Aggregate and Regional Economic Effects of New Railway Infrastructure
AbstractEconomists expect positive returns to investments in infrastructure. However a project with higher national returns might have less favorable effects on a regional level than the alternative. Therefore new infrastructure 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 effects 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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Bibliographic InfoPaper provided by The Rimini Centre for Economic Analysis in its series Working Paper Series with number 09_09.
Date of creation: Jan 2009
Date of revision: Jan 2009
Regional growth convergence; traffic accessibility; infrastructure evaluation; spatial econometrics;
Other versions of this item:
- Wolfang Polasek & Wolfang Schwarzbauer & Richard Sellner, 2010. "Aggregate and Regional Economic Effects of New Railway Infrastructure," Review of Economic Analysis, Rimini Centre for Economic Analysis, vol. 2(1), pages 73-85, January.
- Polasek, Wolfgang & Schwarzbauer, Wolfgang & Sellner, Richard, 2009. "Aggregate and Regional Economic Effects of New Railway Infrastructure," Economics Series 242, Institute for Advanced Studies.
- C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
- H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
- R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
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- Lin, Chien-Fu Jeff & Terasvirta, Timo, 1994. "Testing the constancy of regression parameters against continuous structural change," Journal of Econometrics, Elsevier, vol. 62(2), pages 211-228, June.
- Antonio Estache, 2010. "A survey of impact evaluations of infrastructure projects, programs and policies," Working Papers ECARES 2010_005, ULB -- Universite Libre de Bruxelles.
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