This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...

This paper reviews the Latin American experience with highway privatization during the last decade. Based on evidence from Argentina, Colombia and Chile, we find that private financing of new highways freed up fewer public resources than expected because public funds were often diverted to bail...

Roadway privatization offers many benefits, from decreasing transportation's dependence on public coffers to using market forces to decrease the number of "white elephant" roadway projects. But, in the United States, only two private road projects have been undertaken during the last century, in...