Measuring the substitution effects between High Speed Rail and air transport in Spain.

The main objective of this paper is to estimate the impact that the expansion of the HSR network has had on air transport in Spain by estimating the substitution effect between the two types of transportation. This paper considers the way that the HSR network has grown and how this growth could have affected air transport dynamically. The findings show that a dynamic vision of this substitution rate should be adopted, as opposed to assuming that the rate is constant, as has been the case in previous references. Although the rate varies significantly over the study period, only 13.9% of HSR passenger demand was found to have come from air travel during the 1999–2012 period, meaning that HSR and airlines would seem to offer more independent services than at first it might appear. This confirms the hypothesis as to the HSR’s great ability to generate its own demand. The substitution rate between the two transport modes seems to be closely linked to the way that any new stations are incorporated into the HSR network. Convergence between the seasonality of HSR and air transport has also been examined. The results show that it is difficult to talk of a real HSR transport network in Spain. [ABSTRACT FROM AUTHOR]