Impacts of high-speed rail construction on land prices in urban agglomerations: Evidence from Kyushu in Japan

Chigusa Okamoto and Yasuhiro Sato

Journal of Asian Economics, 2021, vol. 76, issue C

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 land prices in urban agglomerations, which would reflect changes in the distribution of economic activities across urban agglomerations. We 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. However, such positive effects are shown to be limited to areas close to Shinkansen stations.

Keywords: High-speed rail; Land price; Hedonic approach; Agglomerations (search for similar items in EconPapers)
JEL-codes: R11 R12 R42 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1049007821000932
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:asieco:v:76:y:2021:i:c:s1049007821000932

DOI: 10.1016/j.asieco.2021.101364

Access Statistics for this article

Journal of Asian Economics is currently edited by C. Wiemer

More articles in Journal of Asian Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().