觉》洞察力：基础设施与金融：印度 GQ 高速公路网络的证据

IF 5.7 1区经济学 Q1 ECONOMICS

Journal of Urban Economics Pub Date : 2023-09-09 DOI:10.1016/j.jue.2023.103593

Abhiman Das , Ejaz Ghani , Arti Grover , William Kerr , Ramana Nanda

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引用次数: 0

摘要

我们利用印度储备银行的数据研究了印度黄金四边形（GQ）高速公路项目对金融依赖型活动的影响。在 GQ 沿线地区，贷款量增加了 20%-30%，而且更依赖外部融资的行业的贷款量更大。贷款增长始于分行平均规模的扩大，以及 GQ 前贷款活动较多的地区。新分行开设较晚，这与扩大分行网络的短期调整成本相一致。这些模式在使用延迟投资 NS-EW 高速公路的安慰剂测试中并不明显。结果表明，初始金融基础设施的深度决定了基础设施投资对地方的影响。

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JUE insight: Infrastructure and Finance: Evidence from India’s GQ highway network

We use data from Reserve Bank of India to study the impact of India’s Golden Quadrilateral (GQ) highway project on finance-dependent activity. Loan volumes increase by 20%–30% in districts along GQ and are stronger in industries more dependent upon external finance. Loan growth begins with increases in average branch size and in places with more pre-GQ loan activity. New branch openings come later, consistent with short-run adjustment costs to expanding branch networks. These patterns are not evident in placebo tests using delayed investments in NS-EW highways. Results suggest the depth of initial financial infrastructure shapes how infrastructure investments impact localities.

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来源期刊

Journal of Urban Economics Multiple-

CiteScore

10.60

自引率

4.80%

发文量

期刊介绍： The Journal of Urban Economics provides a focal point for the publication of research papers in the rapidly expanding field of urban economics. It publishes papers of great scholarly merit on a wide range of topics and employing a wide range of approaches to urban economics. The Journal welcomes papers that are theoretical or empirical, positive or normative. Although the Journal is not intended to be multidisciplinary, papers by noneconomists are welcome if they are of interest to economists. Brief Notes are also published if they lie within the purview of the Journal and if they contain new information, comment on published work, or new theoretical suggestions.