Can a new national system policy for science and technology promote industrial restructuring in China’s national innovation center cities?

Abstract

AbstractWe establish two types of difference-in-difference (DID) models to study the effects of the policy shocks of the new national system of science and technology on the rationalization and advancedization of industrial structure of national innovation center (NIC) cities. Meanwhile, considering the differences in resource endowment between NIC cities and general cities, we use propensity matching analysis (PSM) to establish matching data on the basis of benchmark data to empirically demonstrate the effect of this policy shock on the industrial structure of NIC cities. The study shows that the policy shock has a promoting effect on the level of industrial structure rationalization in the NIC cities, but not significant effect on the industrial structure advancedization, the improvement of the financing environment can promote the development of industrial structure advancement, the growth of personal wealth has a promoting effect on the industrial structure rationalization, and the increase of the government investment is not conducive to the advancement of industrial structure, although it can promote the rationalization of the industrial structure in China’s NIC cities. Compared with the eastern NIC cities, this policy shock has a greater effect on the rationalization of industrial structure in the Central-western NIC cities of China. In addition, the financing environment and per capita income of NIC cities have a moderating effect on the rationalization of industrial structure under the policy shock. Therefore, NIC cities should actively promote the promotion effect of this policy on the rationalization of industrial structure.