Use of Bond Issues To Capture Financial Surplus Generated For The Private Sector By Public Investments In Transport Projects: Brazilian Legislation

It is widely known that the capitals market is a major source of permanent financial resources for the economy because of the connection it establishes between agents with savings capacity (investors) and those in need of long term financial resources (finance borrowers). That being so, this paper presents a study on the possibility of capturing the financial surplus generated for the Private sector by public investments in transport projects using financing instruments, specifically, bonds. Such a study is needed to provide supporting information for new investments in transport projects given the scarcity of financial resources in a considerable number of Latin American countries. The analysis undertaken considers the Brazilian Capitals Market as a case study and accordingly the concepts used in it are presented in the perspective of Brazilian legislation.Institute of Transport and Logistics Studies. Faculty of Economics and Business. The University of Sydne

Use of Bond Issues To Capture Financial Surplus Generated For The Private Sector By Public Investments In Transport Projects: Brazilian Legislation

It is widely known that the capitals market is a major source of permanent financial resources for the economy because of the connection it establishes between agents with savings capacity (investors) and those in need of long term financial resources (finance borrowers). That being so, this paper presents a study on the possibility of capturing the financial surplus generated for the Private sector by public investments in transport projects using financing instruments, specifically, bonds. Such a study is needed to provide supporting information for new investments in transport projects given the scarcity of financial resources in a considerable number of Latin American countries. The analysis undertaken considers the Brazilian Capitals Market as a case study and accordingly the concepts used in it are presented in the perspective of Brazilian legislation.Institute of Transport and Logistics Studies. Faculty of Economics and Business. The University of Sydne

Normative model for the treatment of non-tariff revenue in cases of transportation infrastructure concessions

Tese (Doutorado)—Universidade Brasília, Faculdade de Tecnologia, Departamento de Engenharia Civil e Ambiental, 2012.O tratamento de receitas não tarifárias em projetos de concessão de infraestmtura no Brasil não é estabelecido de forma consistente, com base nas melhores práticas regulatórias e nos dispositivos legais que tratam do assunto. Constata-se essa lacuna de conhecimento a respeito dos processos de concessão de infraestrutura realizados no Brasil. O presente trabalho aborda a questão de como tratar as receitas não tarifárias em projetos de concessão de infraestrutura no Brasil, em especial infraestruturas de transporte. Esta tese de doutorado responde essa questão através de reflexões acerca da teoria econômica da regulação, do arcabouço legal vigente, e da observação das práticas de concessão nacional e internacional. Tem-se como resultado principal um modelo normativo para tratamento de receitas não tarifárias em projetos de concessão, o qual serve como ferramenta de suporte ao regulador da exploração de infraestruturas concedidas. Tal modelo é considerado para fins de modicidade tarifária a luz da teoria econômica da regulação por incentivos. Por fim, um estudo de caso com aplicação do modelo normativo proposto é realizado afim de melhor ilustrá-lo, e conclui-se com comentários e indicativos de futuras investigações. _______________________________________________________________________________ ABSTRACTThe treatment of non-tariff revenues in infrastructure concession projects in Brazil has not set consistently, based on best practices and regulatory provisions that address the topic. There is a knowledge gap in the provision of infrastructure processes carried out in Brazil. This paper addresses the problem of how to treat non-tariff revenues in infrastructure concession projects in Brazil, in particular transport infrastructure. This thesis answers this question by analyzing about the economic theory of regulation, the current legal framework, and observing the practice of granting national and international. It has as main result a normative model for treatment of non-tariff revenues in concession projects, which serves as a support tool for the regulator of infrastructure concessions. This model is considered for reduction of tariffs under the economic theory of incentive regulation. Finally, a case study with application of the normative model proposed is performed in order to better illustrate it, and conclusions, comments and indicative of future investigations are showed

Desempenho de misturas de areia asfalto usinadas a quente com o uso de ligantes mais consistentes

<p>Neste trabalho são apresentados resultados de uma pesquisa realizada em laboratório sobre o comportamento mecânico de uma areia asfalto usinada a quente, utilizada no revestimento de uma rodovia no estado do Ceará. A areia asfalto é uma mistura freqüentemente usada nas regiões Norte e Nordeste. Este tipo de mistura pode apresentar um desempenho similar aos concretos asfálticos recomendados para revestimentos de pavimentos em vias com alto volume de tráfego. Necessita-se, para tanto, observar sua graduação, forma de grãos e tipo e teor de ligante asfáltico a ser empregado para garantir durabilidade e resistência adequadas. As misturas pesquisadas no presente estudo têm o mesmo tipo de agregado e graduação, diferindo no teor e tipo de ligante.</p&gt

Uma análise da ótica do usuário de rodovias para avaliação multicritério de projetos rodoviários

The aim of this paper is to point out the need and importance of multi-criteria weighting in road project assessment in the interests of the group affected by the project. This importance is also assessed considering the actors' profile, showing the relevance of the differentiation of the weights in relation to the profile characteristics. This research was applied to one type of actor, road users, divided into two classes of drivers: driver's light vehicles (LV) and driver's heavy vehicles (HV). These impacts of the road project were analyzed in relation to the potential benefits generated for road users, by the project, corresponding to the criteria utilized in the proposed analysis methodology of road users' perception of the importance of these criteria and consequently its impact on the road project assessment. It was found that distinguishing between users according to the variables, type of vehicle used (HV or LV), region where the road will be implemented and the level of education would be of great importance in assessing road projects. It is seen that the determination of highway driver's profiles is important for obtaining adequate weights for road project assessment: this can also be done for weighting other criteria used in other existing methods of general-transport project assessment and focus on others actors