{"title":"Does historic preservation affect firms' output? Evidence from the awarding of the Historic City title in China","authors":"Ruiming Liu , Haosheng Yan , Zebang Zhang","doi":"10.1016/j.chieco.2024.102156","DOIUrl":null,"url":null,"abstract":"<div><p>Historic preservation policies have garnered increasing attention and recognition from countries worldwide. However, most studies have focused on local livelihoods and housing, with few examining the effects on firms' production activities. Exploiting the awarding of the <em>Historic City</em> title in China, this paper provides the first empirical evidence of historic preservation's impact on industrial firms' output. Receiving the <em>Historic City</em> title reduces local industrial firms' output by 6.1%. The main mechanisms are restrictions on land use and industrial development. Furthermore, the historic preservation policy has a negative macro effect at the city level. These findings contribute to a more comprehensive understanding of the effects of historic preservation policies.</p></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":null,"pages":null},"PeriodicalIF":5.2000,"publicationDate":"2024-03-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"中国经济评论","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1043951X24000452","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
Historic preservation policies have garnered increasing attention and recognition from countries worldwide. However, most studies have focused on local livelihoods and housing, with few examining the effects on firms' production activities. Exploiting the awarding of the Historic City title in China, this paper provides the first empirical evidence of historic preservation's impact on industrial firms' output. Receiving the Historic City title reduces local industrial firms' output by 6.1%. The main mechanisms are restrictions on land use and industrial development. Furthermore, the historic preservation policy has a negative macro effect at the city level. These findings contribute to a more comprehensive understanding of the effects of historic preservation policies.
期刊介绍：
The China Economic Review publishes original works of scholarship which add to the knowledge of the economy of China and to economies as a discipline. We seek, in particular, papers dealing with policy, performance and institutional change. Empirical papers normally use a formal model, a data set, and standard statistical techniques. Submissions are subjected to double-blind peer review.
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