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High-Speed Railway, Market Access, and Economic Growth

dc.contributor.authorWei Zou
dc.contributor.authorLiangheng Chen
dc.contributor.authorJunke Xiong
dc.date.accessioned2018-08-08T18:17:36Z
dc.date.available2018-08-08T18:17:36Z
dc.date.issued2018-07-15
dc.identifier.urihttp://hdl.handle.net/11540/8558
dc.description.abstractThis paper establishes a general equilibrium trade model and adopts the “market access” approach to measure the impact of the high-speed railway (HSR) network on the economic growth of 110 of the main prefecture-level cities of the People’s Republic of China, for which we manually collect the pairwise travel distances and railway speeds to calculate the market access (MA). The empirical results show that the launch of the HSR exerts significant positive effects on growth; specifically, a 1% increase in MA leads to an increase in real income of 0.123% (controlling the region fixed effect) or 0.121% (controlling the province fixed effect). Counterfactual econometric analysis indicates that, if all the HSR were removed in 2015, the market access would fall by an average of 76.2% and the aggregate real income would decline by up to 9.4%. The growth effect of the HSR varies across cities, and the HSR has a more prominent impact on services than on manufacturing. The conclusion remains valid after a series of robustness tests.
dc.languageEnglish
dc.publisherAsian Development Bank Institute
dc.titleHigh-Speed Railway, Market Access, and Economic Growth
dc.typeWorking Papers
dc.subject.expertTransport
dc.subject.expertTransportation
dc.subject.expertTrade
dc.subject.expertTrade Facilitation
dc.subject.expertTrade Potential
dc.subject.expertTrade Development
dc.subject.expertTrade Agreements
dc.subject.expertRegional Trade Integration
dc.subject.expertRegional Trade
dc.subject.expertFinance And Trade
dc.subject.expertDemand For Transport
dc.subject.expertRoad & Highway Transport
dc.subject.expertRoad Transportation Systems
dc.subject.expertTransport Infrastructure
dc.subject.adbEconomic integration
dc.subject.adbEnergy
dc.subject.adbImport volume
dc.subject.adbExport volume
dc.subject.adbAccess to markets
dc.subject.adbEconomic agreements
dc.subject.adbTrade financing
dc.subject.adbRegional integration
dc.subject.adbVehicle
dc.subject.adbLand transport
dc.subject.adbTransport economics
dc.subject.adbRailways
dc.subject.naturalInfrastructure
dc.subject.naturalRailroads
dc.subject.naturalRoads
dc.subject.naturalTrade routes
dc.subject.naturalMarkets
dc.subject.naturalEconomic goods
dc.subject.naturalEconomic conditions
dc.subject.naturalNew agricultural enterprises
dc.subject.naturalConsumer goods
dc.subject.naturalRoad transportation
dc.subject.naturalTrucking
dc.subject.naturalRailroads
dc.subject.naturalRoads
dc.subject.naturalTrade routes
dc.title.seriesADBI Working Paper Series
dc.title.volumeNo 852
dc.contributor.imprintAsian Development Bank Institute
oar.themeTransport
oar.themeTrade
oar.adminregionEast Asia Region
oar.countryPeople's Republic of China
oar.identifierOAR-008136
oar.authorZou, Wei
oar.authorChen, Liangheng
oar.authorXiong, Junke
oar.importTRUE
oar.googlescholar.linkpresenttrue


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    The Asian Development Bank Institute (ADBI) Working Paper series is a continuation of the formerly named Discussion Paper series which began in January 2003. The numbering of the papers continued without interruption or change. ADBI was established in 1997 in Tokyo, Japan, to help build capacity, skills, and knowledge related to poverty reduction and other areas that support long-term growth and competitiveness in developing economies in Asia and the Pacific.

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