Evaluation of wider economic impacts of light rail investment on cities

Richard D. Knowles and Fiona Ferbrache

Journal of Transport Geography, 2016, vol. 54, issue C, 430-439

Abstract: Transport plays a critical role in facilitating competitiveness in post-industrial economies. High quality transport services and infrastructure enhance internal and external connectivity. This research examines published and unpublished evidence of economic impacts of modern light rail (tram and light metro) systems in the United Kingdom and globally. Evidence is considered relating outcomes of investment in light rail systems to: unlocking previously hard to reach sites for development; triggering fresh growth through elimination of significant transport constraints; stimulation of inward investment; extension of labour market catchment areas; reorganisation or rationalisation of production, distribution and land use; and land and property value increase and capture. Urban light rail investment can help regenerate Central Business Districts and boost employment and property prices. Similar rail investments in different locations may not however have the same economic impacts — geography matters. Other conditions in addition to transport investment are required for positive externalities.

Keywords: Accessibility; Economic impacts; Inward investment; Light rail; Land and property value increase; Value capture; Widened labour markets (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0966692315001659

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jotrge:v:54:y:2016:i:c:p:430-439

DOI: 10.1016/j.jtrangeo.2015.09.002

Access Statistics for this article

Journal of Transport Geography is currently edited by Frank Witlox

More articles in Journal of Transport Geography from Elsevier
Bibliographic data for series maintained by Catherine Liu ().