Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/44158
Title: Does high-speed rail generate spillovers on local budgets?
Authors: Hernández González, Aday 
Jiménez González, Juan Luis 
UNESCO Clasification: 531212 Transportes y comunicaciones
Keywords: Alta velocidad
Transportes ferroviarios
Issue Date: 2014
Publisher: 0967-070X
Journal: Transport Policy 
Abstract: High-Speed Rail (HSR) infrastructure is costly and requires high investment during the construction and operation periods, which is mainly financed with public funds. This economic effort is seldom set off, which leads to subsidies with the money collected from public debt growth or tax pressure increases. The question that immediately emerges is whether the entrance of this new infrastructure generates economic spillovers at the local level and, consequently, improves local public budgets. To solve this question we use local data on economic activity, municipalities' characteristics and local financial data in Spain for the past decade (2001-2010). Our estimations by difference-in-difference analysis and using spatial data yield a general conclusion: when HSR comes to town, both local revenues and the local fiscal gap improve by mean 10% and 16%, respectively. These improvements primarily affect municipalities located within 5. km of an HSR station.
URI: http://hdl.handle.net/10553/44158
ISSN: 0967-070X
DOI: 10.1016/j.tranpol.2014.06.003
Source: Transport Policy[ISSN 0967-070X],v. 35, p. 211-219
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