Systematic literature review: Financing system in railway transportation

Abstract

Trains are one of the least polluting modes of mass transportation. The creation of railway infrastructure aims to promote connection and mobility to spur economic growth. The purpose of this research is to provide an overview of railway funding around the world. The method is based on examining the literature on railway funding over the last 20 years. This research aims to provide an overview of railway funding issues and solutions and answers to challenges using research trends. This study's approach consists of three steps: bibliometric analysis with mapping through the keywords "rail" and "finance" from the Scopus account to get Scopus literature on railway financing, mapping using Vosviewer, and analyzing. The review included 506 articles published between 2008 and 2022 with the keywords "financing" or "finance" and "rail" "engineering" and "economic." The findings demonstrated that the high cost of infrastructure development and railway operations necessitated alternative creative financing to avoid taxing the state. Railway investment is significant, but revenue will be substantial in the future. Thus the PPP financing scheme is one of the alternative methods for acquisition, operating, and maintenance financing in railway transportation.