Research on the Relationship between Highway Trip Demand and Social Economy in the New Normal Economic stage of China Based on Panel Data Analysis

Abstract

As China entered the new normal of economy, the economic growth rate and industrial structure are undergoing huge changes, which has also profoundly affected the traffic volume of expressways. Therefore, analyzing the relationship between socio-economic and transportation demand is crucial for transportation planning and demand management. This study analyzed the interaction of socio-economic and trip demand from 2008 to 2017, which was a crucial period for Shandong's industrial transformation and economic development. To achieve this goal, principal component analysis and panel data analysis methods were applied to our issue.