Economic Analysis: Theory and Practice
 

Models to assess the effects of transport projects on economic growth: Specific aspects of methodology and practice

Vol. 17, Iss. 5, MAY 2018

Received: 22 January 2018

Received in revised form: 12 February 2018

Accepted: 21 March 2018

Available online: 29 May 2018

Subject Heading: EVALUATION OF INVESTMENT PROJECTS

JEL Classification: O22, R58

Pages: 871-885

https://doi.org/10.24891/ea.17.5.871

Patrakeeva O.Yu. Southern Scientific Center of RAS, Rostov-on-Don, Russian Federation
OlgaPatrakeyeva@yandex.ru

ORCID id: not available

Subject The article studies the macroeconomic consequences from and effects of infrastructure project implementation.
Objectives The purpose is to improve approaches to assessing the impact of infrastructure projects on the national and regional economy development.
Methods Using the econometric approach, I unveil significant indicators of transport activities having an effect on the economic growth of the Krasnodar Krai.
Results The paper presents a comparative analysis of methods and approaches to reviewing the impact of transport infrastructure on economic development that are applied by domestic and foreign researchers. It reveals methodology-related specific aspects, which should be taken into account when conducting empirical studies of the dependence of infrastructural projects' impact on economic growth. I perform an econometric analysis of significant growth drivers of the Krasnodar Krai's economy that relate to transport network development.
Conclusions The analysis of causal factors of the Krasnodar Krai's economy growth relating to transport infrastructure development shows the importance of increasing the volumes of cargo transportation by highway and rail transport. In future, this effect will be intensified due to implementation of the Kerch Strait Bridge construction project.

Keywords: large-scale project, transport, gross regional product, macroeconomic effect, economic modeling

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