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Assessing the Value of Market Access from Belt and Road Projects (Английский)

The present value of market access from the Belt and Road Initiative in Eurasia does not exceed its costs. Many transportation projects are of little value because they fail to create new least-cost paths between large population centers, or because they create redundancy with paths already on the network. If built in isolation, only about one-third of projects provide market access gains. However, considering the proposed new transport infrastructure as a system, the share of projects that provide gains increases to almost two-thirds. International coordination and rigorous project selection allow mutual benefit from the investment program.

Подробная Информация

  • Автор

    Reed,Tristan, Trubetskoy,Alexandr

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  • Тип документа

    Рабочий документ в рамках исследования вопросов политики

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  • Регион

    Европа и Центральная Азия, Восточная Азия и страны Тихоокеанского региона, Южная Азия,

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  • Название документа

    Assessing the Value of Market Access from Belt and Road Projects

  • Ключевые слова

    market access; Association of Southeast Asian Nations; marginal product of capital; constant elasticity of substitution; low per capita income; benefit-cost analysis; state-owned banks; Present Value of Benefits; trade costs; cost benefit analysis; lower income countries; factor of production; high speed rail; bus rapid transit; high fixed cost; geographic information system; development research group; share of benefit; cost of transportation; economic feasibility study; high income cities; changes in trade; price of land; reductions in cost; value of land; vehicle operating cost; cost of production; volume of trade; construction and equipment; supply of land; cost of capital; economies of scale; elasticity of trade; expedited process; degrees of freedom; growth in population; measure of trade; default on loan; high opportunity cost; central bank policy; international trade model; transportation network; alternative specification; freight rate; least-cost path; project costing; discount rate; transportation investment; equilibrium model; gravity model; international transportation; consumer market; national income; labor share; transportation infrastructure; local income; upper bind; news source; trade flow; border cities; rural transportation infrastructure; sea freight; geographic scope; investment program; domestic transportation; metropolitan area; international integration; open access; incremental income; economic integration; large population; national gdp; economic union; factor mobility; trade elasticity; geographical information; coastal port; welfare impact; transport cost; short distance; research design; joint declaration; urban production; rural market; literature studies; road investment; academic journal; annual payment; agglomeration externality; dollar value; road upgrade; road transportation; land share; road connection; land price; market size; cargo capacity; shipping industry; price change; consumer price; rental rate; major highway; important component; baseline scenario; welfare gains; international network; rural area; welfare benefit; price adjustment; alternative scenarios; constant return; capital mobility; international cooperation; lower costs; cost ranking; public transportation mode; transport mode; port facility; across border; think tank; transit trade; simple average; applied tariff; capital flow; baltic sea; major route; road improvement; freight transport; depreciation costs; sea passage; transportation corridor; rail connection; project yield; International Public; high ratio; positive value; traffic corridor; domestic reform; urban agglomeration; population area; benefit equal; road corridor; government source; national interest; rank correlation; urban economics; parameter value; recent history; small country; high sensitivity; city productivity; value distribution; aggregate elasticity; sector model; high share; development policy; individual city; low rate; government loan; financial analysis; cost information; classification code; construction cost; project sponsor; reduce trade; road program; static gains; External Economies; alternative measure; research service; transportation planning; infrastructure program; horizontal axes; internal factor; local elite; trading partner; horizontal axis; population center; aggregate value; public good; sea route; factor share; city population; urban resident; negative slope; Energy Projects; Learning and Innovation Credit; national account; market outcome

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