Assessing Road Investments: Accessibility Changes, Cost Benefit and Production Effects

Ulla M Forslund and Börje Johansson

The Annals of Regional Science, 1995, vol. 29, issue 2, 155-74

Abstract: Infrastructure investment projects and programmes are generally evaluated by comparing project costs with pertinent benefits. In this paper a series of alternative national road investment programmes in Sweden are examined. Each programme is assessed in terms of expected time savings and reduced accident rates. In addition we make use of a general production function with regionally specific accessibility characteristics as arguments. With this approach, improved accessibility implies an increase of the production potential. The paper compares the value of these production effects with the value of time savings and other benefits in a standard CB-calculation. In the comparisons more than 50 alternative national investment programmes are assessed, and their degree of consistency is estimated.

Date: 1995
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