Low-altitude Economy and Cross-regional Investment

Jisen Chang ()
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Jisen Chang: Southwest Petroleum University

A chapter in Proceedings of the 2026 11th International Conference on Social Sciences and Economic Development (ICSSED 2026), 2026, pp 186-197 from Springer

Abstract: Abstract The low-altitude economy represents a new form of productive forces, and its impact on enterprises’ cross-regional investment warrants further examination. Drawing on data from Chinese A-share listed companies between 2001 and 2024, this study employs a fixed-effects model to analyze how low-altitude economy pilot policies influence enterprises’ cross-regional investment. Results indicate that such pilot policies inhibit cross-regional investment, with this conclusion remaining robust after stability tests. Further analysis reveals that the low-altitude economy exerts its effects through multiple channels: enhancing industrial agglomeration to strengthen firms’ local roots, reducing redundant resources to limit cross-regional expansion capacity, and diminishing supply chain stability to increase operational risks in distant locations. Heterogeneity analysis indicates that the suppression effect is most pronounced among state-owned enterprises, firms with weaker CEO backgrounds, and non-technology-intensive, non-capital-intensive businesses. This study reveals that the nascent low-altitude economy exerts a certain degree of restraint on interregional capital flows, thereby potentially guiding rational capital allocation.

Keywords: low-altitude economy; cross-regional investment; industrial agglomeration; sunk redundant resources; supply chain stability (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6239-701-9_20

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DOI: 10.2991/978-94-6239-701-9_20

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