Study On The Impact Of High-Speed Railway On The Productivity Of High-tech Industries

With the official opening of the Beijing-Tianjin Intercity Railway in 2008,China’s high-speed railway network construction enters a new stage.As of the end of 2019,China’s high-speed railway operating mileage exceeded 35,000 kilometers,ranking first in the world.With the opening of the high-speed railway,not only has the railway network capacity been improved,but inter-regional travel costs have been reduced,and the efficiency of the movement of people and capital has been promoted.At the same time,China’s economy is developing to a high-quality stage.As the leading industry of the national economy,building high-quality manufacturing is the necessary support for China’s high-quality economic development.China’s manufacturing industry is facing two problems in the international community,such as rising costs,declining demographic dividends,and shifting manufacturing industries to neighboring countries,and lack of core technologies and independent brands in high-tech manufacturing industries.Therefore,it is necessary for China’s manufacturing industry to shift from cost advantage to efficiency advantage,and continuously improve its competitiveness.The opening of the high-speed railway provides high-tech manufacturing with the advantages of talent flow in terms of talents,technology,and capital.Whether the productivity of high-tech manufacturing enterprises has been improved because of the opening of the high-speed railway has important guiding significance for China’s future high-speed railway location selection.This paper analyzes the theoretical basis and impact mechanism of high-speed railways on the productivity improvement of high-tech manufacturing enterprises through literature review.It analyzes the impact mechanism from regional transportation systems and industrial structures,and puts forward research hypotheses.Next,this paper uses the 2006-2012 industrial enterprise database combined with the three-digit industry code of the National Economic Industry Classification to screen panel data of high-tech manufacturing enterprises belonging to 144 prefecture-level cities in 15 provinces,and select the total industrial output value and fixed assets.And other data,using enterprise labor productivity as the explanatory variable,enterprise size,enterprise age,and enterprise capital intensity as explanatory variables,and adding industry variables and province variables as control variables,using a dual difference model to empirically analyze the high-speed railway opening for high-tech The impact of the productivity of manufacturing enterprises,the results show that the opening of high-speed railways will promote the productivity of high-tech manufacturing enterprises.Afterwards,the enterprises were divided into four industries including transportation equipment manufacturing industry,eastern and non-eastern regions,and state-owned enterprises and non-state-owned enterprises for regression analysis.The results showed that the opening of the high-speed railway significantly improved the labor productivity of transportation equipment manufacturing.The promotion effect of high-speed railway on the labor productivity of high-tech manufacturing enterprises in non-eastern regions is higher than that of eastern regions,and the opening of high-speed railway on the labor productivity of state-owned high-tech manufacturing enterprises is higher than that of non-state high-tech manufacturing enterprises.Subsequently,after deleting the provincial capital data and performing robustness regression,the results show that the high-speed railway opening has a positive effect on the productivity of high-tech manufacturing enterprises.On this basis,this paper uses parallel trend test to test the data from the two years before the opening of the high-speed rail to the two years after the opening of the high-speed rail.Finally,based on the current status of China’s high-speed railway construction,it proposes construction for China’s high-speed railway network construction,balanced regional development,and how state-owned enterprises can break through the problem of entrusted agency.This provides some ideas for high-tech manufacturing enterprises to further use high-speed railway network construction and promote China’s railway network and the high-tech manufacturing industry are developing together.