High-speed rail and urban energy efficiency: Evidence from China

IF 4.8 2区 经济学 Q1 BUSINESS, FINANCE International Review of Economics & Finance Pub Date : 2024-11-29 DOI:10.1016/j.iref.2024.103761
Shuangyan Li, Dan Wang, Xiao Tan
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Abstract

It is essential to explore the effect of high-speed rail on energy efficiency to develop medium and long-term green development plans and realize the “dual-carbon target” in China. We utilize urban nighttime light brightness data to measure the energy efficiency of 281 cities in China from 2006 to 2021. We investigate the relationship between the high-speed rail opening and the energy efficiency of cities using the difference-in-differences model. Further, we examine the temporal dynamics of urban energy efficiency improvement by the opening of high-speed rail. We find that the high-speed rail opening significantly improves urban energy efficiency, in which the long-term effect is more influential than the short-term. In addition, we explore the heterogeneity of geographic location, city level, and city size. The results suggest that the high-speed rail opening has a more significant effect on energy efficiency in the eastern region, first-tier cities, and large cities, providing evidence of the “siphon effect” of HSR. Four robustness tests confirm the reliability of the research: replacing core explanatory variables, PSM-DID, counterfactual test, and instrumental variable method.
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高铁与城市能源效率:来自中国的证据
探索高铁对能源效率的影响,是中国制定中长期绿色发展规划、实现“双碳目标”的必要条件。我们利用城市夜间灯光亮度数据来测量2006年至2021年中国281个城市的能源效率。本文利用差中差模型研究了高铁开通与城市能源效率之间的关系。此外,我们还研究了高铁开通对城市能源效率提高的时间动态影响。研究发现,高铁开通显著提高了城市能源效率,且长期影响大于短期影响。此外,我们还探讨了地理位置、城市水平和城市规模的异质性。研究结果表明,高铁开通对东部地区、一线城市和大城市的能效影响更为显著,为高铁的“虹吸效应”提供了证据。替换核心解释变量、PSM-DID、反事实检验和工具变量法四项稳健性检验证实了研究的可靠性。
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CiteScore
7.30
自引率
2.20%
发文量
253
期刊介绍: The International Review of Economics & Finance (IREF) is a scholarly journal devoted to the publication of high quality theoretical and empirical articles in all areas of international economics, macroeconomics and financial economics. Contributions that facilitate the communications between the real and the financial sectors of the economy are of particular interest.
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