Access to high-speed rail and land prices in China's peripheral regions
被引:7
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作者:
Wang, Yuan
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机构:
East China Normal Univ, Sch Econ, Shanghai 200062, Peoples R ChinaEast China Normal Univ, Sch Econ, Shanghai 200062, Peoples R China
Wang, Yuan
[1
]
Ruan, Haoya
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机构:
Zhejiang Univ, Ctr Real Estate Studying, Hangzhou 310058, Peoples R ChinaEast China Normal Univ, Sch Econ, Shanghai 200062, Peoples R China
Ruan, Haoya
[2
]
Tian, Chuanhao
论文数: 0引用数: 0
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机构:
Zhejiang Univ, Sch Publ Adm, Hangzhou 310058, Peoples R China
Zhejiang Univ, Ctr Social Welf & Governance, Hangzhou 310058, Peoples R ChinaEast China Normal Univ, Sch Econ, Shanghai 200062, Peoples R China
Tian, Chuanhao
[3
,4
]
机构:
[1] East China Normal Univ, Sch Econ, Shanghai 200062, Peoples R China
[2] Zhejiang Univ, Ctr Real Estate Studying, Hangzhou 310058, Peoples R China
[3] Zhejiang Univ, Sch Publ Adm, Hangzhou 310058, Peoples R China
[4] Zhejiang Univ, Ctr Social Welf & Governance, Hangzhou 310058, Peoples R China
This paper examines how transport access affects the land values in peripheral regions, by exploiting the recent expansion of China's high-speed rail (HSR) network. Based on a nation-wide land transaction dataset and applying a DID-hedonic approach, we find that industrial parcels in distant peripheries benefit from the HSRinduced growth spillover, while residential parcels in the immediate vicinity of a high-tier core experience larger price appreciation after HSR connection. Based on comprehensive firm-level datasets, additional tests of the HSR impact on the location choice and performance of firms in peripheral regions show much similar patterns. These findings add to the understanding of the impact of HSR on the spatial distribution of economic activity. By accelerating the growth spillovers from the highly agglomerated urban core to remote peripheries, transport access can play an essential role in reducing spatial inequality. By contrast, peripheries neighboring highly agglomerated urban cores may benefit more from the relocation of residents from urban core, at the expense of a shrinking manufacturing sector due to agglomeration shadow effect.