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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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Published in: | The Annals of regional science 1997-06, Vol.31 (2), p.175-188 |
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Main Authors: | , |
Format: | Article |
Language: | English |
Subjects: | |
Citations: | Items that cite this one |
Online Access: | Get full text |
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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] |
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ISSN: | 0570-1864 1432-0592 |
DOI: | 10.1007/s001680050044 |