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Infrastructure endowment and investment as determinants of regional growth in the European Union

  • Crescenzi, Riccardo

    ()

    (Robert Schuman Centre of the European University Institute, Florence)

  • Rodriguez-Pose, Andres

    ()

    (London School of Economics)

This paper analyses the role of infrastructure endowment and investment in the genesis of regional growth in the European Union. It assesses the economic effects of the existence and improvement of transport networks in light of their interactions with innovation and local socio-economic conditions. The analysis accounts for spatial interactions between different regions in the form of spillovers and network externalities. The regression results highlight the impact of infrastructural endowment on regional economic performance, but also the weak contribution of additional investment. Regions having good transport infrastructure endowment and being well connected to regions with similar good endowments tend to grow faster. However, investment in infrastructure within a region or in neighbouring regions seems to leave especially peripheral regions more vulnerable to competition. Furthermore, the positive impact of infrastructure endowment on growth tends to wane quickly and is weaker than that of, for example, the level of human capital.

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Paper provided by European Investment Bank, Economics Department in its series EIB Papers with number 8/2008.

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Length: 40 pages
Date of creation: 18 Jul 2008
Date of revision:
Handle: RePEc:ris:eibpap:2008_008
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  1. Andres RodrIguez-Pose & Ugo Fratesi†, 2004. "Between Development and Social Policies: The Impact of European Structural Funds in Objective 1 Regions," Regional Studies, Taylor & Francis Journals, vol. 38(1), pages 97-113.
  2. Riccardo Crescenzi, 2005. "Innovation and Regional Growth in the Enlarged Europe: The Role of Local Innovative Capabilities, Peripherality, and Education," Growth and Change, Wiley Blackwell, vol. 36(4), pages 471-507.
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  5. Riccardo Crescenzi & Andrés Rodríguez-Pose & Michael Storper, 2007. "The territorial dynamics of innovation: a Europe-United States comparative analysis," LSE Research Online Documents on Economics 23328, London School of Economics and Political Science, LSE Library.
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  8. J.Peter Neary, 2001. "Of Hype and Hyperbolas: Introducing the New Economic Geography," Journal of Economic Literature, American Economic Association, vol. 39(2), pages 536-561, June.
  9. Andres Rodriguez-Pose & Riccardo Crescenzi, 2006. "R&D, Spillovers, Innovation Systems and the Genesis of Regional Growth in Europe," ERSA conference papers ersa06p371, European Regional Science Association.
  10. Jan Fagerberg & Bart Verspagen & Marjolein Cani�ls, 1997. "Technology, Growth and Unemployment across European Regions," Regional Studies, Taylor & Francis Journals, vol. 31(5), pages 457-466.
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  14. Peter Pedroni & David Canning, 2004. "The Effect of Infrastructure on Long Run Economic Growth," Department of Economics Working Papers 2004-04, Department of Economics, Williams College.
  15. Cheshire, Paul C. & Magrini, Stefano, 2002. "The distinctive determinants of European urban growth: Does one size fit all?," ERSA conference papers ersa02p100, European Regional Science Association.
  16. Alicia H. Munnell & Leah M. Cook, 1990. "How does public infrastructure affect regional economic performance?," New England Economic Review, Federal Reserve Bank of Boston, issue Sep, pages 11-33.
  17. Martin, Philippe & Rogers, Carol Ann, 1994. "Industrial Location and Public Infrastructure," CEPR Discussion Papers 909, C.E.P.R. Discussion Papers.
  18. Glomm, Gerhard & Ravikumar, B., 1994. "Public investment in infrastructure in a simple growth model," Journal of Economic Dynamics and Control, Elsevier, vol. 18(6), pages 1173-1187, November.
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