Аннотация:This paper shows that railroad building in Russia, as in Europe and the US in the nineteenth century, improved the value of land, a classic benefit of transportation investment in largely agrarian countries. From a database constructed for this paper, we use crosssectional data for the fifty European Russian regions to show the association of the length of the railroad (measured in 1894), land prices (measured in 1900) and annual growth of
land prices (in rubles) for 1885–1910.