Study On The Impact Of The High-speed Rail On Local Fiscal Revenue In Small And Medium-sized Cities In China

Transportation is the basic condition of economic growth,and high-speed rail is an important field and direction of transportation modernization.By improving the accessibility of cities along the line,the high-speed railway can promote the efficient flow and optimal allocation of production factors and consumption factors,thus driving industrial development and economic growth and creating huge economic and social benefits.Compared with other countries,the high-speed rail technology of China is mature and perfect,and has a wide range of adaptation.While meeting the domestic diversified and high-quality transportation needs,it has also received extensive attention and high evaluation from foreign markets and has become an important force to promote the development of global railways.However,the driving effect of high-speed rail on small and medium-sized cities has been controversial.On the one hand,high-speed rail can help small and medium-sized cities solve the problem of external traffic.On the other hand,high-speed rail may accelerate the loss of factors and enterprises in small and medium-sized cities,and ultimately accelerate their marginalization.The construction of high-speed rail involves a lot of manpower,material and financial resources.In this case,it is particularly important to identify and correctly play the role of high-speed rail in small and medium-sized cities.Local fiscal revenue is the main source of funds for local governments to develop economy and provide public goods and services.However,due to factors such as slowing economic growth,tax reduction and fee reduction,the current fiscal revenue situation in China is relatively severe,and the problems of weak fiscal revenue growth and intensified contradiction between income and expenditure in small and medium-sized cities are particularly prominent.Therefore,this paper studies the impact of the opening of high-speed rail on the fiscal revenue of small and medium-sized cities from the perspective of fiscal revenue of small and mediumsized cities.Based on empirical research,this paper studies the impact of high-speed rail opening on fiscal revenue of small and medium-sized cities by combining theoretical analysis with empirical research.The first chapter of this paper mainly introduces the research background and significance of the article,defines the concepts of high-speed rail,small and medium-sized cities and local fiscal revenue,and summarizes the research content,research methods and possible innovations of this paper.The second chapter combs the relevant literature at home and abroad from the two aspects of high-speed rail effect and fiscal revenue influencing factors,and summarizes the research topics.The third chapter analyzes the factual characteristics from the development process,current situation and fiscal revenue situation and problems of highspeed rail.The fourth chapter first introduces the model,data and variable indicators used,and then uses the multi-period DID model to accurately test the effect of high-speed rail on the fiscal revenue of small and medium-sized cities on the basis of using propensity score matching(PSM)to eliminate sample selection bias.The fifth chapter analyzes the mechanism of highspeed rail affecting the fiscal revenue of small and medium-sized cities from the perspectives of promotion effect and inhibition effect of high-speed rail,and puts forward the research hypothesis of this paper.The sixth chapter draws the conclusion of this paper based on the empirical results and puts forward policy recommendations,and looks forward to the followup research combined with the limitations of this paper.According to the empirical results,it is concluded that the net effect of the opening of highspeed rail on the fiscal revenue of small and medium-sized cities along the route is significantly positive,that is,high-speed rail promotes the growth of fiscal revenue of small and mediumsized cities along the route.Moreover,the promotion effect of high-speed rail on fiscal revenue is more obvious for central and western cities,small cities and cities in non-urban agglomerations.This shows that high-speed rail can effectively affect the fiscal revenue of small and medium-sized cities,but the effects on different regions and different scales are not the same.Therefore,small and medium-sized cities should fully consider the actual development,adhere to scientific planning,and blindly build high-speed rail may also become an obstacle to fiscal revenue growth.The innovation of this paper is mainly to explore the economic effect of high-speed rail from the perspective of local fiscal revenue.At the same time,the data of small and mediumsized cities are used for research,and the research perspective is innovated.In addition,the use of propensity score matching method in the research method is helpful to solve the sample selection bias and increase the reliability of the research results.