Aggregate and Regional Economic Effects of New Railway Infrastructure

Wolfgang Polasek (), Wolfgang Schwarzbauer and Richard Philipp Sellner
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Wolfgang Schwarzbauer: Department of Economics and Finance, Institute for Advanced Studies, Vienna, Austria

No 242, Economics Series from Institute for Advanced Studies

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.

Keywords: Regional growth convergence; traffic accessibility; infrastructure evaluation; spatial econometrics (search for similar items in EconPapers)
JEL-codes: C31 H43 H54 R11 R12 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo and nep-ure
Date: 2009-07

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http://www.ihs.ac.at/publications/eco/es-242.pdf First version, 2009 (application/pdf)

Related works:
Working Paper: Aggregate and regional economic eects of new railway infrastructure (2009)
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Persistent link: http://EconPapers.repec.org/RePEc:ihs:ihsesp:242

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