Scipediacontent: Scipediacontent moved page Draft Content 653531078 to Donaldson 2018a

2021-02-11T13:43:05Z

Scipediacontent moved page Draft Content 653531078 to Donaldson 2018a

Scipediacontent: Created page with " == Abstract == How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archiv..."

2021-02-11T13:43:02Z

Created page with " == Abstract == How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archiv..."

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== Abstract ==

How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archival data from colonial India and use it to estimate the impact of India's vast railroad network. Guided by six predictions from a general equilibrium trade model, I find that railroads: (1) decreased trade costs and interregional price gaps; (2) increased interregional and international trade; (3) eliminated the responsiveness of local prices to local productivity shocks (but increased the transmission of these shocks between regions); (4) increased the level of real income (but harmed neighboring regions without railroad access); (5) decreased the volatility of real income; and (6), a sufficient statistic for the effect of railroads on welfare in the model accounts for virtually all of the observed reduced-form impact of railroads on real income. I find similar results from an instrumental variable specification, no spurious effects from over 40,000 km of lines that were approved but never built, and tight bounds on the estimated impact of railroads. These results suggest that transportation infrastructure projects can improve welfare significantly, and do so because they allow regions to exploit gains from trade.

== Original document ==

The different versions of the original document can be found in:

* [http://dx.doi.org/10.1257/aer.20101199 http://dx.doi.org/10.1257/aer.20101199]

* [http://dx.doi.org/10.3386/w16487 http://dx.doi.org/10.3386/w16487]

* [http://eprints.lse.ac.uk/38368 http://eprints.lse.ac.uk/38368]

* [http://eprints.lse.ac.uk/38368/1/ARCWP41-Donaldson.pdf http://eprints.lse.ac.uk/38368/1/ARCWP41-Donaldson.pdf]

* [http://www.nber.org/papers/w16487.pdf http://www.nber.org/papers/w16487.pdf]

* [https://doi.org/10.3386/w16487 https://doi.org/10.3386/w16487]

* [http://eprints.lse.ac.uk/38368 http://eprints.lse.ac.uk/38368],
: [http://www.lse.ac.uk/collections/asiaResearchCentre http://www.lse.ac.uk/collections/asiaResearchCentre]

* [https://pubs.aeaweb.org/doi/pdf/10.1257/aer.20101199 https://pubs.aeaweb.org/doi/pdf/10.1257/aer.20101199],
: [http://dx.doi.org/10.1257/aer.20101199 http://dx.doi.org/10.1257/aer.20101199]

* [https://www.aeaweb.org/articles?id=10.1257/aer.20101199 https://www.aeaweb.org/articles?id=10.1257/aer.20101199],
: [https://ideas.repec.org/p/nbr/nberwo/16487.html https://ideas.repec.org/p/nbr/nberwo/16487.html],
: [https://EconPapers.repec.org/RePEc:aea:aecrev:v:108:y:2018:i:4-5:p:899-934 https://EconPapers.repec.org/RePEc:aea:aecrev:v:108:y:2018:i:4-5:p:899-934],
: [https://pubs.aeaweb.org/doi/pdf/10.1257/aer.20101199 https://pubs.aeaweb.org/doi/pdf/10.1257/aer.20101199],
: [https://architexturez.net/doc/az-cf-186583 https://architexturez.net/doc/az-cf-186583],
: [https://209.197.108.139/articles?id=10.1257/aer.20101199 https://209.197.108.139/articles?id=10.1257/aer.20101199],
: [https://academic.microsoft.com/#/detail/3021822145 https://academic.microsoft.com/#/detail/3021822145]

* [https://www.nber.org/papers/w16487.pdf https://www.nber.org/papers/w16487.pdf],
: [https://www.nottingham.ac.uk/gep/documents/conferences/2009/juneconf2009/donaldson-june2009.pdf https://www.nottingham.ac.uk/gep/documents/conferences/2009/juneconf2009/donaldson-june2009.pdf],
: [https://assets.publishing.service.gov.uk/media/57a08b08ed915d622c000a67/60427_Railroads_of_Raj.pdf https://assets.publishing.service.gov.uk/media/57a08b08ed915d622c000a67/60427_Railroads_of_Raj.pdf],
: [http://www.nber.org/papers/w16487.pdf http://www.nber.org/papers/w16487.pdf],
: [https://ideas.repec.org/p/ehl/lserod/38368.html https://ideas.repec.org/p/ehl/lserod/38368.html],
: [https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1696399 https://papers.ssrn.com/sol3/papers.cfm?abstract_id=1696399],
: [http://eprints.lse.ac.uk/38368 http://eprints.lse.ac.uk/38368],
: [https://www.minneapolisfed.org/research/conferences/research-events---conferences-and-programs/~/media/files/research/events/2009_05_01/donaldson.pdf https://www.minneapolisfed.org/research/conferences/research-events---conferences-and-programs/~/media/files/research/events/2009_05_01/donaldson.pdf],
: [https://econpapers.repec.org/RePEc:nbr:nberwo:16487 https://econpapers.repec.org/RePEc:nbr:nberwo:16487],
: [http://www8.gsb.columbia.edu/rtfiles/finance/International%20Economics/Fall%202009/dave%20donaldson.pdf http://www8.gsb.columbia.edu/rtfiles/finance/International%20Economics/Fall%202009/dave%20donaldson.pdf],
: [http://economics.sas.upenn.edu/system/files/event_papers/moneymacro03172010.pdf http://economics.sas.upenn.edu/system/files/event_papers/moneymacro03172010.pdf],
: [http://m.nber.org/papers/w16487 http://m.nber.org/papers/w16487],
: [http://r4d.dfid.gov.uk/PDF/Outputs/ESRC_DFID/60427_Railroads_of_Raj.pdf http://r4d.dfid.gov.uk/PDF/Outputs/ESRC_DFID/60427_Railroads_of_Raj.pdf],
: [http://www.ucl.ac.uk/economics/seminarpapers/february09/donaldson-job-market-paper.pdf http://www.ucl.ac.uk/economics/seminarpapers/february09/donaldson-job-market-paper.pdf],
: [https://academic.microsoft.com/#/detail/1733763653 https://academic.microsoft.com/#/detail/1733763653]

DOIS: 10.1257/aer.20101199 10.3386/w16487

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Donaldson 2018a - Revision history

Scipediacontent: Scipediacontent moved page Draft Content 653531078 to Donaldson 2018a

Scipediacontent: Created page with " == Abstract == How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archiv..."