Transport infrastructure, oil prices, and economic growth: a bootstrap ARDL approach with a Fourier function Online publication date: Tue, 10-May-2022
by Cheng-Feng Wu; Youqin Pan
International Journal of Data Science (IJDS), Vol. 6, No. 4, 2021
Abstract: This study explores the nexus between transportation infrastructure and economic growth, controlling for the oil price in China. By applying a bootstrap autoregressive distributed lag (ARDL) with a Fourier function (ARDLF) on data during the period of 1980-2019, the novel ARDLF procedure confirms the existence of cointegration between the modes (road, rail, air and water) and economic growth. This study demonstrates that feedback causality exists between transport infrastructure (rail and air) and economic growth and one-way causality exists between the variables in road and water transport. More importantly, the impact of oil prices on economic growth varies across transport modes. The results of the study suggest that oil hedging and efficient transport modes should be promoted in the short run, and energy transition is needed for sustainable development in the long run. However, this trend may not hold due to the Covid-19 pandemic and the resulted economic recession.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Data Science (IJDS):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook