Cost-benefit analysis of the high-speed train in Spain

The high-speed train is a technological break-through in passenger transport which has allowed to increase railways share in modal split in medium range distances, competing with road and air transport. The first high-speed link in Spain was launched in April 1992, with high success according to occ...

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Bibliographic Details
Published in:The Annals of regional science 1997-06, Vol.31 (2), p.175-188
Main Authors: de Rus, Ginés, Inglada, Vicente
Format: Article
Language:English
Subjects:
Corridors
Cost
Cost analysis
Cost benefit analysis
Economics
High speed
High speed rail
High speed trains
Passengers
Project evaluation
Railroads
Railways
Regional
Regional development
Spain
Studies
Trains
Transportation
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Summary:The high-speed train is a technological break-through in passenger transport which has allowed to increase railways share in modal split in medium range distances, competing with road and air transport. The first high-speed link in Spain was launched in April 1992, with high success according to occupancy rates and public opinion of its quality, safety and impact on regional development. The Madrid-Sevilla corridor includes several routes (commuting, long-distance and services provided using high-speed infrastructure but with Talgo technology). In this paper, an ex post cost-benefit analysis is carried out from demand and cost data available and under several assumptions about the life span of the project, growth hypothesis, time and accident values, and with a social discount rate of 6% in real terms. Economic evaluation of the project shows that the Spanish high-speed train project should have not been carried out in 1987 in that particular corridor.[PUBLICATION ABSTRACT]
ISSN:0570-1864
1432-0592
DOI:10.1007/s001680050044