Highway infrastructure and local outcomes: measuring causal effects of infrastructure investments using cost-related instrumental variables

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dc.creatorVictor Medeiros
dc.creatorRafael Saulo Marques Ribeiro
dc.creatorPedro Vasconscelos Maia do Amaral
dc.date.accessioned2025-01-14T09:54:02Z
dc.date.accessioned2025-09-09T01:24:35Z
dc.date.available2025-01-14T09:54:02Z
dc.date.issued2023
dc.format.mimetypepdf
dc.identifier.urihttps://hdl.handle.net/1843/79182
dc.languageeng
dc.publisherUniversidade Federal de Minas Gerais
dc.relation.ispartofEncontro de Economia da Região Sul
dc.rightsAcesso Aberto
dc.subjectInfraestrutura (Economia)
dc.subjectDesenvolvimento Local
dc.subjectVariáveis instrumentais (Estatistica)
dc.subjectCusto
dc.subjectRodovia
dc.titleHighway infrastructure and local outcomes: measuring causal effects of infrastructure investments using cost-related instrumental variables
dc.typeArtigo de evento
local.citation.epage20
local.citation.issue26
local.citation.spage1
local.description.resumoAn extensive number of studies has examined the role of infrastructure on economic growth and development. However, results vary critically due to the empirical design and methodology. In this paper, we propose a novel identification strategy using the main infrastructure project costs as instrumental variables for our highway investment variable. We use data on national highway investment to estimate the causal impact of road infrastructure on local (municipal) outcomes. Our results show that, conditional on controls, our cost related IV identification strategy is suitable at identifying highway impacts on municipal outcomes. Findings remain unchanged under several specifications. Using our preferred estimated elasticity of 0.01, we calculate a return rate to highway investment of 24.2%, demonstrating a high road infrastructure rentability in Brazil.
local.publisher.countryBrasil
local.publisher.departmentFCE - DEPARTAMENTO DE CIÊNCIAS ECONÔMICAS
local.publisher.initialsUFMG
local.url.externahttps://www.anpec.org.br/sul/2023/submissao/files_I/i2-5489c19d5f7cdeb36b63c236a14eb3b9.pdf

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HIGHWAY INFRASTRUCTURE AND LOCAL OUTCOMES- MEASURING CAUSAL EFFECTS OF INFRASTRUCTURE INVESTMENTS USING COST-RELATED INSTRUMENTAL VARIABLES.pdf
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