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has been cited by the following article:

• TITLE: A Dynamic Panel Data Approach for the Analysis of the Growth Impact of Highway Infrastructures on Economic Development

  AUTHORS: Onur Kalan, Ilgin Gokasar

  KEYWORDS: Highway Investment, Highway Capital, Economic Growth, Panel Data, Dynamic Panel Data Model

  JOURNAL NAME: Modern Economy, Vol.11 No.3, March 26, 2020

  ABSTRACT: Turkey is a developing country where the transportation sector receives a considerable economic share. Roads are the pioneer mode of transportation in Turkey and the common opinion is that increasing highway networks lead to major changes in economic development. This paper focuses on the growth impact of highway infrastructure on economic development and recommends a dynamic panel data approach which is not common in the transportation economics literature. This model is applied to local regions that are located in the eastern and northern parts of Turkey to measure the effects of highway capital stocks on Gross Domestic Product (GDP) change between 2004 and 2016. The analysis reveals that the relationship between GDP and highway capital stock is positive, and statistically significant for local regions in Turkey. It is indicated that the findings of this paper can be a guide for policy and decision-makers and implemented into different regions and locations.