TUNNEL CHANNEL PROJECT VERSUS 3rd BRIDGE PROJECT OVER THE BOSPHORUS STRAIT

Abstract

This project deals with the problems of landroad dominated transportation system in Istanbul , and compares the social costs and benefits of Channel Tunnel (tube) and 3rd Bridge Projets respectively. Although , cost-benefit analysis of both projects proves that , the Channel Tunnel Project is indispensible with regard to principles of public economy. But , this project has been postponed , since big business successfully exerted heavy influence over the politicians in favour of 3rd Bridge Project over the Bosphoros . The Channel Tunnel Project not only generates positive external economies in the forms of decreasing death toll and pollutions , saving the foresty areas ; and reducing the petroleum consumption etc , but it also helps to connect the high speed train projects of EC countries to East Asia. For this reason , this project should be considered as an international public goods benefiting many countr i es and calls for contribution of nations be financed collectively. On the other hand , extension of Tunnel Project through high speed trains to Antalya , Urfa via Ankara and Trabzon will also contribute to the establishment of i nfrastructure of Turkish economy by encouraging tourism and industry .