Does High-Speed Rail Promote Residents’ Subjective Well-Being? Evidence From China

Although the impact of high-speed railway (HSR) on economic development has received extensive attention, few studies explore how HSR influences individuals’ daily life. Using the pooled cross-section data from China Labor-force Dynamic Survey (CLDS), we examine the relationship between HSR services and subjective well-being (SWB). The baseline result indicates that HSR project bring a significant and positive improvement on individuals’ SWB in the cities it serves. Evidence from a variety of identification strategies suggests that the relationship is robust. Mechanism analysis shows that HSR services increase residents’ SWB by improving household income, inducing tourism, and promoting health status. Moreover, our evidence finds urban residents, young residents, and high-income residents benefit more from HSR services. Our study reveals the potential value of HSR services from the perspective of SWB, which is growingly concerned in the policymakers concerning route planning and cost-benefit analysis of HSR projects. JEL Classification: I15, I31, R21, R40, R42, Z32