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Title:

Transportation Infrastructure Investment and Economic Growth at the MSA Level; Accounting for Spillover Effects

Accession Number:

01516402

Record Type:

Component

Availability:

Transportation Research Board Business Office

500 Fifth Street, NW
Washington, DC 20001 United States

Abstract:

Past research has reached inconsistent conclusions regarding the magnitude of the effect of transportation investment on economic output, mainly due to different levels of geographic disaggregation which in some cases did not allow for unobserved heterogeneity to be captured by the model specifications. Using panel data at the Metropolitan Statistical Area (MSA) level for the period 1980-2008 for the United States, the authors estimate Gross Regional Product (GRP) elasticities of highway transportation investment using Cobb-Douglas and transcendental logarithmic production functions, to allow for comparison across different functional forms. The level of geographic analysis of the research and the transportation infrastructure’s inherent network characteristics suggest the presence of spillover effects among neighboring MSAs. Using MSA and non-MSA levels of the variables of interest, the authors revisit the model specifications by testing for and accounting for the presence of spillover effects among neighboring MSAs, for different neighboring criteria. The estimation results support the hypothesis of economic interaction between neighboring areas, through productivity leakages and migration of production factors.

Supplemental Notes:

This paper was sponsored by TRB committee ADD10 Transportation and Economic Development.

Monograph Accession #:

01503729

Report/Paper Numbers:

14-4005

Language:

English

Corporate Authors:

Transportation Research Board

500 Fifth Street, NW
Washington, DC 20001 United States

Authors:

Kastrouni, Eirini
He, Xiang
Zhang, Lei

Pagination:

13p

Publication Date:

2014

Conference:

Transportation Research Board 93rd Annual Meeting

Location: Washington DC
Date: 2014-1-12 to 2014-1-16
Sponsors: Transportation Research Board

Media Type:

Digital/other

Features:

References; Tables

Identifier Terms:

Metropolitan Statistical Areas

Geographic Terms:

United States

Subject Areas:

Economics; Transportation (General); I10: Economics and Administration

Source Data:

Transportation Research Board Annual Meeting 2014 Paper #14-4005

Files:

TRIS, TRB, ATRI

Created Date:

Jan 27 2014 3:23PM