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Do the selected Trans European transport investments pass the cost benefit test?

  • Stef Proost

    ()

  • Fay Dunkerley
  • Saskia Loo
  • Nicole Adler
  • Johannes Bröcker
  • Artem Korzhenevych

This paper assesses the economic justification for the selection of priority projects defined under the auspices of the Trans-European transport network. Three different transport models are used to analyse the costs and benefits associated with the current list of 30 priority projects. Most of these projects fail the cost-benefit test and few of the economically justifiable projects would need European subsidies to ensure their viability. Two remedies are proposed to minimise the inefficiencies surrounding project selection. The first remedy would oblige each member state or group of states to perform a cost-benefit analysis, followed by peer review and ensure that the results were published publicly prior to the ranking of federally funded priority projects. The second remedy would require federal funding to be made available only for projects with important spillovers to other countries in order to avoid pork barrel political behaviour. Copyright Springer Science+Business Media New York 2014

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Article provided by Springer in its journal Transportation.

Volume (Year): 41 (2014)
Issue (Month): 1 (January)
Pages: 107-132

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Handle: RePEc:kap:transp:v:41:y:2014:i:1:p:107-132
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  1. Mayeres, Inge & Proost, Stef, 2001. "Marginal tax reform, externalities and income distribution," Journal of Public Economics, Elsevier, vol. 79(2), pages 343-363, February.
  2. CALTHROP, Edward & DE BORGER, Bruno & PROOST, Stef, 2008. "Cost-benefit analysis of transport investments in distorted economies," Working Papers 2008011, University of Antwerp, Faculty of Applied Economics.
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  7. Persson, Torsten, 1998. "Economic Policy and Special Interest Politics," Economic Journal, Royal Economic Society, vol. 108(447), pages 310-27, March.
  8. DE BORGER, Bruno & DUNKERLEY, Fay & PROOST, Stef, 2006. "Strategic investment and pricing decisions in a congested transport corridor," Working Papers 2006021, University of Antwerp, Faculty of Applied Economics.
  9. Brian Knight, 2003. "Parochial Interests and the Centralized Provision of Local Public Goods: Evidence from Congressional Voting on Transportation Projects," NBER Working Papers 9748, National Bureau of Economic Research, Inc.
  10. Jean Tirole, 1988. "The Theory of Industrial Organization," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262200716, June.
  11. Baron, David P & Ferejohn, John, 1987. "Bargaining and Agenda Formation in Legislatures," American Economic Review, American Economic Association, vol. 77(2), pages 303-09, May.
  12. de Palma, André & Proost, Stef & van der Loo, Saskia, 2010. "Assessing transport investments - Towards a multi-purpose tool," Transportation Research Part B: Methodological, Elsevier, vol. 44(7), pages 834-849, August.
  13. Yukihiro Kidokoro, 2004. "Cost-Benefit Analysis for Transport Networks: Theory and Application," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 38(2), pages 275-307, May.
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