Free Trade Zone Construction and Enterprise Growth under Dual Circulation:Inhibiting or Facilitating?
In the current context of building a new development pattern,exploring the feasibility of free trade zone construction as a strategic fulcrum of the dual circulation strategy is a significant issue for accelerating the construction of a dual circulation development pattern.This paper uses the free trade zone construction as a quasi-natural experiment,and empirically investigates the impact of free trade zone construction on enterprise growth and its mechanism using a multi-period differ-ence-in-differences method based on a sample of Shanghai and Shenzhen A-share listed companies from 2010 to 2021.The study finds that the construction of free trade zones can significantly pro-mote enterprise growth,and this effect is particularly significant among enterprises in regions with higher administrative levels,enterprises in coastal regions,and enterprises of service industries.Mechanism research finds that free trade zone construction can promote enterprise growth by smoothening domestic and foreign financing for enterprises,boosting the internationalization process of enterprises,optimizing market competition and the business environment.This article not only verifies the pivotal role of the construction of free trade zones in the dual circulation strate-gy from a micro enterprise perspective,but also provides policy insights for the government to fur-ther improve the quality of free trade zone construction.
free trade zone constructionenterprise growthdual circulation
万方数据
维普
