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The Effects of High Speed Trains on Local Economies: Evidence from the Korea Train Express

Posted: 1 May 2018

See all articles by Kanghyock Koh

Kanghyock Koh

Ulsan National Institute of Science and Technology (UNIST)

Hyunjoo Yang

Sogang University

Date Written: September 11, 2017

Abstract

We empirically test the economic impacts of the introduction of the Korean high speed rail system, the Korea Train Express (KTX), in 2004. For analysis, we use nighttime light data from satellite observations as a proxy for local economic activity and construct a 20-year panel data set at the township level. This novel data set enable us to investigate local economic impacts on a small spatial scale. Using the difference in differences approach, we find that there was a 10% increase in local economic activity in rural townships adjacent to KTX stations 10 years after the launch of the KTX.

Keywords: high speed rail, railway transport, South Korea

JEL Classification: R11, R48, O18

Suggested Citation

Koh, Kanghyock and Yang, Hyunjoo, The Effects of High Speed Trains on Local Economies: Evidence from the Korea Train Express (September 11, 2017). Available at SSRN: https://ssrn.com/abstract=3162633

Kanghyock Koh

Ulsan National Institute of Science and Technology (UNIST) ( email )

gil 50
Ulsan, 689-798
Korea, Republic of (South Korea)

Hyunjoo Yang (Contact Author)

Sogang University ( email )

Seoul
Korea, Republic of (South Korea)

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