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Highspeed Rail, Factor Flow and Regional Economic Disparities

【Authors】
BIAN Yuanchao, WU Lihua & BAI Junhong


【WorkUnit】
BIAN Yuanchao (School of Economics and Management, Southeast University, 211189)

WU Lihua (School of Economics and Management, Southeast University, 211189)

BAI Junhong (School of Business, Nanjing Normal University, 210023)

【Abstract】

The previous literature which studies the relationship between Hig-speed Rail and regional economic growth has ignored the impact of High-speed Rail on the regional economic disparities and the phenomenon of factor flow among regions. By analyzing the empirical facts of China's regional economic growth pattern in the context of High-speed Rail, and from the perspective of factor flow, this paper elaborates on the impact mechanism of High-speed Rail on regional economic disparities in detail. Meanwhile, this paper studies the impact of High-speed Rail on regional economic growth disparities through a qusai-natural experiment of whether the High-speed Rail shall be developed and based on the data of China's 287 cities during 2004—2014 period. According to the study, we found that High-speed Rail has a significant positive effect on the regional economic disparities through the flow of factors, that is to say, the opening of the High-speed Rail can widen the regional economic gap and produce polarization effect. Besides, the opening of High-speed Rail significantly expands the provincial capitals' economic disparity, but the effect on the non-provincial capitals is not significant. At last, the impact of the High-speed Rail on the regional economic disparities is characterized by a significant time effect, and the polarization effect has shown a trend of increasing and then decreasing.

 

JEL:R40, O18, J61

【KeyWords】
High-speed Rail, Regional Economic Disparities, Factor Flow, PSM-DID