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Many U.S.cities are making substantial investments in rail transit and promoting transit-oriented development in hopes of making neighborhoods transit accessible and economically vibrant.Previous empirical studies on the effects of transportation infrastructure on economic growth were mostly carried out at the macro level(e.g.country,state levels)where cross-sectional observations of aggregate output are regressed against private capital,labor and stock of transportation infrastructure.It is ever more critical to better understand the economic outcomes of transit improvements by addressing the highly localized nature of the impact.