There is a long-standing debate over whether new roads unavoidably lead to environmental damage, especially forest loss, but causal identification has been elusive. Using multiple causal identification strategies, this paper studies the construction of new rural roads to over 100,000 villages...

This paper uses the construction of India's Golden Quadrangle central highway network, together with comprehensive loan data from the Reserve Bank of India, to investigate the interaction between infrastructure development and financial sector depth. The paper identifies a disproportionate...