A spatial econometric investigation into road traffic accessibility and economic growth: insights from the Chengdu-Chongqing twin-city economic circle

A prevailing question in contemporary transport research queries the contribution of transport infrastructure investment to regional and local economic growth. Notably, the benefits under consideration extend beyond travel-time savings to possible additional developmental benefits. Centering on the Chengdu-Chongqing twin-city economic circle, this study sheds light on this issue. It presents a comprehensive approach involving economic, investment, and political-institutional conditions, and underscores their synergistic operation in eliciting measurable economic benefits. We delve into the effects of road traffic accessibility on economic growth in 2019, using accessibility indicators integrated into a spatial econometric model. Our research relied on robust indicators of road traffic accessibility, transportation investments, and economic outputs from the Chengdu-Chongqing region. The study demonstrates that the road traffic network's development level is higher in the central area compared to the peripheral regions. Further, it reveals an uneven economic development distribution within the circle. Moreover, the spatial effect of road traffic on economic growth surfaces as an error term spatial interaction effect, highlighting accessibility's pivotal role. Factors like industrial infrastructure, labor force, and new economic geography also significantly affect growth. To wrap up, we discuss the broader implications of our findings. We suggest a stronger connection between road transportation and economic growth and stress the need to enhance the supporting economic environment. Our findings have broader implications, guiding policy and planning in other urban economic circles.