Impacts of High-Speed Rail Construction on Urban Agglomerations: Evidence from Kyushu in Japan

50 Pages Posted: 17 Oct 2019

See all articles by Chigusa Okamoto

Chigusa Okamoto

University of Tokyo - Faculty of Economics

Yasuhiro Sato

University of Tokyo

Date Written: October 8, 2019

Abstract

High-speed rail integrates regions and cities, and thus can possibly have significant impacts on the distribution of economic activities. Using the opening and extensions of a high-speed rail, Shinkansen, in Kyushu, Japan, we examine its effects on the distribution of economic activities across urban agglomerations. We focus on changes in land prices and estimate hedonic price equations to conduct a difference-in-differences analysis. We find that the large metropolitan areas gained from the high-speed rail by experiencing increases in land prices, whereas small metropolitan areas located between them lost by experiencing decreased land prices.

Keywords: High-speed rail, Land price, Hedonic approach, Agglomerations

JEL Classification: R11, R12, R42

Suggested Citation

Okamoto, Chigusa and Sato, Yasuhiro, Impacts of High-Speed Rail Construction on Urban Agglomerations: Evidence from Kyushu in Japan (October 8, 2019). Available at SSRN: https://ssrn.com/abstract=3466056 or http://dx.doi.org/10.2139/ssrn.3466056

Chigusa Okamoto (Contact Author)

University of Tokyo - Faculty of Economics ( email )

7-3-1 Hongo, Bunkyo-ku
Tokyo 113-0033
Japan

Yasuhiro Sato

University of Tokyo ( email )

Yayoi 1-1-1
Bunkyo-ku
Tokyo, Tokyo 113-8657
Japan

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