The Effects of Infrastructure Determinants on Economic Growth: European Union Sample
Keywords:Infrastructure Investments, Economic Growth, Transportation, Generalized Methods of Moments (GMM).
The infrastructure investments are analyzed by taking the EU 12 and EU 15 division into account as a contribution to previous studies. The study comprised the period between 1980-2010 for EU 15, EU 12 and EU 27 and used generalized momentum method (GMM). Results of the study show that telecommunications investments have positive effects on growth in all groups, energy investments have positive effects in EU 15-EU 27 groups and investments on railway and road have positive effects only in EU 27group.