Transport Investment and Economic Development
A major concern of all decision makers has been to ensure that there are clear benefits from transport investment proposals. The travel time savings are clear, but the wider economic developments have presented enormous difficulty in terms of both theoretical arguments and empirical evidence. This book reviews the history of the debate and argues that the agenda has changed.
These issues are presented together with a major analytical investigation of macroeconomic models, evaluation in transport and microeconomic approaches. The final part of the book presents a series of case studies for road, rail and airport investment schemes, particularly focusing on the economic development aspects.
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List of figures
transport infrastructure investment and economic
The evolving economy
Social spatial and environmental effects
analytical approaches and modelling
The complementarity of approaches
A model of transport infrastructure development and local
production household and transportation sectors
Empirical case studies
The economic impacts of rail
The economic impacts of airports
Interpretation of impacts and policy conclusions
accessibility activities additional agglomeration economies airport allocative analysis arguments Aschauer assess Benefit-cost ratio capacity cent centre changes Chapter cities competitive computed congestion consumer surplus consumption cost function demand economic development economic growth efficiency elasticity employment environmental equilibrium estimated evaluation example externalities finance firms growth effects Heathrow high-speed rail highway households impact important improvements income increase industries infra infrastructure capital infrastructure facilities interzonal land LRRT macroeconomic major Manchester airport measure ment motorway nomic output particular patterns private capital private sector production function public capital public infrastructure public sector rail rate of return reduced regional relationships retail road scale social spatial structure studies substantial sunk costs Table tion traffic trans transport costs transport infrastructure investment transport investment transportation project travel time budget trip urban users variables World Bank