This paper addresses the gap in the literature concerning the impact of the Belt and Road Initiative (BRI) infrastructure projects at a regional level. Utilizing a staggered difference-in-differences approach, we analyze the effects of BRI transport infrastructure, including railways, roads, and logistic hubs, on local development. To achieve this, we develop a geographic dataset detailing the timelines of project implementation and completion, and combine it with night light output and population data at the pixel level. Our results indicate a modest increase in population development following project completion, but no significant long-term regional economic growth as measured by nightlight output. Logistic hubs demonstrate greater developmental impacts compared to railways and roads. Overall, this paper contributes to our understanding of the potential effects of transport infrastructure on regional economies.

We analyze how the construction of highways in Switzerland affected the stock, births, deaths, and movements of firms as well as the firm structure at the Swiss municipal level. To do so, we constructed a novel geo-referenced dataset containing all limited companies including information on all members of their board of directors between 1943 and 2003. We exploit the variation in the timing of the access and use a staggered difference-in-differences approach. We find positive and sizable effects on the number of firms in the treated municipalities. Then, we document heterogeneous effects depending on two measures of firm sizes. We also show heterogeneity between municipalities receiving an access to the highways earlier than those receiving it later. Based on the director’s data, we can extend our study to include an analysis of firm networks (through common directors) and how these might have been affected by highway construction.

In 2022, Germany introduced a temporary 9-euro monthly ticket for unlimited local and regional public transport. We investigate its impact on mobility patterns, including increased public transport usage, reduced car traffic, and rail network congestion. Using difference-in-difference and event-study analyses with GPS-based mobility, traffic volume, and rail traffic data, we find limited substitution between transportation modes, a strong increase in leisure train journeys, and notable adverse effects on rail infrastructure quality. These effects dissipate after the ticket’s expiration. Our study suggests caution regarding the expected environmental benefits of nearly fare-free ’go-anywhere’ public transport tickets, which are discussed in several countries.

Le Corbusier’s vision for the modern city was that of bright houses set into green open spaces. Today real estate developers around the world pursue the Corbusian vision of light and air for all. This paper provides both an economic rationale for, and a welfare assessment of, the resulting daylit city. When acquiring an entire city block and then building up on only a fraction of it, modern developers build bright homes. These developers internalize the positive externality of daylighting neighboring houses. Yet opening up blocks (to let daylight in) also perforates streetfronts. These developers fail to internalize another positive neighborhood externality: Now there are fewer ’eyes on the street’, and this reduces neighborhood safety and urbanity. From a welfare perspective, streetfronts become too coarse and city blocks become built up too sparsely. This inefficiency calls for a system of suitable property taxes.