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Correlation between Sectoral GDP and the Values of Road Freight Transportation in Colombia

Author

Listed:
  • Carlos Felipe Urazán-Bonells

    (Programa de Ingeniería Civil, Facultad de Ingeniería, Universidad Militar Nueva Granada, Cajicá 250247, Colombia)

  • Hugo Alexander Rondón-Quintana

    (Facultad del Medio Ambiente y Recursos Naturales, Universidad Distrital Francisco José de Caldas, Bogotá 110321, Colombia)

  • Carlos Alfonso Zafra-Mejía

    (Grupo de Investigación en Ingeniería Ambiental-GIIAUD, Facultad del Medio Ambiente y Recursos Naturales, Universidad Distrital Francisco José de Caldas, Bogotá 110321, Colombia)

Abstract

A correlation between economic development and road freight is demonstrated in the literature review provided in this paper. This relationship was studied in relation to the global gross domestic product (GDP) of the countries under review. Therefore, this paper presents the validation of this correlation in the Colombian case, based not only on global GDP, but also on the GDP for each of the main economic sectors of the country. The correlation was analyzed using several of the following statistical methods: correlation using the non-parametric method (Spearman), the causality relationship using the Granger test, the relationship between variables using Principal Component Analysis (PCA), and multivariate correlation to establish the level of significance of each economic sector by means of the p -value. The study concludes that the best correlation is between the GDP of some economic sectors and the amount of freight transported one year later.

Suggested Citation

  • Carlos Felipe Urazán-Bonells & Hugo Alexander Rondón-Quintana & Carlos Alfonso Zafra-Mejía, 2024. "Correlation between Sectoral GDP and the Values of Road Freight Transportation in Colombia," Economies, MDPI, vol. 12(8), pages 1-30, August.
    • Handle: RePEc:gam:jecomi:v:12:y:2024:i:8:p:205-:d:1457906
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    References listed on IDEAS

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    1. Kveiborg, Ole & Fosgerau, Mogens, 2007. "Decomposing the decoupling of Danish road freight traffic growth and economic growth," Transport Policy, Elsevier, vol. 14(1), pages 39-48, January.
    2. Doron Lavee & Gilat Beniad & Charles Solomon, 2011. "The Effect of Investment in Transportation Infrastructure on the Debt-to-GDP Ratio," Transport Reviews, Taylor & Francis Journals, vol. 31(6), pages 769-789.
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