Employment Effects and Spatial Spillover of New Infrastructure Special Bonds
Based on prefecture-level city panel data from 2005 to 2021,this article applies a differences-in-differences identification strategy and a differences-in-differences spatial Durbin model.It explores the employment effects of new infrastructure special bonds and spatial spillover.The study reveals the following findings:(1)New infrastructure special bonds generate multiplier effects on employment,not only increasing the employment level in the specified investment sectors by 3.49％,but also stimulating regional employment in non-specified investment sectors by 8.34％through diffusion effects.(2)Unlike traditional infrastructure special bonds,new infrastructure special bonds can generate significant industry and job substitution effects,helping to optimize the employment structure of the labor market.(3)The employment structure effects of new infrastructure special bonds exhibit positive spillover,as indicated by the inflow of high-skilled labor and the outflow of low-skilled labor in the local area.This article provides empirical evidence and reference suggestions for the transformation of the labor market pattern and the reduction of frictional unemployment under the impact of new infrastructure special bonds.
new infrastructure special bondsemployment effectsspatial spillover
万方数据
维普
