A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Contract Design, Financing Arrangements and Public Ownership—An Assessment of the US Airport Governance Model
US airports negotiate legally binding contracts with airlines and finance large investment projects with revenue bonds. Applying insights from transaction cost economics, we argue that the observed variation in contractual and financing arrangements at US airports corresponds to the parties' needs for safeguarding and coordination. The case evidence presented reveals that public owners set the framework for private investments and contracting. We suggest that airline contracts and capital market control result in comparative efficient investments and act as a check on the cost inefficiency typically linked to public ownership.
Contract Design, Financing Arrangements and Public Ownership—An Assessment of the US Airport Governance Model
US airports negotiate legally binding contracts with airlines and finance large investment projects with revenue bonds. Applying insights from transaction cost economics, we argue that the observed variation in contractual and financing arrangements at US airports corresponds to the parties' needs for safeguarding and coordination. The case evidence presented reveals that public owners set the framework for private investments and contracting. We suggest that airline contracts and capital market control result in comparative efficient investments and act as a check on the cost inefficiency typically linked to public ownership.
Contract Design, Financing Arrangements and Public Ownership—An Assessment of the US Airport Governance Model
Fuhr, Johannes (author) / Beckers, Thorsten (author)
Transport Reviews ; 29 ; 459-478
2009-07-01
20 pages
Article (Journal)
Electronic Resource
Unknown
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