Inter-modal Network Externalities and Transport Development: Evidence from Roads, Canals, and Ports during the English Industrial Revolution

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Inter-modal Network Externalities and Transport Development: Evidence from Roads, Canals, and Ports during the English Industrial Revolution

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Dan Bogart () (Department of Economics, University of California-Irvine)

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Dan Bogart

Abstract

How does the development of one transport mode influence the development of another? This paper uses time-series data to test whether inter-model network externalities influenced the development of road, canal, and port infrastructure in England from 1760 to 1830. The main finding is that road development had a positive effect on canal development. The results suggest that the option value of investing in a canal in the future diminished when nearby road improvements were initiated because there was less uncertainty about future profits from canal tolls. They also suggest a reinterpretation of road transport in the Industrial Revolution and point to the general importance of inter-modal network externalities.

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Paper provided by University of California-Irvine, Department of Economics in its series Working Papers with number 070812.

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Length: 50 pages
Date of creation: Feb 2008
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Handle: RePEc:irv:wpaper:070812

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Article
- Dan Bogart, 2009. "Inter-Modal Network Externalities and Transport Development: Evidence from Roads, Canals, and Ports During the English Industrial Revolution," Networks and Spatial Economics, Springer, vol. 9(3), pages 309-338, September. [Downloadable!] (restricted)

Find related papers by JEL classification:
R40 - Urban, Rural, and Regional Economics - - Transportation Systems - - - General
R50 - Urban, Rural, and Regional Economics - - Regional Government Analysis - - - General
N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913

This paper has been announced in the following NEP Reports:

NEP-ALL-2008-02-23 (All new papers)
NEP-GEO-2008-02-23 (Economic Geography)
NEP-HIS-2008-02-23 (Business, Economic & Financial History)
NEP-NET-2008-02-23 (Network Economics)
NEP-URE-2008-02-23 (Urban & Real Estate Economics)

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Barro, Robert J. & Sala-i-Martin, Xavier, 1992. "Public Finance in Models of Economic Growth," CEPR Discussion Papers 630, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
Other versions:
- Robert J. Barro & Xavier Sala-i-Martin, 1990. "Public Finance in Models of Economic Growth," NBER Working Papers 3362, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Sala-I-Martin, X. & Barro, R.J., 1991. "Public Finance in Models of Economic Growth," Papers 640, Yale - Economic Growth Center.
- Barro, Robert J & Sala-i-Martin, Xavier, 1992. "Public Finance in Models of Economic Growth," Review of Economic Studies, Blackwell Publishing, vol. 59(4), pages 645-61, October. [Downloadable!] (restricted)
Pindyck, Robert S., 1990. "Irreversibility, uncertainty, and investment," Working papers 3137-90., Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
Other versions:
- Robert S. Pindyck, 1991. "Irreversibility, Uncertainty, and Investment," NBER Working Papers 3307, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
- Pindyck, Robert, 1989. "Irreversibility, uncertainty, and investment," Policy Research Working Paper Series 294, The World Bank. [Downloadable!]
- Pindyck, Robert S, 1991. "Irreversibility, Uncertainty, and Investment," Journal of Economic Literature, American Economic Association, vol. 29(3), pages 1110-48, September. [Downloadable!] (restricted)

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

David Levinson, 2009. "Introduction to the Special Issue on the Evolution of Transportation Network Infrastructure," Networks and Spatial Economics, Springer, vol. 9(3), pages 289-290, September. [Downloadable!] (restricted)

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