How to Promote the Upgrading of County Industrial Structure by Returning Home for Entrepreneurship——A Quasi-Natural Experiment Based on the Pilot Policy
Developing county industries and enhancing the driving effect of the county economy on rural industries are crucial for realizing the Rural Revitalization Strategy. Based on the panel data of 1844 counties in 27 provinces in China from 2011 to 2019, this paper uses the Staggered DID methods to study the impact of returning home for entrepreneurship on upgrading county industrial structure. The study found that returning home for entrepreneurship has significantly upgraded the county’s industrial structure. The results remained robust after reviewing the heterogeneous treatment effects and tests using methods such as PSM-DID, placebo test, and substitution variables. Mechanism analysis shows that returning home for entrepreneurship has improved the level of technological innovation and capital agglomeration of the county economy, thereby promoting the upgrading of the county’s industrial structure. In addition, there are significant regional differences in policy effects,with the strongest policy effects in underdeveloped areas, followed by medium areas, and no significant policy effects in developed areas. Therefore, it is suggested to continue implementing and optimizing the policy, exploring the long-term mechanism to support homecoming entrepreneurship in terms of promoting innovation and introducing capital, and strengthening policy support for underdeveloped areas.