Second Generation Road Funds: Emerging "good" Practice



Second Generation Road Funds: Emerging "good" Practice

Authors

HEGGIE I G, Visiting Professor, University of Birmingham, UK

Description

Although it was originally established in 1953, the New Zealand road fund has been regularly restructured over the years (most recently in 1996) and is probably the best example of emerging good practice. Likewise, the South African road fund (established

Abstract

Although it was originally established in 1953, the New Zealand road fund has been regularly restructured over the years (most recently in 1996) and is probably the best example of emerging good practice. Likewise, the South African road fund (established in 1935), the Japan Road Improvement Special Account (established in 1954) and the U.S. Federal Highway Trust Fund (established in 1956), though not second generation road funds, have several useful features which are worth mentioning as part of a review of emerging good practice (Heggie and Vickers, 1998, Heggie, 1999). Interestingly, these second generation road funds tend to be strongly supported by the Ministry of Finance, since they offer greater transparency, better financial management and tighter financial controls. Road agencies tend to be less enthusiastic for the same reasons - the road fund forces them to justify their programs and holds them accountable for results.

Publisher

Association for European Transport