China Journal of Economics

2025, v.12;No.47(03) 37-53

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Economic Zones and Firms' outward FDI: Evidence from China

Guofeng Zhang;Junru Chen;He Li;

Abstract:

This paper contributes to the literature by identifying the casual effect of economic zones on firms' outward FDI. Using the data of Annual Survey of Industrial Firms(ASIF) merged with List of Chinese Firms' FDI, empirical results present the promoting effect of economic zones on firms' FDI and the mechanism of firms' productivity and financing constraints. After the robustness test, the results remain valid. Finally, this paper documents some heterogeneity of the effects across the types of economic zones, firms and FDI.

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Foundation: 北京市社会科学基金一般项目“数字化赋能北京市制造业企业价值链攀升”(项目号:21JJB015)的资助

Authors: Guofeng Zhang;Junru Chen;He Li;

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