A Study of How High-Speed Railway Affects County Industry Development

Abstract

Since the first Chinese high-speed railway was built in 2008, the high-speed railway industry has developed rapidly recently. Based on “China railway yearbook”, The map of China’s railway network, “China statistical yearbook” in county level, and the “China Regional Economic Statistics Year book”, we collect and sort out the various economic and society indexes of the county in China, and we set up the national city at the county level panel data, using Two-way Fixed Effect model to estimate the policy effect on the county which built the high-speed railway station. Based on the research of panel date, we can get several conclusions. Firstly, building a high-speed railway will promote the economic growth of the cities at the county level. Secondly, the opening of high-speed railway has positive and significant policy effect on the three main industries of county-level cities, especially the development of tertiary industry. Finally, the construction of high-speed rail has a strong policy impact on the county-level cities in the four regions of the eastern, western, central and northeastern regions. Among them, the construction of a high-speed railway site will promote the economic growth of the county-level high-speed rail station cities in the central region and the policy effect on the development of the tertiary industry is the strongest.