Cart or Horse: Transport and Economic Growth
AbstractThis paper argues that transport is more cart than horse, in that transport improvements are not the most important driver of economic growth for most countries. Nevertheless there are circumstances in which transport is particularly important. Big transport breakthroughs – such as replacing walking with railways, or creating a highways network for the first time – do have big effects, but these are unlikely to be seen again in developed economies. Instead transport in developed economies is best seen as having a supporting role. If it is neglected, it can constrain growth, as congestion and unreliable transport systems can exact a heavy price. But as long as the transport system is “good enough”, the returns to greater transport investment will be relatively limited.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by OECD Publishing in its series International Transport Forum Discussion Papers with number 2011/4.
Date of creation: Apr 2011
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-08-22 (All new papers)
- NEP-ENE-2011-08-22 (Energy Economics)
- NEP-URE-2011-08-22 (Urban & Real Estate Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Leunig, Tim, 2005.
"Time is money: a re-assessment of the passenger social savings from Victorian British railways,"
Economic History Working Papers
22551, London School of Economics and Political Science, Department of Economic History.
- Leunig, Timothy, 2006. "Time is Money: A Re-Assessment of the Passenger Social Savings from Victorian British Railways," The Journal of Economic History, Cambridge University Press, vol. 66(03), pages 635-673, September.
- Jacobs, Jane, 1969. "Strategies for Helping Cities," American Economic Review, American Economic Association, vol. 59(4), pages 652-56, Part I Se.
- Tim Leunig, 2010. "Social Savings," Journal of Economic Surveys, Wiley Blackwell, vol. 24(5), pages 775-800, December.
- Harald Badinger, 2005. "Growth Effects of Economic Integration: Evidence from the EU Member States," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 141(1), pages 50-78, April.
- Rice, Patricia & Venables, Anthony J., 2004.
"Spatial Determinants of Productivity: Analysis for the Regions of Great Britain,"
CEPR Discussion Papers
4527, C.E.P.R. Discussion Papers.
- Rice, Patricia & Venables, Anthony J. & Patacchini, Eleonora, 2006. "Spatial determinants of productivity: Analysis for the regions of Great Britain," Regional Science and Urban Economics, Elsevier, vol. 36(6), pages 727-752, November.
- Patricia Rice & Anthony J. Venables, 2004. "Spatial Determinants of Productivity: Analysis for the Regions of Great Britain," CEP Discussion Papers dp0642, Centre for Economic Performance, LSE.
- Robert J. Barro, 2012.
"Inflation and Economic Growth,"
CEMA Working Papers
568, China Economics and Management Academy, Central University of Finance and Economics.
- Sergio Destefanis & Vania Sena, 2005. "Public capital and total factor productivity: New evidence from the Italian regions, 1970-98," Regional Studies, Taylor & Francis Journals, vol. 39(5), pages 603-617.
- Crafts, Nicholas & Mulatu, Abay, 2004.
"What Explains the Location of Industry in Britain, 1871-1931,"
CEPR Discussion Papers
4356, C.E.P.R. Discussion Papers.
- Nicholas Crafts & Abay Mulatu, 2005. "What explains the location of industry in Britain, 1871–1931?," Journal of Economic Geography, Oxford University Press, vol. 5(4), pages 499-518, August.
- Crafts, Nicholas & Knick Harley, C., 2002.
"Precocious British industrialization: a general equilibrium perspective,"
Economic History Working Papers
22368, London School of Economics and Political Science, Department of Economic History.
- N. F. R. Crafts & C. Knick Harley, 2002. "Precocious British Industrialization: A General Equilibrium Perspective," UWO Department of Economics Working Papers 200213, University of Western Ontario, Department of Economics.
- Martinez-Galarraga, Julio, 2012.
"The determinants of industrial location in Spain, 1856–1929,"
Explorations in Economic History,
Elsevier, vol. 49(2), pages 255-275.
- Julio Martinez-Galarraga, 2010. "The determinants of industrial location in Spain, 1856-1929," Working Papers in Economics 244, Universitat de Barcelona. Espai de Recerca en Economia.
- Metzer, Jacob, 1976. "Railroads in Tsarist Russia: Direct gains and implications," Explorations in Economic History, Elsevier, vol. 13(1), pages 85-111, January.
- Crafts, Nicholas & Mulatu, Abay, 2006.
"How Did the Location of Industry Respond to Falling Transport Costs in Britain Before World War I?,"
The Journal of Economic History,
Cambridge University Press, vol. 66(03), pages 575-607, September.
- Crafts, Nicholas & Mulatu, Abay, 2004. "How did the location of industry respond to falling transport costs in Britain before World War 1?," Economic History Working Papers 22555, London School of Economics and Political Science, Department of Economic History.
- Summerhill, William R., 2005. "Big Social Savings in a Small Laggard Economy: Railroad-Led Growth in Brazil," The Journal of Economic History, Cambridge University Press, vol. 65(01), pages 72-102, March.
- Joshua J. Lewer & Hendrik Van den Berg, 2003. "How Large Is International Trade's Effect on Economic Growth?," Journal of Economic Surveys, Wiley Blackwell, vol. 17(3), pages 363-396, 07.
- Philippe Aghion & Peter Howitt, 1997. "Endogenous Growth Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262011662.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.