Does historic preservation affect firms' output? Evidence from the awarding of the Historic City title in China

Ruiming Liu, Haosheng Yan and Zebang Zhang

China Economic Review, 2024, vol. 85, issue C

Abstract: Historic preservation policies have garnered increasing attention and recognition from countries worldwide. However, most studies have focused on local livelihoods and housing, with few examining the effects on firms' production activities. Exploiting the awarding of the Historic City title in China, this paper provides the first empirical evidence of historic preservation's impact on industrial firms' output. Receiving the Historic City title reduces local industrial firms' output by 6.1%. The main mechanisms are restrictions on land use and industrial development. Furthermore, the historic preservation policy has a negative macro effect at the city level. These findings contribute to a more comprehensive understanding of the effects of historic preservation policies.

Keywords: Historic preservation; Historic City; Firm output; Industrial output; Economic development (search for similar items in EconPapers)
JEL-codes: O22 R11 R52 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:chieco:v:85:y:2024:i:c:s1043951x24000452

DOI: 10.1016/j.chieco.2024.102156

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