Overview

The technological revolution linked to high speed rail (HSR) has been accompanied by myths and claims about its contribution to society and the economy. Although HSR is unquestionably a technological advance that has become a symbol of modernity, this review and analysis of the international experiences shows that the conditions necessary to have a positive impact, economically, socially and environmentally, are enormously restrictive. The Economics and Politics of High Speed Rail: Lessons from Experiences Abroad, by Daniel Albalate and Germà Bel, introduces the main questions policy makers and scholars should examine when considering and studying HSR implementation, with particular emphasis on the US’s recent interest in this technology and possible application in California. Albalate and Bel then review the experiences of the most significant implementations of HSR around the globe. This in-depth international perspective includes chapters on the pioneers of HSR (Japan and France), the European followers (Germany, Spain and Italy), as well as Asian experiences in China, Taiwan, and Korea. Albalate and Bel’s study provides a clear distinction between the myths and realities associated with this transportation innovation. Among the most relevant findings, this study highlights how HSR projects that do not satisfy highly restrictive conditions—on mobility patterns, measured costs, and economically rational designs—that make it desirable have been the source of huge financial debacles and the economic failure of HSR in most cases, which result in unfortunate consequences for taxpayers. The Economics and Politics of High Speed Rail is a rigorous investigation of the economic and political challenges and ramifications of implementing new public transportation technology.

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9780739171233

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This authoritative contribution to the literature on high-speed rail is rigorous, comprehensive, and timely. This book is a must-read for anyone truly interested in understanding the economics and politics of high-speed rail. -- Rick Geddes, Cornell University Albalate and Bel have written a book that should be required reading for transportation planners and government policymakers in the US. They chronicle the experience with HSR from around the world and distill important lessons for the US. They challenge policymakers to renounce the modernity offered by HSR and instead look closely at territorial, mobility, demographic, and economic characteristics of their location to decide if HSR is the best investment. Albalate and Bel write a careful analysis of HSR efforts in Japan, France, Spain, Germany, Italy, China, So. Korea, Taiwan and the US -- showing difference in finance (public, private and mixed), territory, emphasis on passenger or freight, changes in consumer demand and impacts on economic development in the nodes and the wider region. Their overall conclusion: Caution. -- Mildred E. Warner, Cornell University

This authoritative contribution to the literature on high-speed rail is rigorous, comprehensive, and timely. This book is a must-read for anyone truly interested in understanding the economics and politics of high-speed rail. -- Rick Geddes, Cornell University Albalate and Bel have written a book that should be required reading for transportation planners and government policymakers in the US. They chronicle the experience with HSR from around the world and distill important lessons for the US. They challenge policymakers to renounce the modernity offered by HSR and instead look closely at territorial, mobility, demographic, and economic characteristics of their location to decide if HSR is the best investment. Albalate and Bel write a careful analysis of HSR efforts in Japan, France, Spain, Germany, Italy, China, So. Korea, Taiwan and the US - showing difference in finance (public, private and mixed), territory, emphasis on passenger or freight, changes in consumer demand and impacts on economic development in the nodes and the wider region. Their overall conclusion: Caution. -- Mildred E. Warner, Cornell University [Daniel Albalate and Germa Bel] provide by far the most comprehensive review of the international experience with high speed rail in Europe and Asia, and mine it for insights on the circumstances in which high speed rail is financially viable, environmental sensible, and politically irresistible. It's a cautionary tale of how infrastructure systems can get overbuilt. -- Jose A. Gomez-Ibanez, Harvard University

This authoritative contribution to the literature on high-speed rail is rigorous, comprehensive, and timely. This book is a must-read for anyone truly interested in understanding the economics and politics of high-speed rail. -- Rick Geddes, Cornell University Albalate and Bel have written a book that should be required reading for transportation planners and government policymakers in the US. They chronicle the experience with HSR from around the world and distill important lessons for the US. They challenge policymakers to renounce the modernity offered by HSR and instead look closely at territorial, mobility, demographic, and economic characteristics of their location to decide if HSR is the best investment. Albalate and Bel write a careful analysis of HSR efforts in Japan, France, Spain, Germany, Italy, China, So. Korea, Taiwan and the US - showing difference in finance (public, private and mixed), territory, emphasis on passenger or freight, changes in consumer demand and impacts on economic development in the nodes and the wider region. Their overall conclusion: Caution. -- Mildred E. Warner, Cornell University [Daniel Albalate and Germa Bel] provide by far the most comprehensive review of the international experience with high speed rail in Europe and Asia, and mine it for insights on the circumstances in which high speed rail is financially viable, environmental sensible, and politically irresistible. It,s a cautionary tale of how infrastructure systems can get overbuilt. -- Jose A. Gomez-Ibanez, Harvard University

Author Information

Daniel Albalate is assistant professor of economics at the University of Barcelona. Germà Bel is professor of economics at the University of Barcelona.

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