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Can the cross-border e-commerce comprehensive pilot area policy improve China's FDI quality?

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  • Cao, Yunshi
  • Wang, Yanzhen
  • Hong, Chang
  • Ji, Shengbao

Abstract

Through policy innovation, digital empowerment, and business environment optimization, the cross-border e-commerce comprehensive pilot area (CECPA) policy plays a crucial role in improving foreign direct investment (FDI) quality. However, empirical evidence on its effects and underlying mechanisms remains limited. Using 2009–2021 panel data for 257 Chinese cities, this study applies a multiperiod difference-in-differences model to assess the CECPA policy's impact on FDI quality. The results show that the policy significantly enhances FDI quality, and the findings remain robust across tests. Mechanism analysis indicates that CECPA improves FDI quality by strengthening digital industry agglomeration, technological innovation, and value-added tax reduction. Heterogeneity tests reveal stronger effects in non-core and non-resource-based cities, as well as in cities with higher human capital and more advanced digital infrastructure. Additional analysis shows that the CECPA policy contributes to economic growth by improving FDI quality. Overall, this study offers practical insights for regions seeking to leverage the CECPA policy to enhance FDI quality and stimulate economic development.

Suggested Citation

  • Cao, Yunshi & Wang, Yanzhen & Hong, Chang & Ji, Shengbao, 2026. "Can the cross-border e-commerce comprehensive pilot area policy improve China's FDI quality?," Economic Modelling, Elsevier, vol. 157(C).
    • Handle: RePEc:eee:ecmode:v:157:y:2026:i:c:s0264999326000325
    DOI: 10.1016/j.econmod.2026.107503
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    20. Gong, Robin Kaiji, 2023. "The local technology spillovers of multinational firms," Journal of International Economics, Elsevier, vol. 144(C).

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    Keywords

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    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • P45 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - International Linkages

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