Guardian:
Do new roads boost the economy? The science is still finding its way
30 August 2017
Steve Gibbons, a member of a London School of Economics team that has produced a series of reports on the subject, says any claims that infrastructure investment is a cost-effective way of generating growth should be treated with caution. “What all these things are doing is working out time savings-based benefits; the monetary amount attached to the time a person saves; a certain amount per hour – it’s not directly looking at the impacts on GDP,” Dr Gibbons says.
Related publications
‘New Road Infrastructure: the Effects on Firms’, Stephen Gibbons, Teemu Lyytikäinen, Henry Overman and Rosa Sanchis-Guarner, SERC Discussion Paper No.117, September 2012
http://www.spatialeconomics.ac.uk/textonly/serc/publications/download/sercdp0117.pdf