Place-Based Policies, Creation, and Agglomeration Economies: Evidence from China’s Economic Zone Program

Place-Based Policies, Creation, and Agglomeration Economies: Evidence from China’s Economic Zone Program

Combining rich firm and administrative data, this paper examines the incidence and effectiveness of a prominent place-based policy in China: special economic zones. Establishing zones is found to have had a positive effect on capital investment, employment, output, productivity, and wages, and to ha...

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Veröffentlicht in:American economic journal. Economic policy 2019-08, Vol.11 (3), p.325-360
Hauptverfasser: Lu, Yi, Wang, Jin, Zhu, Lianming
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container_title American economic journal. Economic policy
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creator Lu, Yi
Wang, Jin
Zhu, Lianming
description Combining rich firm and administrative data, this paper examines the incidence and effectiveness of a prominent place-based policy in China: special economic zones. Establishing zones is found to have had a positive effect on capital investment, employment, output, productivity, and wages, and to have increased the number of firms in the designated areas. Net entry plays a larger role in generating those effects than incumbents. The special zone program’s net benefits over three years are estimated to amount to about US$15.62 billion. Capital-intensive industries benefit more than labor-intensive ones from the zone programs.
doi_str_mv 10.1257/pol.20160272
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title Place-Based Policies, Creation, and Agglomeration Economies: Evidence from China’s Economic Zone Program
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