scholarly journals The Impact of High-Speed Rail on Housing Prices: Evidence from China’s Prefecture-Level Cities

2019 ◽  
Vol 11 (13) ◽  
pp. 3681
Author(s):  
Rong Wang ◽  
Li Ye ◽  
Liwen Chen
Keyword(s):  
High Speed ◽  
Rapid Development ◽  
Housing Prices ◽  
Housing Price ◽  
Significance Test ◽  
Chinese Government ◽  
High Speed Rail ◽  
Local Conditions ◽  
Rail Line ◽  
The Impact

The rapid development of the high-speed rail (HSR) network enhanced the regional accessibility between cities, drove the rise in cities’ investment levels, and expanded the activity radius of the labor force, causing changes in housing prices along the rail lines. Based on panel data of 285 cities in China from 2008–2016, this study used the difference-in-difference based on propensity score matching (PSM-DID) method to calculate the impact of HSR on housing prices. The conclusions of the study indicated that, at the regional level, HSR significantly promoted the rise in housing prices in HSR cities along the rail line. HSR had a positive effect on housing prices, where the coefficient of HSR influence was 0.1511 and passed a 1% significance test. From the perspective of the combination of sub-regional and sub-city scales, HSR mainly played a significant role in promoting housing prices in “small and medium-sized cities” and “central and western cities”, especially in small and medium-sized cities in the central and western regions; in general, HSR can narrow the housing price gap between “small and medium-sized HSR cities” in the central and western regions and large HSR cities in the east region. Lastly, the results of the intermediary mechanism test showed that the income level of residents and employment levels played an intermediary role in the influence of HSR on the housing prices of cities along the rail line. Thus, this paper suggests that the Chinese government needs to formulate housing price control policies that suit local conditions according to the characteristics of different cities.

The Impact of High-Speed Rail on the Spatial Structure of Chinese Urban Agglomerations

2020 ◽  
Vol 46 (3) ◽  
pp. 379-397
Author(s):  
Chunyang Wang
Keyword(s):  
High Speed ◽  
River Delta ◽  
City Size ◽  
High Speed Rail ◽  
Local Conditions ◽  
Urban Agglomerations ◽  
Large Cities ◽  
Spatial Systems ◽  
Economic Concentration ◽  
The Impact

This paper measures the spatial evolution of urban agglomerations to understand be er the impact of high-speed rail (HSR) construction, based on panel data from fi ve major urban agglomerations in China for the period 2004–2015. It is found that there are signi ficant regional diff erences of HSR impacts. The construction of HSR has promoted population and economic diff usion in two advanced urban agglomerations, namely the Yang e River Delta and Pearl River Delta, while promoting population and economic concentration in two relatively less advanced urban agglomerations, e.g. the middle reaches of the Yang e River and Chengdu–Chongqing. In terms of city size, HSR promotes the economic proliferation of large cities and the economic concentration of small and medium-sized cities along its routes. HSR networking has provided a new impetus for restructuring urban spatial systems. Every region should optimize the industrial division with strategic functions of urban agglomeration according to local conditions and accelerate the construction of inter-city intra-regional transport network to maximize the eff ects of high-speed rail across a large regional territory.

scholarly journals High-speed Urbanization and Housing Bubbles

CONVERTER ◽  
2021 ◽  
pp. 398-407
Author(s):  
Yao Pang, Yancheng Fan, Meng Ye
Keyword(s):  
High Speed ◽  
Housing Prices ◽  
Housing Price ◽  
Expected Returns ◽  
Economic Stability ◽  
Short Term ◽  
Housing Investment ◽  
Price Growth ◽  
Housing Bubbles ◽  
The Impact

With China's high-speed urbanization, the housing demands and housing prices have increased rapidly in major cities. By combining the classical bubble theory with investors’ short-term decisions, we propose a method to simulate bubbles' rising and bursting process in a multi-sector economy. We find that when urbanization goes too fast, the housing price growth rate will exceed the industrial interest rate, causing enterprises to buy houses. Enterprises’ housing investment further increases the expected returns of housing investment, attracting more investment and leads to housing bubbles. The faster the speed of urbanization, the higher the housing price grows, the longer the bubble cycle, and the greater the impact on the economy when bubbles burst. Continued urbanization cannot prevent bubbles from bursting. To ensure economic stability, the pace of urbanization needs to be limited.

scholarly journals Temporal and Spatial Effects of Urban Center on Housing Price — A Case Study on Hangzhou, China

2018 ◽  
Vol 5 (1) ◽  
pp. 89 ◽  
Author(s):  
Luhong Chu ◽  
Haizhen Wen
Keyword(s):  
Rapid Development ◽  
Housing Prices ◽  
Housing Price ◽  
Urban Land ◽  
Urban Housing ◽  
Spatial Effects ◽  
Hedonic Price ◽  
Urban Center ◽  
Center City ◽  
The Impact

<em>With the acceleration of urbanization and the rapid development of real estate, people pay more and more attention to the change of urban housing prices. Over time, the change of city center will inevitably affect the urban land or housing prices, which is reflected in the spatial distribution of urban land or housing prices. Therefore, this article attempts to explore the impact of urban center on housing prices from the perspective of multi-center city and study separately from two aspects of time and space. This paper takes the six main urban districts of Hangzhou as the research scope. At the time level, we select the residential data from 2007 to 2015 to construct models respectively based on the hedonic price theory and find that the influence of different urban center on housing price shows a certain change with time. On the spatial level, this paper choses the residential data in 2012 to construct geographic weighted regression model and the result shows that the impact of three centers on housing prices shows a certain degree of spatial heterogeneity.</em>

scholarly journals Is the High-Speed Rail Opening Environmentally Friendly? Taking the Difference-in-Differences Test in Jiangsu, China

Complexity ◽  
2020 ◽  
Vol 2020 ◽  
pp. 1-11
Author(s):  
Shijin Wang ◽  
Huiying Zhou ◽  
Guihong Hua
Keyword(s):  
Air Pollution ◽  
High Speed ◽  
Rapid Development ◽  
Central City ◽  
Control Variable ◽  
Difference In Differences ◽  
High Speed Rail ◽  
The Difference ◽  
The Impact ◽  
The Relationship

In view of rapid development of high-speed rail, the relationship between high-speed rail and air pollution needs to be tested and determined. Most research studies focused on the impact of high-speed rail on environmental pollution and just viewed high-speed rail as a control variable, which lacked a direct study on this relationship. Also, these rarely involved regional research, which is short of pertinence and insufficient understanding of regional issues. Therefore, based on the difference-in-differences (DID) model which is a natural experiment evaluation method, this study examined the impact of high-speed rail opening on air pollution by using the panel data of Jiangsu province, China, from the year of 2000 to 2017. The empirical results showed that the opening of Jiangsu high-speed rail, which increases cities’ good day significantly by 21.5%, has inhibitory effect on air pollution. Among control variables, there is no inverted “U” relationship between the economic development level and air pollution. Personal income and urbanization significantly improve air pollution, whereas foreign direct investment exacerbates it. And the results are still valid after robustness tests, including trend test and counterfactual test. Moreover, this study explores the relationship between the degree of reducing pollution caused by high-speed rail and the location of cities, which found that the opening of high-speed rail can greatly improve air pollution of areas in central city circle. Finally, it is found that when high-speed rail and other possible pollution items coexist, the improved effect of high-speed rail on air pollution is still obvious. Therefore, in order to exert the mitigating effect of high-speed rail on air pollution, it is necessary to rationally plan high-speed railway lines and develop the high-speed railways in cities closer to Shanghai.

scholarly journals A Fuzzy Optimization Model for High-Speed Railway Timetable Rescheduling

2012 ◽  
Vol 2012 ◽  
pp. 1-22 ◽  
Author(s):  
Li Wang ◽  
Yong Qin ◽  
Jie Xu ◽  
Limin Jia
Keyword(s):  
Optimization Model ◽  
High Speed ◽  
Fuzzy Optimization ◽  
Soft Constraints ◽  
Accurate Approximation ◽  
Total Delay ◽  
High Speed Rail ◽  
High Speed Railway ◽  
Tolerance Approach ◽  
Rail Line

A fuzzy optimization model based on improved symmetric tolerance approach is introduced, which allows for rescheduling high-speed railway timetable under unexpected interferences. The model nests different parameters of the soft constraints with uncertainty margin to describe their importance to the optimization purpose and treats the objective in the same manner. Thus a new optimal instrument is expected to achieve a new timetable subject to little slack of constraints. The section between Nanjing and Shanghai, which is the busiest, of Beijing-Shanghai high-speed rail line in China is used as the simulated measurement. The fuzzy optimization model provides an accurate approximation on train running time and headway time, and hence the results suggest that the number of seriously impacted trains and total delay time can be reduced significantly subject to little cost and risk.

scholarly journals Does the Construction and Operation of High-Speed Rail Improve Urban Land Use Efficiency? Evidence from China

Land ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 303
Author(s):  
Xinhai Lu ◽  
Yifeng Tang ◽  
Shangan Ke
Keyword(s):  
Economic Growth ◽  
Land Use ◽  
High Speed ◽  
Urban Land ◽  
Urban Land Use ◽  
Western China ◽  
High Speed Rail ◽  
Land Use Efficiency ◽  
Use Efficiency ◽  
The Impact

The construction and operation of high-speed rail (HSR) has become an important policy for China to achieve efficiency and fairness and promote high-quality economic growth. HSR promotes the flow of production factors such as labor and capital and affects economic growth, and may further affect urban land use efficiency (ULUE). To explore the impact of HSR on ULUE, this paper uses panel data of 284 cities in China from 2005 to 2018, and constructs Propensity Score Matching-Differences in Differences model to evaluate the effect of HSR on ULUE. The result of entire China demonstrates that the HSR could significantly improves the ULUE. Meanwhile, this paper also considers the heterogeneity of results caused by geographic location, urban levels and scales. It demonstrates that the HSR has a significantly positive effect on ULUE of Eastern, Central China, and large-sized cities. However, in Western China, in medium-sized, and small-sized cities, the impact of HSR on ULUE is not significant. This paper concludes that construction and operation of HSR should be linked to urban development planning and land use planning. Meanwhile, the cities with different geographical locations and scales should take advantage of HSR to improve ULUE and promote urban coordinated development.

scholarly journals A Mixed Integer Linear Programming Method for Simultaneous Multi-Periodic Train Timetabling and Routing on a High-Speed Rail Network

2020 ◽  
Vol 12 (3) ◽  
pp. 1131
Author(s):  
Wenliang Zhou ◽  
Xiaorong You ◽  
Wenzhuang Fan
Keyword(s):  
Linear Programming ◽  
Integer Linear Programming ◽  
Mixed Integer Linear Programming ◽  
High Speed ◽  
Programming Model ◽  
Mixed Integer ◽  
High Speed Rail ◽  
Train Timetabling ◽  
Train Timetable ◽  
The Impact

To avoid conflicts among trains at stations and provide passengers with a periodic train timetable to improve service level, this paper mainly focuses on the problem of multi-periodic train timetabling and routing by optimizing the routes of trains at stations and their entering time and leaving time on each chosen arrival–departure track at each visited station. Based on the constructed directed graph, including unidirectional and bidirectional tracks at stations and in sections, a mixed integer linear programming model with the goal of minimizing the total travel time of trains is formulated. Then, a strategy is introduced to reduce the number of constraints for improving the solved efficiency of the model. Finally, the performance, stability and practicability of the proposed method, as well as the impact of some main factors on the model are analyzed by numerous instances on both a constructed railway network and Guang-Zhu inter-city railway; they are solved using the commercial solver WebSphere ILOG CPLEX (International Business Machines Corporation, New York, NY, USA). Experimental results show that integrating multi-periodic train timetabling and routing can be conducive to improving the quality of a train timetable. Hence, good economic and social benefits for high-speed rail can be achieved, thus, further contributing to the sustained development of both high-speed railway systems and society.

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