【主讲】Siqi Zheng (Tsinghua University)
【主题】Identifying Within-City Agglomeration Spillovers: Evidence from the Opening of 116 Industrial Parks in Major Chinese Cities
【时间】2015年1月20日 (周二) 13：30-15：00
【地点】上海财经大学经济学院楼801室
【语言】英文
【摘要】The Chinese local governments have spent billions of dollars investing in the construction of industrial parks. The intended goal of such place based policies is to stimulate local economic growth and to diversify the greater metropolitan area’s activity away from the Central Business District. In this paper, we have used detailed geocoded data on the location, scale and composition of industries of 116 new industrial parks scattered across eight major Chinese cities to investigate how these major investments have affected incumbent plant productivity, local housing markets, and nascent consumer retail hubs located close to the industrial parks. We find that, on average, the parks have achieved their intended consequences. They generate a productivity premium, and a higher employment density both within the parks and in the nearby areas. The parks also attract new residential construction and raise home prices. Finally they trigger gentrification of the local retail and consumer shopping opportunities nearby. But not all parks are so successful. We find quite large heterogeneity in the impact of parks as a function of their SOE share, human capital, co-agglomeration indices and with respect to their energy intensity.
