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Does infrastructure really cause growth?: the time scale dependent causality nexus between infrastructure investments and GDP
Swedish National Road and Transport Research Institute, Society, environment and transport, Transport economics Stockholm.
2012 (English)Report (Other academic)
Abstract [en]

This paper investigates the relationship between infrastructure investments and economic activity in Sweden for the period 1800-2000. In order to overcome the problem of endogeneity, independent time scales are used to analyze the relationship. The paper also examines the dynamics between the variables by testing for causality in the Granger sense and constructing a vector autoregressive model separately for each time scale. The finding is that the causality nexus between growth and transport infrastructure investment is timescale-dependent since it reverses in a comparison of the short-run dynamics (2-4 years) and the longer-run dynamics (8-16 years). This causality reversal is unique for infrastructure investments compared to investments in other sectorsof the economy.

Place, publisher, year, edition, pages
Stockholm: Centre for Transport Studies Stockholm, Swedish National Road & Transport Research Institute (VTI), KTH Royal Institute of Technology, S-WoPEc, Scandinavian Working Papers in Economics , 2012. , 31 p.
Series
CTS Working Paper, 2012:15
Keyword [en]
Transport infrastructure, Investment, Development, Economics, Growth rate, Correlation (math, stat), Statistics, Analysis (math)
National Category
Economics
Research subject
Railway: General works, surveys, comprehensive works, Railway: Economics; Road: General works, surveys, comprehensive works, Road: Economics
Identifiers
URN: urn:nbn:se:vti:diva-669OAI: oai:DiVA.org:vti-669DiVA: diva2:669364
Available from: 2013-12-03 Created: 2013-12-03 Last updated: 2014-03-17Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf