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Infrastructure investment in Europe and international competitiveness

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  • Revoltella, Debora
  • Brutscher, Philipp-Bastian
  • Tsiotras, Alexandra
  • Weiss, Christoph

Abstract

Infrastructure investment in Europe has been adversely affected by the economic crisis, undermining both the immediate recovery and longer-term growth potential. This paper discusses recent trends before focusing on how transport infrastructure - arguably the hardest hit sector during the crisis - contributes to regional growth. It shows that firms in regions with a more developed transport network are better placed to benefit from positive growth opportunities than firms in other regions. This advantage is most pronounced in times of economic stress, making a good transport infrastructure a key ingredient for economic recovery. This indicates one channel through which the activities of the EIB can foster growth and enhance competitiveness in Europe.

Suggested Citation

  • 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).
    • Handle: RePEc:zbw:eibwps:201601
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    References listed on IDEAS

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    1. Obstfeld, Maurice & Taylor, Alan M., 1997. "Nonlinear Aspects of Goods-Market Arbitrage and Adjustment: Heckscher's Commodity Points Revisited," Journal of the Japanese and International Economies, Elsevier, vol. 11(4), pages 441-479, December.
    2. Geert Bekaert & Campbell R. Harvey & Christian Lundblad & Stephan Siegel, 2007. "Global Growth Opportunities and Market Integration," Journal of Finance, American Finance Association, vol. 62(3), pages 1081-1137, June.
    3. Wagenvoort, Rien & de Nicola, Carlo & Kappeler, Andreas, 2010. "Infrastructure finance in Europe: Composition, evolution and crisis impact," EIB Papers 1/2010, European Investment Bank, Economics Department.
    4. Kappeler, Andreas & Nemoz, Mathieu, 2010. "Public-Private Partnerships in Europe - Before and During the Recent Financial Crisis," Economic and Financial Reports 2010/4, European Investment Bank, Economics Department.
    5. Bergstrand, Jeffrey H, 1990. "The Heckscher-Ohlin-Samuelson Model, the Linder Hypothesis and the Determinants of Bilateral Intra-industry Trade," Economic Journal, Royal Economic Society, vol. 100(403), pages 1216-1229, December.
    6. 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.
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    Cited by:

    1. Archibugi, Daniele, 2017. "The social imagination needed for an innovation-led recovery," Research Policy, Elsevier, vol. 46(3), pages 554-556.
    2. Daniele Archibugi & Bengt-Åke Lundvall & Edward Steinmueller, 2016. "Science Fiction and Economic Cycles. A Dialogue on Technological Expectations," Management Working Papers 12, Birkbeck Department of Management, revised Nov 2016.
    3. Daniele Archibugi & Bengt-Ã…ke Lundvall & Edward Steinmueller, 2016. "(English) Science Fiction and Economic Cycles. A Dialogue on Technological Expectations (Italiano) Fantascienza e cicli economici. Un dialogo sulle aspettative tecnologiche," IRPPS Working Papers 90:2016, National Research Council, Institute for Research on Population and Social Policies.

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