This book investigates the costing of the benefits of transport at the infrastructure project level and the general national policy level. The wider effects on economic activity, arising from a transport investment, are discussed. Well-specified cost-benefit analyses may identify and measure changes in transport production costs but may not fully represent their direct and indirect value to the economy. However the wider economic effects are not all necessarily benefits so there is no simple way of adding a uniform 'economic factor' to cost benefit analyses. Transport investments are sometimes intended to produce specific economic benefits in particular locations, such as regeneration of a depressed area or growth in a peripheral region. These intentions are not always realised, as the benefits may actually accrue to a different, competing region. Careful analysis of the current prices charged for transport services, and prices charged for goods by companies using those transport services, in relation to the costs is considered necessary before transport improvements are planned. Alternatives such as traffic control and road pricing may provide more cost-effective ways of achieving the same result. Financial assessment tests differ between private and public sectors, making direct comparison of value for money difficult. For abstracts of the chapters see C 21911 - C 21924 (ITRD E112372-E112385).
Abstract