Abstract
Over the last two decades, there have been several studies on productivity related to transportation investments in not only Japan but also several foreign countries. However, these prior studies did not achieve common results as they did not use a unified format for measuring the service level of the transportation network and using the dataset. Therefore, this study classifies previous studies from six points of view. These are analytical method, functional type, explained variable, service level of the transportation network, aggregation level, and estimation method. This study examines the differences in results caused by the diversity of analytical methods. In addition, this study estimates the production function using two analytical methods with Japanese data. Then, the relationship between the productivity and transport investments is revealed. From this result, several issues are confirmed.
Highlights
In the last two decades, there have been several studies about productivity related to transportation investments in Japan and several foreign countries, because it is assumed that transportation investments have a significant effect on economic growth
Yoshino et al [3] revealed that the marginal productivity of public investments decreased from 1970 to 1993. (See Ejiri et al [4], Tsukai et al [5], and Hayashi [6] for more information.) it is necessary to establish a method of estimation of the production function considering the service of the transportation investments; it is necessary to lead to a robust opinion
The second is the constant elasticity of substitution (CES) type, which involves the assumption that the elasticity of substitution is constant
Summary
In the last two decades, there have been several studies about productivity related to transportation investments in Japan and several foreign countries, because it is assumed that transportation investments have a significant effect on economic growth. (See Ejiri et al [4], Tsukai et al [5], and Hayashi [6] for more information.) it is necessary to establish a method of estimation of the production function considering the service of the transportation investments; it is necessary to lead to a robust opinion. OECD published a manual [7] on the method of measuring productivity The purpose of this manual was to solve the problem of the difference in the estimation process. The change in productivity can be compared on an international level using this manual This manual does not consider the formulation of the transportation service. The purpose of this study is to establish the normal analytical method of the production function including the formulation of the transportation service. This study indicates problems in each analytical method and analytical results using Japanese data
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