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Cost-benefit analysis of the high-speed train in Spain

Author

Listed:
  • Vicente Inglada

    (Ministerio de Fomento, Paseo de la Castellana, 67, E-28071 Madrid, Spain)

  • GinÊs de Rus

    (Department of Applied Economics, Universidad de Las Palmas de Gran Canaria, Campus de Tafira, E-35017 Las Palmas, Spain)

Abstract

The high-speed train is a technological break-through in passenger transport which has allowed to increase railways share in modal split in medium range distances, competing with road and air transport. The first high-speed link in Spain was launched in April 1992, with high success according to occupancy rates and public opinion of its quality, safety and impact on regional development. The Madrid-Sevilla corridor includes several routes (commuting, long-distance and services provided using high-speed infrastructure but with Talgo technology). In this paper, an ex post cost-benefit analysis is carried out from demand and cost data available and under several assumptions about the life span of the project, growth hypothesis, time and accident values, and with a social discount rate of 6% in real terms. Economic evaluation of the project shows that the Spanish high-speed train project should have not been carried out in 1987 in that particular corridor.

Suggested Citation

  • Vicente Inglada & GinÊs de Rus, 1997. "Cost-benefit analysis of the high-speed train in Spain," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 31(2), pages 175-188.
    • Handle: RePEc:spr:anresc:v:31:y:1997:i:2:p:175-188
    Note: Received: July 1996 / Accepted: January 1997
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