Transport infrastructure trends and regional development

Abstract

This chapter provides an overview of recent trends on transport infrastructure development in European and OECD member countries and reviews the main benefits associated with it. It starts with a description of how transport infrastructure investment has changed across countries and regions, both in terms of the magnitude and its composition, paying particular attention to differences between urban and rural regions. Next, it moves onto reviewing the main benefits associated with an efficient transport system, all while making suggestions on how current evaluation tools, such as cost-benefit analysis, could be improved to account for all of them. It emphasises the need for different metrics that can better capture the potential of transport infrastructure improvements and the importance of taking a “more aggregate” view when evaluating investment projects that can account for potential displacement of economic activity. The main benefits are discussed in reference to the type of investment: interregional highway and railway – both traditional and high-speed – development, highway development in the proximity of cities and infrastructure development within cities.

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