Study on the Promotional Effect of Free Trade Zones on Regional Economy—Multi-period Double-difference Method Study Based on Prefecture-level City Level
The Free Trade Zone School of Economics and Management,(FTZ)is a new round of reform and opening-up"testing ground"in China,based on the context of domestic and international dual circulation.It holds significant importance in promoting regional economic development and external openness.Research into the promotion effects of establishing free trade zones on regional economies,Based on the annual panel data of 280 Chinese prefecture-level cities from 2009 to 2019,this paper conducts the analysis of the impact of FTZ policies on regional economy through multi-period double-difference method using gross regional product as the measure,and uses placebo test as well as counterfactual test to test the robustness from different perspectives.The empirical study found that,overall,the FTZ can effectively drive positive regional economic development,and this result is robust.Therefore,in the future,it is important to further harness the spillover effects of free trade zone policies,prioritize innovation,and ensure that economic policies in various regions are introduced more rapidly and flexibly to match their rapid economic growth,while also enhancing the development of open systems.
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