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Aggregate and Regional Economic Effects of New Railway Infrastructure

  • Wolfgang Polasek

    ()

    (IHS (Austria); Rimini Centre for Economic Analysis (Italy))

  • Wolfgang Schwarzbauer

    (IHS (Austria))

  • Richard Sellner

    (IHS (Austria))

Economists expect positive returns to investments in infrastructure. However a project with higher national returns might have less favorable effects on a regional level than the alternative. Therefore new infrastructure should also be assessed on a regional level, but econom(etr)ic evalua tion models are scarce, especially in regional science. This paper proposes new approaches to evaluate infrastructure by a dynamic spatial economet ric model that allows long-term predictions. We investigate the regional effects for 2 Austrian railway projects and show that infrastructure returns are positive on an aggregate and at a regional level but spatial variation can be large.

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File URL: http://www.rcfea.org/RePEc/pdf/wp09_09.pdf
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Paper provided by The Rimini Centre for Economic Analysis in its series Working Paper Series with number 09_09.

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Date of creation: Jan 2009
Date of revision: Jan 2009
Handle: RePEc:rim:rimwps:09_09
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  1. Lin, Chien-Fu Jeff & Terasvirta, Timo, 1994. "Testing the constancy of regression parameters against continuous structural change," Journal of Econometrics, Elsevier, vol. 62(2), pages 211-228, June.
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