In this article we discuss the relationships between transportation infrastructure, firm location, agglomeration and regional development. We will argue that the spatial transaction costs faced by modern firms have changed over recent decades, and that this has changed the ways in which...

The economic evaluation of transport projects relies primarily on the impact of the project on road users. Economic benefits are calculated from a reduction in the aggregate value of time saved by the users, as well as from savings on vehicle-operation and maintenance costs, reducion in traffic...