Galiani, Sebastián; Jaramillo, Luis F.; Uribe-Castro, Mateo - National Bureau of Economic Research - 2022
We study the impact of the Panama Canal on the development of Canada's manufacturing sector in the years from 1900 to … permitted the reallocation of production activity to places whose production levels had been inefficiently low before the Canal … Canal led to a 9% increase in manufacturing revenues and input expenditures. Productivity rose by 13%. These effects persist …