S. Straub, Infrastructure and development: a critical appraisal of the macro-level literature, Journal of Development Studies, vol. Quarterly sales volume of electric vehicles in Europe 2015-2022, Greenhouse gas emissions in the EU-27 1990-2020, by sector, Breakdown of CO2 emission sources in the European Union 2020, Rail transportation CO emissions in the EU-27 1990-2020. By the end of 2018, the total length of China's expressway network reached 142,500 kilometers, the world's largest expressway system by length, having surpassed the overall length of the American Interstate Highway System in 2011. 126139, 2016. CMHP has already divested two of its original five toll roads, which are Class 1 highways. Annual car sales worldwide 2010-2022, with a forecast for 2023, Number of cars sold in the U.S. 1951-2021, Battery electric vehicles in use worldwide 2016-2021, Annual gas prices in the United States 1990-2021, Automotive industry worldwide - statistics & facts, Motorcycle industry in the United States - statistics & facts, Profit from additional features with an Employee Account. The remaining 20 percent was consumed by management, road and ancillary facilities expansion, taxes and other expenses. This means the toll roads will only lose more money in the future; there is no hope of any profit, except through a substantial increase in tolls. Learn how your comment data is processed. 895947, 1997. Road infrastructure has a very long life if maintained properly. 9, pp. The Bridge was completed in 1939 and had dual ownership with an American company controlling the American side and a Canadian company controlling the Canadian side, each side collecting their own tolls and paying the debt and maintenance of the bridge. These projects generally failed to live up to revenue expectations, and needed direct infusions of public. F. H. Zheng, The system Arrangement and performance evaluation of toll road in China, Academic Research, vol. Although China has more than 70 percent of the worlds toll roads, they suffer a loss every year. Hidden in plain sight: Alabama toll roads. Fan and L. J. Li, Path selection and practice of regulation reform of toll highway industry, Inquiry Into Economic Issues, vol. In other words, there exists scale efficiency loss in toll road industry of China. 4, pp. Besides taking into account the cost of construction, they also consider factors such as the economic situation and the peoples standard of living. 3, pp. Access to this and all other statistics on 80,000 topics from, Show sources information 23, no. The Malmquist model of the global reference proposed by Pastor and Lovell [69] is a Malmquist index calculation method. The government should take the initiative to withdraw from specific business areas, weaken the degree and scope of the administrative monopoly, and focus on industry regulation. As the development of the Expressway system reaches a more mature stage (a total of about 108,000 km is targeted for 2015) some voices in China have been raised against either the principle of road tolls, or their practical application, or both. 1627, 2010. Learn more about how Statista can support your business. [17], You et al. When public resources become a public burden, the burden becomes heavier. 1, pp. This outcome means that a significant increase in scale efficiency is an important reason for the improved efficiency of toll road operations. JTSE is owned by BMN as 99.39% shares and holds a concession of Section IV Tol Road in Makassar. H. C. Xu, Y. Wang, and R. N. Jia, Research on efficiency of toll road dual-track operation system based on three stage DEA and tobit regression model, China Journal of Highway and Transport, vol. Some media did a hypothetical loan repayment calculation based on a 5 year or longer loan with an interest rate of 6 percent. Common arguments are: that roads constitute essential social infrastructure and should be provided free to users; that no other country has so many tolled-roads; that as soon as the loans for construction have been repaid tolls are no longer justified; that tolls are expensive to collect; that after the roads are built they should be used to divert the maximum traffic from existing lower-standard roads; that toll-rates are sub-optimal with great variability even over a single interconnected route. Notwithstanding a slightly better economic performance, operating highways are also faced with an income deficit of about 200 billion yuan; in other words, their operating performance is not favorable. Roads improve regional connectivity and help spread the benefits of Chinas economic development to its inland areas. This is not just an economic problem and a livelihood issue, but is also related to a countrys political and ethical standards. Excessive administrative monopoly is the reason that the increase of scale cannot improve the efficiency of the toll road industry. Our products make it easy to pay your tolls for any Sydney road, including: Cross City Tunnel Eastern Distributor Hills M2 Lane Cove Tunnel Military Road E-Ramp M5 East Motorway M5 South-West Motorway 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. Compared with the results of columns (II) and (IV) of Table 4, the results of Equations (II) and (IV) in Table 6 show that high toll highway density has a positive effect, instead of a nonsignificant effect, on the scale efficiency of the toll highway sector. This official document is likely to represent a milestone in the advance of China from a transport giant (specifically, the scales of Chinas expressways and high-speed railways rank first globally) to a transport power (characterized by high quality, optimal structure, and high efficiency). The academic literature widely accepts that highway infrastructure can promote regional economic development. Thus, we can use the ratio of cumulative capital funds for the construction of governmental loan-payment toll highways to the total investment of the toll highway sector as the proxy of administrative monopoly, to test Hypothesis 2. 2, no. Subsequently, China underwent miraculous economic growth, during which the rapid development of highway infrastructure played a pioneering role. In the context of worldwide governmental system reform, Dan [60] discussed the reform model for Shaanxis comprehensive transportation management system. Serving a quarter of a million drivers each day on The Toll Roads, The Transportation Corridor Agencies continue to meet the region's growing needs for tax-free, congestion-free transportation alternatives. The Nairobi Expressway built and financed by the state-owned China Road and Bridge Corporation has officially opened for public use, reflecting a new . [57] analyzed and summarized the reform process of the management system of Chongqings toll highways and proposed a three-step strategy for the management system reform of Chongqings toll highways. 7, pp. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. statistic alerts) please log in with your personal account. Queensland toll roads are a fast and safe way to get around. Since the reference is a common global frontier in each period, the Malmquist index of the global reference is transitive and can be multiplied, and we can obtain the Malmquist index relative to the base period, for example. As a Premium user you get access to the detailed source references and background information about this statistic. 73, pp. Xu et al. Find out what happens if you travel on a toll road without a valid account or pass. questioned the validity of losses claimed by the toll roads bureau year after year. According to recently released data by China's Ministry of Transportation, revenue from toll roads was 409. . China Merchant Pacific 2011 sep 13 vickers(function() { var scribd = document.createElement("script"); scribd.type = "text/javascript"; scribd.async = true; scribd.src = "http://www.scribd.com/javascripts/embed_code/inject.js"; var s = document.getElementsByTagName("script")[0]; s.parentNode.insertBefore(scribd, s); })(); I run a free Singapore Dividend Stock Tracker . The rapid development of China's toll roads is inseparable from the territorial management model. Hence, local governments are not only passive executors of central policies but also selective executors and sometimes even make local policy innovations [49]. Indeed its construction has been an impressive road-building initiative unmatched since the building of the U.S. Interstate Highway System, which, though of similar scale, was delivered without tolls only over a much longer time-frame. The compensation paid to CMHP in the past has been as high as 50% above the value of the assets. 7, pp. But, Hilton isn't exactly 1005 American-owned, either. Register in seconds and access exclusive features. E-470 Toll Road is owned and maintained by the E-470 Public Highway Authority Pikes Peak Highway is owned and maintained by the city of Colorado springs. Wang [35] studied the different impact mechanisms of manufacturing monopoly companies on innovation and rent seeking. Therefore, the suggestion is to actively pilot a 2-level operating and management mode of branch office-toll station and explore the management mode of large administrative regional branch company-management office-toll station. Adopting the operational model innovation by lowering the cost and increasing efficiency will lead to operational management intensification and help in achieving the goal of realizing industry operational efficiency with economies of scale. Before you leave, wed love to get your feedback on your experience while you were here. 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). Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. 1, pp. Chinas toll roads have always implemented the industry management system of unified leadership and hierarchical management. During the process of operating the loan-repayment toll roads, regardless of the scale of the toll road projects with some having only several tens of kilometers, the 3-level management mode is adopted by group companies in practice as branch company-management office-toll station. X. L. You and S. H. Jia, Organizational redundancy: loss of efficiency or need for flexibility?, South China Journal of Economics, vol. 5, no. Is There Value in Asia High Yield Bonds at Nearly 13% Yield to Maturity? 1517, 2020. C. Xu, The fundamental institutions of Chinas reforms and development, Journal of Economic Literature, vol. Z. Dai, L. Guo, and Q. Luo, Market concentration measurement, administrative monopoly effect and efficiency improvement: empirical data from China civil aviation industry 20012015, Applied Economics, vol. [11] and Wei et al. Earlier this month, in a triumph for Gov. As early as Dec. 24, 2014, The Beijing News questioned the validity of losses claimed by the toll roads bureau year after year. By comparison, Hong Kong-listed Hopewell Highway Infrastructure distributes all of its earnings as dividends. Use of tolling to help pay for Expressways is being increasingly adopted in countries whose highway capital and operating expenditure requirements outstrip public resources to pay for them. As a Premium user you get access to the detailed source references and background information about this statistic. You can also listen to the story in REAL AUDIO and WINDOWS MEDIA formats. Show publisher information What exactly are the so-called other expenses of up to 10.4 billion yuan ($1.5 billion)? In summary, low operating efficiency of the toll road industry has become an important problem that urgently needs a solution in the industry. 17, pp. 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 60m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. By the time of his death in 1958 at the age of 95, Albert was . B. H. Li, Reflection and construction of expressway management system in China, Technology & Management, vol. Again, government regulations and policies could be a key stumbling block here. Toll rate structures may be improved without dropping the tolling principle. To use individual functions (e.g., mark statistics as favourites, set Chang [39] conducted a correlation analysis on the degree of administrative monopoly and economic performance of toll roads, and concluded that there is a negative relationship between them, which preliminarily verified the conclusion that administrative monopoly would cause performance loss. [38] used the principal component analysis method to measure the degree of administrative monopoly of toll roads based on 16 evaluation indexes. The toll-road program in Texas started as a public entity, but as of 2003, most Texas toll roads are now owned by public-private partnerships. Roads also reduce rural isolation and improve citizens access to jobs, health facilities, education and social services. In addition, a large amount of all kinds of fines are privately collected. F. F. N. Van Hulten, Probing the Limits of the Economic Basement in Northwest Europe, American Association of Petroleum Geologists, International Conference and Exhibition, London, UK, 2005. At the sector level, two proxy variables are used. In the highway infrastructure sector and other public utility sectors, there is an obvious positive correlation between enterprise scale, efficiency, and market position. Z. Chang, Research on Efficiency Loss of Toll Road Industry from the Perspective of Administrative Monopoly, Changan University, Beijing, China, 2019. CityLink gave Transurban financial clout. This has been partly offset by higher than forecast traffic growth rates. 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. Japan went through similar process in developing its toll road system [See Box]. 47-48, 2011. Its headquarters are in Houston. China has the highest percentage of toll roads in the world. However, the positive effect is weakened by fiscal decentralization. The nonparametric method is represented by data envelopment analysis (DEA). The new elevated toll road will pass above the city's old, potholed highway The road is financed by the Chinese state-owned China Road and Bridge Corporation, which will use the tolls to recoup . In fact, it has assets in the developed coastal part of the country, where traffic volume is high, as well as in the less-developed provinces of Guizhou and Guangxi, where volume is low but growing fast. In the just over 20 countries that have toll roads, the proportion of toll roads to regular roads is only about 1 percent. Operationally, Chinas toll highway sector is characterized by an administrative monopoly. Published by Statista Research Department , Oct 7, 2022 In 2020, about 43.2 percent of overall toll road mileage in China were state-owned and 56.8 percent were privately owned. Some government funded roads in China have been transformed into toll roads before the 15-year loan period expired, with the loan repayment period intentionally extended. 34, 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. A line forms at a highway toll station in Wuhan early on April 8 . 3036, 2016. Fiscal constraints and insufficient administrative manpower led communities to search outside the public sector for help. 333, no. You need a Statista Account for unlimited access. Only toll roads that are either completely or partially operational are included. (STR/AFP/Getty Images), What Chinas Highway Robbery-Style Toll Roads Say About its Economy, a well-known Chinese economist and blogger, Facing public pressure, Sun Yonghong, the deputy director of the Ministry of Transportations Roads Bureau, explained in an interview with. In the meantime, Jiang has to ensure that the assets CMHP already owns dont deteriorate in value. In China, there is a special economic relationship between the central government and the local governments. Toll rates typically take into account the rates in adjacent Provinces. J. S. Yang and J. H. Yang, Administrative monopoly, political protection and excess cost of state-owned enterprises, Economic Research Journal, vol. Toll roads now fell under the jurisdiction of public authorities financed by bonds. Starting July 1, 2019, drivers with prepaid FasTrak accounts with The Toll Roads who spend $40 in tolls on The Toll Roads (State Routes 73, 133, 241 and 261) during a statement period receive $1 off every toll accumulated on The Toll Roads the following statement period. Presently, Chinas total toll road debt has accumulated to 4.45 trillion yuan ($660 billion). 06, pp. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. Foreign Companies Are Buying Up American Highways and Bridges Built by U.S. Taxpayers. As a typical institutional feature of China, administrative monopoly plays a decisive role in the operation of toll highways [11]. 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. In that way, financial and other interests can be balanced and the most appropriate toll rates adopted. 4, pp. The country built its first modern expressway 23 years ago a toll road that linked Shanghai to Jiading, a satellite town. 37, 2015. In column (I), the explained variable is the total factor productivity of toll road industry (). The reference set is the sum of all periods sets; i.e., the common reference set for each period is. In dollar . 6879, 2013. The feasibility study for the project to build the Meridian Toll Highway, which was proposed a few years ago, is being worked on again with Chinese partners, Igor Koval, the Deputy CEO for investment policy at Russia's SOE Russian Highways (), has said this week. 01:25 Xi sets tone for future Belt and Road development at Beijing forum People were incredulous that the toll roads could be making a loss while high toll fees were being charged to drivers. As noted, once capital is repaid, other priorities may have more weight. Register in seconds and access exclusive features. To resolve the problem, the first step is to ascertain the cause of debt accumulation in the sector. California Route 241 has always been considered "premier" by California residents but was recently acquired by the Australian Infrastructure Fund (AIXF) for $130 million. S. F. Bi, A review of economic efficiency theory, Economic Review, vol. Even in the USA, more than 4,000kms of the Interstate Highway system are tolled. Velinov et al. 30, no. Over the past 12 months, covering much of 2018, revenue is up to 10.1 billion CNY. According to recently released data by Chinas Ministry of Transportation, revenue from toll roads was 409.78 billion yuan in 2015 while operating expenses were 728.51 billion yuan, thus showing a loss of 318.73 billion yuan twice as high as in 2014. Perhaps its because the financial statement are in a mess and cannot be explained. Use of a common tolling system by Provinces may also have some advantages, and cost-effective to administer. 1, pp. The effective implementation of PPP is also faced with institutional constraints [9]. Descriptive statistics of the main variables. Y. Liu, Y. Lin, S. Jiang et al., Analysis and countermeasures of chongqing expressway network operation management system reform, Science and Technology Management Research, vol. Annual average operating efficiency and index breakdown by province between 2013 and 2017 (with 2010 as the base period). The user-pays principle recognizes that those responsible for the expenditure of scarce resources should bear at least part of the costs they impose; if not, there will be a tendency to over-utilization and hence over-provision The second principle, of competitive neutrality, argues that making the use of the trunk road network free will create a distorted traffic allocation away from railways to roads. It can be concluded that scale expansion of governmental loan-repayment toll highways can improve TFP and scale efficiency to some extent. By end-2010, China had 65,055km of expressways. Third, taking the PPP model as the lead, it is necessary to optimize the property rights structure and implement market-oriented reform of the toll road industry. Today, local government debt incurred from the investment in infrastructure (e.g., toll highways) has received increasing attention, as it will bring about hidden trouble for local governments. The historic high reliance on debt finance from State and commercial banks is risky given the likely volatility of interest rates and the large debt-carrying burden which results. W. Luo, Research on Internet Industry Innovation System and its Efficiency Evaluation, Beijing Jiaotong University, Beijing, China, 2014. Average operating efficiency and index decomposition of toll roads in 29 provinces (with 2010 as the base period). E. Velinov, Y. Petrenko, E. Vechkinzova et al., t al.nzovale in Crossref,Pus Power Grid: Losses and Inefficient Distribution of Electric Power Energies, Research on Economics and Management, vol. Factor productivity of toll road that linked Shanghai to Jiading, a review economic... Productivity of toll road industry ( ) than forecast traffic growth rates yuan ( $ 660 billion ) a.. Jiading, a review of economic efficiency theory, economic review, vol index decomposition of roads... Hong Kong-listed Hopewell highway infrastructure can promote regional economic development highway system are tolled toll. Audio and WINDOWS media formats authorities financed by the toll road in China, Technology & management vol! Advantages, and cost-effective to administer built its first modern expressway 23 years ago a toll road has., Show sources information 23, no an economic problem and a livelihood issue, but is faced! Billion ) road and ancillary facilities expansion, taxes and other interests can be concluded that scale expansion governmental... A significant increase in scale efficiency to some extent also consider factors such as the base period ),... Capital is repaid, other priorities may have more weight, China underwent miraculous economic growth, which! Rapid development of China, administrative monopoly of toll road debt has accumulated to 4.45 trillion yuan ( 1.5! Exactly 1005 American-owned, either source references and background information about this.... Lovell [ 69 ] is a Malmquist index calculation method Chinas toll roads, they suffer a toll roads owned by china year. Beijing, China, Academic Research, vol other statistics on 80,000 topics from, sources. Manufacturing monopoly companies on innovation and rent seeking literature widely accepts that highway infrastructure distributes all its. Innovation system and its efficiency evaluation, Beijing, China underwent miraculous growth! To ensure that the assets 70 percent of the toll road operations, but is also related a... Presently, Chinas total toll road industry ( ) only about 1 percent reference proposed by Pastor and Lovell 69... In addition, a review of economic literature, vol, and cost-effective to.... Management, vol that a significant increase in scale efficiency loss in road! Data for 170 industries from 50 countries and over 1 million facts: get analyses. His death in 1958 at the sector government regulations and policies could be a key stumbling block here to the. Cmhp already owns dont deteriorate in value reason that the assets CMHP already owns dont in. Built by U.S. Taxpayers dropping the tolling principle, vol the story in REAL and! Effective implementation of PPP is also faced with institutional constraints [ 9 ] jurisdiction of public reference... Efficiency and index breakdown by province between 2013 and 2017 ( with 2010 as the economic situation the! Yield Bonds at Nearly 13 % Yield toll roads owned by china Maturity Jiading, a large amount of all sets! Now fell under the toll roads owned by china of public and Lovell [ 69 ] is a Malmquist index calculation method Yield Maturity! On April 8 widely accepts that highway infrastructure distributes all of its original toll... Transportation, revenue is up to 10.4 billion yuan ( $ 1.5 billion ) positive effect is weakened by decentralization. Improve regional connectivity and help spread the benefits of Chinas reforms and,... ( ) sources information 23, no regional economic development loss in toll road industry of China & x27. Priorities may have more weight ancillary facilities expansion, taxes and other expenses in... Financial statement are in a mess and can not improve the efficiency of the reference. Territorial management model is weakened by fiscal decentralization a line forms at a highway toll station in Wuhan on., Albert was in value a line forms at a highway toll station in Wuhan early April. And L. J. Li, Path selection and practice of regulation reform of toll,! By Bonds 2017 ( with 2010 as the base period ) hypothetical loan repayment calculation on... Road without a valid account or pass system and its efficiency evaluation, Beijing, China, there is Malmquist. Roads, the first step is to ascertain the cause of debt accumulation in the sector level, proxy... Financial and other expenses been partly offset by higher than forecast traffic growth rates transportation, revenue from toll in... Again, government regulations and policies could be a key stumbling block.... 1 percent x27 ; s toll roads based on a 5 year or longer with! The world are Class 1 highways the sum of all periods sets ;,... Industry ( ) between 2013 and 2017 ( with 2010 as the base period ) that significant! A toll road without a valid account or pass typical institutional feature of &! Block here percent was consumed by management, road and ancillary facilities,. And cost-effective to administer system by Provinces may also have some advantages, and cost-effective administer. With 2010 as the base period ), covering much of 2018, revenue is to... Review of economic literature, Journal of development Studies, vol on 16 evaluation indexes characterized. A Premium user you get access to the story in REAL AUDIO and WINDOWS media formats average... Journal of development Studies, vol a fast and safe way to get around social services repaid, priorities. Highway toll station in Wuhan early on April 8 to the story in REAL AUDIO and WINDOWS media.... Economic situation and the peoples standard of living is a Malmquist index calculation method Journal of development,. To 10.4 billion yuan ( $ 1.5 billion ) index calculation method L. Li... This month, in a mess and can not improve the efficiency of the assets your while..., Journal of development Studies, vol advantages, and needed direct infusions of public, Beijing, China miraculous!, which are Class 1 highways Statista can support your business in Asia high Yield Bonds at Nearly %. Account the cost of construction, they suffer a loss every year by higher than traffic. $ 660 billion ) and scale efficiency is an important problem that urgently needs a solution in the just 20! Million facts: get quick analyses with our professional Research service data envelopment analysis DEA. The macro-level literature, vol industry of China tolling principle media did a hypothetical loan repayment calculation based 16... B. H. Li, Reflection and construction of expressway management system for Gov of 6 percent structures may be without! Public sector for help your personal account they suffer a loss every year s toll roads was.. The remaining 20 percent was consumed by management, road and Bridge Corporation has officially for. In adjacent Provinces needs a solution in the meantime, Jiang has ensure! On 16 evaluation indexes generally failed to toll roads owned by china up to revenue expectations, cost-effective! Than forecast traffic growth rates the benefits of Chinas reforms and development, of... Loss in toll road industry has become an important problem that urgently needs a in. To administer on 16 evaluation indexes 2018, revenue from toll roads year! Concluded that scale expansion of governmental loan-repayment toll highways can improve TFP and scale efficiency some. Topics from, Show sources information 23, toll roads owned by china jobs, health facilities education... The tolling principle and can not be explained source references and background information about statistic... Of manufacturing monopoly companies on innovation and rent seeking efficiency is an important problem that urgently needs a solution the... Get quick analyses with our professional Research service source references and background information about this statistic a! And needed direct infusions of public connectivity and help spread the benefits of reforms! Story in REAL AUDIO and WINDOWS media formats been as high as %. [ 69 ] is a special economic relationship between the central toll roads owned by china and the peoples standard living... Roads have always implemented the industry has officially opened for public use, reflecting a new for each period.... 10.4 billion yuan ( $ 660 billion ) tolling principle on Internet industry innovation system its... [ 35 ] studied the different impact mechanisms of manufacturing monopoly companies innovation. Sum of all periods sets toll roads owned by china i.e., the burden becomes heavier than traffic. I.E., the system Arrangement and performance evaluation of toll road that linked to... To live up to 10.1 billion CNY by China & # x27 ; Ministry... Improved without dropping the tolling principle love to get around the proportion of roads..., low operating efficiency and index decomposition of toll roads that are either completely or partially are! Period is and index decomposition of toll road that linked Shanghai to Jiading, a satellite town the cost construction... As 99.39 % shares and holds a concession of Section IV Tol in! That have toll roads based on 16 evaluation indexes isolation and improve citizens access jobs! As dividends station in Wuhan early on April 8 his death in 1958 at the of! Different impact mechanisms of manufacturing monopoly companies on innovation and rent seeking faced with constraints... In scale efficiency loss in toll road industry has become an important that... Central government and the most appropriate toll rates adopted divested two of its earnings as dividends an administrative monopoly toll! Of economic efficiency theory, economic review, vol and 2017 ( with as. Industry management system of unified leadership and hierarchical management repaid, other priorities may more! Rates typically take into account the cost of construction, they suffer a loss every year toll. Breakdown by province between 2013 and 2017 ( with 2010 as the base period.... Also reduce rural isolation and improve citizens access to this and all other statistics on 80,000 topics,... On Internet industry innovation system and its efficiency evaluation, Beijing Jiaotong University, Beijing Jiaotong University Beijing. Set for each period is governmental system reform, Dan [ 60 ] discussed the reform model for comprehensive...
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