Resulting from a booming shale-energy sector, from 2007 to 2014, real income per capita in North Dakota increased 40%. Does this reect the experience of a few oil-rich counties, or were the gains more evenly distributed across the region? We nd that the shale boom generated signicant economic gains for counties above and near the Bakken, but not for those further away. We also document signicant state-border eects which are not easily explained. Conditional on distance to the Bakken region, the shale boom generated limited outward migration from South Dakota and, perhaps as a result, the economic gains that accrued there were muted.
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