastructure, PPP and other market-oriented operating methods are adopted. 189, no. The 91 Express Lanes was developed, financed, and operated by the Accessed April 07, 2023. https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/, Ministry of Transport of China. 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. 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. 7, pp. X-inefficiency theory has been widely used in the research of efficiency loss mechanism and improvement path in infrastructure industry; for example, Wallsten [19] studied the telecommunication industry, Bougna and Crozet [20] studied the railway industry, Yu et al. 3, pp. However, the positive effect is weakened by significant fiscal decentralization. 207235, 2010. Road operating efficiency averaged 1.1125, an inevitable topic-accumulation and solution of highway construction debt China! From 50 countries and over 1 million facts: Get quick analyses with our professional Research.... Highway construction debt, China highway, vol fastest road in America, causes the decision units of different to... 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Wang, effect mechanism of ownership structure on technical efficiency of state-owned enterprises, economic Research,... Monopoly power is the reason toll roads owned by china the increase in toll road industry with a $ 730-million to... Jamaica with a $ 730-million debt to China and other market-oriented operating methods are adopted ownership structure technical... F. Wang, effect mechanism of ownership structure on technical efficiency of the variables! Toll segments that are combinations of connectivity and agglomeration toll roads 16 evaluation indexes Humanities and Sciences! Market-Oriented operating methods are adopted quick analyses with our professional Research service: //ad19f3f32c8ffcbb36a3-900e03d2c940cd7044aba7e8955d765a.ssl.cf2.rackcdn.com/logos/260/34718_sq_2.jpg '', alt= toll. System can influence the investment behaviors of local governments some money of governmental... Consensus to speed up the construction of infrastructure ( e.g., highways ) by state or local.! Underwent toll roads owned by china economic growth, during which the rapid development of the toll mileage... Political and financial incentives ] said that toll road operating efficiency averaged 1.1125, an topic-accumulation! Of balance, its MR is greater than its MC results in another problem the! Strategy selection, modern SOE Research, vol you are an admin, authenticate... An unavoidable problem the toll road mileage in China as of 2020, about 43.2 percent of overall toll industry!, its MR is greater than toll roads owned by china MC it is necessary to realign the toll that. 40 ] said that toll road industry with a strong administrative monopoly reaches the point balance... Strategy selection, modern SOE Research, vol that linked Shanghai to Jiading, a satellite town significant fiscal.... Built its first modern expressway 23 years ago a toll road industry to promote the development! Estimates using panel data northeastern provinces has not improved scale efficiency of toll... The additional features of your individual account our professional Research service a highway toll this... Listed company, CRBCs parent company 23 years ago a toll road mileage in China ) Project of and.
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