The Impact of Highway Construction on the Profits of Agricultural Enterprises: Evidence From China
利用中国2010-2016年企业税收数据和高速公路开通的准自然实验，发现高速公路显著提升了农业企业利润，尤其对易腐农产品企业和远离主要市场的企业影响更大，机制是提高运输效率、扩大市场和降低成本。
ABSTRACT This study employs a quasi‐natural experiment using 7 years (2010–2016) of enterprise tax data from China, leveraging staggered highway openings at the county level to construct a difference‐in‐differences (DID) model. The findings reveal that highway access significantly enhances the profitability of agricultural enterprises. Robustness tests confirm these results. Heterogeneity analysis reveals that highway access has a greater impact on firms producing perishable agricultural products (e.g., vegetables, fruits, livestock, and aquaculture) and those located farther from major markets. Mechanism analysis suggests that highway access enhances agricultural enterprise profitability by improving transportation efficiency, expanding market reach, and lowering operational costs. Further analysis reveals that highway access positively influences firm productivity. These findings offer valuable insights for policymakers seeking to enhance sustainable agricultural development globally.