The ability of individual countries and the world as a whole to capture the benefits of the globalizing economy can be enhanced by an improvement in the organization of transport systems. There is presently a costly fragmentation of modes of transport – road, sea, rail, air – as well as of transport systems in different countries. The results are three-fold: barriers to transport which has to change mode, economic inefficiency and high social and environmental costs. Among the issues that require urgent consideration are the role of government in transport, regulatory reform and innovative ways of financing transport infrastructure.
