In the context of frequent external shocks and increasing uncertainties,investigating whether market integration can enhance urban economic resilience is of great practical importance.Using the Yangtze River Delta region as a case study and data from 2003 to 2021,this paper examines the mechanisms by which market integration affects urban economic resilience from the dual perspectives of product and factor markets.The results show that the integration of product,labor,and capital markets all contribute to strengthening urban economic resilience.In tests of exogenous shocks,integration of product and labor markets was found to mitigate the negative impact on the economy.Heterogeneity analysis shows that the formation of metropolitan areas and urban agglomerations has,to some extent,amplified the effects of market integration.Cities specialized in service functions and those highly dependent on foreign capital benefit mainly from product market integration,while cities specialized in production functions,those less dependent on foreign capital,and those with closer government relations and cleaner governance rely more on factor market integration.Mechanism tests suggest that technological innovation,industrial upgrading,and economic agglomeration are crucial channels through which product and labor market integration enhance urban economic resilience,while capital market integration enhances resilience only through technological innovation.The conclusions of this study provide theoretical and empirical support for the in-depth implementation of integration strategies in the Yangtze River Delta and contribute to high-quality economic development.
维普
万方数据