Economists expect positive returns to investments in infrastructure. However a project with higher national returns might have less favorable e ects on a regional level than the alternative. Therefore new infrastruc- ture should also be assessed on a regional level, but econom(etr)ic evalua- tion models are scarce, especially in regional science. This paper proposes new approaches to evaluate infrastructure by a dynamic spatial economet- ric model that allows long-term predictions. We investigate the regional e ects for 2 Austrian railway projects and show that infrastructure returns are positive on an aggregate and at a regional level but spatial variation can be large.
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Paper provided by Rimini Centre for Economic Analysis in its series Working Paper Series with number
09-09.