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Prepared by Faizaan Kisat and Rossen Rozenov.
For example, construction of a new direct road from Nur-Sultan to Aktobe was estimated to reduce travel time by 7 hours compared to an existing road passing through Kostanay.
The definition is based on the median transportation exposure in 2018 which is 2.
In fact, at the time of the launch of “Nurly Zhol”, the reconstruction of the road connecting Shymkent to Aktobe had already been completed as part of the project Western Europe-Western China, and work was ongoing on the road from Shymkent to Almaty.
q indexes quarter and y indexes year.
Nurly Zhol’s rail projects mainly consist of a more than 1,000 km railway line built through the sparsely populated center of the country. Rail exposure is therefore zero for most of the firms in the sample, and therefore its (potential) endogenous placement is not likely to bias the results significantly.