Zheng, Zunxin; Qiu, Zhongjie; Ding, Wenjie; Li, Mengjia - 2023
This paper explores the impact of China’s high-speed rail network on reducing local bias and fostering capital market … integration. Our research reveals that the implementation of high-speed rail in a city decreases the return comovement of its … various model specifications. After examining the underlying economic mechanism, we find that the impact of high-speed rail on …