The Social Cost of Fatal Road Traffic Accidents in Singapore

摘要

This paper attempts to calculate the social cost of fatal road traffic accidents (RTA) in Singapore where, both private and external costs taken into account. The human capital approach is employed in the calculation of income loss. The social cost of fatal RTAs is about $42,551,046 for the year 1997 or $172,271 per fatal RTA. Loss of future income forms the largest share (50%) followed by congestion cost (33%). The remainder is made up of cost related to damage to properties (both private motor vehicles and public streetlights), cost of ambulances sent to accident scene, hospital and funeral costs, pain and suffering and loss of social services provided. Some of the possible ways of reducing the fatal RTAs are through education, raising the speed limits and having more and clearer road signs. Better education of young and elderly drivers in driving skills is important as they make up about 66% of all drivers involved in fatal accidents.