Comparing Investment on New Transport Infrastructure: Roads vs. Railways?
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.
|Date of creation:||Dec 2000|
|Date of revision:|
|Note:||IO, revised July 2003|
|Contact details of provider:|| Web page: http://www.econ.cam.ac.uk/index.htm|
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- Newbery, David M, 1989. "Cost Recovery from Optimally Designed Roads," Economica, London School of Economics and Political Science, vol. 56(222), pages 165-85, May.
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