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An ex-post CBA for the Stockholm Metro

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    Abstract

    This paper performs an ex-post cost-benefit analysis (CBA) of the Metro system in Stockholm built in the 1950s. We find that the Metro was socially beneficial and that the largest benefit of the Metro is its capacity, making it possible for many people to travel to and from the city center. We also assess the significance of the wider economic impacts due to labor market distortions and the land-use effects in the case of the Stockholm Metro. The wider economic impacts increase the consumer surplus with 48%, and the yearly income in the county with 3.7%. A land-use model is used to analyze how the land-use has been influenced by the Metro over the years 1956-2006. The land-use model indicates that the historical centralized planning of housing along transit corridors has developed the region into a more dispersed region than if it had been planned according to the present inhabitants’ preferences. Moreover, we find that the land-use impacts from the investment itself seem to be small, but the land-use impacts from planning accompanying the decision to build the metro have been substantial.

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    File URL: http://www.transportportal.se/swopec/CTS2013-34.pdf
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    Bibliographic Info

    Paper provided by CTS - Centre for Transport Studies Stockholm (KTH and VTI) in its series Working papers in Transport Economics with number 2013:34.

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    Length: 27 pages
    Date of creation: 20 Nov 2013
    Date of revision:
    Handle: RePEc:hhs:ctswps:2013_034

    Contact details of provider:
    Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden
    Web page: http://www.cts.kth.se/

    Related research

    Keywords: Ex-post evaluation; Cost-benefit analysis; CBA; Appraisal; Land-Use modeling; Metro; Wider economic impacts; Rail investments;

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    1. Fremdling, Rainer, 1977. "Railroads and German Economic Growth: A Leading Sector Analysis with a Comparison to the United States and Great Britain," The Journal of Economic History, Cambridge University Press, vol. 37(03), pages 583-604, September.
    2. Anthony J. Venables, 2004. "Evaluating Urban Transport Improvements: Cost Benefit Analysis in the Presence of Agglomeration and Income Taxation," CEP Discussion Papers dp0651, Centre for Economic Performance, LSE.
    3. McClelland, Peter D., 1968. "Railroads, American Growth, and the New Economic History: A Critique," The Journal of Economic History, Cambridge University Press, vol. 28(01), pages 102-123, March.
    4. Phil Goodwin & Robert Noland, 2003. "Building new roads really does create extra traffic: a response to Prakash et al," Applied Economics, Taylor & Francis Journals, vol. 35(13), pages 1451-1457.
    5. Börjesson, Maria & Fosgerau, Mogens & Algers, Staffan, 2012. "On the income elasticity of the value of travel time," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(2), pages 368-377.
    6. Tom Worsley, 2011. "The Evolution of London's Crossrail Scheme and the Development of the Department for Transport's Economic Appraisal Methods," International Transport Forum Discussion Papers 2011/27, OECD Publishing.
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