Unraveling the rectifying role of transportation improvement on resource misallocation among manufacturing firms in China–Facts and mechanism

Author:

Zhang ZhaohuaORCID,Zhang Zhao,Wang Xin,Robinson Derrick

Abstract

China’s High-speed railway (HSR) network had experienced rapid expansion during 2009 to 2013, and how the HSR expansion affects China’s economy has been considerable concerned by both policymakers and researchers. Using firm-level data, this study accessed the effects of HSR on productivity distribution and resource misallocation among manufacturing firms. Incorporating difference in difference idea into a multilevel model, the results suggest significant misallocation rectifying effect of HSR at firm level. This effect is stronger for capital-intensive firms. City-specific analysis indicates that the effects of HSR on firm-level resource misallocation varies with city size, and firms grouped in small cities gain more misallocation rectification than those grouped in big and medium cities. Market potential, which is an important way through which the HSR affects efficient allocation of production resources, is found boost the marginal effect of HSR by reducing labor market segmentation and increasing agglomeration.

Funder

MOE (Ministry of Education in China) Humanities and Social Sciences Youth Foundation

Natural Science Foundation of Shandong Province

Seed Fund of CAU

Special Fund for Basic Scientific Research of Central Universities

Publisher

Public Library of Science (PLoS)

Subject

Multidisciplinary

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