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Historical contribution of road infrastructure investment on economic growth, production per worker and income per capita in Costa Rica

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  • Santa Cruz Camacho, Camilo
  • Peréz Salas, Mónicka

Abstract

This paper tests the hypothesis of investment in road infrastructure affecting the economic growth of Costa Rica, from 1950 to 2017. To prove this, an economic growth function was estimated which, in addition to labor, private capital and human capital as inputs, it incorporates road capital under the approach of an atmosphere good that affects the economic dynamics. Results show a significant historical relationship between road infrastructure and economic growth, with elasticity estimates ranging from 0.12 to 0.21. These findings highlight the importance of increasing both the level and quality of investments to boost economic growth. Finally, the study suggests improvements in measurement methods and identifies future research directions.

Suggested Citation

  • Santa Cruz Camacho, Camilo & Peréz Salas, Mónicka, 2025. "Historical contribution of road infrastructure investment on economic growth, production per worker and income per capita in Costa Rica," Revista de Ciencias Económicas, Instituto de Investigaciones en Ciencias Económicas, Universidad de Costa Rica, vol. 43(1), December.
    • Handle: RePEc:rce:rvceco:54363
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    References listed on IDEAS

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    1. Paul Turner, 2010. "Power properties of the CUSUM and CUSUMSQ tests for parameter instability," Applied Economics Letters, Taylor & Francis Journals, vol. 17(11), pages 1049-1053.
    2. Barzin, Samira & D'Costa, Sabine & Graham, Daniel J., 2018. "A pseudo – panel approach to estimating dynamic effects of road infrastructure on firm performance in a developing country context," Regional Science and Urban Economics, Elsevier, vol. 70(C), pages 20-34.
    3. Mauro Pisu & Peter Hoeller & Isabelle Joumard, 2012. "Options for Benchmarking Infrastructure Performance," OECD Economics Department Working Papers 956, OECD Publishing.
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