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Quantifying the Socio-economic Benefits of Transport

image of Quantifying the Socio-economic Benefits of Transport

This report sets out several of the recent advances, and suggests the most promising approaches, to the quantification and valuation of some of the wider economic benefits that flow from transport-related development. Economic appraisal can offer decision-makers important insights into the expected socio-economic impacts of transport projects. The sophistication of modern supply chains and the growing prominence of the services sector have increased the interest of decision-makers in economic benefits beyond those traditionally captured in transport appraisal.

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Incorporating wider economic impacts within cost-benefit appraisal

International Transport Forum

This chapter 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 chapter. For the second, the chapter 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.

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