Aggregate and Regional Economic Effects of New Railway Infrastructure

Polasek, Wolfgang, Schwarzbauer, Wolfgang and Sellner, Richard (June 2009) Aggregate and Regional Economic Effects of New Railway Infrastructure. IHS Economics Series 242


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Abstract or Table of Contents

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

Item Type: IHS Series
Keywords: 'Regional growth convergence' 'Traffic accessibility' 'Infrastructure evaluation' 'Spatial econometrics'
Classification Codes (e.g. JEL): C31, H43, H54, R11, R12
Status: Published
Date Deposited: 26 Sep 2014 10:38
Last Modified: 02 Mar 2019 01:10

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