Explaining light vehicle demand evolution in interurban toll roads: a dynamic panel data analysis in Spain

Gómez Sánchez, Juan and Vassallo Magro, José Manuel and Herraiz Tabernero, Israel (2015). Explaining light vehicle demand evolution in interurban toll roads: a dynamic panel data analysis in Spain. "Transportation", v. 42 (n. 2); pp. 1-26. ISSN 0049-4488. https://doi.org/10.1007/s11116-015-9612-3.

Description

Title: Explaining light vehicle demand evolution in interurban toll roads: a dynamic panel data analysis in Spain
Author/s:
  • Gómez Sánchez, Juan
  • Vassallo Magro, José Manuel
  • Herraiz Tabernero, Israel
Item Type: Article
Título de Revista/Publicación: Transportation
Date: March 2015
ISSN: 0049-4488
Volume: 42
Subjects:
Faculty: E.T.S.I. Caminos, Canales y Puertos (UPM)
Department: Ingeniería Civil: Transporte y Territorio
Creative Commons Licenses: Recognition - No derivative works - Non commercial

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Abstract

Tolls have increasingly become a common mechanism to fund road projects in recent decades. Therefore, improving knowledge of demand behavior constitutes a key aspect for stakeholders dealing with the management of toll roads. However, the literature concerning demand elasticity estimates for interurban toll roads is still limited due to their relatively scarce number in the international context. Furthermore, existing research has left some aspects to be investigated, among others, the choice of GDP as the most common socioeconomic variable to explain traffic growth over time. This paper intends to determine the variables that better explain the evolution of light vehicle demand in toll roads throughout the years. To that end, we establish a dynamic panel data methodology aimed at identifying the key socioeconomic variables explaining changes in light vehicle demand over time. The results show that, despite some usefulness, GDP does not constitute the most appropriate explanatory variable, while other parameters such as employment or GDP per capita lead to more stable and consistent results. The methodology is applied to Spanish toll roads for the 1990?2011 period, which constitutes a very interesting case on variations in toll road use, as road demand has experienced a significant decrease since the beginning of the economic crisis in 2008.

Funding Projects

TypeCodeAcronymLeaderTitle
Government of SpainTRA 2012-36590UnspecifiedUnspecifiedUnspecified

More information

Item ID: 36372
DC Identifier: http://oa.upm.es/36372/
OAI Identifier: oai:oa.upm.es:36372
DOI: 10.1007/s11116-015-9612-3
Official URL: http://link.springer.com/article/10.1007%2Fs11116-015-9612-3
Deposited by: Memoria Investigacion
Deposited on: 06 Jul 2015 12:41
Last Modified: 31 May 2019 15:55
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