Justifying a high-speed rail project: social value vs. regional growth
This article establishes a relationship between the net present value (NPV) of a High-Speed Rail (HSR) project and its social value, its transportation consumers` surplus (TCS) and its regional economic impact in terms of growth. First, it is shown that if the NPV is positive, it may generate growth even if no bottleneck exists. Second, when shadow-pricing and externalities are included in the calculations, and the HSR demand has been forecasted by a multinomial logit model, the NPV differs from its net economic impact. For instance, one variant of the project, though acceptable, reduces growth elsewhere in the economy. Decision-making is then in a quandary.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 31 (1997)
Issue (Month): 2 ()
|Note:||Received: April 1996 / Accepted: May 1996|
|Contact details of provider:|| Web page: http://link.springer.de/link/service/journals/00168/index.htm|
More information through EDIRC
|Order Information:||Web: http://link.springer.de/orders.htm|
When requesting a correction, please mention this item's handle: RePEc:spr:anresc:v:31:y:1997:i:2:p:155-174. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.