Running on the “dual wheels”: the effect of integrating strategic emerging industries into local economy

We use the synthetic control method (SCM) to examine the effect of integrating strategic emerging industries (SEIs) into the local economy. As our case study, we use a prefecture-level city, Yibin, which pioneered a unique ‘dual wheeling’ economic development model. After implementing such a model, we found that Yibin’s local economy experienced higher GDP growth per capita. We also find that the city’s economy was restructured towards a more industrialized and private economy.