High-speed rail(HSR)has been an important driver of China s economic expansion over the last decade.Using data of 285 prefecture-level cities over 2010-2014,this paper proposes an endogenous economic growth model to e...High-speed rail(HSR)has been an important driver of China s economic expansion over the last decade.Using data of 285 prefecture-level cities over 2010-2014,this paper proposes an endogenous economic growth model to explain how and why HSR may have propelled China s economic growth by reducing the time-space between cities.The research results show that HSR has a potent effect on urban economic growth and regional convergence.Ceteris paribus,HSR appears to have accelerated economic growth by more than 0.6 percent and the pace of regional economic convergence by approximately 2 percent per annum over the data period.Our research findings have important policy implications for the sustainability of China s economic development,backed by HSR.展开更多
This paper studies the effect of high-speed rail(HSR)on urban economic growth using a panel data comprising 285 Chinese cities in 2007-2017.Combining the endogenous growth model with a difference-in-difference analysi...This paper studies the effect of high-speed rail(HSR)on urban economic growth using a panel data comprising 285 Chinese cities in 2007-2017.Combining the endogenous growth model with a difference-in-difference analysis,we extend the horse-mass theory to explain how China may use HSR to avoid the so-called middle-income trap.The paper also examines the efficient boundaries of HSR and simultaneously studies HSR timespace compression as well as the city neighboring ejfects on economic growth.It is found that HSRs efficient boundaries are within the range of 200-1,200 km for provincial capitals and 50-300 km for prefecture-level cities.HSR stimulates economic growth by approximately 0.6 percent,and the neighboring effect accounts for one-quarter of economic growth.Three policy implications are drawn:(i)China needs tofurther reduce the travel times between the inland provincial cities and Beijing,Shanghai or Guangzhou;(ii)China should build a denser HSR network to maximize its economic impact on the vast majority of cities;(Hi)China needs to develop some powerful economic growth centers in the inland areas to lead the development of their neighboring cities.展开更多
Compared to inward foreign direct investment, outward foreign direct investment （OFD1） from China is a relatively new phenomenon. However, the volume of China＇s OFDI increased rapidly from 2004. There has been an ...Compared to inward foreign direct investment, outward foreign direct investment （OFD1） from China is a relatively new phenomenon. However, the volume of China＇s OFDI increased rapidly from 2004. There has been an increasing amount of literature on the motivations of China＇s OFD1, but few studies have focused on its location determinants. The present paper aims to fill this gap in the literature by focusing on two important location.factors, natural resources and technology, which are the most important determinants of China＇s OFDI. We use a large panel dataset comprising 132 countries over the period 1991-2009 and the Tobit as well as the Heckman models to establish the relationship between the two location factors and China＇s OFD1. The empirical results suggest that although China ＂s OFD! has been driven by the country＇s desire for a secure supply of natural resources and to attain advanced technology from the developed world, China＇s technology is also a critical attraction for the host developing economies.展开更多
基金the National Social Science Foundation of China(No.l8ZDA005)the National Natural Science Foundation of China(No.71673033)the Ministry of Education Social Science Foundation of China(No.16YJA790058).
文摘High-speed rail(HSR)has been an important driver of China s economic expansion over the last decade.Using data of 285 prefecture-level cities over 2010-2014,this paper proposes an endogenous economic growth model to explain how and why HSR may have propelled China s economic growth by reducing the time-space between cities.The research results show that HSR has a potent effect on urban economic growth and regional convergence.Ceteris paribus,HSR appears to have accelerated economic growth by more than 0.6 percent and the pace of regional economic convergence by approximately 2 percent per annum over the data period.Our research findings have important policy implications for the sustainability of China s economic development,backed by HSR.
基金This research was fnancially supported by the National Social Science Foundation of China(No.18ZDA005)the National Natural Science Foundation of China(Nos.71673033 and 71573077).
文摘This paper studies the effect of high-speed rail(HSR)on urban economic growth using a panel data comprising 285 Chinese cities in 2007-2017.Combining the endogenous growth model with a difference-in-difference analysis,we extend the horse-mass theory to explain how China may use HSR to avoid the so-called middle-income trap.The paper also examines the efficient boundaries of HSR and simultaneously studies HSR timespace compression as well as the city neighboring ejfects on economic growth.It is found that HSRs efficient boundaries are within the range of 200-1,200 km for provincial capitals and 50-300 km for prefecture-level cities.HSR stimulates economic growth by approximately 0.6 percent,and the neighboring effect accounts for one-quarter of economic growth.Three policy implications are drawn:(i)China needs tofurther reduce the travel times between the inland provincial cities and Beijing,Shanghai or Guangzhou;(ii)China should build a denser HSR network to maximize its economic impact on the vast majority of cities;(Hi)China needs to develop some powerful economic growth centers in the inland areas to lead the development of their neighboring cities.
基金This research is financially supported by the National Science Foundation of China （No. 71673033）, and the Chinese Ministry of Education （Nos. 16YJA790058 and 2017CDJSK）.
文摘Compared to inward foreign direct investment, outward foreign direct investment （OFD1） from China is a relatively new phenomenon. However, the volume of China＇s OFDI increased rapidly from 2004. There has been an increasing amount of literature on the motivations of China＇s OFD1, but few studies have focused on its location determinants. The present paper aims to fill this gap in the literature by focusing on two important location.factors, natural resources and technology, which are the most important determinants of China＇s OFDI. We use a large panel dataset comprising 132 countries over the period 1991-2009 and the Tobit as well as the Heckman models to establish the relationship between the two location factors and China＇s OFD1. The empirical results suggest that although China ＂s OFD! has been driven by the country＇s desire for a secure supply of natural resources and to attain advanced technology from the developed world, China＇s technology is also a critical attraction for the host developing economies.
