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date: 12 November 2019

Abstract and Keywords

This article examines an alternative means of obtaining infrastructure funding, which consists of various techniques that involve private ownership and the operation of public-use facilities. It focuses on highway projects, which constitute a major area for privatization proposals and can involve large-scale projects. After recounting many of the technical and contractual issues that are entailed in the private provision of infrastructure and reviewing the results of large deals done thus far, the article notes that privatization has been around in the United States for a short time, but long enough to raise some important policy issues. Infrastructure privatization has been seen as a novel innovation in financing, building, operating, and maintaining infrastructure. However, the revenue-guarantee measures used to protect investors can be contrary to the public interest.

Keywords: infrastructure privatization, infrastructure funding, private ownership, private operation, public-use facilities, highway projects

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