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Aggregate and Regional Economic Effects of New Railway Infrastructure

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  • Wolfang Polasek
  • Wolfang Schwarzbauer
  • Richard Sellner

    (Institute for Advanced Studies, Vienna)

Abstract

Economists expect positive returns to investments in infrastructure. However a project with higher national returns might have less favorable effects on a regional level than the alternative. Therefore new infrastructure should also be assessed on a regional level, but econom(etr)ic evaluation models are scarce, especially in regional science. This paper pro- poses new approaches to evaluate infrastructure by a dynamic spatial econometric model that allows long-term predictions. We investigate the regional effects for 2 Austrian rail- way projects and show that infrastructure returns are positive on an aggregate and at a regional level, and spatial variation can be large

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Bibliographic Info

Article provided by Rimini Centre for Economic Analysis in its journal Review of Economic Analysis.

Volume (Year): 2 (2010)
Issue (Month): 1 (January)
Pages: 73-85

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Handle: RePEc:ren:journl:v:2:y:2010:i:1:p:73-85

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Related research

Keywords: Regional growth convergence; traffic accessibility; infrastructure evaluation; spatial econometrics;

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  1. Lin, Chien-Fu Jeff & Terasvirta, Timo, 1994. "Testing the constancy of regression parameters against continuous structural change," Journal of Econometrics, Elsevier, vol. 62(2), pages 211-228, June.
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Cited by:
  1. Antonio Estache, 2010. "A survey of impact evaluations of infrastructure projects, programs and policies," Working Papers ECARES 2010_005, ULB -- Universite Libre de Bruxelles.

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