Rail Network Development and Economic Growth in Thailand
Rail Network Development and Economic Growth in Thailand

Summary/Abstract: This paper aims to analyze the impact of railway development on economic growth in the case of Thailand by measuring the total factor productivity (TFP) levels during 1993–2015 among seven sectors contributing to the country’s gross domestic product (GDP). The findings indicate that investment in railway development increases capital stock growth, whereas, the opposite is true for the subsequent period. The standard approach is applied to analyze the effect of railway capital stock measurement on Thailand’s economy. The empirical results suggest directional causality between railway capital stock and the economic growth of Thailand. As such, the growth of railway capital stock and stock per capita aims to achieve long-run economic growth. Improving the railway network creates railway capital stock accumulation.

• Details
• Contents