ICEARC, Trabzon, Türkiye, 17 - 20 Nisan 2019, cilt.1, no.1, ss.2648-2657
ABSTRACT
Transportation has an
important role in the economics of a counrty. Transportation is
vital to the way one lead his life and eventually the success of national economy. Also, it has important
interactions with environment. Transportation facilities sometimes even shapes
the attitudes of people. In other words, transportation investments result in
sequence effects on many factors. Therefore, transportation investments and
their certain and uncertain effects have been a very popular area of study in
the literature. Many
studies have revealed that
transportation investments affect productivity
of countries through the level of public
investment, the rate of private capital formation, employment, use of labor by
production firms, real wages, rate of return,
accessibility and so on. On the other hand, transportation investments has also
some effects on socio-economic features such as happiness and wellbeing,
improvement and preservation of environment, the
noise caused by traffic, air quality, noncommercial travel time, greenhouse
gases, and journey quality. Transportation investments also affect the economic
growth and output, prices of residential and commercial properties, land uses,
location and output decisions, option values, ,labour
market participation. Many different models such as spatial hedonic
models, semi log hedonic model, vector error correction model, spatial
regression model, difference in difference model (DID), spatial pricing model,
linear pricing model are used to understand the relation between transportation
investments and the factors mentioned above. In order to analyze these models,
DID estimator, multiple linear regression, ordinary least square (OLS), Spatial
Autoregressive Regression (SARR) and Geographical Weighted Regression (GWR) are some of the methods used by the
researchers. This article review the literature and aims to perform a
comprehensive evaluation of the studies concerning the effects of
transportation investments.
Keywords: Transportation Investments, Accessibility, DID, Hedonic models, OLS, Regression,