DETERMINANTS OF SEAPORT PRODUCTION: ANALYSIS OF EU PORT REGIONS

Abstract

Seaports play an important role in the global economy, serving as international hubs for the transportation of goods, trade, economic growth, job creation, and strategic interests. Their continuous development and modernization are critical to supporting economic growth and addressing new challenges in the maritime industry. Adequate economic performance can contribute to efficient seaport production. The aim of this research is to analyse the impact of economic, demographic, and infrastructural factors influencing seaport production on a sample of 86 European Union (EU) port regions observed from 2009 to 2019. The pooled ordinary least squares (POLS), fixed effects (FE), and random effects (RE) estimation techniques were used as the estimation strategy. A significant positive effect of GDP per capita (economic factor) on seaport production was established. The research results further show that education and investment in R&D (demographic factors) are essential for seaport production. Finally, the results show that the motorways' length (infrastructural factor) significantly impacts seaport production. Based on these findings, the policies that promote digitalization and innovative technologies in seaport operations, strengthen workforce development, foster collaboration with educational institutions, and enhance multimodal connectivity are recommended.