Dependent Variable: TFP

(1)

(2)

(3)

(4)

Industrial transfer area

Industrial undertaking area

Counties with

industrial park

Counties without industrial park

DID

−6.5010***

−4.8365***

−9.2650*

4.3496***

(0.9945)

(0.9646)

(1.3463)

(0.6692)

Control variables

Yes

Yes

Yes

Yes

County fixed effect

Yes

Yes

Yes

Yes

Year fixed effect

Yes

Yes

Yes

Yes

Observations

949

1833

1053

780

R-squared

0.4662

0.0051

0.0120

0.4402