PLANNING OF ROAD CONSTRUCTION PROJECTS WITH A VIEW TO STIMULATING ECONOMIC GROWTH AND DEVELOPMENT

摘要

This paper provides an outline of how the economic evaluation and selection of road construction projects can be complemented by social evaluation with a view to achieving a more equitable welfare distribution within a developing country. The article commences by elaborating on the general economic benefits that can arise from investment in economically justified road infrastructure. The different classes of non-road-user beneficiaries are idenified and discussed. The operational characteristics of road transport that are conducive to the stimulation of economic activity are identified and described. The present inequality of income distribution in South Africa is dealt with briefly, followed by a discussion and analysis on the use of equity weights in project evaluation to help bring about a more equitable welfare distribution.