Planning, Evaluation and Financing of Transport Infrastructures: Rethinking the Basics
Ginés de Rus () and
Socorro M. Pilar ()
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Socorro M. Pilar: Universidad de Las Palmas de Gran Canaria, Departamento de Análisis Económico Aplicado, Campus de Tafira, 35017 Las Palmas de Gran Canaria, Spain
Review of Network Economics, 2017, vol. 16, issue 2, 143-160
This paper revises some of the common views on transport infrastructure investment and proposes alternative ways to achieve a more efficient planning, evaluation and financing of transport infrastructures in a world where planners may pursue their own interests, there exist different levels of government, and budget constraints are pervasive. We focus on the need for public planning and independent economic evaluation, and the importance of deciding the pricing scheme in the planning phase. We also discuss the institutional design and its effect on investment decisions, particularly, the financing of projects under different levels of government and its perverse consequences on infrastructure capacity choices. We use as an example the development of the HSR to serve medium-distance trips in corridors where air transport is a very close substitute.
Keywords: cost-benefit analysis; economic evaluation; financing; planning; pricing; transport infrastructure (search for similar items in EconPapers)
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