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Linking local business with global growth opportunities: the role of infrastructure

Author

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  • Debora Revoltella
  • Philipp-Bastian Brutscher
  • Alexandra Tsiotras
  • Christoph T. Weiss

Abstract

Infrastructure is instrumental when it comes to linking local businesses with their global growth opportunities. This paper shows that, by making this link, the transport network can act as a catalyst for regional economic growth. Using a novel approach, we find that firms in regions with a more developed transport infrastructure are better placed to benefit from positive growth opportunities than those in regions with a less well-developed transport network. This advantage is most pronounced in times of economic slack—making a better transport network a key ingredient for economic recovery. It is against this background that the recent slowdown in infrastructure investment in Europe is worrisome. But it is through this channel (among others) that the substantial ramp-up of activity by the European Investment Bank is expected to foster growth and enhance competitiveness in Europe.

Suggested Citation

  • Debora Revoltella & Philipp-Bastian Brutscher & Alexandra Tsiotras & Christoph T. Weiss, 2016. "Linking local business with global growth opportunities: the role of infrastructure," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 32(3), pages 410-430.
    • Handle: RePEc:oup:oxford:v:32:y:2016:i:3:p:410-430.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grw019
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    Cited by:

    1. Mark Roberts & Martin Melecky & Théophile Bougna & Yan (Sarah) Xu, 2020. "Transport corridors and their wider economic benefits: A quantitative review of the literature," Journal of Regional Science, Wiley Blackwell, vol. 60(2), pages 207-248, March.
    2. Chen, Liming & Lu, Yang & Nanayakkara, Aruna, 2023. "Rural road connectivity and local economic Activity: Evidence from Sri Lanka’s iRoad program," Transport Policy, Elsevier, vol. 144(C), pages 49-64.
    3. Mario Holzner & Monika Schwarzhappel, 2018. "Infrastructure Investment in the Western Balkans: A First Analysis," wiiw Research Reports 432, The Vienna Institute for International Economic Studies, wiiw.
    4. Roberts,Mark & Melecky,Martin & Bougna,Theophile & Xu,Yan-000462055, 2018. "Transport corridors and their wider economic benefits : a critical review of the literature," Policy Research Working Paper Series 8302, The World Bank.
    5. Hannes Thees, 2020. "Towards Local Sustainability of Mega Infrastructure: Reviewing Research on the New Silk Road," Sustainability, MDPI, vol. 12(24), pages 1-35, December.
    6. Ezra Berkhout & Lucie Sovová & Anne Sonneveld, 2023. "The Role of Urban–Rural Connections in Building Food System Resilience," Sustainability, MDPI, vol. 15(3), pages 1-22, January.
    7. Revoltella, Debora & Brutscher, Philipp-Bastian & Tsiotras, Alexandra & Weiss, Christoph, 2016. "Infrastructure investment in Europe and international competitiveness," EIB Working Papers 2016/01, European Investment Bank (EIB).
    8. Richard Grieveson & Mario Holzner, 2018. "Investment in the Western Balkans," wiiw Policy Notes 27, The Vienna Institute for International Economic Studies, wiiw.

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