Literature review
According to Welde et al. 2020, an improvement on rads may positively impact the lives of individuals utilizing such facilities. The study focuses on the impact that the introduction of tolls has imposed on the economic sector. The government of Norway has been identified to have invested in tolls. Welde Et al., 2020 identified loopholes in the studies that have been done before and decided to do further research on the field. In the past, there its preempted that there the financial impact of tolls may have been overestimating due to weak analysis on the financial results of tolls. The researcher utilized four tolled road projects that were in progress. Different methodology techniques were initiated, primarily quantitative, as there was a need to find the project’s optimal funding. The empirical assessment was implemented to gauge the net present value, given there are always financial and political constraints. From the study, Welde Et al., 2020 found significant impacts of tolling presented to the economic profitability of both the users and the government. Before the government invests in tolling, there should be an okay plan assessment of the investment to ensure that it positively impacts the users of the project.
According to Vaitkus, 2016 are the most significant national assets that should be given priority when a country is making any financial budget. The study seeks to determine the roads’ maintenance cost when it comes to the construction of footpaths. Roads pavement should be maintained at a higher level as it provides a good order in the highways. With well-maintained pavements, road accidents associated with a pedestrian is eradicated. The trends of increased output due to the smooth transport system makes the government and different administrators look for plans to make road maintenance more vibrant. The researcher urges that when new roads are being constructed or renovated, there should be an indicator to tell the life cycle defined by designers. Pavement should be given periodic monitoring to ensure that they remain in good condition. This assessment is essential to ensure that maintenance cost is cut off at a reasonable scale. Continuing funding of pavement conditions under grid level, with a long-term plan, allows to extend the life of the roadway, progress traffic safety and meet public demands. The all-inclusive analysis of maintenance of road and management systems commendations for their development and application are accessible in the study.
According to the study done by Do Et al., 2020, there exist social welfare implications pose by the expansion of road capacity. This also entails high occupancy vehicle, high occupancy toll and toll lanes. To measure the impacts of advancement in reads on welfare, the researcher takes into consideration several variables. These are; transport users, residents, private sector welfare and the regional economy. The research is done in Tarrant County and Dallas County as a case-study setting of this study. From the study, the results showed that high occupancy toll performs well as compare to the other two options. It resulted in advancement in social welfare to a net present value of $6. 7 billion.
Additionally, approximation outcomes do not give straightforward suggestions on what is to be done but gibes options on each of the criteria. According to the results, investment costs should not be altered. But there should be a high occupancy toll for impacts of the regional economy. For both corridor travel time and energy and environment cost, they should utilize all-tolled. The projected social welfare analysis assimilates these contradictory measures by putting a unified index in place and offers the superlative road-investment choice for the community.
Welde, M., Bråthen, S., Rekdal, J., & Zhang, W. (2020). Road investments and the trade-off between private and public funding. Research in Transportation Economics, 82, 100875.
Vaitkus, A., Čygas, D., Motiejūnas, A., Pakalnis, A., & Miškinis, D. (2016). Improvement of road pavement maintenance models and technologies. The Baltic Journal of Road and Bridge Engineering, 11(3), 242-249.
Do, W., Rouhani, O. M., Geddes, R. R., & Beheshtian, A. (2020). A comprehensive welfare impact analysis for road expansion projects: a case study. Case Studies on Transport Policy.