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作者

Yuan Wang;Haoya Ruan;Chuanhao Tian

来源

CITIES,Vol.130,Issue1,Article 103877

语言

英文

关键字

High-speed railway;Land price;Agglomeration shadow;Growth spillover;Core-periphery model

作者单位

School of Economics, East China Normal University, Shanghai 200062, China;Center for Real Estate Studying, Zhejiang University, Hangzhou 310058, China;School of Public Administration, Zhejiang University, Hangzhou 310058, China;Center of Social Welfare and Governance, Zhejiang University, Hangzhou 310058, China;School of Economics, East China Normal University, Shanghai 200062, China;Center for Real Estate Studying, Zhejiang University, Hangzhou 310058, China;School of Public Administration, Zhejiang University, Hangzhou 310058, China;Center of Social Welfare and Governance, Zhejiang University, Hangzhou 310058, China

摘要

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 HSR-induced 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.