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Does entry deregulation foster entrepreneurship? Evidence from China’s unified market access reform

Author

Listed:
  • Qiu, Lu
  • Yuan, Peng
  • Wei, Shuni
  • Xu, Kefan

Abstract

China's implementation of the negative list system for market access, which for the first time establishes nationally unified rules for market access, is an innovative approach to entry deregulation. Drawing on a difference-in-differences approach, this paper finds that the unified market access rules significantly increase city entrepreneurship. The effects are stronger in cities with better institutional environments and higher digital financial inclusion. The reform is particularly effective in promoting the establishment of service-sector firms rather than manufacturing ones. Mechanism analysis suggests that the unified market access rules promote entrepreneurship by fostering innovation, attracting capital inflows, and reducing transaction costs. These results highlight the role of unified market access rules in promoting entrepreneurship and offer valuable insights for advancing market-oriented reforms.

Suggested Citation

  • Qiu, Lu & Yuan, Peng & Wei, Shuni & Xu, Kefan, 2026. "Does entry deregulation foster entrepreneurship? Evidence from China’s unified market access reform," Economic Analysis and Policy, Elsevier, vol. 89(C), pages 834-859.
    • Handle: RePEc:eee:ecanpo:v:89:y:2026:i:c:p:834-859
    DOI: 10.1016/j.eap.2025.12.034
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    JEL classification:

    • M38 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Government Policy and Regulation
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • L43 - Industrial Organization - - Antitrust Issues and Policies - - - Legal Monopolies and Regulation or Deregulation

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