Economic appraisal of transport projects - a manual with case studies

This book provides a practical introduction to the economic appraisal of transport projects in developing countries. It defines the objectives of economic appraisal and describes the methodology of identifying, measuring, and comparing the economic costs and benefits of transport investments. It also illustrates the described concepts and techniques with fifteen case studies carefully selected to exemplify the kinds of problems typically encountered in the appraisal of transport projects. The case studies treat road, bridge, railway, pipeline, port, and airport projects and contain many numerical examples and tables. Intended as a primer on the application of cost-benefit analysis to transport investments, the book presents a wealth of detail on contemporary practice in the field. Key topics include transport sector planning; valuation of benefits, including transport cost reductions, economic development, time savings, accident reduction, and secondary benefits; traffic forecasting; shadow pricing; discounting costs and benefits; sensitivity and risk analysis; the optimum timing of projects; and economic as opposed to financial analysis.