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American Economic Review· 2018Q1

Railroads of the Raj: Estimating the Impact of Transportation Infrastructure

Dave Donaldson

Short summary

Railroads in colonial India significantly reduced trade costs, increased trade volume, and boosted real income levels, with a model-based statistic accurately predicting these welfare gains.

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Field: General Economics, Econometrics and Finance

General Economics, Econometrics and FinanceEconomics, Econometrics and Finance