This Round Table is one of a series of research events to discuss tools to improve transport planning. It addressed the macroeconomic effects of transport infrastructure policies, and aimed at identifying analytical and empirical tools that could determine the overall volume of public expenditure for transport infrastructure investment. It also sought to identify state-of-the-art methods for assessing the macroeconomic impact of transport infrastructure investment.  Background papers were provided by David Canning (Harvard University), Charles Hulten (University of Maryland) and Andreas Kopp (OECD/ECMT Transport Research Centre).

INTRODUCTORY REPORTS
Transportation Infrastructure, Productivity and Externalities by C.R. Hulten, United States
1. Transportation infrastructure and productivity: historical background
2. Infrastructure “channels” in the structure of production
3. Empirical results: India
4. Cross-national comparisons
5. Estimation of the infrastructure-productivity link: India
6. Estimation of the infrastructure-productivity link: the United States and Spain
7. Concluding remarks
The Rate of Return to Transportation Infrastructure by D. Canning, United States and E. Bennathan, United Kingdom
1. Introduction
2. The effect of infrastructure on aggregate output
3. The cost of infrastructure
4. The rate of return to infrastructure 
5. Conclusion .
Macroeconomic Productivity Effects of Road Investment – A Reassessment for Western
Europe by A. Kopp, OECD/ECMT
1. Introduction
2. The model
3. Data and econometric issues
4. Results
5. Concluding remarks
SUMMARY OF DISCUSSIONS
LIST OF PARTICIPANTS