Road accidents in Metro Manila: trends and socio-economic costs (2003-2008)
Date
2010-03
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Abstract
Since the Philippines is a developing country, it is important to know how much of GDP is loss from road accidents. This study is divided into two main parts. First, it explains and analyzes road accident trends in Metro Manila from 2003 to 2008. A regression based on Andreassen's model is then made, which shows the relationship of fatalities to vehicle volume and population. Second, it estimates the costs of road traffic accidents in Metro Manila from 2003-2008. The cost components estimated are victim-related costs, property damage and administration costs. Moreover, by using the human capital approach, this study proposes a different method for the valuation of human life affected by fatalities and injuries. This is done by using vehicle type as a proxy for income. The valuation for fatal accidents (in Php) of private car users is 8,684,183; while for private motorcycles and public vehicle users, is 2,816,492 and 1,031,037, respectively.
This paper hopes to bring the issue of road accidents to the forefront, by giving an estimate of how much economic output is lost from fatal, nonfatal injury and property damage only accidents. Also, recommendations are made in increasing road safety by improving the safety features of vehicles, the quality of road systems, and traffic management. These are investments worth pursuing to increase GDP and the quality of life.
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Keywords
Road accident, Socioeconomic costs, Traffic safety, Accident trends, Traffic management, Urban transportation