Abstract：

The scale of local government debt exerts a profound impact on regional economic development and the advancement of new quality productivity. Taking nine cities in the Pearl River Delta (PRD) as the research object, this paper constructs a fixed-effects model using panel data from 2015 to 2023 to analyze the relationship between local government debt and new quality productivity. The study finds that the expansion of debt scale in the PRD region promotes the development of new quality productivity in the short term. Heterogeneity analysis reveals that debt has a significantly positive effect on the improvement of new quality productivity in core regions compared with non-core regions.  

Key Words：

local government debt; New Quality Productivity; earl River Delta