ICEARC, Trabzon, Turkey, 17 - 20 April 2019, vol.1, no.1, pp.2648-2657
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,