"FTZ-IDZ Linkage"and Total Factor Productivity of Enterprises:A Synergistic Perspective Based on Openness and Innovation
Openness and innovation are the core themes of development in the new era and the in-depth promotion of the linked development of pilot free trade zones and national independent innovation demonstration zones("FTZ-IDZ linkage")is an important measure to accelerate the promotion of organic synergy between open innovation and technologi-cal innovation,improve total factor productivity(TFP)and enhance the quality of economic development.Pilot free trade zones aim to form an open environment in line with international standards through a series of institutional innova-tions as the core of its exploration and experimentation;while national independent innovation demonstration zones aim to promote independent innovation and the development of high-tech industries on an early and pilot basis,and drive the transformation and upgrading of industries through innovation as the main goal.Existing research mainly focuses on as-sessing the policy effect of pilot free trade zones and national independent innovation demonstration zones alone,and has not yet formed a consistent research conclusion.This paper studies the impact and mechanism of the"FTZ-IDZ linkage"policy on the enterprise TFP.This contributes to better utilizing the policy synergy effect of"FTZ-IDZ linkage"and im-proving enterprise TFP and the integrated and coordinated development across regions.From the synergistic perspective of openness and innovation,this paper uses a difference-in-differences(DID)model to empirically examine the impact of"FTZ-IDZ linkage"on enterprise TFP and finds that"FTZ-IDZ linkage"sig-nificantly improves enterprise TFP.The results still hold after endogeneity treatment and robustness tests.Meanwhile,this paper analyzes the mechanism of"FTZ-IDZ linkage"from three aspects:capital linkage,talent linkage,and technol-ogy linkage,taking into account the policy connotation and specific practice of"FTZ-IDZ linkage".The results show that"FTZ-IDZ linkage"increases the scale of enterprise financing through capital linkage,optimizes the talent structure of en-terprises through talent linkage,and promotes joint innovation of enterprises through technology linkage,thus improving the enterprise TFP.Further,the promoting effect of the"FTZ-IDZ linkage"is more prominent for non-state-owned en-terprises and enterprises facing higher competition in the industry,and there is a positive spillover effect on the enterprise TFP in neighboring cities.Compared with existing literature,this paper has three possible contributions.Firstly,most existing studies focus on the assessment of the policy effects of pilot free trade zones or national independent innovation demonstration zones alone,but this paper,from the perspective of the policy synergy,explores the functional interaction between the two,providing empirical evidence for the micro-policy effects of the"FTZ-IDZ linkage".Secondly,there are few empirical studies on the synergistic effect between the open policy and innovation policy,while this paper tries to analyze the inter-active and synergistic relationship between the open policy and innovation policy with"FTZ-IDZ linkage"as the research scenario.The conclusion of the study provides the decision-making basis for the promotion of the spatial coupling of pilot free trade zones and national independent innovation demonstration zones to the functional coupling.Thirdly,from the perspectives of capital linkage,talent linkage,and technology linkage,this paper examines the mechanism path of the"FTZ-IDZ linkage"to enhance the enterprise TFP from the transmission channels of financing scale,talent structure,and joint innovation,which expands research on the factors influencing the enterprise TFP from the perspective of policy synergy.The findings of this paper provide important policy insights into further releasing the policy effectiveness of"FTZ-IDZ linkage".Firstly,the integrated development of pilot free trade zones and national independent innovation demonstra-tion zones should be accelerated to realize multi-dimensional strategic linkages such as the interoperability of policy sys-tems,docking of resource elements,and complementary industrial development.Secondly,it should pay attention to the differentiated policy formulation of"FTZ-IDZ linkage"and improve the diversified policy combination system.Lastly,successful experience of the"FTZ-IDZ linkage"policy should be summarized and promoted to strengthen its positive spillover effect and promote integrated and coordinated development with neighboring regions.
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