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Inter-Modal Network Externalities and Transport Development: Evidence from Roads, Canals, and Ports During the English Industrial Revolution

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  • Dan Bogart

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Abstract

How does the development of one transport mode influence the development of another? This paper uses time-series data to test whether inter-model network externalities influenced the development of road, canal, and port infrastructure in England from 1760 to 1830. The main finding is that road development had a positive effect on canal development. The results suggest that the option value of investing in a canal in the future diminished when nearby road improvements were initiated because there was less uncertainty about future profits from canal tolls. They also suggest a reinterpretation of road transport in the Industrial Revolution and point to the general importance of inter-modal network externalities.

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File URL: http://hdl.handle.net/10.1007/s11067-008-9060-0
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Bibliographic Info

Article provided by Springer in its journal Networks and Spatial Economics.

Volume (Year): 9 (2009)
Issue (Month): 3 (September)
Pages: 309-338

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Handle: RePEc:kap:netspa:v:9:y:2009:i:3:p:309-338

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Web page: http://www.springerlink.com/link.asp?id=106607

Related research

Keywords: Inter-modal network externalities; British transport; Industrial Revolution;

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References

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  1. Robert J. Barro & Xavier Sala-i-Martin, 1990. "Public Finance in Models of Economic Growth," NBER Working Papers 3362, National Bureau of Economic Research, Inc.
  2. Pindyck, Robert S, 1991. "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1110-48, September.
  3. N. F. R. Crafts & C. K. Harley, 1992. "Output growth and the British industrial revolution: a restatement of the Crafts-Harley view," Economic History Review, Economic History Society, vol. 45(4), pages 703-730, November.
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Cited by:
  1. David Levinson, 2009. "Introduction to the Special Issue on the Evolution of Transportation Network Infrastructure," Networks and Spatial Economics, Springer, vol. 9(3), pages 289-290, September.

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  1. Historical Economic Geography

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