Heterogeneity Analysis of Metropolitan Area Policies Affecting Regional Economic Growth and Examination of the Mechanism: Evidence from Municipal Panel Data from 2012-2021

Ziyun  Zhao

doi:10.54691/bcpbm.v33i.2786

Authors

Ziyun Zhao

DOI:

https://doi.org/10.54691/bcpbm.v33i.2786

Keywords:

metropolitan area; regional economy; spillover effect; difference-in-difference.

Abstract

As urbanization deepens, metropolitan areas have gradually become an important vehicle for regional economy development. To study how metropolitan area planning will affect regional economic growth, this paper considers metropolitan area planning as a regional economic policy and examines the effect of metropolitan area policy on regional economic growth based on panel data of metropolitan areas within the Yangtze River Delta city cluster and Chengdu-Chongqing city cluster from 2012 to 2021, using a multi-period difference-in-difference model. It is found that: (1) the policy of metropolitan area generally promotes regional economic growth and enhances the regional economic growth rate; (2) there is some heterogeneity in the policy effects of metropolitan area, specifically: the positive promotion effect of the policy on Shanghai metropolitan area and Hangzhou metropolitan area is obvious, while Nanjing metropolitan area and Chengdu-Chongqing twin-city economic circle do not benefit from it; (3) the economic benefits brought by the policy of the metropolitan area are jointly determined by the spillover effect of the central city and the siphon effect, and the larger the economic scale of the central city, the more significant the positive impact on the economy of the surrounding areas; (4) the policy effectiveness of the metropolitan area decays with the expansion of the radius of action.

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