This paper draws and expands from a recent ex-post evaluation carried out for the European Commission aimed at assessing the long term effects produced by a sample of ten major infrastructures in the Transport and Environment sectors and interpreting the key determinants of the observed...

This paper presents the basic principles of the EU approach to cost-benefit analysis (CBA) of infrastructure projects, as embodied in the recently issued CBA Guide. After an introduction about the objectives and instruments of the 2007-2013 EU Cohesion Policy, and in particular the legal...

This paper offers a stylized model in which an agency is in charge of investing in road capacity and maintain it but cannot use the capital market so that the only sources of funds are the toll revenues. We call this the strict self-financing constraint in opposition to the traditional self...