International Economics最新文献

Foreign direct investment and the gender wage gap: Evidence from China 外国直接投资与性别工资差距：来自中国的证据

International Economics Pub Date : 2025-09-18 DOI: 10.1016/j.inteco.2025.100642

Xinxin Ma

引用次数: 0

Weaning Away from China – Trade and Welfare Implications 戒掉对中国的依赖——贸易和福利的影响

International Economics Pub Date : 2025-09-15 DOI: 10.1016/j.inteco.2025.100643

Devasmita Jena , Uzair Muzaffar , Rahul Nath Choudhury

{"title":"Weaning Away from China – Trade and Welfare Implications","authors":"Devasmita Jena , Uzair Muzaffar , Rahul Nath Choudhury","doi":"10.1016/j.inteco.2025.100643","DOIUrl":"10.1016/j.inteco.2025.100643","url":null,"abstract":"<div><div>Over the past years, import dependency on China has deepened and expanded globally. Incidents such as supply chain disruptions during COVID19, due to over-dependence on a single supply source, and countries' heavy reliance on Chinese imports—often termed the “China shock”—have raised global concerns and prompted efforts to reduce dependence on China. The attempt at weaning off started in 2018 when the US imposed additional tariffs on its imports from China. Gradually, the process of decoupling from China was adopted by other economies. Despite these motivations, data show that nations continue to depend increasingly on Chinese imports. In this study, we empirically quantify trade dependence on China and estimate the costs associated with reducing such dependence using a structural gravity model of trade. We find that lowering dependence on Chinese imports reduces countries' propensity to export. Furthermore, general equilibrium counterfactual simulations show that if the US progressively reduces its import dependency on China, the welfare loss will be greater for the US than for China. The rest of the world will also suffer welfare losses as a result of US actions to restrict Chinese imports.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"184 ","pages":"Article 100643"},"PeriodicalIF":0.0,"publicationDate":"2025-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145106040","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Systemic financial stress and the returns and volatility of ESG-themed assets 系统性金融压力与esg主题资产的回报和波动性

International Economics Pub Date : 2025-09-12 DOI: 10.1016/j.inteco.2025.100639

Denis N. Yuni , Hela Mzoughi , Ilyes Abid , Christian Urom

{"title":"Systemic financial stress and the returns and volatility of ESG-themed assets","authors":"Denis N. Yuni , Hela Mzoughi , Ilyes Abid , Christian Urom","doi":"10.1016/j.inteco.2025.100639","DOIUrl":"10.1016/j.inteco.2025.100639","url":null,"abstract":"<div><div>A firm’s negative environmental performance directly affects its financial outcomes, such as returns and stock price volatility. Consequently, the role of investors’ attitudes toward environmentally responsible investment in shaping growth dynamics has recently occupied center stage in research and policy debates. This paper quantifies the financial relevance of environmental, social, and governance (ESG) assets by rigorously assessing the dynamic interactions of returns and volatility between the global financial stress index and various ESG-themed assets. We study how periods of financial turbulence impact performance and resilience narratives of these investments. Given the inherently dynamic nature of these interactions, we identify distinct spillover effects by estimating a Time-varying Parameter Vector Autoregression model using a high-frequency, decade-long sample (February 28, 2014 to March 06, 2024), which covers multiple crisis periods including the COVID-19 pandemic and the ongoing Russia-Ukraine and Israel-Gaza wars. Our findings reveal that volatility connectedness peaked during the COVID-19 pandemic and was weakest during the Israel-Gaza war. While short-term developments dominate return connectedness, volatility connectedness is consistently driven by long-term factors. In terms of return connectedness, financial stress is found to be a net transmitter of shocks to the ESG market in the short term, while in terms of volatility connectedness, it is also a net transmitter of shocks except during war periods. Across ESG markets and at both frequencies, the global ESG index emerged as the primary source of return and volatility connectedness, whereas the Asia-Pacific ESG market was the main recipient of shocks. Our results can guide investors, policy makers, and companies in adopting and promoting specific ESG practices, ultimately fostering a more resilient and sustainable global economy.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"184 ","pages":"Article 100639"},"PeriodicalIF":0.0,"publicationDate":"2025-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145106039","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Nonlinearities and state-dependence in the monetary transmission mechanism: Evidence from a commodity-dependent economy 货币传导机制中的非线性和国家依赖性：来自商品依赖型经济的证据

International Economics Pub Date : 2025-09-10 DOI: 10.1016/j.inteco.2025.100640

Gan-Ochir Doojav , Arman Juragat

引用次数: 0

Linking international financial inflows and access to drinking water, sanitation and hygiene in schools 将国际资金流入与学校获得饮用水、环境卫生和个人卫生联系起来

International Economics Pub Date : 2025-09-10 DOI: 10.1016/j.inteco.2025.100641

Brice Kamguia , Sosson Tadadjeu

引用次数: 0

Assessing the influence of three policies on Vietnam's economic development: Electricity infrastructure, globalization, and privatization 评估三个政策对越南经济发展的影响：电力基础设施、全球化和私有化

International Economics Pub Date : 2025-08-25 DOI: 10.1016/j.inteco.2025.100632

Gerard Sasges , Harutaka Takahashi

{"title":"Assessing the influence of three policies on Vietnam's economic development: Electricity infrastructure, globalization, and privatization","authors":"Gerard Sasges , Harutaka Takahashi","doi":"10.1016/j.inteco.2025.100632","DOIUrl":"10.1016/j.inteco.2025.100632","url":null,"abstract":"<div><div>This study evaluates the contributions of three key policies—electricity infrastructure, globalization, and privatization—to Vietnam's economic development from 1980 to 2018. This period can be divided into two distinct phases: Period I (1980–1997) was characterized by high but unstable growth, while Period II (1998–2018) witnessed sustained high growth and improved stability. To assess the impact of these policies on GDP growth during both phases, impulse response and vector autoregression (VAR) analyses were conducted. Our results show that during Period I, globalization and energy infrastructure had immediate and substantial positive impacts on GDP growth but also contributed to growth rate instability. In Period II, power infrastructure and globalization continued to support GDP growth, though the effects were relatively minor. In contrast, privatization policies had a significant impact. They contributed to stable household consumption growth and enhanced the resilience of GDP growth to policy shocks, thus playing a key role in achieving the stable and high growth trajectory observed since 1998. While Vietnam's development path may appear unique from the standpoint of existing development theories, optimal growth theory offers a more suitable explanatory framework.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"184 ","pages":"Article 100632"},"PeriodicalIF":0.0,"publicationDate":"2025-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144988926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Measuring public-private partnership efficiency: A sectoral analysis of electricity and ports 衡量公私伙伴关系效率：电力和港口的部门分析

International Economics Pub Date : 2025-08-21 DOI: 10.1016/j.inteco.2025.100630

Ababacar Mbaye Sambe

引用次数: 0

Firm exit, technology and trade: A sectoral perspective 企业退出、技术与贸易：行业视角

International Economics Pub Date : 2025-08-20 DOI: 10.1016/j.inteco.2025.100626

Massimo Del Gatto , Mattia Peracchia

引用次数: 0

Inflation diffusion through supply chains 通货膨胀通过供应链扩散

International Economics Pub Date : 2025-08-19 DOI: 10.1016/j.inteco.2025.100627

Nuriye Melisa Bilgin

引用次数: 0

Measuring political leader's geopolitical risk perceptions 衡量政治领导人的地缘政治风险认知

International Economics Pub Date : 2025-08-19 DOI: 10.1016/j.inteco.2025.100631

Asei Ito , Jaehwan Lim , Hongyong Zhang

{"title":"Measuring political leader's geopolitical risk perceptions","authors":"Asei Ito , Jaehwan Lim , Hongyong Zhang","doi":"10.1016/j.inteco.2025.100631","DOIUrl":"10.1016/j.inteco.2025.100631","url":null,"abstract":"<div><div>Does a political leader's perception of geopolitical risk influence the real economy? If so, to what extent and through what mechanisms? Using local-language sources, we explore these questions by constructing a geopolitical risk index based on textual data from statements made by Chinese President Xi Jinping and examining its relationship to firms' investment behavior in China. The index shows notable spikes in April 2016, June 2018, and April 2022, corresponding to terrorist attacks in neighboring countries, U.S.-China tensions, and the Russia-Ukraine war. We find that an increase in the geopolitical risk index is associated with a decline in firms' investment rates. Specifically, a 100 % increase in the index leads to a 14.1 % reduction in investment. Notably, while firms with high effective interest rates and greater exposure to international trade are adversely affected by the geopolitical risk, politically connected firms are less affected, indicating their ability to mitigate its negative effects. Our findings advance the geopolitical risk literature by highlighting the role of political leaders' perceptions, utilizing local sources to measure this factor, and examining the moderating effect of political connections under geopolitical risks.</div></div>","PeriodicalId":13794,"journal":{"name":"International Economics","volume":"183 ","pages":"Article 100631"},"PeriodicalIF":0.0,"publicationDate":"2025-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144890519","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0