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Airports and Economic Development
Author(s) -
Green Richard K.
Publication year - 2007
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/j.1540-6229.2007.00183.x
Subject(s) - metropolitan area , variety (cybernetics) , population growth , population , function (biology) , regression analysis , economics , economic geography , econometrics , regional science , geography , statistics , demography , mathematics , sociology , archaeology , evolutionary biology , biology
This article tests whether the activity at a metropolitan area's airport helps predict population and employment growth. In regression equations explaining employment and population growth, the article uses various measures of airport activity, including boardings, originations, hub status and cargo volume. Because airports may be a function of, as well as a cause of, growth, the article instruments for airports by using geographical and lagged variables. It finds that, under a variety of specifications, passenger activity is a powerful predictor of growth; cargo activity is not.