Modern transport investments and regional economic growth: from the Voigt model to contemporary strategies

The article investigates the strategic role of modern transport investments in ensuring sustainable regional and macroeconomic growth. The analysis is built upon an evolutionary approach, tracing progression from the classical Fritz Voigt model (1830–1839) to the advanced transport infrastructure development strategies of the 21st century. Voigt’s model is viewed as a key theoretical framework that explains the gradual and cumulative impact of transport systems on economic development. This influence is accomplished by stimulating production concentration, enhancing labor mobility significantly, expanding internal and external markets substantially, and increasing regional business activity generally. Within the scope of this research, the historical Voigt model is adapted to the current socio-economic conditions of Azerbaijan. This adaptation accounts for global processes of digitalization, integration of the national economy into international value chains, and transformation of logistic networks. A particular emphasis is placed on the development of a highly efficient multimodal transport system, the rational allocation of investment resources across various transport modes, and formation of resilient transit corridors, such as "East-West" and "North-South." The results of the analysis indicate that effectiveness of transport investments significantly increases only with a comprehensive and strategic approach. Such an approach entails the synchronized development of rail, road, maritime, and air transport, alongside active participation in international and transit routes. It is underscored that modernization of transport infrastructure and its deep integration into the global transport system are critically important factors. These factors contribute to a sharp increase in the country's competitiveness activation of balanced regional development, and strengthening Azerbaijan's transit potential as a vital logistics hub for international trade and a driver of sustainable economic growth in the Caspian region.

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