IMPORTANCE OF ROAD INFRASTRUCTURE IN THE ECONOMIC DEVELOPMENT AND COMPETITIVENESS
Keywords:Road infrastructure, expenditure on roads, resources of road infrastructure funding, gross domestic product, competitiveness
Purpose. The main goal of the presented paper is to highlight the effects of road infrastructure development on the economic growth and competitiveness of Slovak economy. We focused on the quality of the road network in the Slovak Republic, in particular motorways and expressways. It is the density and quality of the road infrastructure which primarily determine the competitiveness of the country. The paper also addresses the issue of expenditures and sources of funding related to the road infrastructure in the Slovak Republic. In addition, we analyze the road infrastructure in relation to competitiveness and foreign direct investments (FDI) inflow to the Slovak Republic. Moreover, we look at the road infrastructure in the relation to gross domestic product (GDP) and foreign direct investment.
Methodology. We used the method of time series and correlation method when dealing with the subject matter and when analyzing the effects of road infrastructure development on the economic growth and increase of competiveness of Slovak economy.The method of synthesis is used to draw conclusions and the method of comparison is used to compare general tendencies in the areas of road infrastructure, GDP and FDI. We use the time series analysis from 2000 until 2011 to examine the issues. Based on the analysis, we underscore the correlation between the GDP development and road infrastructure expenditures on the one hand and the inflow of foreign direct investments to the Slovak economy and its competitiveness on the other hand.