Land price regulation and firms' global value chain position: Evidence from China

IF 5.2 1区 经济学 Q1 ECONOMICS
Huaqing Wu , Ling Wang , Fei Peng
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引用次数: 0

Abstract

Exorbitant land prices have been a significant constraint on firm growth; however, few studies have explored their effect on firms' global value chain (GVC) positions. By treating the 2007 minimum price policy for industrial land as a quasi-natural experiment, this study estimates the impact of land price regulations on firms' GVC positions. Using a difference-in-differences method with continuous treatment intensity, we find that industrial land price regulation has a remarkably negative effect on firms' GVC positions. This effect is primarily observed in small- and medium-sized enterprises and private enterprises. The mechanism analysis suggests that industrial land price regulation has significantly increased the cost of land purchases by firms, squeezing their investment in innovation and reducing the quality of intermediate inputs, thereby degrading their position in GVCs.

地价管制与企业在全球价值链中的地位:来自中国的证据
高昂的地价一直是制约企业发展的一个重要因素,但很少有研究探讨其对企业全球价值链(GVC)地位的影响。本研究将 2007 年的工业用地最低价格政策视为一个准自然实验,从而估算了土地价格法规对企业全球价值链地位的影响。利用连续处理强度的差分法,我们发现工业用地价格管制对企业的全球价值链地位有显著的负面影响。这种影响主要体现在中小企业和民营企业中。机制分析表明,工业用地价格管制大大增加了企业购买土地的成本,挤压了企业的创新投资,降低了中间投入品的质量,从而降低了企业在全球价值链中的地位。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
中国经济评论
中国经济评论 ECONOMICS-
CiteScore
10.60
自引率
4.40%
发文量
380
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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