Notes: All estimates are difference-in-differences estimates for coefficient Îșt for period t=1 (after the intervention). Standard errors are shown in parentheses. Statistical significance is denoted as follows: *** p<0.01; ** p<0.05; * p<0.1. The specification controls for time and enterprise fixed effects, as well as the following other time-varying factors: reported complaints about sewer overflows; respondent years with enterprise, number of total employees, reported obstacles to growth, and frequency of water interruptions. Alternative specifications without controls yield very similar results (see Appendix C). The subsample comparisons are as follows: WNP – Water Network Project treatment zones and matched control zones; WWNP – Wastewater Network Project treatment zones and matched control zones; Both – Water and Wastewater Network Project treatment zones and matched control zones.