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How do road infrastructure investments affect the regional economy? Evidence from Spain

Author

Listed:
  • Adriana Ruiz

    (Departament d'Economia Aplicada, Universitat Autònoma de Barcelona)

  • Anna Matas

    (Departament d'Economia Aplicada, Universitat Autònoma de Barcelona)

  • Josep Lluís Raymond

    (Departament d'Economia Aplicada, Universitat Autònoma de Barcelona)

Abstract

This paper analyses the relationship between road infrastructure improvements and investment in capital assets. Using aggregate data at a provincial level for 1977-2008, an equation for machinery and equipment investment is estimated applying Panel Corrected Standard Errors. The results indicate that the long-term elasticities of investment in relation to market potential, GDP and average years of schooling are 0.90, 0.75 and 0.80, respectively. Additionally, the long run impact of a road infrastructure investment policy is assessed. We find that the elasticities of investment in machinery and equipment, capital stock and GDP in relation to travel time are 1.18, 0.33 and 0.11, respectively

Suggested Citation

  • Adriana Ruiz & Anna Matas & Josep Lluís Raymond, 2016. "How do road infrastructure investments affect the regional economy? Evidence from Spain," Working Papers XREAP2016-09, Xarxa de Referència en Economia Aplicada (XREAP), revised Dec 2016.
    • Handle: RePEc:xrp:wpaper:xreap2016-09
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    Cited by:

    1. Andrés, Lidia & Padilla, Emilio, 2018. "Driving factors of GHG emissions in the EU transport activity," Transport Policy, Elsevier, vol. 61(C), pages 60-74.

    More about this item

    Keywords

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    JEL classification:

    • R4 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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