How Does the Construction of the Social Credit System Influence the Resilience of the Urban Economy?
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Abstract Taking 246 prefecture-level and above cities in China from 2008 to 2023 as the research sample, this study employs a difference-in-differences model to examine the impact and underlying mechanisms of the social credit system construction on urban economic resilience. The results show that the social credit system construction significantly enhances urban economic resilience, and this result remains robust after a series of parallel-trend tests, variables replacement and multi-period PSM-DID analyses. Mechanism analysis indicates that technological innovation-driven development and industrial structure optimization are the primary pathways through which the social credit system enhances urban economic resilience. Moreover, compared to industrial structure rationalization, the mediating effect of industrial structure upgrading is more significant. Heterogeneity analysis reveals that the promoting effect of social credit system construction on urban economic resilience is more pronounced in samples from eastern and central regions, areas with higher government transparency, more favorable rule-of-law business environments, and greater abundance of science and education resources. The conclusion highlights the crucial role of a sound credit mechanism in facilitating the smooth operation of the national economy, enhancing economic resilience and vitality, and providing an important reference for the government to continuously promote the construction of the social credit system.
ZHANG Rao,CHU Peipei. How Does the Construction of the Social Credit System Influence the Resilience of the Urban Economy?. Economic Survey, 2025, 42(6): 03.
2025, Vol. 42 
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