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Journal ArticleDOI

Transport investment and the promotion of economic growth

01 Sep 2001-Journal of Transport Geography (Pergamon)-Vol. 9, Iss: 3, pp 209-218
TL;DR: In this article, the authors have developed a new approach based on defining the set of necessary conditions for economic development to take place -in addition to the economic conditions, there are the investment conditions and the political and institutional conditions.
About: This article is published in Journal of Transport Geography.The article was published on 2001-09-01. It has received 554 citations till now. The article focuses on the topics: Project appraisal & Investment (macroeconomics).
Citations
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Journal ArticleDOI
01 Apr 2019
TL;DR: In this paper, the authors categorize the positive and negative effects of infrastructure and the interdependencies between infrastructure sectors, and find that infrastructure either directly or indirectly influences the attainment of all of the Sustainable Development Goals (SDGs), including 72% of the targets.
Abstract: Infrastructure systems form the backbone of every society, providing essential services that include energy, water, waste management, transport and telecommunications. Infrastructure can also create harmful social and environmental impacts, increase vulnerability to natural disasters and leave an unsustainable burden of debt. Investment in infrastructure is at an all-time high globally, thus an ever-increasing number of decisions are being made now that will lock-in patterns of development for future generations. Although for the most part these investments are motivated by the desire to increase economic productivity and employment, we find that infrastructure either directly or indirectly influences the attainment of all of the Sustainable Development Goals (SDGs), including 72% of the targets. We categorize the positive and negative effects of infrastructure and the interdependencies between infrastructure sectors. To ensure that the right infrastructure is built, policymakers need to establish long-term visions for sustainable national infrastructure systems, informed by the SDGs, and develop adaptable plans that can demonstrably deliver their vision. Investing in infrastructure systems will lock-in patterns of development for future generations. This study finds that infrastructure either directly or indirectly influences the attainment of all of the Sustainable Development Goals, including 72% of the targets.

298 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the effect of transportation infrastructure on economic growth in India over the period 1970-2010 using vector error correction model (VECM) and found that expansion of transport infrastructure (both road and rail) along with gross capital formation will lead to substantial growth of Indian economy.

267 citations

Journal ArticleDOI
TL;DR: In this paper, the spatial structure of car accessibility to towns and to railway stations during peak and off-peak hours in Belgium for the country's 2616 municipalities was compared using a clustering method, and it was shown that the situation is far from being spatially equitable in terms of accessibility, and some areas are more favored than others.

198 citations

Journal ArticleDOI
TL;DR: In this article, the authors examined the possibility of spatial spillover effects of transport infrastructure in Chinese regions and estimated the regional spillovers of the transport infrastructure stock by applying a spatial Durbin Model for the time-period 1978-2009, and also three sub-periods, 1978-1990, 1991-2000 and 2001-2009.

169 citations


Additional excerpts

  • ...For the case of Spain, the empirical findings show the variance: Cantos et al. (2005) confirmed the existence of very substantial spillovers; Álvarez et al....

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  • ...Even though the range of the measured economic growth effects varies widely among studies, the positive relationship between transport investment and economic development is now commonly accepted (Banister and Berechman, 2001; Berechman et al., 2006)....

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  • ...According to Banister and Berechman (2001), the increase in transport investment in one region could improve the network accessibility of this region and therefore enlarge its market scale....

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  • ...As the previous literature (Krugman, 1991; Fujita et al., 1999; Banister and Berechman, 2001) pointed out, in cases where labor migration is limited, the price of labor would increase with the agglomeration of industries (economic activities), and therefore increase the production cost....

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Journal ArticleDOI
TL;DR: In this paper, the authors conducted an empirical inquiry into the broader economic contribution of seaborne trade, from a port infrastructure quality and logistics performance perspective, considering 91 countries with seaports.
Abstract: Considering 91 countries with seaports, this study conducted an empirical inquiry into the broader economic contribution of seaborne trade, from a port infrastructure quality and logistics performance perspective. Investment in quality improvement of port infrastructure and its contribution to economy are often questioned by politicians, investors and general public. A structural equation model (SEM) is used to provide empirical evidence of significant economic impacts of port infrastructure quality and logistics performance. Furthermore, analysis of a multi-group SEM is performed by dividing countries into developed and developing economy groups. The results reveal that it is vital for developing countries to continuously improve the quality of port infrastructure as it contributes to better logistics performance, leading to higher seaborne trade, yielding higher economic growth. However, this association weakens as the developing countries become richer.

159 citations

References
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Journal ArticleDOI
TL;DR: In this paper, the authors present a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity, which is essentially a competitive equilibrium model with endogenous technological change.
Abstract: This paper presents a fully specified model of long-run growth in which knowledge is assumed to be an input in production that has increasing marginal productivity. It is essentially a competitive equilibrium model with endogenous technological change. In contrast to models based on diminishing returns, growth rates can be increasing over time, the effects of small disturbances can be amplified by the actions of private agents, and large countries may always grow faster than small countries. Long-run evidence is offered in support of the empirical relevance of these possibilities.

18,200 citations

Journal ArticleDOI
TL;DR: This paper developed a simple model that shows how a country can endogenously become differentiated into an industrialized core and an agricultural periphery, in which manufacturing firms tend to locate in the region with larger demand, but the location of demand itself depends on the distribution of manufacturing.
Abstract: This paper develops a simple model that shows how a country can endogenously become differentiated into an industrialized "core" and an agricultural "periphery." In order to realize scale economies while minimizing transport costs, manufacturing firms tend to locate in the region with larger demand, but the location of demand itself depends on the distribution of manufacturing. Emergence of a core-periphery pattern depends on transportation costs, economies of scale, and the share of manufacturing in national income. The study of economic geography-of the location of factors of production in space-occupies a relatively small part of standard economic analysis. International trade theory, in particular, conventionally treats nations as dimensionless points (and frequently assumes zero transportation costs between countries as well). Admittedly, models descended from von Thunen (1826) play an important role in urban studies, while Hotelling-type models of locational competition get a reasonable degree of attention in industrial organization. On the whole, however, it seems fair to say that the study of economic geography plays at best a marginal role in economic theory. On the face of it, this neglect is surprising. The facts of economic geography are surely among the most striking features of real-world economies, at least to laymen. For example, one of the most remarkable things about the United States is that in a generally sparsely populated country, much of whose land is fertile, the bulk of the population resides in a few clusters of metropolitan areas; a quarter of the inhabitants are crowded into a not especially inviting section of the East Coast. It has often been noted that nighttime satellite

7,730 citations

Journal ArticleDOI
TL;DR: In this article, the authors discuss the dynamics of consumer adoption decisions in the presence of network effects, competition between incompatible systems, and how suppliers choose which components are compatible and which are not.
Abstract: This paper discusses firm behavior, market performance, and the public and private institutions that arise in systems markets, i.e., markets where consumers use compatible components together to generate benefits. In such markets, which include communications networks and 'hardware/software' networks, popular products are inherently more valuable. These 'network effects' can drive corporate strategies and are critical in understanding innovation in many high-technology markets. The discussion here emphasizes the dynamics of consumer adoption decisions in the presence of network effects, competition between incompatible systems, and how suppliers choose which components are compatible and which are not.

2,413 citations

Posted Content
TL;DR: Anas et al. as discussed by the authors discuss the role that urban size and structure play in people's lives and how to understand the organization of cities, which yields insights about economy-wide growth processes and sheds light on economic concepts.
Abstract: Author(s): Anas, Alex; Arnott, Richard; Small, Kenneth A. | Abstract: An interview with Chicago's current mayor, Richard M. Daley:'New York is too big this way,' the mayor says, raising a thick hand over his head. Stretching both arms out at his sides, he adds, 'Los Angeles is too big this way. All the other cities are too small. We're just right.' (Bailey and Coleman, 1996, p. 6)Mayor Daley is catering to a widespread fascination with the roles that urban size and structure play in people's lives. Academic as well as other observers have long sought explanations for urban development patterns and criteria by which to judge their desirability. Furthermore, as we shall see, understanding the organization of cities yields insights about economy-wide growth processes and sheds light on economic concepts of long standing interest: returns to scale, monopolistic competition, vertical integration, technological innovation, innovation diffusion, and international specialization. Cities also are prime illustrations of some newer academic interests such as complex structural evolution and self-organization.

1,473 citations

Posted Content
TL;DR: In this article, the interplay between agglomerative and dispersive forces generates spatial structures that are complex and prone to multiple equilibria and dynamic path-dependence.
Abstract: Urban structure is increasingly characterized by decentralization, dispersion, and multiple employment centers Much is known empirically about such patterns, and about how the interplay between agglomerative and dispersive forces generates spatial structures that are complex and prone to multiple equilibria and dynamic path-dependence These forces operate at different spatial scales; many entail unpriced interaction, and external scale economies deriving from product differentiation and endogenous technical change appear particularly important Because these forces interact in complex ways, inefficiencies in urban structure are resistant to simple policy interventions

1,209 citations