How large are the benefits of transportation infrastructure projects, and what explains these benefits? To shed new light on these questions, I collect archival data from colonial India and use it to estimate the impact of India's vast railroad network. Guided by six predictions from a general...

The UK airport industry faced regulatory reform following the 1986 Airports Act. The regulatory reform not only included privatisation of the then nationalised British Airports Authority, but also changed the airports that used to be directly owned and managed by local authorities into...