Paving Streets for the Poor: Experimental Analysis of Infrastructure Effects
通过墨西哥首次随机分配街道铺设的实验，发现两年内家庭将增加的房产财富转化为更高的车辆拥有率、家电和房屋改善，成本效益分析显示街道铺设的资本化价值与建设成本相当。
We provide the first experimental estimation of the effects of the supply of publicly financed urban infrastructure on property values. Using random allocation of first-time street asphalting of residential streets located in peripheral neighborhoods in Mexico, we show that within two years of the intervention, households are able to transform their increased property wealth into significantly larger rates of vehicle ownership, household appliances, and home improvements. Increased consumption is made possible by both credit use and less saving. A cost-benefit analysis indicates that the valuation of street asphalting as capitalized into property values is about as large as construction costs.