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Comparing Investment on New Transport Infrastructure: Roads vs. Railways?

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This paper contributes to the debate on investment in transport infrastructure and the allocation of public funds between road and railway projects. We use a consistent social cost-benefit methodology to appraise investment in typical new inter-urban road and rail project. Our results suggest that road improvements have substantially higher returns than railway schemes. These findings cast doubt on the rationale of the new transport policy for the UK which proposes to allocate more public funds to the (private) railways than total new investment in strategic roads.

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  • Affuso, L. & Masson, J. & Newbery, D.M., 2000. "Comparing Investment on New Transport Infrastructure: Roads vs. Railways?," Cambridge Working Papers in Economics 0021, Faculty of Economics, University of Cambridge.
    • Handle: RePEc:cam:camdae:0021
    Note: IO, revised July 2003
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    File URL: http://www.econ.cam.ac.uk/research-files/repec/cam/pdf/wp0021.pdf
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    1. Newbery, David M, 1989. "Cost Recovery from Optimally Designed Roads," Economica, London School of Economics and Political Science, vol. 56(222), pages 165-185, May.
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    1. Padam, Sudarsanam & Singh, Sanjay Kumar, 2004. "Urbanization and urban transport in India: the search for a policy," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 27, pages 26-44.
    2. Bertenrath, Roman & Thöne, Michael & Walther, Christoph, 2006. "Wachstumswirksamkeit von Verkehrsinvestitionen in Deutschland [Growth effects of transport investment in Germany]," FiFo Reports - FiFo-Berichte 7, University of Cologne, FiFo Institute for Public Economics.
    3. Luisa Affuso & Alvaro Angeriz & Michael Pollitt, 2009. "The Impact of Privatisation on the Efficiency of Train Operation in Britain," Working Papers 28, Queen Mary, University of London, School of Business and Management, Centre for Globalisation Research.
    4. Sadeghi, Mehdi & Mirshojaeian Hosseini, Hossein, 2008. "Integrated energy planning for transportation sector--A case study for Iran with techno-economic approach," Energy Policy, Elsevier, vol. 36(2), pages 850-866, February.

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