Road investments in developing and transition economies constitute a large proportion of public investment programmes. It is therefore important that decisions about investments in roads are made on the basis of objective indicators estimated for the proposed road projects. Economic appraisal models provide an objective framework for the assessment of the benefits derived from investments in road infrastructure. These models incorporate an economic appraisal framework based on the concept of life-cycle cost analysis, in which the annual costs of construction and maintenance of one or more road investment alternatives are compared against a base case (without project) alternative in order to estimate the corresponding reduction in vehicle operation costs. Other benefits or costs can be included within the economic appraisal framework if they can be externally quantified. The results from the economic appraisal of road projects in developing and transition economies often show that benefits to be derived from investments in maintenance and rehabilitation of existing roads far exceed those from construction of new roads. The models also show that where there is significant traffic congestion, investments in capacity expansion can produce high economic returns provided the value assigned to travel time is realistic.
Economic appraisal of road projects in countries with developing and transition economies
Reprints and Corporate Permissions
Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?
To request a reprint or corporate permissions for this article, please click on the relevant link below:
Academic Permissions
Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?
Obtain permissions instantly via Rightslink by clicking on the button below:
If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.
Related Research Data
Related research
People also read lists articles that other readers of this article have read.
Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine.
Cited by lists all citing articles based on Crossref citations.
Articles with the Crossref icon will open in a new tab.