A major concern of all decision makers has been to ensure that there are clear benefits from transport investment proposals. The travel time savings are clear, but the wider economic developments have presented enormous difficulty in terms of both theoretical arguments and empirical evidence. This book reviews the history of the debate and argues that the agenda has changed.
These issues are presented together with a major analytical investigation of macroeconomic models, evaluation in transport and microeconomic approaches. The final part of the book presents a series of case studies for road, rail and airport investment schemes, particularly focusing on the economic development aspects.
'A rewarding read and a treasure trove of references and ideas for future work.' Environment and Planning B
'It is a book not just for economists; it will be valuable to planners, geographers and analysts in government, consulting firms, transport and construction companies, and universities.' Journal of Transport Geography
'David Banister and Joseph Berechman have combined their own research with that of many others to spell out the relationship between transport and infrastructure and economic development, to the extent these are currently understood, in a lucid publication that will be difficult to ignore.' Journal of Transport Geography
'This new text will stiffen the resolve and provide ammunition for those who believe that transport investment should be subject to rigorous evaluation. ' - IJournal of Transport Geography