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High-Speed Rail: Necessary but not sufficient for socioeconomic development
Since its inception in Japan in 1964, high-speed rail (HSR), and its impact on the economy, has received attention from policymakers worldwide. Early HSR development was more of a race to go faster, and the early success led policymakers around the world to believe in the power of HSR for catalyzing growth.
Spillover and straw effects of high-speed rail
On a typical ride on the Tokaido Shinkansen traveling from Shin-Osaka to Tokyo, it does not take a childlike imagination to notice the view from the bullet train of scattered cars, small houses, and baseball fields, gradually changing as the train approaches its destination to packed apartment buildings and tall office towers. This is an important phenomenon of high-speed rail (HSR) implementation, which can be described by the terms “spillover effect” and “straw effect.”
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