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The Power of Hydroelectric Dams: Historical Evidence from the United States over the Twentieth Century

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  • Edson Severnini

Abstract

This paper evaluates large-scale hydroelectric dams built in the United States during the twentieth century. Combining panel event-study designs and synthetic control methods, two results stand out. First, dams constructed pre-1950 spurred short-run local growth, in large part thanks to a ‘cheap-local-power advantage’, and resulted in remarkable long-run growth, more than doubling local population density after 50 years. Second, dams constructed post-1950 had only modest effects on growth. The first result indicates agglomerative impacts on local economic activity. The second result suggests that the cheap-local-power advantage created by hydropower attenuated after 1950, probably because of such innovations as high-tension transmission lines.

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  • Edson Severnini, 2023. "The Power of Hydroelectric Dams: Historical Evidence from the United States over the Twentieth Century," The Economic Journal, Royal Economic Society, vol. 133(649), pages 420-459.
    • Handle: RePEc:oup:econjl:v:133:y:2023:i:649:p:420-459.
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    File URL: http://hdl.handle.net/10.1093/ej/ueac059
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