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Aggregate and Regional Economic Effects of New Railway Infrastructure

Author

Listed:
  • Wolfang Polasek
  • Wolfang Schwarzbauer
  • Richard Sellner

    (Institute for Advanced Studies, Vienna)

Abstract

Economists 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 evaluation models are scarce, especially in regional science. This paper pro- poses new approaches to evaluate infrastructure by a dynamic spatial econometric model that allows long-term predictions. We investigate the regional effects for 2 Austrian rail- way projects and show that infrastructure returns are positive on an aggregate and at a regional level, and spatial variation can be large

Suggested Citation

  • 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.
  • Handle: RePEc:ren:journl:v:2:y:2010:i:1:p:73-85
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    References listed on IDEAS

    as
    1. 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.
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    Cited by:

    1. Antonio Estache, 2010. "A survey of impact evaluations of infrastructure projects, programs and policies," Working Papers ECARES 2010_005, ULB -- Universite Libre de Bruxelles.

    More about this item

    Keywords

    Regional growth convergence; traffic accessibility; infrastructure evaluation; spatial econometrics;

    JEL classification:

    • 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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