Maximising the economic returns of road infrastructure investment

Joynt, Hubert

dc.contributor.advisor	Brits, Anton, 1948-	en
dc.contributor.advisor	Shahia, M. (Mrad), 1945-	en
dc.contributor.author	Joynt, Hubert	en
dc.date.accessioned	2009-08-25T10:59:45Z
dc.date.available	2009-08-25T10:59:45Z
dc.date.issued	2009-08-25T10:59:45Z
dc.date.submitted	2004-11-30	en
dc.identifier.citation	Joynt, Hubert (2009) Maximising the economic returns of road infrastructure investment, University of South Africa, Pretoria, <http://hdl.handle.net/10500/2049>	en
dc.identifier.uri	http://hdl.handle.net/10500/2049
dc.description.abstract	The aim of this study is to explore ways to maximise the economic returns of road infrastructure investment. In order to achieve this objective, the study was divided into five parts involving the following: analysing the nature of road infrastructure, determining the relationship between road infrastructure investment and economic development, considering aspects of economic modelling, developing a formula of road investment, and refocusing road investment practices. In the first part the characteristics of road infrastructure are examined and the demand and supply approaches to road investment outlined. The focus is on the balanced approach versus the unbalanced approach to infrastructure investment. The second part analyses the causal relationship between road investment and economic development. Four components are highlighted, namely the investment component, the network-performance component, the transport economic component and the economic development component. The third part analyses the applicability of modelling techniques. In the fifth part, the formula of road investment and economic development is focused on four markets. Finally, it is argued that road infrastructure investment must be refocused. The following was found: Road infrastructure investment must be demand led. This is because of the characteristics of roads, namely their indivisibility, long gestation period, lumpiness and high cost. Road infrastructure investment can only realise economic development if the four causality components are complied with simultaneously. Input-output modelling is preferred in South Africa. The modelling strategy developed in this study is recommended for transport economic studies. The probability of economic returns of road infrastructure investment is a function of the real estate market, the land development market, the urban economic market and the infrastructure market. An agenda for reform in the road investment industry was also proposed. The study clearly identifies the relationship between road infrastructure investment and economic development, and the proposed formula is an appropriate tool for a first-order priority system.	en
dc.format.extent	1 online resource (various pagings)
dc.language.iso	en	en
dc.subject	Economic returns	en
dc.subject	Road infrastructure	en
dc.subject	Land development	en
dc.subject	Real estate	en
dc.subject	Urban economics	en
dc.subject	Economic development	en
dc.subject	Road investment	en
dc.subject	Economic modelling	en
dc.subject	Causality	en
dc.subject	Demand led	en
dc.subject	Priority system	en
dc.subject	Unbalanced approach	en
dc.subject	Nature of roads	en
dc.subject	Maximising returns	en
dc.subject	Decision making	en
dc.subject.ddc	388.110968227
dc.subject.lcsh	Roads -- Economic aspects -- South Africa -- Pretoria
dc.subject.lcsh	Infrastructure (Economics) -- South Africa -- Pretoria
dc.subject.lcsh	Land use -- South Africa -- Pretoria
dc.title	Maximising the economic returns of road infrastructure investment	en
dc.type	Thesis	en
dc.description.department	Transport Economics, Logistics and Tourism	en
dc.description.degree	D. Com. (Transport Economics)	en