Roundtables on Transport Economics
Roundtables bring thirty or so experts together to discuss economic issues in depth in a personal capacity, free of political pressure. Under the direction of a chair, chosen for his knowledge and authority on the subject, a small number of introductory papers are presented and an open debate engaged between the experts invited to the event. The discussions aim to shed light on areas where there are differences of opinion between the experts present and in the economic literature, as well as bringing results of recent research to the table. The Ultimate objective is to draw conclusions relevant to policy making in government.

A summary of the debate together with the introductory papers will be published in the Roundtable Series of the Joint Transport Research Centre.

This page presents the Roundtables from 2007 on. For Roundtables to 2006 click here.
  • Major Transport Infrastructure Projects and Regional Economic Development - Assessment and Implementation
    Paris, 1-2 December 2011
    • The evolution of London’s Crossrail Scheme and the development of the Department for Transport’s economic appraisal methods
      Slides: Appraisal Practice; The Crossrail Approach
      Tom WORSLEY, Institute for Transport Studies (ITS), University of Leeds, United Kingdom
    • The ‘Grand Paris’ Project: Tools and Challenges        Projet du Grand Paris
      Slides: Le Grand Paris : quels outils quels enjeux ?
      André DE PALMA, Ecole Normale Supérieure de Cachan, France
    • Le réseau de transport public du Grand Paris - Slides
      Jean-Claude Prager, Société du Grand Paris
    • Maintained Hypotheses and Questions in Search of Answers - Slides
      Prof Marc Gaudry, Université de Montréal, Canada and Prof. Emile Quinet, Ecole des Pont ParisTech (ENPC)
    • Transport infrastructure and economic growth - Slides
      Dr Tim Leunig, London School of Economics
    • Transport infrastructure and the economics of cities - Slides
      Diego Puga, IMDEA Social Sciences

      Brief summary:

      • 40 of the world’s leading researchers and practitioners discussed the challenges of gauging the socio-economic costs and benefits of very large investments in transport networks. The issues are of perennial interest to researchers and decision-makers, but have become highly topical in the current macroeconomic environment which highlights trade-offs between the need to save and to maintain economies’ potential to grow.

      Participants concluded that good operational tools exist to get a view on the benefits of better transport options, even if the improvements constitute a significant departure from prevailing conditions, as in the case of Crossrail in London, for example.  The understanding of wider impacts of transport on the economy, including productivity and growth effects, is improving as well, allowing judgment on when such effects are likely to be significant and when they are not. 

      Appraisal of projects that aspire considerable change in the way regional economies function, including for example the Greater Paris public transport project, poses formidable challenges, however.  The reason is that effects will take very long to emerge and that they are dependent on a range of accompanying – non-transport – measures.  This means that uncertainty is at the heart of the analysis. Transport project appraisal then is only part of a broader evaluation effort that should aim to maximise the probability that envisaged benefits are realised.