Does the Establishment of Shanghai Pilot Free Trade Zone Promote Yangtze River Delta's Economic Development?  

作　　者：Xinhong Liu Norliza Hamir Basah 

机构地区：[1]Universiti Utara Malaysia

出　　处：《China Finance and Economic Review》2025年第1期92-112,共21页中国财政与经济研究(英文)

摘　　要：In September 2013,the Chinese government approved establishing Shanghai Pilot Free Trade Zone(SPFTZ),the first Pilot Free Trade Zone(PFTZ)in the country.SPFTZ mainly implements policy and institutional innovation,aiming to extend reform and opening-up,generate the dividends of reform,serve as a trial for new initiatives,and replicate successful experiences nationwide.To explain the impact of SPFTZ on Yangtze River Delta's(YRD)Economic Development,this paper chooses annual panel data of 41 cities between 2006 and 2022,verifying economic effect of SPFTZ's establishment on YRD by constructing a Difference-in-Differences(DID)model.Empirical results indicate that the creation of SPFTZ stimulated YRD's economic development.Further analysis reveals that SPFTZ fosters regional economic growth by enhancing financial circulation and attracting foreign direct investment(FDI).To strengthen SPFTZ's development,it is essential to optimize the spatial layout of the zone,grant greater autonomy for reform and innovation,and prioritize financial opening and innovation.

关 键 词：Shanghai Pilot Free Trade Zone(SPFTZ) Yangtze River Delta(YRD)economic development Difference-in-Differences(DID)method countermeasures and suggestions 

分 类 号：F127[经济管理—世界经济]