Railroads of the Raj: Estimating the Impact of Transportation Infrastructure
利用英属印度的历史数据，通过一般均衡贸易模型分析铁路网络对贸易成本、价格、贸易量和实际收入的影响，并验证模型福利效应的充分统计量。
How large are the benefits of transportation infrastructure projects, and what explains these benefits? This paper uses archival data from colonial India to investigate the impact of India's vast railroad network. Guided by four results 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) increased real income levels; and (4) that a sufficient statistic for the effect of railroads on welfare in the model accounts well for the observed reduced-form impact of railroads on real income in the data.