Economic Development Impacts of High Speed Rail
AbstractThis paper reviews the state of high-speed rail (HSR) planning in the United States c. 2010. The plans generally call for a set of barely inter-connected hub-and-spoke networks. The evidence from US transit systems shows that lines have two major impacts. There are positive accessibility benefits near stations, but there are negative nuisance effects along the lines themselves. High speed lines are unlikely to have local accessibility benefits separate from connecting local transit lines because there is little advantage for most people or businesses to locate near a line used infrequently (unlike public transit). However they may have more widespread metropolitan level effects. They will retain, and perhaps worse, have much higher, nuisance effects. If high-speed rail lines can create larger effective regions, that might affect the distribution of who wins and loses from such infrastructure. The magnitude of agglomeration economies is uncertain (and certainly location-specific), but presents the best case that can be made in favor of HSR in the US.
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Bibliographic InfoPaper provided by University of Minnesota: Nexus Research Group in its series Working Papers with number 000072.
Date of creation: 2010
Date of revision:
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high-speed rail; public transportation; economic development; land use; hub-and-spoke;
Find related papers by JEL classification:
- R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Systems - - - General
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-06-04 (All new papers)
- NEP-GEO-2010-06-04 (Economic Geography)
- NEP-URE-2010-06-04 (Urban & Real Estate Economics)
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.:
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"Changing capitalization of CBD-oriented transportation systems: evidence from Philadelphia, 1970-1988,"
91-19, Federal Reserve Bank of Philadelphia.
- Voith Richard, 1993. "Changing Capitalization of CBD-Oriented Transportation Systems: Evidence from Philadelphia, 1970-1988," Journal of Urban Economics, Elsevier, vol. 33(3), pages 361-376, May.
- Michael Iacono & David Levinson & Zhirong (Jerry) Zhao, 2009. "Value Capture for Transportation Finance," Working Papers 000064, University of Minnesota: Nexus Research Group.
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