An ex-post CBA for the Stockholm Metro
This paper performs an ex-post cost-benefit analysis (CBA) of the Metro system in Stockholm built in the 1950s. We find that the Metro was socially beneficial and that the largest benefit of the Metro is its capacity, making it possible for many people to travel to and from the city center. We also assess the significance of the wider economic impacts due to labor market distortions and the land-use effects in the case of the Stockholm Metro. The wider economic impacts increase the consumer surplus with 48%, and the yearly income in the county with 3.7%. A land-use model is used to analyze how the land-use has been influenced by the Metro over the years 1956-2006. The land-use model indicates that the historical centralized planning of housing along transit corridors has developed the region into a more dispersed region than if it had been planned according to the present inhabitants’ preferences. Moreover, we find that the land-use impacts from the investment itself seem to be small, but the land-use impacts from planning accompanying the decision to build the metro have been substantial.
|Date of creation:||20 Nov 2013|
|Date of revision:|
|Contact details of provider:|| Postal: Centrum för Transportstudier (CTS), Teknikringen 10, 100 44 Stockholm, Sweden|
Web page: http://www.cts.kth.se/
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Phil Goodwin & Robert Noland, 2003. "Building new roads really does create extra traffic: a response to Prakash et al," Applied Economics, Taylor & Francis Journals, vol. 35(13), pages 1451-1457.
- Tony Venables, 2004.
"Evaluating urban transport improvements: cost benefit analysis in the presence of agglomeration and income taxation,"
LSE Research Online Documents on Economics
2205, London School of Economics and Political Science, LSE Library.
- Anthony J. Venables, 2007. "Evaluating Urban Transport Improvements: Cost-Benefit Analysis in the Presence of Agglomeration and Income Taxation," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 41(2), pages 173-188, May.
- Anthony J. Venables, 2004. "Evaluating Urban Transport Improvements: Cost Benefit Analysis in the Presence of Agglomeration and Income Taxation," CEP Discussion Papers dp0651, Centre for Economic Performance, LSE.
- Tom Worsley, 2011. "The Evolution of London's Crossrail Scheme and the Development of the Department for Transport's Economic Appraisal Methods," International Transport Forum Discussion Papers 2011/27, OECD Publishing.
- McClelland, Peter D., 1968. "Railroads, American Growth, and the New Economic History: A Critique," The Journal of Economic History, Cambridge University Press, vol. 28(01), pages 102-123, March.
- Börjesson, Maria & Fosgerau, Mogens & Algers, Staffan, 2012. "On the income elasticity of the value of travel time," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(2), pages 368-377.
- Fremdling, Rainer, 1977. "Railroads and German Economic Growth: A Leading Sector Analysis with a Comparison to the United States and Great Britain," The Journal of Economic History, Cambridge University Press, vol. 37(03), pages 583-604, September.
When requesting a correction, please mention this item's handle: RePEc:hhs:ctswps:2013_034. 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: (Mats Berggren)
If references are entirely missing, you can add them using this form.