Road traffic injuries and fatalities remain a major public health and economic challenge across the Eastern Partnership (EaP) countries, placing a significant burden on families, communities, and national economies. To design effective policies and allocate resources efficiently, it is essential to understand not only the human toll but also the economic cost of road traffic fatalities. One widely used approach for this purpose is the Value of a Statistical Life (VSL) — an estimate of the monetary value that society places on reducing the risk of death.

This note provides VSL estimates for Armenia, Azerbaijan, Georgia, Moldova, and Ukraine, derived using a value transfer methodology. The OECD identifies this method as the most transparent, with a level of reliability comparable to that of more complex function-based approaches. A recent study by Wijnen, Dahdah, and Pkhikidze employs this approach and incorporates updated VSL estimates based on studies conducted in 32 countries worldwide. This method allows for the adaptation of existing VSL estimates from low- and middle-income countries to local contexts by adjusting for national income levels of the countries. While not a substitute for country-specific primary research, value transfer offers a practical and policy-relevant starting point for economic assessments in contexts where local data is limited.

For the complete paper, please refer to the attached report (above).