Evaluation of Social and Economic Benefit of Urban Rail Transit Project Based on Spatial Econometric Model

Abstract

The social and economic benefits of urban rail transit projects based on spatial econometric model are evaluated. A spatial econometric model is established to evaluate the social and economic benefits of rail transit projects in different cities in China. From 2007 to 2019, the growth rate of GDP in the eastern, central, and western regions as well as the whole country showed a downward trend. The growth rate was at a relatively high level in 2007 and 2008. It dropped sharply to below 10% in 2009 and again to 10-15% in 2012. The growth rate of eastern and central China and the whole country was basically maintained between 5% and 12%. The development of urban rail transit projects was positively correlated with social and economic benefits. Therefore, it is necessary to take into account all the influencing factors and strengthen the development of urban rail transit projects to promote the growth of social and economic benefits.