Stimulating the vitality of market entities is a key pathway to building a new development pattern and advancing high-quality growth. Using a difference-in-differences model and nationwide business registration data from 2005 to 2021, this paper examines the impact of the Innovative Industry Clusters Policy on new firm entry in both high-tech and non-high-tech industries, as well as its underlying mechanisms. The results show that the policy significantly promotes new firm entry across both sectors. Mechanism analysis reveals that the policy encourages high-tech firm entry by reducing institutional entry barriers, as well as innovation-specific and general factor entry costs. For non-high-tech industries, the positive effect mainly arises through the reduction of general factor entry costs. Further heterogeneity analysis indicates that policy effects are more pronounced in regions with a stronger high-tech industrial base and a more favorable business environment, underscoring the importance of factor endowments and institutional conditions in shaping policy outcomes.Based on these findings, the paper offers policy recommendations aimed at supporting more balanced development and maximizing the benefits of innovation policy across diverse economic contexts.
SONG De-yong
,
LIANG Ying-ying
,
LIN Xiang-sen
. Study on the impact of the innovative industry clusters policies on urban new firm entry[J]. Urban Problems, 2025
, 357(4)
: 19
-33
.
DOI: 10.13239/j.bjsshkxy.cswt.250402
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