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Comparing Investment on New Transport Infrastructure: Roads vs. Railways?

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Abstract

This paper contributes to the debate on investment in transport infrastructure and the allocation of public funds between road and railway projects. We use a consistent social cost-benefit methodology to appraise investment in typical new inter-urban road and rail project. Our results suggest that road improvements have substantially higher returns than railway schemes. These findings cast doubt on the rationale of the new transport policy for the UK which proposes to allocate more public funds to the (private) railways than total new investment in strategic roads.

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File URL: http://www.econ.cam.ac.uk/research/repec/cam/pdf/wp0021.pdf
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Bibliographic Info

Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 0021.

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Date of creation: Dec 2000
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Handle: RePEc:cam:camdae:0021

Note: IO, revised July 2003
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Web page: http://www.econ.cam.ac.uk/index.htm

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  1. Newbery, David M, 1989. "Cost Recovery from Optimally Designed Roads," Economica, London School of Economics and Political Science, vol. 56(222), pages 165-85, May.
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Cited by:
  1. Luisa Affuso & Alvaro Angeriz & Michael Pollitt, 2009. "The Impact of Privatisation on the Efficiency of Train Operation in Britain," Working Papers 28, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.

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