EFFECTS OF HIGH-SPEED RAIL CONSTRUCTION ON THE EVOLUTION OF INDUSTRIAL AGGLOMERATION: EVIDENCE FROM THREE GREAT BAY AREAS IN CHINA


Ekonomie

EFFECTS OF HIGH-SPEED RAIL CONSTRUCTION ON THE EVOLUTION OF INDUSTRIAL AGGLOMERATION: EVIDENCE FROM THREE GREAT BAY AREAS IN CHINA

The economy of China has been maintaining a middle and high growth rates in the past 40 years since reform and opening-up. Railway is an important infrastructure and a major factor of economic development. It is also a witness and beneficiary of reform and opening-up. Railway in China has undergone transformation and development. Given the continuous expansion of traffic network and innovative reform of technologies, high-speed rail construction has achieved outstanding progresses. During the “12th Five-Year Plan,” the total investment of China to high-speed rail system has exceeded 1,800 billion RMB. Moreover, 3,500 billion RMB of investment is expected under railway plan in the “13th Five-Year Plan.” Currently, China owns a high-speed rail network with the longest operation miles, the highest transportation density, and the most complicated network operation scenario in the world (Karolys et al., 2019).
Jméno a příjmení autora:

Lei Fang, Xuewei Zhang, Zihua Feng, Ce Cao

Rok:
2020
Ročník:
23
Číslo:
2
Klíčová slova:
High-speed rail, industrial agglomeration, three Great Bay Area, DID model, quantile treatment effect
DOI (& full text):
Anotace:
High-speed rail is an important transportation infrastructure that can promote regional economic growth and adjust industrial layout. To explore the impact of high-speed rail construction on the…více
High-speed rail is an important transportation infrastructure that can promote regional economic growth and adjust industrial layout. To explore the impact of high-speed rail construction on the industrial spatial layout of China’s Bay Area, the effects of high-speed rail construction on industrial spatial layout of the Circum-Bohai Great Bay Area, the Circum-Yangtze Estuary Great Bay Area, and the Guangdong–Hong Kong–Macao Greater Bay Area in China were analyzed by using DID (difference-in-differences) model and quantile treatment effect based on the panel data obtained from 2005 to 2016. Results demonstrate that high-speed rail construction significantly affects industrial spatial layout of urban areas. Due to high-speed rail construction, manufacturing and real estate industries in the Circum-Bohai Great Bay Area expand greatly and show a significant diffusion effect. This diffusion promotes agglomeration of wholesale and retail, real estate, transportation, warehousing, and post industries in small cities. High-speed rail construction exhibits an agglomeration effect on financial industry in the Circum-Yangtze Estuary Great Bay Area. Highspeed rail construction facilitates clustering of manufacturing, financial, and transportation industries in small cities. The impact of high-speed rail construction on manufacturing, accommodation and catering, financial, transportation, warehousing, and post industries in Guangdong–Hong Kong–Macao Greater Bay Area shows a diffusion effect. In sum, high-speed rail construction causes an evolution of industrial agglomeration in three great bay areas in China. The conclusion provides decision references for optimization of industrial spatial layout in great bay areas.
Sekce:
Ekonomie

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