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29 Jun 2019Working Paper Summaries

Infrastructure and Finance: Evidence from India's GQ Highway Network

by Abhiman Das, Ejaz Ghani, Arti Grover, William R. Kerr, and Ramana Nanda

In India, the Golden Quadrilateral highway network connects four major cities. This study of the relationship between the infrastructure project and development of the local financial sector finds that, in districts along and near the GQ, initial levels of financial development shaped how, and where, infrastructure investment could jumpstart real economic activity.