Researchers find a fast road out of poverty
Tuesday, April 19, 2016 - 09:30
in Mathematics & Economics
New research has measured the 'wealth effect' of upgrading the infrastructure in poorer sections of cities. Revamps, such as surfacing roads and joining them to the city grid, dramatically push up prices of the adjoining land and properties, says the study to be published in the journal, The Review of Economics and Statistics. Researchers from the University of Oxford and the University of Toronto measured how households who owned property in the upgraded roads were also allowed to spend more on credit so they could buy items for the home or cars that made them better off.