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ABSTRACT This paper examines whether the opening of the China-Europe Railway Express (CRE) affects firms’ cross-regional investment. Using subsidiary-level data of Chinese listed firms from 2003 to 2020, we construct a firm-destination city-year panel and find that CRE openings significantly increase firms’ subsidiary establishment in connected cities.
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
