Research and analysis

Transport investment and economic growth elasticities

Uses meta‑analysis and a causal estimate to assess the impact of transport investment on economic growth in the UK.

• From: Department for Transport
• Published: 28 May 2026

Documents

Transport investment and economic growth elasticities

PDF, 602 KB, 29 pages

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Transport investment and economic growth elasticities: technical annex I meta-analysis

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Transport investment and economic growth elasticities: technical annex II UK-specific estimate

PDF, 747 KB, 34 pages

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Details

This study assesses how transport capital investment may affect economic output.

The report combines 2 research strands:

• a meta-analysis of international evidence, combining findings from 22 studies to generate benchmark elasticity estimates of economic growth, relating to changes in transport stock
• a UK-specific causal estimate using 23 years of regional data and instrumental variable techniques to isolate the effect of transport investment flows on short-run economic output

CEPA LLP has completed this research on behalf of the Department for Transport (DfT).

Published 28 May 2026