Dr. Jay E. Ryu, Associate Professor of Political Science in the College of Arts & Sciences at Ohio University, will present a paper at the Transit Planning and Finance Issues session of the 25th annual conference of the Association for Budgeting and Financial Management (ABFM) 25th Annual Conference Oct. 3-5 in Washington, D.C.
His paper is on “Revolving Loan Systems for Transportation Projects: The Ohio State Infrastructure Bank (SIB) Program.”
“In response to declining financial resources for state transportation infrastructures, a series of federal legislation has authorized the establishment of State Infrastructure Bank (SIB) programs since 1995. Up to 2012, 36 states entered into SIB loan agreements with various public and private transportation projects, using federal, state, and local equity funds. As an early adopter of SIB, the Ohio SIB has loaned SIB capitalization equity funds to various transportation projects and stretched the original equity funds by about two to three times,” according to Ryu’s abstract. “However, the increased SIB equity funds did not actually increase state and local expenditures on highways and roads. Instead, this study identified SIB capitalization grant fungibility: One dollar SIB capitalization equity fund decreased state highway spending by $11 and local highway spending by $21.”
Ryu is Associate Professor of Public Policy and Administration in the Department of Political Science. His areas of specialization are public administration and public budgeting and finance. His current research areas have been focused on the political economy of public budgeting.
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