TY - JOUR
T1 - The use of propensity score matching methodology for analysis of concession
T2 - The case of road networks in Peru
AU - Bonifaz, José L.
AU - Fasanando, Antonio
N1 - Publisher Copyright: © 2022 World Conference on Transport Research Society
PY - 2022/12
Y1 - 2022/12
N2 - In this paper, a comparison has
been made between the average crash rate, cost overruns and time overruns of
the road sections concessioned with the estimated level that these sections
would have if they had not been concessioned for the Peruvian case. For this
exercise, the Propensity Score Matching methodology has been used that
guarantees correct comparability between the concessioned and non-concessioned
highways. This technique matches the unique characteristics that distinguish the
control (to try to make them more similar) and treatment groups. The main
result is that the crash rate, number of injuries, number of deaths, cost
overruns and time overruns are lower in the concessioned sections than in the
non-concessioned sections. In addition to this, the cost of crashes on
concessioned and non-concessioned highways for Peru has also been estimated. In
this case, the average annual cost per crash on the concessioned highways in
the period 2015–2019 would be USD 65.72 million, while for the non-concessioned
highways it would be USD 254 million. In other words, if all highways were
concessioned, Peru would save an average of US $ 189 million per year from
traffic crashes.
AB - In this paper, a comparison has
been made between the average crash rate, cost overruns and time overruns of
the road sections concessioned with the estimated level that these sections
would have if they had not been concessioned for the Peruvian case. For this
exercise, the Propensity Score Matching methodology has been used that
guarantees correct comparability between the concessioned and non-concessioned
highways. This technique matches the unique characteristics that distinguish the
control (to try to make them more similar) and treatment groups. The main
result is that the crash rate, number of injuries, number of deaths, cost
overruns and time overruns are lower in the concessioned sections than in the
non-concessioned sections. In addition to this, the cost of crashes on
concessioned and non-concessioned highways for Peru has also been estimated. In
this case, the average annual cost per crash on the concessioned highways in
the period 2015–2019 would be USD 65.72 million, while for the non-concessioned
highways it would be USD 254 million. In other words, if all highways were
concessioned, Peru would save an average of US $ 189 million per year from
traffic crashes.
KW - Evaluation
KW - Peru
KW - Public-private partnerships
KW - Road infrastructure
UR - http://www.scopus.com/inward/record.url?scp=85140894936&partnerID=8YFLogxK
UR - https://www.mendeley.com/catalogue/af5180bc-bd68-3439-ba70-f6e6ceb17219/
U2 - 10.1016/j.cstp.2022.10.017
DO - 10.1016/j.cstp.2022.10.017
M3 - Artículo de revista
AN - SCOPUS:85140894936
SN - 2213-624X
VL - 10
SP - 2350
EP - 2357
JO - Case Studies on Transport Policy
JF - Case Studies on Transport Policy
IS - 4
ER -