A Counterfactual Model Based Research on the Institutional Innovation Effect in China's Border Pilot Free Trade Zones:A Case of Yunnan Province
The Pilot Free Trade Zones(PFTZ)is the experimental field of deepening China's reform and opening up.Having the advantage of bordering three countries,Yunnan PFTZ closely connected its institutional innovation effect with the border opening up and the radiation center building for South Asia and Southeast Asia.This paper uses the correlation of economic development between regions to construct a counterfactual model to estimate the effect of Yunnan PFTZ in-stitutional innovation from three aspects of investment,trade and economic growth.The results are as follows:(1)The in-vestment institutional innovation is effective,but it lacks enough momentum to further boost the actual amount of fund utilization;(2)The effectiveness of the trade facilitation institutional innovation is remarkable,for Yunnan PFTZ has taken the geographical advantages of bordering ASEAN,distributing ports to promote the innovation of border trade and cross-border economic cooperation;(3)The institutional innovation of economic growth is rather weak due to the vulnerable ex-port-oriented industrial foundation in Yunnan and insufficient demand of market entities for institutional innovation.Therefore,the key to develop Yunnan PFTZ is to give full play to the advantages of cross-border channels,enhance trade and investment facilitation,attract investment in the advantageous industrial chain,and gradually form industrial clusters to drive the factors complementary with neighboring countries,smooth the domestic and international circulations and build up an integration zone between China and ASEAN with both two markets and two resources.
border pilot free trade zonesinstitutional innovationcounterfactualYunnan
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NSTL
万方数据
