Welcome on piarc.org!

PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

This site uses cookies to optimize its operation. They allow you to securely access your personal space and download our publications. You accept their use by clicking on the "Accept" button.

Term of the Road Dictionary

external effect

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Effect resulting from an activity which has consequences for others not involved in the activity and is not reflected in market prices. Note: external effects can be either positive, when an external benefit is generated, or negative, when an external cost is generated.
  • Synonyms : externality

Back to theme