Abstract This paper firstly theoretically analyzes the relationship among the opening of high-speed railway, resource mismatch and industrial overcapacity, and illustrates it through mathematical model with the help of CES production function. Then, using the relevant panel data of 30 provincial regions in China from 2003 to 2017 , this paper conduct an empirical test with the Tobit stochastic effect model. The results are as follows: (1) The opening of high-speed railway can improve the utilization rate of industrial capacity and alleviate industrial overcapacity in China. Moreover, the increase in the utilization rate of industrial capacity in China caused by the opening of high-speed rail shows a trend of decline at first and then an upward trend, that is, showing a U-shaped feature. However, both labor and capital mismatch will exacerbate industrial overcapacity. (2) From a region point of view, the industrial capacity utilization rate will increase by 4.32% for each additional high-speed railway line in the eastern region, and by 6.15% for each additional high-speed railway line in the central and western regions. Based on the speed difference of high-speed railway, the industrial capacity utilization rate will increase by 5.94% for each additional train line at the beginning with “G”, while for each additional train line beginning with “D”, the utilization rate of industrial capacity rate will increase by 5.67% . And there is not much difference between them. (3) The Bootstrap method is used to test the mediating effect. It is found that the opening of high-speed railway can effectively reduce labor and capital mismatch of labor and capital, thus alleviating the degree of industrial overcapacity in China.
2021, Vol. 38 
