| In recent years,China's transportation infrastructure has been vigorously developed and improved.High-speed rail construction has also achieved great success.Today,high-speed rail has become an important way for residents to travel.The opening of the high-speed rail has greatly improved traffic conditions and shortened the time and space between urban networks.According to the new economic geography theory,the improvement of transportation infrastructure will reduce transportation costs,promote the rapid flow of production factors between regions and change the regional economic development and layout.With the “four vertical and four horizontal” planning of China's high-speed railway has been basically completed,the “eight vertical and eight horizontal” planning is under construction,and it can be predicted that further improvement of the transportation infrastructure in the future will have an important impact on the development of China's urban economy.This paper attempts to study the impact of the opening of high-speed rail on urban housing prices from the perspective of transportation infrastructure.The research idea of this paper is to sort out the existing literature and summarize the development status of high-speed rail construction and real estate market.Then,based on the existing literature theory,try to explain the mechanism of the impact of high-speed rail opening on urban housing prices.The empirical analysis tests whether the high-speed rail opening has an impact on urban housing prices,and fully considers the impact of urban heterogeneity.Finally,the reliability of the conclusions is further verified through mechanism testing and robustness testing,and policy recommendations are made based on the conclusions reached.Based on the data of 286 cities nationwide from 2003 to 2017,this paper uses the Difference In Difference method of continuous time to conduct empirical analysis.The main conclusions are as follows:(1)On the whole,the opening of high-speed rail has driven the price increase of cities along the line and the average net impact is between 4.7% and 7.5%.(2)From the eastern,central and western regions,the impact of high-speed rail opening on cities in different regions has a significant positive impact on urban housing prices in the eastern and central regions.However,the impact on urban housing prices in the western region is not significant;(3)From the perspective of urban administrative status,the opening of high-speed rail has only a significant positive impact on non-central city housing prices,and the average effect is 6.7%,while the impact on central city housing prices no significant;(4)From the perspective of urban population size,the opening of high-speed rail has a significant impact on medium-sized cities and large cities with an average impact of 10.5% and 6.4%,respectively.The policy inspirations that can be obtained through conclusions mainly have two aspects: on the one hand,the research conclusions of this paper confirm that the impact of transportation infrastructure construction on different regional cities is different and the development between cities is not balanced,the government should further support the infrastructure construction in backward areas.Promote the coordinated development of large,medium and small cities.On the other hand,the conclusions of this paper are also instructive for the formulation of the real estate market regulation policy.The impact of the real estate market in different cities on the opening of the high-speed rail market is different,reflecting that the real estate market in different cities is quite different,if the policy of equal treatment is adopted It may not achieve the desired regulatory effect.Therefore,it is necessary to adopt the regulation ideas of urban policy and classification guidance,and formulate differentiated control policies for different cities,which further supports the scientific and rationality of the current real estate macro-control policies. |
PDF Full Text Request