Transport infrastructure is a critical ingredient in economic development at all levels of income. It supports personal well-being and economic growth. Countries spend considerable amounts of money each year to build, maintain and improve their transport infrastructure. But how much, exactly, does transport infrastructure support economic development and wealth creation? What determines the magnitude of that impact?
Despite the importance of the transport sector, the lack of clear definitions and common practices to measure macro-level transport infrastructure spending hinders accurate measurement of how spending relates to economic growth, leading to less-informed decisions.