Planning of Road Infrastructure Financing: Computational Finance Viewpoint
Lack of resources for road infrastructure financing is a
problem that currently affects not only eastern European economies
but also many other countries especially in relation to the impact of
global financial crisis. In this context, we are talking about the socalled
short-investment problem as a result of long-term lack of
investment resources. Based on an analysis of road infrastructure
financing in the Czech Republic this article points out at weaknesses
of current system and proposes a long-term planning methodology
supported by system approach. Within this methodology and using
created system dynamic model the article predicts the development of
short-investment problem in the Country and in reaction on the
downward trend of certain sources the article presents various
scenarios resulting from the change of the structure of financial
sources. In the discussion the article focuses more closely on the
possibility of introduction of tax on vehicles instead of taxes with
declining revenue streams and estimates its approximate price in
relation to reaching various solutions of short-investment in time.
[1] Leleur, S., Systemic Planning: Principles and Methodology for
Planning in a Complex World, Published by Polyteknisk, Second
Edition, ISBN 978-87-502-1004-7, 2008
[2] Jensen A.V., Leleur S., Scenario analysis (SCA) from the Centre for
Logistics and Goods (CLG) study of evaluation techniques, Denmark:
Centre for Logistics and Goods, 2004
[3] Xue, L., Zhao, D., Liu, G., "Stochastic simulation of bus traveling
time", Advanced Materials Research, vol. 186, pp. 556-559, 2011
[4] Leleur, S., Petersen, N. B. & Barfod, M. B., "The COSIMA Approach to
Transport Decision Making: Combining Cost-benefit and Multi-criteria
Analysis for Comprehensive Project Appraisal", Conference paper
presented at the Korean Development Institute World Bank Conference,
Seoul, May 2007.
[5] Vaidya, O. S., Kumar, S., "Analytical Hierarchy Process: An overview
of applications", European Journal of Operational Research, vol. 169,
pp. 1-29, 2006
[6] Lenferink, S., T. Tillema, J. Arts, The potential of a life-cycle approach
for improving road infrastructure planning in the Netherlands,
Colloquium Vervoersplanologisch Speurwerk, Santpoort, Netherlands,
2008
[7] Lakshmanan, T.R., "The broader economic consequences of transport
infrastructure investments", Journal of Transport Geography, vol. 19,
pp. 1-12, 2011
[8] Hong, J., Chu, Z., Wang, Q., "Transport infrastructure and regional
economic growth: evidence from China", Article in press:
Transportation, ISSN: 00494488, 2011
[9] Ietto-Gillies, G., "The current economic crisis and international
business. Can we say anything meaningful about future scenarios?",
Futures, vol. 42, no. 9, pp. 910-919, 2010
[10] He Y., Liu M., "System dynamics analysis on the regional transport
infrastructure and social economic development", Proceedings of
International Conference on Transportation Engineering 2007, pp.
642-648, 2007
[11] Fu M.," Port and economy relationship analysis by system dynamics",
ICTE 2011 - Proceedings of the 3rd International Conference on
Transportation Engineering, pp. 162-167, 2011
[12] Diaz S., Quintero E., Hernandez H., Jenkins O., "Analysis of the
Orinoco Oil Belt development through a dynamic simulation model",
SPE Latin American and Caribbean Petroleum Engineering
Conference Proceedings, vol. 1, pp. 535-547, 2010
[1] Leleur, S., Systemic Planning: Principles and Methodology for
Planning in a Complex World, Published by Polyteknisk, Second
Edition, ISBN 978-87-502-1004-7, 2008
[2] Jensen A.V., Leleur S., Scenario analysis (SCA) from the Centre for
Logistics and Goods (CLG) study of evaluation techniques, Denmark:
Centre for Logistics and Goods, 2004
[3] Xue, L., Zhao, D., Liu, G., "Stochastic simulation of bus traveling
time", Advanced Materials Research, vol. 186, pp. 556-559, 2011
[4] Leleur, S., Petersen, N. B. & Barfod, M. B., "The COSIMA Approach to
Transport Decision Making: Combining Cost-benefit and Multi-criteria
Analysis for Comprehensive Project Appraisal", Conference paper
presented at the Korean Development Institute World Bank Conference,
Seoul, May 2007.
[5] Vaidya, O. S., Kumar, S., "Analytical Hierarchy Process: An overview
of applications", European Journal of Operational Research, vol. 169,
pp. 1-29, 2006
[6] Lenferink, S., T. Tillema, J. Arts, The potential of a life-cycle approach
for improving road infrastructure planning in the Netherlands,
Colloquium Vervoersplanologisch Speurwerk, Santpoort, Netherlands,
2008
[7] Lakshmanan, T.R., "The broader economic consequences of transport
infrastructure investments", Journal of Transport Geography, vol. 19,
pp. 1-12, 2011
[8] Hong, J., Chu, Z., Wang, Q., "Transport infrastructure and regional
economic growth: evidence from China", Article in press:
Transportation, ISSN: 00494488, 2011
[9] Ietto-Gillies, G., "The current economic crisis and international
business. Can we say anything meaningful about future scenarios?",
Futures, vol. 42, no. 9, pp. 910-919, 2010
[10] He Y., Liu M., "System dynamics analysis on the regional transport
infrastructure and social economic development", Proceedings of
International Conference on Transportation Engineering 2007, pp.
642-648, 2007
[11] Fu M.," Port and economy relationship analysis by system dynamics",
ICTE 2011 - Proceedings of the 3rd International Conference on
Transportation Engineering, pp. 162-167, 2011
[12] Diaz S., Quintero E., Hernandez H., Jenkins O., "Analysis of the
Orinoco Oil Belt development through a dynamic simulation model",
SPE Latin American and Caribbean Petroleum Engineering
Conference Proceedings, vol. 1, pp. 535-547, 2010
@article{"International Journal of Business, Human and Social Sciences:56877", author = "Ornst J. and Voracek J. and Allouache A. and Allouache D.", title = "Planning of Road Infrastructure Financing: Computational Finance Viewpoint", abstract = "Lack of resources for road infrastructure financing is a
problem that currently affects not only eastern European economies
but also many other countries especially in relation to the impact of
global financial crisis. In this context, we are talking about the socalled
short-investment problem as a result of long-term lack of
investment resources. Based on an analysis of road infrastructure
financing in the Czech Republic this article points out at weaknesses
of current system and proposes a long-term planning methodology
supported by system approach. Within this methodology and using
created system dynamic model the article predicts the development of
short-investment problem in the Country and in reaction on the
downward trend of certain sources the article presents various
scenarios resulting from the change of the structure of financial
sources. In the discussion the article focuses more closely on the
possibility of introduction of tax on vehicles instead of taxes with
declining revenue streams and estimates its approximate price in
relation to reaching various solutions of short-investment in time.", keywords = "Road financing, road infrastructure development,
system dynamics", volume = "6", number = "8", pages = "2143-5", }