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The Economic Impact of Road Accidents: The Case of Sri Lanka

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  • Thangamani Bhavan

Abstract

The purpose of this study is to disclose accident-related indices and investigate the extent to which the road accidents impact on the economic performance of Sri Lanka during the period from 1977 to 2016. Annual time-series data are used to evaluate the accident indices for econometric analysis. Augmented Dickey–Fuller (ADF) unit root analysis and Johansen’s maximum likelihood estimator of the parameters of a cointegrating vector error correction model (VECM) are employed to test the stationary properties of the time series and to examine the long-run relationship between the variables, respectively. The results derived from the analysis confirm the existence of long-run relationship between the accident-related indices and macroeconomic indicators. The long-run elasticity values imply the signs and magnitude of impact of the accident indices on macroeconomic indicators. JEL: R41, H510, I310, I32

Suggested Citation

  • Thangamani Bhavan, 2019. "The Economic Impact of Road Accidents: The Case of Sri Lanka," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 20(1), pages 124-137, March.
    • Handle: RePEc:sae:soueco:v:20:y:2019:i:1:p:124-137
    DOI: 10.1177/1391561418822210
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    References listed on IDEAS

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    1. Devarajan, Shantayanan & Swaroop, Vinaya & Heng-fu, Zou, 1996. "The composition of public expenditure and economic growth," Journal of Monetary Economics, Elsevier, vol. 37(2-3), pages 313-344, April.
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    Cited by:

    1. Mohammad Mazharul Islam & Mohammad Nazrul Islam Mondal & Haitham Khoj, 2023. "Effects of Health Factors on GDP Growth: Empirical Evidence from Saudi Arabia," Sustainability, MDPI, vol. 15(11), pages 1-22, May.

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    More about this item

    Keywords

    Road accidents; fatality index; Sri Lanka; cointegration; health expenditure per capita; economic growth;
    All these keywords.

    JEL classification:

    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty

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