Place‐based policies, firm productivity, and displacement effects: Evidence from Shenzhen, China
研究深圳科学园区政策对企业生产率的影响，发现政策使企业生产率提高约15-25%，同时推高当地工资并因岗位位移导致扭曲。
Abstract Developing and transitional countries devote considerable funds to selected areas to stimulate local growth and firm productivity. We examine the impact of place‐based interventions due to the opening of science parks in Shenzhen, China, on firm productivity and factor use. Our identification strategy, exploiting spatial and temporal differencing in firm‐level data, addresses the issues that (a) the selection of science park locations is not random and (b) high‐productivity firms sort themselves into science parks. Firm productivity is approximately 15–25% higher due to the science park policy. The policy also increases local wages and leads to distortions due to job displacement.