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The Annals of Regional Science

, Volume 31, Issue 2, pp 175–188 | Cite as

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

  • Ginés de Rus
  • Vicente Inglada
Original

Abstract.

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.

Keywords

Life Span Economic Evaluation Discount Rate Public Opinion Regional Development 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1997

Authors and Affiliations

  • Ginés de Rus
    • 1
  • Vicente Inglada
    • 2
  1. 1.Department of Applied Economics, Universidad de Las Palmas de Gran Canaria, Campus de Tafira, E-35017 Las Palmas, SpainES
  2. 2.Ministerio de Fomento, Paseo de la Castellana, 67, E-28071 Madrid, SpainES

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