Spillovers to Manufacturing Plants from Multimillion Dollar Plantations: Evidence from the Indonesian Palm Oil Boom
利用印尼棕榈油繁荣期的新种植园投资数据，研究发现当地种植园繁荣提高了制造业工厂的销售额和生产率，尽管蓝领工资上涨，且该效应并非由供应链联系驱动，而是与市场准入改善有关。
We estimate spillover effects to local manufacturing plants from the Indonesian palm oil boom, using a stacked difference-in-differences approach. We use new data on the establishment dates and ownership of palm oil mills to identify clean shocks from investments in new plantations. Local plantation booms increased sales and productivity of manufacturing plants, despite increasing blue-collar wages. Using confidential input-output data, we rule out the possibility that this effect is driven by supply chain linkages. Plants increased their share of tradable goods. Local road upgrades point to improved market access as an explanation for this shift.