Author: Dave Donaldson
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 0
Book Description
This paper examines the historical impact of railroads on the American economy. Expansion of the railroad network may have affected all counties directly or indirectly - an econometric challenge that arises in many empirical settings. However, the total impact on each county is captured by changes in that county's "market access," a reduced-form expression derived from general equilibrium trade theory. We measure counties' market access by constructing a network database of railroads and waterways and calculating lowest-cost county-to-county freight routes. As the railroad network expanded from 1870 to 1890, changes in market access were capitalized into county agricultural land values with an estimated elasticity of 1.1. County-level declines in market access associated with removing all railroads in 1890 are estimated to decrease the total value of US agricultural land by 64%. Feasible extensions to internal waterways or improvements in country roads would have mitigated 13% or 20% of the losses from removing railroads.
Railroads and American Economic Growth
Author: Dave Donaldson
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 0
Book Description
This paper examines the historical impact of railroads on the American economy. Expansion of the railroad network may have affected all counties directly or indirectly - an econometric challenge that arises in many empirical settings. However, the total impact on each county is captured by changes in that county's "market access," a reduced-form expression derived from general equilibrium trade theory. We measure counties' market access by constructing a network database of railroads and waterways and calculating lowest-cost county-to-county freight routes. As the railroad network expanded from 1870 to 1890, changes in market access were capitalized into county agricultural land values with an estimated elasticity of 1.1. County-level declines in market access associated with removing all railroads in 1890 are estimated to decrease the total value of US agricultural land by 64%. Feasible extensions to internal waterways or improvements in country roads would have mitigated 13% or 20% of the losses from removing railroads.
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 0
Book Description
This paper examines the historical impact of railroads on the American economy. Expansion of the railroad network may have affected all counties directly or indirectly - an econometric challenge that arises in many empirical settings. However, the total impact on each county is captured by changes in that county's "market access," a reduced-form expression derived from general equilibrium trade theory. We measure counties' market access by constructing a network database of railroads and waterways and calculating lowest-cost county-to-county freight routes. As the railroad network expanded from 1870 to 1890, changes in market access were capitalized into county agricultural land values with an estimated elasticity of 1.1. County-level declines in market access associated with removing all railroads in 1890 are estimated to decrease the total value of US agricultural land by 64%. Feasible extensions to internal waterways or improvements in country roads would have mitigated 13% or 20% of the losses from removing railroads.
Railroads and American Economic Growth
Author: Robert William Fogel
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
Book Description
Publisher: Johns Hopkins University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
Book Description
Railroads and Amercian Economic Growth
Author: Dave Donaldson
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 44
Book Description
Railroads and Market Growth
Author: James Lester Sturm
Publisher:
ISBN:
Category : Chicago (Ill.)
Languages : en
Pages : 336
Book Description
Publisher:
ISBN:
Category : Chicago (Ill.)
Languages : en
Pages : 336
Book Description
The Railroad Grows Into an Industry (1840-1850)
Author: Kathleen Tracy
Publisher: Mitchell Lane Publishers, Inc.
ISBN: 1612283624
Category : Juvenile Nonfiction
Languages : en
Pages : 52
Book Description
Prior to the 1820s, the main form of commercial transportation in America was steamboats, which were able to move large quantities of freight and passengers. When the first railroads were built, they were initially seen as a novelty. But a handful of visionaries believed that railroads could transform the way business was conducted and create new opportunities for both established companies and independent entrepreneurs. In the 1840s and the 1850s, the railroad industry would experience tremendous growth and become the primary means of moving goods throughout the United States. Expansion of the rail system stimulated the economy, promoted manufacturing, and turned railroads into one of the most valuable industries in the world, making their owners millionaires and industrial–age power brokers in the process. Railroads also helped make America one of the most dominant economic powers in the world.
Publisher: Mitchell Lane Publishers, Inc.
ISBN: 1612283624
Category : Juvenile Nonfiction
Languages : en
Pages : 52
Book Description
Prior to the 1820s, the main form of commercial transportation in America was steamboats, which were able to move large quantities of freight and passengers. When the first railroads were built, they were initially seen as a novelty. But a handful of visionaries believed that railroads could transform the way business was conducted and create new opportunities for both established companies and independent entrepreneurs. In the 1840s and the 1850s, the railroad industry would experience tremendous growth and become the primary means of moving goods throughout the United States. Expansion of the rail system stimulated the economy, promoted manufacturing, and turned railroads into one of the most valuable industries in the world, making their owners millionaires and industrial–age power brokers in the process. Railroads also helped make America one of the most dominant economic powers in the world.
Rail Deregulation
Author: United States. Congress. Joint Economic Committee. Subcommittee on Economic Growth and Stabilization
Publisher:
ISBN:
Category : Railroads and state
Languages : en
Pages : 936
Book Description
Publisher:
ISBN:
Category : Railroads and state
Languages : en
Pages : 936
Book Description
The Railroad Situation
Author: United States. Federal Railroad Administration. Office of Policy and Program Development
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 514
Book Description
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 514
Book Description
Measuring Productivity Growth in the U.S. Railroad Industry with an Estimate of Losses Resulting from Economic Regulation
Author: Douglas W. Caves
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 626
Book Description
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 626
Book Description
Railroads and American Economic Growth
Author: Robert William Fogel
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category : Railroads
Languages : en
Pages : 0
Book Description
The Move Toward Railroad Mergers
Author: Leon Hirsch Keyserling
Publisher:
ISBN:
Category : Consolidation and merger of corporations
Languages : en
Pages : 116
Book Description
Publisher:
ISBN:
Category : Consolidation and merger of corporations
Languages : en
Pages : 116
Book Description