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High‐speed Rail and Urban Economic Growth in China after the Global Financial Crisis

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Listed:
  • Shujie Yao
  • Fan Zhang
  • Feng Wang
  • Jinghua Ou

Abstract

High‐speed rail (HSR) has been an important driver of China's economic expansion over the last decade. Using data of 285 prefecture‐level cities over 2010–2014, this paper proposes an endogenous economic growth model to explain how and why HSR may have propelled China's economic growth by reducing the time‐space between cities. The research results show that HSR has a potent effect on urban economic growth and regional convergence. Ceteris paribus, HSR appears to have accelerated economic growth by more than 0.6 percent and the pace of regional economic convergence by approximately 2 percent per annum over the data period. Our research findings have important policy implications for the sustainability of China's economic development, backed by HSR.

Suggested Citation

  • Shujie Yao & Fan Zhang & Feng Wang & Jinghua Ou, 2019. "High‐speed Rail and Urban Economic Growth in China after the Global Financial Crisis," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 27(2), pages 44-65, March.
    • Handle: RePEc:bla:chinae:v:27:y:2019:i:2:p:44-65
    DOI: 10.1111/cwe.12274
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    Cited by:

    1. Yang Lu & Longji Zeng, 2022. "How Do High-Speed Railways Facilitate High-Quality Urban Development: Evidence from China," Land, MDPI, vol. 11(9), pages 1-15, September.
    2. Xuelu Xu & Mingbo Zheng, 2023. "High-speed rail construction and urban innovation disparity in China: the role of internet development," Economic Change and Restructuring, Springer, vol. 56(5), pages 3567-3599, October.
    3. Shujie Yao & Jing Fang & Hongbo He, 2020. "Can Time–Space Compression Promote Urban Economic Growth? Evidence from China's High‐speed Rail Projects," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 28(5), pages 90-117, September.
    4. Huang, Yan & Zong, Huiming, 2020. "The spatial distribution and determinants of China’s high-speed train services," Transportation Research Part A: Policy and Practice, Elsevier, vol. 142(C), pages 56-70.
    5. Zesen Qian & Lingran Yuan & Shuo Wang & Qizheng Zhang & Binlei Gong, 2021. "Epidemics, Convergence, and Common Prosperity: Evidence from China," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 29(6), pages 117-138, November.

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