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  • The Proposed Privatisation of Queensland Motorways

    Author(s)
    Guest, Ross
    Griffith University Author(s)
    Guest, Ross
    Year published
    2010
    Metadata
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    Abstract
    This article evaluates the proposed sale of the tolling rights on Queensland Motorways from an economic welfare perspective. Weighing against the sale are arguments about optimal risk allocation and network externalities. In contrast, there is a productive efficiency case in favour of the sale. Privatisation also raises questions about private monopoly power and the delivery of community service obligations, although these could be handled through contract specifications. The sale price is essentially a distributional issue. The back-ofthe- envelope financial analysis here suggests that the mooted sale price of $3 ...
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    This article evaluates the proposed sale of the tolling rights on Queensland Motorways from an economic welfare perspective. Weighing against the sale are arguments about optimal risk allocation and network externalities. In contrast, there is a productive efficiency case in favour of the sale. Privatisation also raises questions about private monopoly power and the delivery of community service obligations, although these could be handled through contract specifications. The sale price is essentially a distributional issue. The back-ofthe- envelope financial analysis here suggests that the mooted sale price of $3 billion would undervalue the asset and therefore transfer net worth from Queensland taxpayers to private investors.
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    Journal Title
    Economic Papers
    Volume
    29
    Issue
    1
    DOI
    https://doi.org/10.1111/j.1759-3441.2010.00055.x
    Subject
    Applied economics
    Other economics not elsewhere classified
    Banking, finance and investment
    Publication URI
    http://hdl.handle.net/10072/36950
    Collection
    • Journal articles

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