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HIGHWAY INFRASTRUCTURE IN THE CZECH REPUBLIC AND ITS INFLUENCE ON GDP GROWTH RATE
Abstract
The economic performance of a country can be measured by various macroeconomic indicators. Gross domestic product (GDP) is considered as one of the most important and closely critical indicator of economic performance and can be defined as the market value of all the finished goods and services produced in the economy during a specific time period. GDP and its development in time is influenced by many factors. Transport infrastructure is one of the pillars of economic development. Good transport infrastructure is a prerequisite for economic growth in all countries. Transport infrastructure affects the development of many areas of the economy and its quality is also reflected in other indicators of economic performance of a country. It represents public capital, which plays an important role in investors' decisions whether to invest in the country or region, or not. The paper deals with the relationship between economic development (measured by the key macroeconomic indicator, GDP growth rate) and the quality of transport infrastructure in the Czech Republic. The attention is paid to the influence of the density of highway infrastructure in the Czech Republic on GDP. Improvements to highway infrastructure (the length of the highway network and its density) and their impact on GDP are assessed with regard to the development of indicators within the European Union. Statistical methods (regression and correlation analysis) are used for examining the relation between the two indicators.
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