TRANSPORT INFRASTRUCTURE DEVELOPMENT AND ECONOMIC GROWTH IN THE EUROPEAN UNION

Abstract

Transport infrastructure has a strategic importance in the social and economic development of countries. From Antiquity to the present day, transport infrastructure has aimed to facilitate freedom of movement, and access to goods, services, and information. Investments in the development of transport infrastructure led to economic growth, the development of trade, the increase of national and regional competitiveness, as well as the increase of the well-being of the population. The purpose of this article is to analyze the contribution that transport infrastructure manifests to the economic growth of European Union countries. Through this article we aim to explore the correlation between public expenditures on transport infrastructure and economic growth, using the data available in the Eurostat database. The obtained results confirm the hypothesis that, indeed, public spending on transport infrastructure contributes significantly to the economic growth of EU states. The main conclusion of the study carried out in this article supports the need for investments in the modernization and maintenance of the transport infrastructure to enhance sustainable economic growth and the well-being of the population.

Keywords

• transport infrastructure
• economic development
• transport policies