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<p>Place-based policies based on industrial parks have long been tools for promoting industrial clustering and improving performance. However, the suitability of emerging digital park policies for the digital industry remains unverified. Using 2022 cross-sectional data about Chengdu’s digital enterprises and industrial functional zones and a cohort difference-in-differences model, our results indicate that digital park policies significantly enhance the capital scale and operational efficiency of digital enterprises compared to general parks, but they also reduce the scale of formal employment. These findings remain robust under alternative regression methods, placebo tests, and robustness checks. Heterogeneity analysis highlights the inclusiveness of digital parks: smaller digital enterprises with greater proximity to city centers benefit more from policies. Mechanism testing reveals that digital parks improve enterprise performance primarily through urban commuting infrastructure, big data platforms, and fiscal subsidies. This research offers valuable insights into whether and what kind of place-based policies are necessary for fostering the growth of the digital industry.</p>

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Place-based policies develop digital enterprises: evidence from digital parks

  • 期刊论文

  • 发表日期：

    2025年10月8日

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  • Xinju He,
  • Lanxin Liu,
  • Hu Fu,
  • Chuanjiang Yu,
  • Sudong Hua

摘要

Place-based policies based on industrial parks have long been tools for promoting industrial clustering and improving performance. However, the suitability of emerging digital park policies for the digital industry remains unverified. Using 2022 cross-sectional data about Chengdu’s digital enterprises and industrial functional zones and a cohort difference-in-differences model, our results indicate that digital park policies significantly enhance the capital scale and operational efficiency of digital enterprises compared to general parks, but they also reduce the scale of formal employment. These findings remain robust under alternative regression methods, placebo tests, and robustness checks. Heterogeneity analysis highlights the inclusiveness of digital parks: smaller digital enterprises with greater proximity to city centers benefit more from policies. Mechanism testing reveals that digital parks improve enterprise performance primarily through urban commuting infrastructure, big data platforms, and fiscal subsidies. This research offers valuable insights into whether and what kind of place-based policies are necessary for fostering the growth of the digital industry.