市场一体化与经济韧性:基于长三角地区的经验证据  

Market Integration and Economic Resilience:Empirical Evidence Based on the Yangtze River Delta Region

作　　者：张斌[1,2] 吴富强 ZHANG Bin;WU Fu-qiang(Business School,Soochow university,Suzhou Jiangsu 215021,China;Modern Finance Research Center of Jiangsu Province,Suzhou Jiangsu 215021,China)

机构地区：[1]苏州大学商学院,江苏苏州215021 [2]江苏现代金融研究基地,江苏苏州215021

出　　处：《苏州大学学报（哲学社会科学版）》2024年第5期52-62,共11页Journal of Soochow University(Philosophy & Social Science Edition)

基　　金：江苏高校哲学社会科学研究重大项目“包容性增长视角下江苏城镇化与生态环境协调发展的机理和政策研究”(项目编号:2019SJZDA044)的阶段性成果。

摘　　要：以长三角地区为例,基于2003—2021年数据,本文从产品和要素市场双重视角,探究市场一体化对城市经济韧性的影响机理。结果发现,产品、劳动和资本市场一体化均可赋能经济韧性。在外生冲击检验中,产品和劳动市场一体化能够缓解冲击对经济的负面影响。异质性分析发现,都市圈和城市群的设立一定程度增强了市场一体化作用。服务功能专业化城市和外资依存度较高城市主要通过产品市场一体化发挥作用;而生产功能专业化城市、外资依存度较低城市、政商关系较“亲廉”城市更依赖要素市场一体化。机制检验表明,技术创新、产业结构升级和经济集聚是产品和劳动市场一体化提高城市经济韧性的重要渠道,资本市场一体化仅能通过技术创新提高城市经济韧性。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.

关 键 词：市场一体化 城市经济韧性 外生冲击 要素市场 产品市场 

分 类 号：F127[经济管理—世界经济]