Can the opening of high-speed rail (HSR) stimulate residents' consumption? --An interpretation based on the clustering effect of innovation factors

IF 6.3 2区工程技术 Q1 ECONOMICS

Transport Policy Pub Date : 2025-01-15 DOI:10.1016/j.tranpol.2025.01.015

Qing Zhang, Zeyi Li, Yufeng Pang

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Abstract

The high-speed rail (HSR) unites various cities, potentially expanding the production and consumption scale, and improving the efficiency of supply and demand adaptation while fostering increased consumption in local areas. This study investigates the effect of HSR on residents' consumption using data from 260 prefecture-level Chinese cities spanning 2005 to 2021 and discovers the underlying mechanisms through the perspective of innovation factor agglomeration. The findings revealed that the HSR enhanced the clustering of regional innovation factors, thereby stimulating consumption through mechanisms including job conception and product innovation. Further analysis explored that the agglomeration of capital, talent, and data innovation factors driven by HSR development exerted varying degrees of influence on boosting consumption. Furthermore, based on city type and grade, the effect of the HSR on residents' consumption displayed heterogeneity. The findings of the current study carry significant policy implications, suggesting the requirement for tailored planning of HSR development that considers city types and the unique characteristics of various elements, thereby prompting the potential energy of innovation factor agglomeration.

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来源期刊

Transport Policy Multiple-

CiteScore

12.10

自引率

10.30%

发文量

282

期刊介绍： Transport Policy is an international journal aimed at bridging the gap between theory and practice in transport. Its subject areas reflect the concerns of policymakers in government, industry, voluntary organisations and the public at large, providing independent, original and rigorous analysis to understand how policy decisions have been taken, monitor their effects, and suggest how they may be improved. The journal treats the transport sector comprehensively, and in the context of other sectors including energy, housing, industry and planning. All modes are covered: land, sea and air; road and rail; public and private; motorised and non-motorised; passenger and freight.