To make Asia more economically sustainable and resilient against external shocks, regional economies need to be rebalanced toward regional demand- and trade-driven growth through increased regional connectivity. The effectiveness of connectivity depends on the quality of hard and soft...

This paper analyzes whether the expansion of regional airports in Germany caused positive spillover effects on the surrounding economies, exploiting the deregulation of the European aviation market as a quasi-experiment. Such potential spillovers are often used as an argument for the substantial...

This research assesses the implications of existing trends on future network investment, comparing alternative scenarios concerning budgets and investment rules. The main scenarios compare "stated decision rules", processes encoded in flowcharts and weights developed from official documents or...

Low-cost carriers (LCCs) have revolutionized the world of passenger air transport changing dramatically the aviation market, tourist behaviour and the way destinations are developing. Current paper deals with this phenomenal growth and explores the most important aspects, shaping their progress....

China's three-decade infrastructure investment boom shows few signs of abating. Is China's economic growth a consequence of its purposeful investment? Is China a prodigy in delivering infrastructure from which rich democracies could learn? The prevalent view in the economics literature and...

After the German reunification, interregional subsidies accounted for approximately four percent of gross fixed capital investment in the new federal states. We show that between 1992 and 2005 infrastructure and (small) business aid had a negative net impact on regional economic growth. This...

Chancellor Philip Hammond has been urged to increase government infrastructure spending to counteract any economic slowdown (demand management) and to improve the productive potential of the economy (supplyside reform). Yet the ‘Keynesian’ function of infrastructure spending ignores the...

This study is undertaken to determine the relative impacts of the uncertainty of macroeconomic variables on investment and make policy recommendations that may help dampen their fluctuations. In the study, generalized autoregressive conditional heteroscedasticity (GARCH) model was applied in the...

This paper explores the challenges created by debt and fiscal stability in countries where major infrastructure investment is proposed. This paper specifically focuses on the Lao People's Democratic Republic (Lao PDR) and the $6 billion Lao PDR-People's Republic of China (PRC) high-speed railway...