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There have been several studies on red light cameras that have found that in general they increase accidents. However, a couple of those studies and some more indepth ones found that if you also paint the issue with a broad stroke, they tend to reduce fatalities and serious accidents (though not by much, in general).
Now a person's life is worth quite a lot, but if a camera say reduces fatalities from 10 every 5 years to 9 every 5 years, but increases the number of minor accidents and minor injuries from 100 every year to 200 every year...what is the societal benifit? Yes, one person is now alive (though they might be paralized/permenantly injured instead of simply dead), but now you have double the amount of damage and minor injuries.
Just about every study has found that a more effective way to reduce minor accidents and injuries AS WELL AS serious accidents and injuries is to length the duration of the yellow light. Sometimes by as little as 1 second can make a major impact.
A local study to me in Maryland found that a number of places that implemented red light cameras also shortened yellow lights, which dramatically increased accidents AND fatalities. In one case by over 300% at a red light (for minor accidents at least). In some cases the yellow light was as short as 1 second in a 55mph zone.
As for speed cameras, there has been few studies done in the US so far, but most point to them being revenue generating and have had little impact on accidents or fatalities. Most of which occur because of distracted driving, alcohol or drug use or reckless driving. Not actually speeding.
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