ABSTRACT
We started out in this book with the intention of answering a single question. Does transport infrastructure investment in well-developed economies promote economic growth primarily at the urban level? This book has taken us on a long journey and a considerable way towards finding the answer. But what have we learned? We have tried first to develop a conceptual framework to encompass the many issues involved. Second, we have examined how local and regional growth issues are affected by new trends in economics and lifestyle, as well as by changes in behaviour. At the heart of the book we review existing analytical methods, including the development of a microeconomic modelling approach, to examine the underlying forces that contribute to economic growth and the complex interrelationships at work. A series of empirical studies complement the analytical research where other policy impacts and location factors, which also have an important influence on the economic state of urban areas, are assessed. In this final chapter, we summarize our perspective on this important fundamental question and think through the implications for policymaking and for further research. Our intention is to be controversial and thought provoking, as this question is one of the key determinants of decisions on transport infrastructure investment and one of the principal unresolved challenges to transport researchers.
