The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Turnpike Trusts

  • Dan Bogart
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2212

Abstract

Turnpike trusts were private organisations that built and operated toll roads in Britain and the United States during the 18th and 19th centuries. They emerged in 17th century Britain because local governments were unwilling to invest in roads. They issued bonds to finance investment and imposed tolls on road users. In Britain, travel times and freight charges declined by over 40% during 1750–1800; they fell also in the United States. Turnpike trusts also raised land values and promoted urbanisation. They show how changes in institutional arrangements can encourage infrastructure investment and promote economic development.

Keywords

Land values Turnpike bonds Turnpike trusts Urbanization 
This is a preview of subscription content, log in to check access

Bibliography

  1. Albert, W. 1972. The turnpike road system in England 1663–1840. Cambridge: Cambridge University Press.Google Scholar
  2. Bogart, D. 2005a. Did turnpike trusts increase transportation investment in eighteenth-century England? Journal of Economic History 65: 439–68.Google Scholar
  3. Bogart, D. 2005b. Turnpike trusts and the transportation revolution in eighteenth century England. Explorations in Economic History 42: 479–508.CrossRefGoogle Scholar
  4. Durrenberger, J. 1931. Turnpikes: A study of the toll road movement in the Middle Atlantic States and Maryland, 1968. Cos Cob: John E. Edwards.Google Scholar
  5. Klein, D. 1990. The voluntary provision of public goods? The turnpike companies of early America. Economic Inquiry 28: 788–812.CrossRefGoogle Scholar
  6. Klein, D., and Majewski, J. 2004. Turnpikes and toll roads in nineteenth century America. In EH. Net Encyclopedia, ed. R. Whaples. Online. Available at http://eh.net/encyclopeida/article/Klein.Majewski.Turnpikes. Consulted 3 Nov 2005.
  7. Pawson, E. 1977. Transport and economy: The turnpike roads of eighteenth century Britain. New York: Academic.Google Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Dan Bogart
    • 1
  1. 1.