The political economy of transportation investment
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- dc.contributor.author Ponzetto, Giacomo A. M.
- dc.contributor.author Glaeser, Edward L. (Edward Ludwig), 1967-
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2020-05-25T09:27:10Z
- dc.date.available 2020-05-25T09:27:10Z
- dc.date.issued 2017-01-01
- dc.date.modified 2020-05-25T09:25:09Z
- dc.description.abstract Will politics lead to over-building or under-building of transportation projects? In this paper, we develop a model of infrastructure policy in which politicians overdo things that have hidden costs and underperform tasks whose costs voters readily perceive. Consequently, national funding of transportation leads to overspending, since voters more readily perceive the upside of new projects than the future taxes that will be paid for distant highways. Yet when local voters are well-informed, the highly salient nuisances of local construction, including land taking and noise, lead to under-building.This framework explains the decline of urban mega-projects in the US (Altshuler and Luberoff 2003) as the result of increasingly educated and organized urban voters. Our framework also predicts more per capita transportation spending in low-density and less educated areas, which seems to be empirically correct.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1556
- dc.identifier.citation Economics of Transportation, 13, 2018, 4-26
- dc.identifier.uri http://hdl.handle.net/10230/33905
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1556
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword infrastructure
- dc.subject.keyword political economy
- dc.subject.keyword transportation investment
- dc.subject.keyword nuisance mitigation
- dc.subject.keyword elections
- dc.subject.keyword imperfect information
- dc.subject.keyword Macroeconomics and International Economics
- dc.title The political economy of transportation investment
- dc.title.alternative The Political Economy of Transportation Investment
- dc.type info:eu-repo/semantics/workingPaper