A family of innovative financial mechanisms and tools for urban public transport, based on the value increment caused by enhanced accessibility, is lately gaining much popularity as a solution to the challenges posed by shrinkage of public financial resources, known as Value Capture Finance (VCF). The effectiveness of applied transport financing policies depends significantly on the level of agreement among stakeholders, making collaboration a prerequisite for success. The research presented in this chapter assesses alternative financing options for urban public transportation that are based on the VCF concept, using the Multi Actor Multi Criteria Analysis (MAMCA). The proposed methodological framework is applied to a real-world case study of the metro system under construction in Thessaloniki, Greece. The chapter introduces the MAMCA as an ex ante evaluation method for different VCF mechanisms for urban transportation infrastructure. The MAMCA emerges as a robust methodology for this assessment, as it is shown to be capable of dealing with the complexity of VCF and its multidisciplinary nature.
Anastasia Roukouni, Cathy Macharis and Socrates Basbas
Annalisa Negrelli, Anastasia Roukouni and Angélique Chassy
In many EU countries, notwithstanding the privatisation policies, a large part of the supply of Local Public Transport (LPT) services is delivered by State-Owned Enterprises (SOEs); only a minority is covered by private operators or by mixed forms of public-private ones. There is a noteworthy variety in the LPT services organization among countries. Considerable differences are met even among cities within the same country. In this perspective, the quality of institutions is a factor that could assume a relevant impact on the internal policies and so, it could explain the differences in selecting among public, private or mixed private-public operators. In this context, the objective of the research is to critically examine how the main policy reforms – promoted by the EU and adopted by the Member States in the last two decades – have affected and continue to affect the market of public transport services. Starting from an empirical survey on the different experiences of the EU countries, the aim of the chapter is to investigate the theoretical inference of the collected data, analysing main juridical and socio-economic issues. What is the degree of market opening in the sector of LPT in some main European cities/municipalities? Which are the most efficient and progressive examples? Considering the degree of market opening, how could the juridical instruments adopted in the EU be a tool to compel the internal markets not open to competition? In other words, could the EU policies be a sort of ‘fly-wheel’, due to induce a virtuous circle that also entails single internal markets?