Can high-speed rail have a transformative effect on the economy?

Abstract

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Problems of Economic Assessement of Speed in Transport and Logistical Systems in the New Technological Paradigm

“…The most part of the discussion is related to the value of time. In particular, the study of mixed HSR transportations, namely, the integration of railway and air transports is investigated in the source [12]. The authors assess the influence of reduce of transportation time on the profits of operators and the growth of the value of this service for passengers.…”

“…В основном дискуссия связана с ценностью времени. В частности, исследование смешанных перевозок ВСМ, а именно интеграция железнодорожных и авиаперевозок исследуется в работе [12]. Авторы оценивают влияние сокращения времени перевозки на прибыль операторов и рост ценности данной услуги для пассажиров.…”

Beyond cost-benefit analysis: the search for a comprehensive evaluation of transport investment

“…have shown the limitations of conventional cost-benefit analysis for projects making such a claim, but do not present a clear blueprint for dealing with such projects. Vickerman (2017) addresses the question in terms of the claims made for high-speed rail projects and presents some evidence in terms of the structural changes in the economy following the introduction of high-speed rail services (see also Chen and Vickerman, 2017). Even though there is some support for the view that transport does contribute to some structural change, distinguishing the direct effects of a transport intervention from other factors in an ex post evaluation presents serious problems.…”

“…To illustrate the argument made above we take some evidence from recent and current projects in the UK (see Vickerman, 2015Vickerman, , 2016, for more detail). Since the application of the newer methods for estimating wider economic impacts is relatively recent and two of these projects are not yet complete it is difficult to assess the accuracy of these methods.…”

“…A more focused analysis of structural change (Vickerman, 2017;Chen and Vickerman, 2017) suggests that growth in GVA in the districts of Ashford and Dartford outperformed the regional average during the period up to and after the inauguration of the line. Looking at structural change, employment in knowledge-related industries also grew faster, especially in Dartford.…”