This study uses data from 2006 to 2016 A-share listed companies located in 147 marginal cities along the high-speed rail line as a sample, and takes the opening of high-speed rail as a “quasi-natural experiment” to examine its impact on enterprise TFP from the perspective of population mobility path. Our results found that whether in east area or mid-west area, the opening of high-speed rail leads to the decline of TFP of enterprises in the marginal cities along the line. In contrast, the east area is more severe and has industry heterogeneou...
