Aggregate and regional economic eects of new
Economists expect positive returns to investments in infrastructure.
However a project with higher national returns might have less favorable
eects on a regional level than the alternative. Therefore new infrastruc-
ture should also be assessed on a regional level, but econom(etr)ic evalua-
tion models are scarce, especially in regional science. This paper proposes
new approaches to evaluate infrastructure by a dynamic spatial economet-
ric model that allows long-term predictions. We investigate the regional
eects for 2 Austrian railway projects and show that infrastructure returns
are positive on an aggregate and at a regional level but spatial variation
can be large.
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