| 简介： | Abstract:
Exploiting novel geocoded firm data, this paper examines the impact of China’s special economic zones on economic activity in the targeted areas. The analysis finds that economic zones have a positive effect on capital, employment, and output, and increase the number of firms. Firm births and deaths play a larger role in explaining the zones’ effects than incumbents and relocations. The study also finds evidence of positive effects of SEZs on local productivity and wages. Finally, a zone’s effectiveness depends on the features of the economic zone program. Capital-intensive industries exhibit larger positive zone effects than labor-intensive ones. Location characteristics such as transportation accessibility and market potential are not critical factors in enhancing the program effects. |