Industrial Policy,Human Capital Investment,and Long-Term Work Rewards:Empirical Evidence from Special Economic Development Zones
Economic development zones are an important practice of industrial policies,and their establishment and development have a significant impact on the human capital investment and long-term work rewards of micro individuals.Based on data from economic development zones and micro survey data from population censuses,this paper uses a cohort DID model to study the impact of the establish-ment of economic development zones on micro individual education investment and long-term work re-wards.Research has found that:(1)Due to the increased opportunity cost of education,the establish-ment of economic development zones has reduced the years of education for micro individuals in the short term.(2)In the long run,if the industrial development of economic development zones matches the regional factor endowment structure to a high extent,there is no significant difference in the income level of micro individuals affected by the establishment of economic development zones compared to other micro individuals.
industrial policyhuman capital investmentfactor endowment structurenew struc-tural economics
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