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

Autor:	Fan Zhang, Jinghua Ou, Feng Wang, Shujie Yao
Rok vydání:	2019
Předmět:	Economic expansion Ceteris paribus Development economics Financial crisis Sustainability Economics Convergence (economics) China Research findings General Economics Econometrics and Finance Pace
Zdroj:	China & World Economy. 27:44-65
ISSN:	1671-2234
Popis:	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.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::8e5646d390ca64acb668ba3682b54bc2 https://doi.org/10.1111/cwe.12274 Zobrazit plný text záznamu Plný text