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The efficiency of transport infrastructure investment and the role of institutions: an empirical analysis

Andreas Kyriacou, Leonel Muinelo-Gallo () and Oriol Roca-Sagalés

No 1802, Working Papers. Collection B: Regional and sectoral economics from Universidade de Vigo, GEN - Governance and Economics research Network

Abstract: In this article we analyze the efficiency of total transport investment in a sample of 34 countries over the period 1996 to 2010. We do so by way of Data Envelopment Analysis that evaluates countries according to their ability to achieve the maximum attainable infrastructure quantity and usage for a given investment volume. We find that the Central European countries, New Zealand and Japan are the most efficient when investing in transport infrastructure while the Eastern European countries, Russia, Turkey and Mexico are the least so. We moreover consider the role played by institutional or government quality when explaining cross-country differences in investment efficiency, based on truncated panel (and bootstrapped) regressions. We confirm the positive impact of institutional quality on efficiency even after controlling for a range of potentially confounding variables. Our analysis generates important policy implications for those concerned with the efficiency of transport infrastructure.

Keywords: transport infrastructures; efficiency; data envelopment analysis; panel data; government quality. (search for similar items in EconPapers)
JEL-codes: E02 E60 H11 H54 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cis, nep-mac and nep-tre
Date: 2018-02
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Persistent link: https://EconPapers.repec.org/RePEc:gov:wpregi:1802

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