The Economics of Road User Charges (World Bank) |  | Author: A.a. Walters
Publisher: The Johns Hopkins University Press
Category: Book
Buy Used: $15.00
Avg. Customer Rating:  1 reviews
Sales Rank: 3076367
Media: Paperback
Number Of Items: 1
Pages: 267
ISBN: 0801806534
EAN: 9780801806537
ASIN: 0801806534
Publication Date: January 1, 1969
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| Customer Reviews:
An oldie, but this seminal work is the culprit behind the current wave of urban congestion charges February 19, 2008
1 out of 1 found this review helpful
This book is a treatise aimed for transport economists and urban transportation planners and practitioners. The economic concepts discussed by Walters established the theoretical basis and economic rationale behind the urban tolls or congestion pricing schemes implemented in Singapore since 1975, and more recently in London (2003), Stockholm (2007), and Milan (2008), and of course, the 2007 failed attempt in New York City. I was lucky to grab a used copy thanks to Amazon.
The policies and strategies advocated in this book were supported and promoted by the World Bank, and until recently, Singapore was the only place in the world to implement the whole shebang, not only urban charges (actually, access permits) to deter traffic congestion, but also high gasoline taxes and all the harsh charges Singapore levied to discourage car ownership among Singaporean families.
You may wonder why if this book is 40 years old, how come Singapore was alone for a bit more than 25 years. Walters himself provided the answer. The book was written at a time when charging urban toll in every access of a city center was unthinkable. In fact, because of the technological limitations of the time, Walters indeed recommended to issue paper permits in order to manually control access to a restricted zone, exactly as Singapore did until 1998, when upgraded to electronic tolling. Because traffic congestion is ubiquitous in every major city in the world, and the more recent concerns about air pollution and greenhouse gas emissions (and all the externalities from auto travel, in economic jargon), congestion pricing is becoming very appealing. With the advent of reliable technology of electronic toll collection during the nineties, the missing piece was found, and voila!, we are now witnessing a wave of congestion pricing schemes to hinder traffic congestion.
Despite its age, this seminal work is still worth the reading for transport economists and engineers interested in understanding the economic rationale for the current wave of congestion pricing through urban tolling. Also recommended for those activists in favor or against urban road pricing schemes, but be aware that some basic knowledge of economics is required. For more updated textbooks dealing with these concepts, as well as analysis of real life applications, I recommend Kenneth Button's Transport Economics (1993), Economics of Urban Highway Congestion and Pricing (TRANSPORTATION RESEARCH, ECONOMICS AND POLICY Volume 9) (Transportation Research, Economics and Policy) (1999), and the more recent treatise by Kenneth Small, The Economics of Urban Transportation (2007), one of the leading researchers on this field.
PD: Of course economic theory is not enough, you also need a courageous major to face the negative public reactions and controversies created by this type of congestion relief approach, including angry motorists and the always powerful downtown retailers.
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