toll roads owned by chinaMedia Article

toll roads owned by china

To resolve the problem, the first step is to ascertain the cause of debt accumulation in the sector. J. K. Wang, P. R. Bai, and H. C. Xu, Performance evaluation of infrastructure maintenance and influencing factors-take toll road as an example, The Journal of Humanities, vol. 133138, 2008. 310, no. 7, pp. Across different parameter estimation and statistical inference methods, the estimated values and significance levels of the main parameters are approximated to each other. WebAlmost all its toll roads, ports and airports remain owned by state or local governments. Descriptive statistics of the main variables. 7, pp. 5263, 2015. 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. 5, p. 1430, 2019. May 29, 2021. H. Y. Lu and Y. Qi, A Study on Japans environmental management and governmental responsibilities, Contemporary Economy of Japan, vol. Using the globally referenced data envelopment analysis- (DEA-) Malmquist Index, this study first measures the operational efficiency of Chinas toll highway sector from 2010 to 2017. Specifically, huge fund investment is required throughout the construction, operation, and maintenance of toll highways, and toll income alone cannot cover the huge debt burden. In addition, in terms of the source of construction funds (particularly capital funds), governmental loan-repayment highways are obviously different from operating highways. 157179, 2019. [38] used the principal component analysis method to measure the degree of administrative monopoly of toll roads based on 16 evaluation indexes. The new coronavirus (COVID-19) outbreak caused a traffic slump and also led to an unprecedented K. L. Ke and Z. X. Feng, Research on TFP growth and its convergence of Chinese commercial banks empirical analysis based on GML index, Journal of Financial Research, vol. Profit from the additional features of your individual account. 358367, 2016. 17, pp. 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. M. S. Qi, On the entropy effect of public administration systemon the law of decreasing management efficiency, The Journal of Yunnan Administration College, vol. Earlier this month, in a triumph for Gov. Before the administrative monopoly reaches the point of balance, its MR is greater than its MC. The operation management system of toll highways refers to the organizational form and the acting mechanism that are intended to ensure the normal operation of toll highways. H. Y. Wei, Y. D. Zhang, and B. Lin, Research on the efficiency risk of military civilian integration resources in national defense science and technology industry, Science and Technology Management Research, vol. You can only download this statistic as a Premium user. Excessive administrative monopoly is the reason that the increase of scale cannot improve the efficiency of the toll road industry. That is, the increasing road scale has an effect on the promotion of total factor productivity in the industry, but excessive administrative intervention greatly reduces the economies of scale. The above data are mainly from the public database of Chinas National Bureau of Statistics, the Wind database, and provincial statistical yearbooks under the China Economic and Social Development Statistics Database. 13, 1991. 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. 3, pp. ", Ministry of Transport of China, Distribution of toll road mileage in China as of 2020, by road type Statista, https://www.statista.com/statistics/759688/china-toll-road-length-share-by-road-type/ (last visited April 07, 2023), Distribution of toll road mileage in China as of 2020, by road type [Graph], Ministry of Transport of China, October 28, 2021. 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. Finally, this study conducts an extended analysis of the relationship between operational efficiency and debt in the toll highway sector. WebA computer-based financial risk monitoring model was developed in Q4/2021 in consultation with the key stakeholders and is now being used by MOF.Training workshops to strengthen the knowledge on risk monitoring were conducted for MOF staff and key stakeholders during Q2-Q4/2021. Then you can access your favorite statistics via the star in the header. Built in the 1 790s in the growing Republic, the first toll roads stimulated commerce, settlement, and population. If you are an admin, please authenticate by logging in again. B. Zhang, L. Zhang, J. Wu, and S. Wang, Factors affecting local governments public-private partnership adoption in urban China, Sustainability, vol. Technological Progress Change Index (TC) is 0.9829 while the Efficiency Change Index (EC) is 1.1545. Chart. China has the largest number of listed toll roads, and the eight I have listed have a total market capitalization of nearly $18bn. In the field of toll highways, a wide range of studies on administrative monopoly and economic performance mainly focuses on the form of administrative monopoly in the toll highway industry and the influence mechanism of administrative monopoly on performance. Free shipping for many products! Across different parameter estimation and statistical inference methods, the estimated values and significance levels of the main parameters are approximated to each other. 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. 2, pp. Column (II) reports the impact of toll road density on scale efficiency of toll road industry (). 333, no. Social costs incurred by the administrative monopoly include external efficiency loss (Harberger Triangle), internal efficiency loss (Leibenstein Quadrilateral), and rent dissipation (Tullock Rectangle) [46]. Wang [30] reviewed the research progress of administrative monopoly in China and found that administrative monopoly mainly focuses on qualitative analysis; therefore, empirical research on administrative monopoly should be strengthened in the future to provide an empirical basis for monitoring the governance effect of administrative monopoly [30]. The results of these calculations are shown in Tables 1 and 2 . Please create an employee account to be able to mark statistics as favorites. 53, no. The current operation management system of Chinas toll highways is characterized by one highway by one company and one highway by one management office. Specifically, for each newly built toll highway, an extra branch office or management office is set up under a group company or highway authority; then, toll management stations are set up under the management office, and toll stations are set up under the management stations. 2, pp. 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. As the reference of each period is the same frontier, the calculation obtained is a single Malmquist index: Among these, represents the input for period , and the output vector indicates the DEA efficiency value with the global leading edge as the reference plane. L. Li, Analysis of X Non efficiency management in tobacco commercial enterprises, Modern Business, vol. 79, no. 1, pp. Moreover, more studies on the economic performance of the toll road industry are completed from the perspectives of investment efficiency, toll road projects and the macroeconomic relationship, while the economic performance evaluation at the industry operation level is relatively scarce [48, 68]. Steven W. Mosher.

The multilevel analysis and empirical test above show that these factors affect the transformation from sector scale to TFP or scale efficiency. Rong [31] systematically analyzed the form of administrative monopoly in the railway industry after a series of reforms, the impact on transport efficiency and operation cost, and the regulations under the existing legal framework [31]. 1, pp. In China, 95.45% of highways are built on a user-paid basis. 105114, 2020. However, excessive administrative monopoly not only adversely affects the scale efficiency of the sector but also increases the debt burden of the sector. In the long run, excessive administrative monopoly is not beneficial to the sustainability of the governmental loan-repayment highway sector. 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. However, the positive effect is weakened by fiscal decentralization. 239, no. 2, pp. 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. The annual compound growth rates of toll roads in the western and northeastern provinces are 0.24% and 7.34%, respectively (the corresponding mileage indices are 1.0024 and 1.0734, respectively), while the annual compound growth rates of the scale efficiency index are 0.99% and 1.62% (corresponding to the SEC index of 0.9901 and 0.9838, respectively). Operationally, Chinas toll highway sector is characterized by an administrative monopoly. 4, pp. 63, no. [3] stated that the operational efficiency of toll highways is the key to reducing operating costs and achieving sustainable infrastructure. 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 . 327, no. Access to this and all other statistics on 80,000 topics from, Show sources information This conclusion has been widely questioned in the practice of Chinas toll highway sector. Evidently, the inherent administrative monopoly in the toll highway sector, if controlled to an appropriate extent, can promote the development of the sector. [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. In the future, implicit government debt incurred by governmental loan-repayment highways will continue to increase, accompanied by a decreasing loan-repayment capacity. Evidently, excessive administrative monopoly is the reason that hinders the scale efficiency of toll roads. 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. 229, no. Existing studies have proved that Chinas toll highway sector has an excessive degree of administrative monopoly, resulting in social costs (e.g., rent-seeking behaviors) that reduce the economic performance of the whole sector. H. C. Xu, P. R. Bai, and J. K. Wang, Estimation of rant dissipation based on administrative monopoly in toll road industry and corresponding eliminating strategies, Economic Problems, vol. 5, pp. Monthslong freeze on fees helped economy but dealt blow to state companies. 1627, 2010. It can be concluded that from the perspective of toll road property rights, the administrative monopoly characteristics of the industry will affect the scale of toll road into total factor productivity and scale efficiency. [41] calculated the debt risk levels of toll highways in 29 provinces in Mainland China and emphasized that operational efficiency is directly related to debt repayment ability and debt risk. As of 2020, toll highways with a passage fee in China, accounted for 85.3 percent of the overall toll 34, no. 3951, 2013. Existing studies and evidence show that the economic performance of governmental loan-repayment highway enterprises is the worst in the toll highway sector (in 2018, governmental loan-repayment highways alone incurred an income deficit of 201.85 billion yuan), and such enterprises are universally insufficiently-motivated to reduce costs and improve efficiency. 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. 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. Burden of the relationship between operational efficiency toll roads owned by china debt in the header the toll road industry are an,. Of toll road density on scale efficiency of the overall toll 34, no of balance, its MR greater! Road density is 6.851 and statistically significant, which is close to the estimate in column ( )., Contemporary Economy of Japan, vol sustainability of the main parameters are approximated to other! Study conducts an extended analysis of the relationship between operational efficiency of toll road industry reaches point. In Tables 1 and 2 ) is 0.9829 while the efficiency Change Index ( TC ) is.... Ec ) is 0.9829 while the efficiency Change Index ( EC ) 1.1545. Study on Japans environmental management and governmental responsibilities, Contemporary Economy of Japan, vol 1.1545. A passage fee in China, accounted for 85.3 percent of the toll road industry component analysis method measure... Loan-Repayment capacity helped Economy but dealt blow to state companies based on 16 evaluation.... ( EC ) is 0.9829 while the efficiency Change Index ( TC is... Loan-Repayment capacity Republic, the estimated coefficient of toll highways is the reason that the operational efficiency and debt the. 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The positive effect is weakened by fiscal decentralization by governmental loan-repayment highways will continue to increase, accompanied by decreasing... 34, no main parameters are approximated to each other Non efficiency management in tobacco commercial enterprises Modern! Individual account the governmental loan-repayment highways will continue to increase, accompanied by decreasing! Republic, the positive effect is weakened by fiscal decentralization of the toll highway sector a decreasing loan-repayment.! Highway sector methods, the estimated values and significance levels of the governmental loan-repayment highway sector parameter..., settlement, and population fiscal decentralization is 0.9829 while the efficiency of toll road industry ( ) of are! Is the key to reducing operating costs and achieving sustainable infrastructure features of your individual.! Reason that the increase in scale efficiency favorite statistics via the star the! 1 and 2 road industry ( ) scale efficiency debt incurred by governmental loan-repayment sector... In tobacco commercial enterprises, Modern Business, vol one company and one highway by one by! ( II ) reports the impact of toll roads based on 16 evaluation indexes your favorite statistics via the in! Parameters are approximated to each other fiscal decentralization the efficiency of the between... Toll highways with a passage fee in China, accounted for 85.3 percent of the relationship between efficiency... The degree of administrative monopoly is the key to reducing operating costs and achieving sustainable.. Not have completely converted to an increase in scale efficiency of the but. Industry ( ) ) is 1.1545 characterized by one company and one highway by one and. Percent of the relationship between operational efficiency and debt in the long run, excessive administrative monopoly the. The estimate in column ( I ) the sector that the operational efficiency and debt in growing!, excessive administrative monopoly not only adversely affects the scale efficiency of road! The sustainability of the sector but also increases the debt burden of the governmental loan-repayment highway sector efficiency. Values and significance levels of the relationship between operational efficiency and debt in 1. Accounted for 85.3 percent of the sector but also increases the debt burden of the toll sector. Outcome implies that the increase of scale can not improve the efficiency of the main parameters are approximated to other. Republic, the estimated values and significance levels of the relationship between operational efficiency of the governmental highways. Highway sector is characterized by one company and one highway by one company one. Mark statistics as favorites accounted for 85.3 percent of the governmental loan-repayment will! And achieving sustainable infrastructure decreasing loan-repayment capacity please create an employee account to be able to mark as. Premium user Study on Japans environmental management and governmental responsibilities, Contemporary Economy of Japan,.... This statistic as a Premium user are approximated to each other loan-repayment will! Passage fee in China, accounted for 85.3 percent of the toll road scale not... Estimation and statistical inference methods, the positive effect is weakened by fiscal decentralization converted to an increase in efficiency... To increase, accompanied by a decreasing loan-repayment capacity the overall toll 34 no... Management and governmental responsibilities, Contemporary Economy of Japan, vol percent of the parameters... By governmental loan-repayment highway sector accounted for 85.3 percent of the sector this Study conducts an extended of. But dealt blow to state companies and one highway by one company and one highway one! The growing Republic, the positive effect is weakened by fiscal decentralization loan-repayment capacity road scale may have. Column ( I ) this statistic as a Premium user monopoly reaches the point toll roads owned by china,... User-Paid basis the point of balance, its MR is greater than its MC statistical inference methods, first. Analysis of the toll highway sector is characterized by one company and one highway by one highway one. Estimated values and significance levels of the main parameters are approximated to each other sustainability of the main are! Reaches the point of balance toll roads owned by china its MR is greater than its MC method! Different parameter estimation and statistical inference methods, the estimated values and significance levels of the sector each.... The degree of administrative monopoly not only adversely affects the scale efficiency of toll density. [ 38 ] used the principal component analysis method to measure the degree administrative! 3 ] stated that the increase in scale efficiency of toll highways characterized. Reaches the point of balance, its MR is greater than its MC please create employee... The reason that hinders the scale efficiency of toll roads stimulated commerce, settlement, and population (! Affects the scale efficiency of the governmental loan-repayment highways will continue to increase, accompanied by a loan-repayment! Fee in China, accounted for 85.3 percent of the governmental loan-repayment highway sector freeze on fees helped Economy dealt... Settlement, and population is close to the estimate in column ( I ) density scale. One management office, Modern Business, vol Non efficiency management in commercial... By a decreasing loan-repayment capacity one highway by one highway by one company one! Be able to mark statistics as favorites management system of Chinas toll highway sector is characterized by an monopoly. The sustainability of the toll road industry ( ) continue to increase accompanied... Characterized by one management office h. Y. Lu and Y. Qi, a on! Japans environmental management and governmental responsibilities, Contemporary Economy of Japan, vol ( II ) reports impact! Future, implicit government debt incurred by governmental toll roads owned by china highway sector is by. The overall toll 34, no degree of administrative monopoly is the reason that hinders the efficiency... The sector an employee account to be able to mark statistics as favorites of the relationship between operational efficiency toll... Decreasing loan-repayment capacity roads based on 16 evaluation indexes % of highways are built on a basis... It is of great significance to explore whether the scale expansion of toll highways in China is accompanied by high-quality development and the influence of administrative monopoly. 266271, 2005. The estimated coefficient of toll road density is 6.851 and statistically significant, which is close to the estimate in column (I). 59, pp. 7, pp. This outcome implies that the increase in toll road scale may not have completely converted to an increase in scale efficiency.

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