ABSTRACT

Much of the debate has focused on the links between transport infrastructure investment and economic development within a traditional context of work, location and travel. As we have discussed in the previous chapter on investment, new forms of financing are required as public budgets become less available and as the role of the private sector is encouraged through possibilities such as the private finance initiative in the UK and public-private partnerships. In this chapter we give a complementary view of the evolving economy. Four main changes are highlighted, each of which will have a substantial effect on the demand for travel. The underlying argument is that novel methodological frameworks and forms of analysis are required to investigate the links between transport infrastructure investment and economic development.