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Industry Productivity, Infrastructure and Road Transport Liberalization in Europe

出版	SSRN, 2008
URL	http://books.google.com.hk/books?id=wPzhzwEACAAJ&hl=&source=gbs_api

註釋In this paper we assess the impact of both the highways network and the degree of regulation in the road freight sector on industry productivity by estimating a Cobb-Douglas production function on a panel of twenty one manufacturing and service sectors of eleven EU countries observed over the period 1980-2003. The production function estimates suggest that the highways network elasticity is positive, although we find that there are differences across sectors and countries. Furthermore, we find that the degree of liberalization in the road freight sector might play an equally important role in driving industry productivity: in particular, we find a non-linear effect of deregulation, which seems to be more effective when the process starts from an already more deregulated environment. Our results suggest that policymakers should consider deregulating the road transport sector as the gains in industry production might be as important as those stemming from further extensions in the infrastructure network.