This report brings together the results of different studies of the impact of investment on economic development, the location of economic activity, and traffic, including any social disbenefits. The aims are to provide information about international experience, and improve the predictions of projects' impact. The study leading to this report was conducted as a questionnaire survey of all member countries of C9 (Committee on Financing and Economic Evaluation) in 1997, together with information from other available sources. C9 agreed the following goals: (1) to assemble information for each participating country on the methodology for economic evaluation of road projects, cost elements, and unit costs; and (2) to analyse and evaluate the differences between the various methods for assessing the range of cost elements, with a view to recommending further developments. The types of economic evaluation methods discussed are: cost-benefit analysis, cost-effectiveness analysis, multicriteria analysis, risk-benefit analysis, and environmental impact assessment. Four groups of methods of valuing impacts are outlined. Existing frameworks in member countries are summarised and compared, the potential for their harmonisation is considered, six major findings are stated, and seven conclusions are drawn.
Samenvatting