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Incorporating Wider Economic Impacts within Cost-Benefit Appraisal

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  • Anthony J. Venables

    (University of Oxford)

Abstract

This paper analyses three main mechanisms through which transport improvements have impacts that deliver real income gain over and above user-benefits. One is economic density and productivity, a second is induced private investment and associated land-use change, and a third is employment effects. There are relatively well-established methodologies for incorporating the first and third of these in cost-benefit appraisal, and these methodologies are reviewed in the paper. For the second, the paper outlines how transport induced investments can create consumer surplus, and describes a method for quantifying this in cost-benefit appraisal. Data issues encountered in implementing these methods are discussed.

Suggested Citation

  • Anthony J. Venables, 2016. "Incorporating Wider Economic Impacts within Cost-Benefit Appraisal," International Transport Forum Discussion Papers 2016/05, OECD Publishing.
    • Handle: RePEc:oec:itfaab:2016/05-en
    DOI: 10.1787/92d1034f-en
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    Cited by:

    1. Dale, Simon & Frost, Matthew & Ison, Stephen & Nettleship, Ken & Warren, Peter, 2017. "An evaluation of the economic and business investment impact of an integrated package of public transport improvements funded by a Workplace Parking Levy," Transportation Research Part A: Policy and Practice, Elsevier, vol. 101(C), pages 149-162.
    2. Wanle Wang & Ming Zhong & John Douglas Hunt, 2019. "Analysis of the Wider Economic Impact of a Transport Infrastructure Project Using an Integrated Land Use Transport Model," Sustainability, MDPI, vol. 11(2), pages 1-17, January.
    3. Jeanne Amar & Vincent Piron, 2020. "The Global Project Assessment Method: A New Tool to Bridge the Gap between Cost-Benefit Analysis and Budgetary Decisions," GREDEG Working Papers 2020-55, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    4. Jacomien van der Merwe & Stephan Krygsman, 2020. "The relationship between transport accessibility and employment duration," WIDER Working Paper Series wp-2020-56, World Institute for Development Economic Research (UNU-WIDER).

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