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Cost-benefit analysis of the high-speed train in Spain

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Author Info

  • Vicente Inglada

    (Ministerio de Fomento, Paseo de la Castellana, 67, E-28071 Madrid, Spain)

  • GinÊs de Rus

    (Department of Applied Economics, Universidad de Las Palmas de Gran Canaria, Campus de Tafira, E-35017 Las Palmas, Spain)

Abstract

The high-speed train is a technological break-through in passenger transport which has allowed to increase railways share in modal split in medium range distances, competing with road and air transport. The first high-speed link in Spain was launched in April 1992, with high success according to occupancy rates and public opinion of its quality, safety and impact on regional development. The Madrid-Sevilla corridor includes several routes (commuting, long-distance and services provided using high-speed infrastructure but with Talgo technology). In this paper, an ex post cost-benefit analysis is carried out from demand and cost data available and under several assumptions about the life span of the project, growth hypothesis, time and accident values, and with a social discount rate of 6% in real terms. Economic evaluation of the project shows that the Spanish high-speed train project should have not been carried out in 1987 in that particular corridor.

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Bibliographic Info

Article provided by Springer in its journal The Annals of Regional Science.

Volume (Year): 31 (1997)
Issue (Month): 2 ()
Pages: 175-188

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Handle: RePEc:spr:anresc:v:31:y:1997:i:2:p:175-188

Note: Received: July 1996 / Accepted: January 1997
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Cited by:
  1. Nicole Adler & Chris Nash & Eric Pels, 2008. "High-Speed Rail & Air Transport Competition," Tinbergen Institute Discussion Papers 08-103/3, Tinbergen Institute.
  2. Campos, Javier & de Rus, Ginés, 2009. "Some stylized facts about high-speed rail: A review of HSR experiences around the world," Transport Policy, Elsevier, vol. 16(1), pages 19-28, January.
  3. Germà Bel, 2010. "Infrastructure and nation building: The regulation and financing of network transportation infrastructures in Spain (1720-2010)," IREA Working Papers 201016, University of Barcelona, Research Institute of Applied Economics, revised Sep 2010.
  4. Adler, Nicole & Pels, Eric & Nash, Chris, 2010. "High-speed rail and air transport competition: Game engineering as tool for cost-benefit analysis," Transportation Research Part B: Methodological, Elsevier, vol. 44(7), pages 812-833, August.
  5. Michael B. Charles & Neal Ryan & Robbert A. Kivits, 2012. "Moving towards sustainable intercity transport: a case study of high-speed rail in Australia," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 15(1/2), pages 125-147.
  6. Rosa M. González-Marrero & Rosa M. Lorenzo-Alegría & Gustavo A. Marrero, 2011. "Los Efectos Territoriales de las Infraestructuras: La inversión en redes de alta velocidad ferroviaria," Economic Reports 05-2011, FEDEA.
  7. Cheng, Yung-Hsiang, 2010. "High-speed rail in Taiwan: New experience and issues for future development," Transport Policy, Elsevier, vol. 17(2), pages 51-63, March.
  8. Hultkrantz, Lars, 2012. "A Note on High-Speed Rail Investments and Travelers’ Value of Time," Working Papers 2012:13, Örebro University, School of Business.
  9. Jon X. Eguia & Antonio Nicolò, 2011. "On the Efficiency of Partial Information in Elections," Carlo Alberto Notebooks 234, Collegio Carlo Alberto.
  10. Nicole Adler & Chris Nash & Eric Pels, 2008. "High-Speed Rail & Air Transport Competition," Tinbergen Institute Discussion Papers 08-103/3, Tinbergen Institute.

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