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Has the Opening of High-Speed Rail Promoted the Balanced Development between Cities?—Evidence of Commercial and Residential Use Land Prices in China

Author

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  • Jiansheng Chen

    (School of Economics, Southwestern University of Finance and Economics, Chengdu 611130, China)

  • Xin Chen

    (School of Economics, Southwestern University of Finance and Economics, Chengdu 611130, China)

  • Ting Li

    (School of Economics, Southwestern University of Finance and Economics, Chengdu 611130, China)

Abstract

The impact of high-speed rail (the following text is written as HSR) on regional economy has become an important research hotspot in the world. Using the Difference in Differences (DID) method, this paper analyzes the influence of HSR opening in 223 cities from 2011 to 2018, considering the time delay effect of HSR opening. After the Propensity Score Matching Difference in Differences (PSM-DID) method and counterfactual regression for robustness test, and we analyzed the mechanism of the urban resident population and financial activities; the results show that: (1) The impact of HSR opening on residential land price is more positive than commercial use land price. (2) For residential land price, the opening of HSR has a greater positive effect on the land in urban areas. (3) The HSR has a more significant impact on the price of residential land in high-tier (second-tier and first-tier) cities, especially on urban area in first-tier cities (including new first-tier cities), and then their city area, followed by second-tier cities. (4) In addition to the impact starting time first, the impact coefficient of HSR on the land price in high-tier cities is higher than that in low-tier cities. (5) From the perspective of residential land price, within 5 years from opening, HSR plays a constant role in developed cities’ economy.

Suggested Citation

  • Jiansheng Chen & Xin Chen & Ting Li, 2022. "Has the Opening of High-Speed Rail Promoted the Balanced Development between Cities?—Evidence of Commercial and Residential Use Land Prices in China," Sustainability, MDPI, vol. 14(15), pages 1-25, August.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:15:p:9437-:d:877920
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    1. Yang, Wenhua & Lin, Yigang, 2024. "Effect of opening high-speed railway on family travel consumption," Finance Research Letters, Elsevier, vol. 69(PA).

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