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Cost-benefit analysis of the high-speed train in Spain

Author

Listed:
  • Vicente Inglada

    (Ministerio de Fomento, Paseo de la Castellana, 67, E-28071 Madrid, Spain)

  • GinÊs de Rus

    (Department of Applied Economics, Universidad de Las Palmas de Gran Canaria, Campus de Tafira, E-35017 Las Palmas, Spain)

Abstract

The high-speed train is a technological break-through in passenger transport which has allowed to increase railways share in modal split in medium range distances, competing with road and air transport. The first high-speed link in Spain was launched in April 1992, with high success according to occupancy rates and public opinion of its quality, safety and impact on regional development. The Madrid-Sevilla corridor includes several routes (commuting, long-distance and services provided using high-speed infrastructure but with Talgo technology). In this paper, an ex post cost-benefit analysis is carried out from demand and cost data available and under several assumptions about the life span of the project, growth hypothesis, time and accident values, and with a social discount rate of 6% in real terms. Economic evaluation of the project shows that the Spanish high-speed train project should have not been carried out in 1987 in that particular corridor.

Suggested Citation

  • Vicente Inglada & GinÊs de Rus, 1997. "Cost-benefit analysis of the high-speed train in Spain," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 31(2), pages 175-188.
  • Handle: RePEc:spr:anresc:v:31:y:1997:i:2:p:175-188
    Note: Received: July 1996 / Accepted: January 1997
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    Cited by:

    1. Albalate, Daniel & Fageda, Xavier, 2016. "High speed rail and tourism: Empirical evidence from Spain," Transportation Research Part A: Policy and Practice, Elsevier, vol. 85(C), pages 174-185.
    2. Nicole Adler & Chris Nash & Eric Pels, 2008. "High-Speed Rail & Air Transport Competition," Tinbergen Institute Discussion Papers 08-103/3, Tinbergen Institute.
    3. Ürge-Vorsatz, Diana & Kelemen, Agnes & Tirado-Herrero, Sergio & Thomas, Stefan & Thema, Johannes & Mzavanadze, Nora & Hauptstock, Dorothea & Suerkemper, Felix & Teubler, Jens & Gupta, Mukesh & Chatter, 2016. "Measuring multiple impacts of low-carbon energy options in a green economy context," Applied Energy, Elsevier, vol. 179(C), pages 1409-1426.
    4. Hultkrantz, Lars, 2012. "A Note on High-Speed Rail Investments and Travelers’ Value of Time," Working Papers 2012:13, Örebro University, School of Business.
    5. Germà Bel, 2011. "Infrastructure and nation building: The regulation and financing of network transportation infrastructures in Spain (1720--2010)," Business History, Taylor & Francis Journals, vol. 53(5), pages 688-705, August.
    6. De Rus Ginés, 2011. "The BCA of HSR: Should the Government Invest in High Speed Rail Infrastructure?," Journal of Benefit-Cost Analysis, De Gruyter, vol. 2(1), pages 1-28, January.
    7. Chen, Zhenhua & Xue, Junbo & Rose, Adam Z. & Haynes, Kingsley E., 2016. "The impact of high-speed rail investment on economic and environmental change in China: A dynamic CGE analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 92(C), pages 232-245.
    8. Rosa M. González-Marrero & Rosa M. Lorenzo-Alegría & Gustavo A. Marrero, 2011. "Los Efectos Territoriales de las Infraestructuras: La inversión en redes de alta velocidad ferroviaria," Economic Reports 05-2011, FEDEA.
    9. Daniel Albalate & Javier Campos & Juan Luis Jiménez, 2015. "“Tourism and high speed rail in Spain: Does the AVE increase local visitors?”," IREA Working Papers 201527, University of Barcelona, Research Institute of Applied Economics, revised Dec 2015.
    10. Román, Concepción & Martín, Juan Carlos & Espino, Raquel & Cherchi, Elisabetta & Ortúzar, Juan de Dios & Rizzi, Luis Ignacio & González, Rosa Marina & Amador, Francisco Javier, 2014. "Valuation of travel time savings for intercity travel: The Madrid-Barcelona corridor," Transport Policy, Elsevier, vol. 36(C), pages 105-117.
    11. Wan, Yulai & Ha, Hun-Koo & Yoshida, Yuichiro & Zhang, Anming, 2016. "Airlines’ reaction to high-speed rail entries: Empirical study of the Northeast Asian market," Transportation Research Part A: Policy and Practice, Elsevier, vol. 94(C), pages 532-557.
    12. Kelly, Charlotte & Laird, James & Costantini, Stefano & Richards, Phil & Carbajo, José & Nellthorp, John, 2015. "Ex post appraisal: What lessons can be learnt from EU cohesion funded transport projects?," Transport Policy, Elsevier, vol. 37(C), pages 83-91.
    13. Campos, Javier & de Rus, Ginés, 2009. "Some stylized facts about high-speed rail: A review of HSR experiences around the world," Transport Policy, Elsevier, vol. 16(1), pages 19-28, January.
    14. Dobruszkes, Frédéric & Dehon, Catherine & Givoni, Moshe, 2014. "Does European high-speed rail affect the current level of air services? An EU-wide analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 69(C), pages 461-475.
    15. Daniel Albalate del sol, 2015. "Evaluating HSR availability on Tourism: Evidence from Spanish Provinces and Cities," ERSA conference papers ersa15p288, European Regional Science Association.
    16. Michael B. Charles & Neal Ryan & Robbert A. Kivits, 2012. "Moving towards sustainable intercity transport: a case study of high-speed rail in Australia," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 15(1/2), pages 125-147.
    17. Pedro Casares & Pablo Coto-Millán, 2011. "Passenger transport planning. A Benefit-Cost Analysis of the High Speed Railway: The case of Spain," Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), Colexio de Economistas de A Coruña, Spain and Fundación Una Galicia Moderna, vol. 2, pages 1-1, December.
    18. Salvador Bertomeu & Antonio Estache, 2016. "Unbundling Political and Economic Rationality: a Non-Parametric Approach Tested on Spain," Working Papers ECARES ECARES 2016-17, ULB -- Universite Libre de Bruxelles.
    19. Jon X. Eguia & Antonio Nicolò, 2011. "On the Efficiency of Partial Information in Elections," Carlo Alberto Notebooks 234, Collegio Carlo Alberto.
    20. Cheng, Yung-Hsiang, 2010. "High-speed rail in Taiwan: New experience and issues for future development," Transport Policy, Elsevier, vol. 17(2), pages 51-63, March.
    21. Adler, Nicole & Pels, Eric & Nash, Chris, 2010. "High-speed rail and air transport competition: Game engineering as tool for cost-benefit analysis," Transportation Research Part B: Methodological, Elsevier, vol. 44(7), pages 812-833, August.

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