Economic Impacts of Urban Transit Infrastructure Upgrading
Mass transit infrastructure can have a wide range of development benefits—many of which are not captured in traditional cost-benefit analysis. Beyond shorter commuting times and improved traffic, these investments can alter the economic landscape of a metropolis as firms and families relocate. And with proper land-use planning and development policies, these benefits can be amplified.
Using the estimated benefits of the planned North-South Railway project in the Philippines, a panel of experts explored how policy reforms tied to large-scale infrastructure projects can promote regional economic development.