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Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections

Author

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  • Elhorst, J. Paul

    (University of Groningen, The Netherlands; Netherlands)

  • Oosterhaven, Jan

    (University of Groningen, The Netherlands; Netherlands)

Abstract

This article evaluates a new mode of high speed ground transportation, the magnetic levitation rail system (Maglev). The outcomes of this evaluation provide policy information on the interregional redistribution of employment and population and the national welfare improvement of two Dutch urban-conglomeration and two Dutch core-periphery projects. This article also compares the results of an integral cost- benefit analysis with those of a conventional cost-benefit analysis and concludes that the additional economic benefits due to market imperfections vary from –1% to +38% of the direct transport benefits, depending on the type of regions connected and the general condition of the economy.

Suggested Citation

  • Elhorst, J. Paul & Oosterhaven, Jan, 2008. "Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 1(1), pages 65-87.
    • Handle: RePEc:ris:jtralu:0006
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    References listed on IDEAS

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    1. Bell, Clive, 2003. "Development Policy as Public Finance," OUP Catalogue, Oxford University Press, number 9780198773672, Decembrie.
    2. Venables, Anthony J, 1996. "Equilibrium Locations of Vertically Linked Industries," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(2), pages 341-359, May.
    3. Jan Oosterhaven & Ward E. Romp, 2003. "Indirect economic effects of new infrastructure: a comparison of Dutch high speed rail variants," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 94(4), pages 439-452, September.
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    Cited by:

    1. Levinson, David M., 2012. "Accessibility impacts of high-speed rail," Journal of Transport Geography, Elsevier, vol. 22(C), pages 288-291.
    2. Levinson, David M & Krizek, Kevin, 2008. "From the Editors," The Journal of Transport and Land Use, Center for Transportation Studies, University of Minnesota, vol. 1(2), pages 1-3.
    3. Mark Thissen & Narisra Limtanakool & Hans Hilbers, 2011. "Road pricing and agglomeration economies: a new methodology to estimate indirect effects applied to the Netherlands," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 47(3), pages 543-567, December.
    4. Rich, Jeppe & Vandet, Christian Anker, 2019. "Is the value of travel time savings increasing? Analysis throughout a financial crisis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 124(C), pages 145-168.
    5. Zhaorui Guo & Kam C. Chan & Jun Huang, 2021. "The impact of executive diversity on corporate innovation: Evidence from the natural experiment of high‐speed rail in China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(1), pages 219-234, January.
    6. Andersson, Matts & Dehlin, Fredrik & Jörgensen, Peter & Pädam, Sirje, 2015. "Wider economic impacts of accessibility: a literature survey," Working papers in Transport Economics 2015:14, CTS - Centre for Transport Studies Stockholm (KTH and VTI).
    7. Mark Thissen & Hans Hilbers & Paul Van De Coevering, 2009. "The Difference Between Bi‐Regional And Full Networks When Analysing Agglomeration Effects," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 100(2), pages 171-182, April.
    8. Peter Mackie & Daniel Graham & James Laird, 2011. "The Direct and Wider Impacts of Transport Projects: A Review," Chapters, in: André de Palma & Robin Lindsey & Emile Quinet & Roger Vickerman (ed.), A Handbook of Transport Economics, chapter 21, Edward Elgar Publishing.
    9. Leo Dobes & Joanne Leung, 2015. "Wider Economic Impacts in Transport Infrastructure Cost-Benefit Analysis - A Bridge Too Far?," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 22(1), pages 75-98.
    10. Simmonds, David & Feldman, Olga, 2011. "Alternative approaches to spatial modelling," Research in Transportation Economics, Elsevier, vol. 31(1), pages 2-11.
    11. Meng Tian & Tongping Li & Shuwang Yang & Yiwei Wang & Shuke Fu, 2019. "The Impact of High-Speed Rail on the Service-Sector Agglomeration in China," Sustainability, MDPI, vol. 11(7), pages 1-19, April.
    12. repec:mul:je8794:doi:10.1429/34355:y:2011:i:1:p:125 is not listed on IDEAS
    13. Wang, Yao & Dong, Weijia, 2022. "How China's high-speed rail promote local economy: New evidence from county-level panel data," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 67-81.
    14. Laird, James J. & Mackie, Peter J., 2014. "Wider economic benefits of transport schemes in remote rural areas," Research in Transportation Economics, Elsevier, vol. 47(C), pages 92-102.
    15. Jia, Shanming & Zhou, Chunyu & Qin, Chenglin, 2017. "No difference in effect of high-speed rail on regional economic growth based on match effect perspective?," Transportation Research Part A: Policy and Practice, Elsevier, vol. 106(C), pages 144-157.
    16. Shao, Shuai & Tian, Zhihua & Yang, Lili, 2017. "High speed rail and urban service industry agglomeration: Evidence from China's Yangtze River Delta region," Journal of Transport Geography, Elsevier, vol. 64(C), pages 174-183.
    17. Gwilliam, Ken, 2008. "A review of issues in transit economics," Research in Transportation Economics, Elsevier, vol. 23(1), pages 4-22, January.

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    More about this item

    Keywords

    Magnetic levitation; cost-benefit analysis; market imperfections; The Netherlands;
    All these keywords.

    JEL classification:

    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

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