Expanding Cities and Connecting Cities: Appraising the Effects of Transport Improvements

Anthony Venables

Journal of Transport Economics and Policy, 2017, vol. 51, issue 1, 1--19

Abstract: Abstract The economic effects of transport improvements accrue through three main mechanisms. The first is direct cost saving. The second occurs if there are urbanisation economies. The third arises if there are city-task level economies of scale (localisation economies), and applies principally to inter-city improvements which enable cities to specialise in particular sectors or tasks. This paper develops an integrated framework which captures these mechanisms and derives multipliers to give their welfare impact. Gains from specialisation and scale economies may be large, although a transport improvement may be a necessary but not sufficient condition for the gains to be achieved.

Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:tpe:jtecpo:2017:51:1:1--19

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