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.
Documents
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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).
Updates to this page
Published 28 May 2026