Market access and firm productivity: Evidence from a natural experiment

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-10-11 DOI:10.1016/j.frl.2024.106267

Mengting Jiang , Pu Gong , Dongmin Kong

引用次数: 0

Abstract

Based on China's Market Access Prohibition List, this paper explores the impact of market access reforms on firm productivity, employing data from Chinese listed companies from 2010 to 2019. To identify causality, we conduct a staggered DID estimation and find that provinces implementing the Market Access Prohibition List exhibit higher growth in productivity than those that do not. Moreover, this positive effect is more pronounced for non-SOEs and firms in less marketed regions. Reducing rent-seeking costs and promoting corporate innovation serve as mechanisms to facilitate firm productivity. This research sheds light on the economic consequences of liberalizing market access restrictions.

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市场准入与企业生产力：来自自然实验的证据

本文以中国的《市场准入禁止目录》为基础，利用2010年至2019年的中国上市公司数据，探讨了市场准入改革对企业生产率的影响。为了识别因果关系，我们进行了交错的 DID 估计，发现实施《市场准入禁止目录》的省份比未实施《市场准入禁止目录》的省份表现出更高的生产率增长。此外，这种积极影响对于非国有企业和市场化程度较低地区的企业更为明显。降低寻租成本和促进企业创新是提高企业生产率的机制。这项研究揭示了放开市场准入限制的经济后果。

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

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

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