Transformational transport infrastructure: cost-benefit analysis challenges

Abstract

Current economic conditions are dominated by the imperative for growth, so the planning context to transport infrastructure is increasingly one of supporting economic growth.This change creates challenges for the appraisal of transport projects particularly transformational ones.In this paper, the technique of transport cost-benefit analysis (CBA) is reviewed with particular emphasis on incorporating the wider economy impacts.CBA is a robust framework, but when dealing with truly transformational projects where land uses change, CBA methods need to develop.Further empirical evidence on the scale of economic change induced by the change in accessibility is also needed.