Credit System and Urban Entrepreneurial Vitality——Evidence from the"Social Credit System Construction Demonstration Zone"
A sound social credit system is an important support to stimulating entrepreneurial vitality.Based on the natural experiment of social credit system construction,based on the panel data of 284 prefecture-level cities in China in 2013-2021,the influence and channels of social credit system construction on the entrepreneurial vitality of cities were investigated by gradual DID and other methods.Research findings:first,the construction of the social credit system has stimulated the entrepreneurial vitality of the city,The results are still true in dual machine learning,ro-bustness and other tests;Second,the mechanistic analysis shows that,The construction of the social credit system has stimulated the entrepreneurial vitality of the city by reducing the transaction costs,improving the financing environment,and enhancing the technological innovation;Third,the het-erogeneity analysis found that the construction of social credit system has a deeper impact on the entrepreneurial vitality of regions with higher digital economy,lower degree of market integration and higher digital inclusive finance;In addition,the demonstration area of social credit system construc-tion has an obvious positive effect on promoting the entrepreneurial vitality of science-technology and non-science-technology,labor-intensive and capital-intensive industries.Fourth,the construction of the social credit system has an obvious space spillover effect on the entrepreneurial vi-tality of the adjacent areas.The research conclusion provides the corresponding reference and suggestions for how to build a social credit system and create a good atmosphere for innovation and entrepreneurship.
万方数据
