Effects of High-Speed Rail on Regional Economic Growth and Employment in China

High-Speed Rail (HSR) has an important impact on the economic growth and employment of cities along the line. Based on the data of 284 prefecture-level cities in China from 2007 to 2015, this paper analyzes the impact of HSR construction on the economy and employment in cities along the line at the national and sub-regional levels using the difference-in-differences model. The research results show that China's high-speed rail construction has failed to promote economic growth in the sample cities taken as a whole, but significantly improved the short-term employment levels in cities along the line. Moreover, there is obvious heterogeneity in the impact of HSR. The economic inhibitory effect of HSR is mainly reflected in the eastern region, while the employment promotion effect is mainly reflected in the central region. Finally, the effect of HSR on economic growth is a result of the change in the investment and degree of openness.