From Roads to Riches: Infrastructure Development as a Method of Driving Growth in Romania National Economy

Rare? Ni?u, Robert Uricaru and Maria Negreponti-Delivanis
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Rare? Ni?u: Bucharest University of Economic Studies, Bucharest, Romania
Robert Uricaru: Bucharest University of Economic Studies, Bucharest, Romania
Maria Negreponti-Delivanis: University of Macedonia, Thessaloniki, Greece

PROCEEDINGS OF THE INTERNATIONAL CONFERENCE ON ECONOMICS AND SOCIAL SCIENCES, 2024, vol. 6, issue 1, 890-904

Abstract: Currently the European Union is making significant efforts for the homogenisation of economic policies at the European level in order to reduce the level of development discrepancy between the members. State differences occur in these processes, represented by the road infrastructure which plays a complementary role in reducing transport costs and facilitating mobility in this context the concept of E-Road as a turn point by the United Nation Economic Commission for Europe (UNECE), a central element of the Trans European Transport Network (TEN-T). These forms of roads are built and maintained according to strict equality and safety standards and are designed to improve connectivity between EU member states and other European countries. In addition, they play a crucial role in regional integration as they support the increase of the level of urban connectivity by connecting less developed regions with large economic centres. The current paper observed the impact of an economic development using an economic analysis that was carried out with data extracted from the Eurostat international database and the data used for the realisation of the case study are at the level of Romania, the variable including analyses the GDP (grow domestic product aggregate), aggregate final consumption and the length of state, provincial, and municipal roads. The econometric analysis revealed the high degree of correlation that is significant between the road infrastructure development and economic growth, underlying the importance of continued investment in E-Road to support economic progress within the European Union. Road infrastructure is a central component in the European Union’s efforts to create a more even and competitive economy. Investments in road infrastructure not only improve accessibility and mobility, but also help reduce transport cost and simulate economic activity, the use of the best technologies, and the most appropriate forms of road maintenance, so along with the modern forms of asphalting and intelligence monitoring of structures, facilitate economic growth and the regional development.

Keywords: roads; transportation policy; EU; development; infrastructure. (search for similar items in EconPapers)
JEL-codes: F63 O11 O18 O20 P17 Q01 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rom:conase:v:6:y:2024:i:1:p:890-904

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