A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Double-edged trains
Economic outcomes and regional disparity of high-speed railways
https://orcid.org/0000-0002-0917-9727
Abstract We illuminate the causal relationship between high-speed railway (HSR) expansions and economic development, focusing on HSR in Japan–the Shinkansen–from 1983 to 2020. To address endogeneity concerns about HSR station construction, we employ a market access approach that captures both the direct and indirect impacts of HSR expansion. The results show that a 1% increase in HSR market access increases the land price by 0.176%, total income (hereafter, income) by 0.425%, and income per capita by 0.023% of Japan. However, most of the benefits are focused in Tokyo and other developed areas, while the economic growth due to HSR expansion of cities outside these areas is negative or statistically insignificant. We confirm the robustness of the results through the instrumental variable (IV) approach and a series of robustness checks. Next, we conduct counterfactual analyses using regression results to evaluate future Japanese HSR plans: the Linear Shinkansen, regional expansion, and a policy that would implement both. Simulation results reconfirm that future HSR plans will induce economic growth but, at the same time, aggravate regional disparity; thus, the expected economic outcomes may be double-edged.
Highlights Whether HSR induces economic development but aggravates regional disparity is empirically investigated. We control for endogeneity issues by using a market access approach, a set of fixed effects and an IV. Economic benefits of HSR were focused in developed areas. Undeveloped areas experience negative/insignificant economic growths due to HSR. The expected economic outcomes of Future HSR schemes are double-edged.
Double-edged trains
Economic outcomes and regional disparity of high-speed railways
https://orcid.org/0000-0002-0917-9727
Abstract We illuminate the causal relationship between high-speed railway (HSR) expansions and economic development, focusing on HSR in Japan–the Shinkansen–from 1983 to 2020. To address endogeneity concerns about HSR station construction, we employ a market access approach that captures both the direct and indirect impacts of HSR expansion. The results show that a 1% increase in HSR market access increases the land price by 0.176%, total income (hereafter, income) by 0.425%, and income per capita by 0.023% of Japan. However, most of the benefits are focused in Tokyo and other developed areas, while the economic growth due to HSR expansion of cities outside these areas is negative or statistically insignificant. We confirm the robustness of the results through the instrumental variable (IV) approach and a series of robustness checks. Next, we conduct counterfactual analyses using regression results to evaluate future Japanese HSR plans: the Linear Shinkansen, regional expansion, and a policy that would implement both. Simulation results reconfirm that future HSR plans will induce economic growth but, at the same time, aggravate regional disparity; thus, the expected economic outcomes may be double-edged.
Highlights Whether HSR induces economic development but aggravates regional disparity is empirically investigated. We control for endogeneity issues by using a market access approach, a set of fixed effects and an IV. Economic benefits of HSR were focused in developed areas. Undeveloped areas experience negative/insignificant economic growths due to HSR. The expected economic outcomes of Future HSR schemes are double-edged.
Double-edged trains
Economic outcomes and regional disparity of high-speed railways
https://orcid.org/0000-0002-0917-9727
Abstract We illuminate the causal relationship between high-speed railway (HSR) expansions and economic development, focusing on HSR in Japan–the Shinkansen–from 1983 to 2020. To address endogeneity concerns about HSR station construction, we employ a market access approach that captures both the direct and indirect impacts of HSR expansion. The results show that a 1% increase in HSR market access increases the land price by 0.176%, total income (hereafter, income) by 0.425%, and income per capita by 0.023% of Japan. However, most of the benefits are focused in Tokyo and other developed areas, while the economic growth due to HSR expansion of cities outside these areas is negative or statistically insignificant. We confirm the robustness of the results through the instrumental variable (IV) approach and a series of robustness checks. Next, we conduct counterfactual analyses using regression results to evaluate future Japanese HSR plans: the Linear Shinkansen, regional expansion, and a policy that would implement both. Simulation results reconfirm that future HSR plans will induce economic growth but, at the same time, aggravate regional disparity; thus, the expected economic outcomes may be double-edged.
Highlights Whether HSR induces economic development but aggravates regional disparity is empirically investigated. We control for endogeneity issues by using a market access approach, a set of fixed effects and an IV. Economic benefits of HSR were focused in developed areas. Undeveloped areas experience negative/insignificant economic growths due to HSR. The expected economic outcomes of Future HSR schemes are double-edged.
Double-edged trains
Economic outcomes and regional disparity of high-speed railways
Yoo, Sunbin (author) / Kumagai, Junya (author) / Kawasaki, Kohei (author) / Hong, Sungwan (author) / Zhang, Bingqi (author) / Shimamura, Takuya (author) / Managi, Shunsuke (author)
Transport Policy ; 133 ; 120-133
2023-01-24
14 pages
Article (Journal)
Electronic Resource
English
R1 , R11 , R12 , L92 , High-speed railway , Shinkansen , Regional disparity , Market access , Agglomeration , Land price
| Elsevier | 2023
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