Title: Place-Based Policies and Market Integration in Investment: Evidence from China

Speaker: Zhu Jiong, Associate Professor, Modern College of Agriculture, Peking University; Research Fellow, China Agricultural Policy Research Center.

Abstract: This paper investigates the extent to which place-based policies affect cross-regional flows of private investment. Leveraging the implementation of the Paired Assistance Program in China, we find an increase in the volume of inward private investment flows originating from assisting cities and directed toward assisted cities. To quantify the implications of the inter-regional investment flows, we evaluate our estimates within a spatial equilibrium model with endogeneous investment flows. Although we observe a non-trivial improvement in national welfare due to the program, we find that a better assignment of assisting and assisted city pairs would lead to a welfare gain larger than that of the actual assignment.

Date & time: 12 May 2026, 10:00 - 11:30

Venue: B321, Zhixin Building, Central Campus, Shandong University