Principles of Transport Economics

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Transport continues to present considerable challenges for both policymakers and economists throughout the world. This book provides an analytical approach to transport economics and transport policy, showing how economic principles can be applied to problems and practical solutions derived. As well as providing coverage on the conventional topics of demand, costs, market structure, externalities, investment appraisal and regulation, the book also examines the wider role of transport in the economy as a whole. In addition, the authors address the link between transport and issues of location, urban and regional development, and economic growth. Throughout the book thre are frequent references to policy issues at both the national and EU level, complemented by a comprehensive discussion on the different ways in which policy has evolved in various European countries. The concluding chapter draws together some of the poblems encountered in moving from the theories and models developed inthe book to the actual implementation of specific policy measures. The authors believe that only policies based on a thorough understanding of the economics of transport can help solve some of the pressing problms facing governments across Europe.