Private provision of road infrastructure: Unveiling the inconvenient truth in New South Wales, Australia

Road and Transport Research

Volumn 18, Issue 1, 2009, Pages 68-85

  Chung, Demi ^a  

^a UNIVERSITY OF NEW SOUTH WALES   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

CONTRACT DESIGN; CONTRACTUAL RELATIONSHIPS; COST SAVING; INCENTIVE MECHANISM; NEW SOUTH WALES; NEW SOUTH WALES , AUSTRALIA; OPTIMAL RESULTS; PRIVATE PARTICIPATION; PRIVATE SECTORS; PUBLIC ACCOUNTABILITY; PUBLIC AND PRIVATE SECTOR; PUBLIC INTEREST; PUBLIC PERCEPTION; PUBLIC PRIVATE PARTNERSHIPS; ROAD INFRASTRUCTURES; TOLL ROAD; TRAFFIC FORECASTS;

INTERNET PROTOCOLS; MACHINE DESIGN; MOTOR TRANSPORTATION; PUBLIC RISKS; TOLL HIGHWAYS;

ROADS AND STREETS;

EID: 77950404133     PISSN: 10375783     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (64)

1. AKBIYIKLI, R, EATON, D, and TURNER, A (2006). Project finance and the Private Finance Initiative (PFI), Journal of Structured Finance, vol.12, no.2, pp. 67-75.
2. ARNDT, RH (1998). Risk allocation in the Melbourne City Link project, Journal of Project Finance, vol.4, no.3, pp. 11-24.
3. AZIZ, AMA (2007). A survey of the payment mechanisms for transportation DBFO projects in British Columbia, Construction Management and Economics, vol.25, no.5, pp. 529-543.
4. BCA (2005). Infrastructure action plan for future prosperity, Business Council of Australia, Melbourne, March 2005.
5. BROADBENT, J, and LAUGHLIN, R (2003) Control and legitimation in government accountability processes: the private finance initiative in the UK, Critical Perspectives on Accounting, vol.14, no.1-2, pp. 23-48
6. -(2004). PPPs: Nature, development and unanswered questions, Australian Accounting Review, vol.14, no.2, pp. 4-10.
7. - (2005). The role of PFI in the UK government's modernisation agenda, Financial Accountability and Management, vol.21, no.1, pp. 75-97.
8. BROWN, C (2005) Financing transport infrastructure: For whom the road tolls, Australian Economic Review, vol.38, no.4, pp. 431-438.
9. BUITELAAR, E, Van der HEIJDEN, R, and ARGIOLU, R (2007). Managing traffic by privatization of road capacity: A property rights approach, Transport Reviews, vol.27, no.6, pp. 699-713.
10. CITYLINK (1995). Agreement for the Melbourne City Link (Act No. 107/1995), Parliament of Victoria.
11. CLEGG, B, and POLJAK, V (2007). Sold: $700m Cross City Tunnel, Australian Financial Review, (Wednesday, 20 June 2007), Sydney, p.1, p.52.
12. DEBANDE, O (2002). Private financing of transport infrastructure, Journal of Transport Economics and Policy, vol.36, no.3, pp. 355-387.
13. DEMIRAG, I, DUBNICK, M, and KHADAROO, MI (2004). A framework for examining accountability and value for money in the UK's Private Finance Initiative, Journal of Corporate Citizenship, vol.Autumn, no.15, pp. 63-76.
14. DUFFIELD, CF (2001). An evaluation framework for privately funded infrastructure projects in Australia, PhD thesis, The University of Melbourne.
15. EDWARDS, P, SHAOUL, J, STAFFORD, A, and ARBLASTER, L (2004). Evaluating the operation of PFI in roads and hospitals, Certified Accountants Educational Trust (ACCA), London Research Report No. 84.
16. ENGLISH, L (2005). Evaluation and monitoring of Public Private Partnerships, Submission to the Legislative Assembly Public Accounts Committee Inquiry into Public Private Partnerships, Sydney, Sub. No.4.
17. - (2006). Public Private Partnerships in Australia: An overview of their nature, purpose, incidence and oversight, University of New South Wales Law Journal, vol.29, no.3, pp. 250-262.
18. ENGLISH, L, and GUTHRIE, J (2003). Driving privately financed projects in Australia: What makes them tick? Accounting, Auditing and Accountability Journal, vol.16, no.3, pp. 493-511.
19. ERNST & YOUNG (2007). The Road Ahead: Future of PPP in Australian Road Infrastructure, Ernst & Young Australia, Sydney, produced by Project Finance Advisory team
20. FISHBEIN, G, and BABBAR, S (1996). Private financing of toll roads, RMC Discussion Paper Series 117, World Bank, Washington DC.
21. FLYVBJERG, B, HOLM, MS, and BUHL, S (2002). Underestimating costs in public works projects: Error or lie? Journal of the American Planning Association, vol.68, no.3, pp. 279-295.
22. - (2006). Inaccuracy in traffic forecasts, Transport Reviews, vol.26, no.1, pp. 1-24.
23. FORWARD, P (2006). Public private partnership or conflict: Is it time for a new approach? (Paper in Forum: Public Private Partnerships), University of New South Wales Law Journal, vol.29, no.3, pp. 263-269.
24. GLAISTER, S, SCANLON, R, and TRAVERS, T (2000). Getting Public Private Partnerships going in transport, Public Policy and Administration, vol.15, no.4, pp. 49-70.
25. HEALD, D (2003). Value for money tests and accounting treatment in PFI schemes, Accounting, Auditing and Accountability Journal, vol.16, no.3, pp. 342-371.
26. HENSHER, DA and GOODWIN, PB (2004). Implementation of values of time savings: The extended set of considerations in a tollroad context, Transport Policy 11 (2), 171-181.
27. HILLS (1994). Hills Motorway Prospectus 1994, Hills Motorway Limited, Sydney.
28. JSCCCT (Joint Select Committee on the Cross City Tunnel) (2006a). Cross City Tunnel, First Report, Joint Select Committee on the Cross City Tunnel, Sydney
29. - (2006b). Cross City Tunnel and Public Private Partnerships, Second Report, Joint Select Committee on the Cross City Tunnel, Sydney.
30. KOZAROVSKI, D (2006). Public private partnerships - a solution worth pursuing despite their complexity, (Paper in Forum: Public Private Partnerships), University of New South Wales Law Journal, vol.29, no.3, pp. 308-317.
31. LAIRD, JJ, NASH, CA, NELLTHORP, J, MACARIO, R, van de HOOFD, M, CARMONA, M, PROOST, S, SUTER, S, and LIEB, C (2003). State of the Art and Conceptual Background, The 5th Framework RTD Programme, ISIS, Rome, January 2004, REVENUE Project Deliverable 1.
32. LOCKWOOD, S, VERMA, R, and SCHNEIDER, M (2000). Public-Private Partnerships in toll road developments: An overview of global practices, Transportation Quarterly, vol.54, no.2, pp. 77-91.
33. MILLS, G (1991). Commercial funding of transport infrastructure, Journal of Transport Economics and Policy, vol.25, no.3, pp. 279-298.
34. MULGAN, R (2006). Government accountability for outsourced services: Research and evaluation, Australian Journal of Public Administration, vol.65, no.2, pp. 48-58.
35. NAO (National Audit Office) (1998). The Private Finance Initiative: The First Four Design, Build, Finance and Operate Roads Contracts, Report by the Comptroller and Auditor General, National Audit Office, HC 476, Session 1997-1998, The Stationery Office, London.
36. - (2003). PFI: Construction Performance, Report by the Comptroller and Auditor General, National Audit Office, HC 371 2002-2003, The Stationery Office, London.
37. NSWAGO (1994) Private participation in the provision of public infrastructure: the Roads and Traffic Authority, Report No. 13, New South Wales Auditor-General's Office, Sydney.
38. - (1995). Performance Audit Report: Roads and Traffic Authority: The M2 Motorway, Report No. 16, New South Wales Auditor-General's Office, Sydney.
39. - (2000). Review of M2 Motorway Documentation, reported in Auditor-General's 2000 Report to Parliament, Volume 3, New South Wales Auditor-General's Office, Sydney.
40. - (2003). Roads and Traffic Authority of New South Wales, reported in the Auditor-General's 2003 Report to Parliament, Volume 5, New South Wales Auditor-General's Office, Sydney, pp. 209-218.
41. - (2005). Privately Financed Projects - Contract Summaries, reported in the Auditor-General's 2005 Report to Parliament, Volume 4, New South Wales Auditor-General's Office, Sydney, pp. 3-5.
42. - (2006a). Roads and Traffic Authority of New South Wales, reported in the Auditor-General's 2006 Report to Parliament, Volume 4, New South Wales Auditor-General's Office, Sydney, pp. 121-129.
43. - (2006b). Performance Audit: The Cross City Tunnel Project, New South Wales Auditor- General's Office, Sydney.
44. - (2007). Roads and Traffic Authority of New South Wales, reported in the Auditor-General's 2007 Report to Parliament, Volume 6, New South Wales Auditor-General's Office, Sydney, pp. 69-74.
45. NSWIIG (2005). Review of Future Provision of Motorways in NSW, New South Wales Infrastructure Implementation Group, The Premier's Department, Sydney.
46. NSWPAC (2006). Inquiry into Public Private Partnerships, Public Accounts Committee, Legislative Assembly, Parliament of New South Wales, Sydney, 16/53(159).
47. NSW TREASURY (2007a). 2007-2008 Budget Papers: Budget Paper 1 - Budget Speech, Office of Financial Management, Sydney, http://www.treasury.nsw.gov.au/ bp07-08/bpapers.htm, accessed on 16 September 2007.
48. - (2007b). Working With Government: Risk Allocation and Commercial Principles, Office of Financial Management, Sydney.
49. OFM (2006). Working With Government: Guidelines for Privately Financed Projects, Office of Financial Management, New South Wales Treasury, Sydney.
50. QUIGGIN, J (2005). Improving Public Infrastructure Contracts with the Private Sector: Lessons from the Cross-City Tunnel, Submission to NSW Parliament's Joint Select Committee on the Cross City Tunnel, Sydney.
51. RTA (1998). Eastern Distributor: Summary of Contracts, Roads and Traffic Authority, Sydney.
52. - (2003a). Cross City Tunnel: Summary of Contracts, Roads and Traffic Authority, Sydney.
53. - (2003b). Westlink M7 motorway: Summary of Contracts, Roads and Traffic Authority, Sydney.
54. - (2004). Lane Cove Tunnel: Summary of Contracts, Roads and Traffic Authority, Sydney.
55. - (2007). Annual Report 2007, Roads and Traffic Authority, Sydney.
56. SCOTT, S, and HEPWORTH, A (2007). NSW deeper in debt for big spend, Australian Financial Review, Wednesday, 20 June 2007, Sydney, pp.1,6.
57. SHTA (1987). Sydney Harbour Tunnel (Private Joint Venture) Act 198, Parliament of New South Wales, Sydney.
58. STARKIE, D (1990). The Private Financing of Road Infrastructure, Rees Jeffreys Road Fund: Transport and Society, Discussion Paper 11, Transport Studies Unit, Oxford University.
59. TIONG, RLK (1995). Risks and guarantees in BOT tender, Journal of Construction Engineering and Management, vol.121, no.2, pp. 183-188.
60. TRAILER, JW, RECHNER, PL, and HILL, RC (2004). A compounded agency problem: An empirical examination of Public-Private Partnerships, Journal of American Academy of Business, Cambridge, vol.5, no.1/2, pp. 308-315.
61. WALKER, B (2005). 5 things that Auditors-General should be doing about PPPs [Public Private Partnerships], Dissent, no.18, pp. 50-53.
62. WALKER, B, and WALKER, B (2000). Privatisation Sell Off or Sell Out? The Australian Experience, ABC Books, Sydney.
63. WATSON, D (2003). The rise and rise of Public Private Partnerships: Challenges for public accountability, Australian Accounting Review, vol.13, no.3, pp. 2-14.
64. WESTLINK M7 (2005) Summary of First Deed of Variation, November 2005