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Can high-speed train improve the innovation ability of enterprises?

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  • Weilong Wu
  • Tang Jing
  • Yang Xiaoli

Abstract

This paper analyzes the impact of high-speed train construction on enterprise innovation and its specific mechanisms by establishing high-speed train-city-firm level panel data and constructing a multi-period DID model in China. The results show that, firstly, the construction of a high-speed train significantly improves the innovation level of enterprises, and the construction of the first high-speed train can increase the number of patents of local listed enterprises by about 11.5%. Second, the impact of high-speed train construction on the innovation level of listed enterprises is mainly through the internal human capital and external marketization of enterprises. Specifically, the high-speed train construction affects innovation by weakening the transportation distance; on the other hand, it improves the external market environment and enhances the market competition, making firms seek innovation actively.

Suggested Citation

  • Weilong Wu & Tang Jing & Yang Xiaoli, 2022. "Can high-speed train improve the innovation ability of enterprises?," Journal of Applied Economics, Taylor & Francis Journals, vol. 25(1), pages 962-982, December.
    • Handle: RePEc:taf:recsxx:v:25:y:2022:i:1:p:962-982
    DOI: 10.1080/15140326.2022.2096954
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    Cited by:

    1. Wang, Ke-Liang & Jiang, Wei & Miao, Zhuang, 2023. "Impact of high-speed railway on urban resilience in China: Does urban innovation matter?," Socio-Economic Planning Sciences, Elsevier, vol. 87(PB).

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