Dynamics of Transport Infrastructure, Exports and Economic Growth in the United States
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This paper focuses on the dynamic relationships among transport infrastructure, exports and
economic growth in the United States using a multivariate time-series analysis. Results suggest that
the formation of highways and streets affects economic growth indirectly through enhancing the
capital stock of non-transport infrastructure and crowding in private capital. The reverse causality
from economic output to highway and street infrastructure is observed. Aggregate capital stock
of non-transport infrastructure, excluding national defense, has sustainable positive effects on
economic output and exports over a number of years. Empirical evidence also shows that highway
and street infrastructure and non-transport infrastructure Granger cause exports.