International Review of Economics & Finance最新文献

Research on livelihood capital, endogenous development momentum and sustainable livelihoods of relocated farmers 农户生计资本、内生发展动力与可持续生计研究

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-07 DOI: 10.1016/j.iref.2025.104259

Junhong Shi , Zhe Xian , Tianqi Zhu , Xiaohong Kang

{"title":"Research on livelihood capital, endogenous development momentum and sustainable livelihoods of relocated farmers","authors":"Junhong Shi , Zhe Xian , Tianqi Zhu , Xiaohong Kang","doi":"10.1016/j.iref.2025.104259","DOIUrl":"10.1016/j.iref.2025.104259","url":null,"abstract":"<div><div>The large-scale relocation and resettlement projects in China have significantly improved the sense of gain, satisfaction, and happiness of the relocated population, and steadily enhancing their sustainable livelihoods is crucial for achieving common prosperity. Based on the sustainable livelihoods theory for farmers and an analytical framework, this article uses survey data from relocated farmers in three provinces of China to measure and evaluate their endogenous development drivers, sustainable livelihoods, and community governance capabilities. The OLS regression model is employed to test the impact of livelihood capital on the sustainable livelihoods of relocated farmers, the mediating effect of endogenous development momentum, and the moderating effect of community governance capabilities. Descriptive statistical analysis reveals that community governance capabilities, endogenous development momentum levels, and sustainable livelihood levels decrease in sequence. The empirical results show that the enhancing effect of livelihood capital on the sustainable livelihood level of relocated farmers, the mediating effect of endogenous development momentum, and the moderating effect of community governance capabilities are all significant.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"102 ","pages":"Article 104259"},"PeriodicalIF":4.8,"publicationDate":"2025-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144271853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Urban-rural population mobility, government governance and regional coordinated development 城乡人口流动、政府治理与区域协调发展

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-06 DOI: 10.1016/j.iref.2025.104229

Shuo Miao , ShaoNan Li

{"title":"Urban-rural population mobility, government governance and regional coordinated development","authors":"Shuo Miao , ShaoNan Li","doi":"10.1016/j.iref.2025.104229","DOIUrl":"10.1016/j.iref.2025.104229","url":null,"abstract":"<div><div>Urban-rural population mobility has increasingly become a key factor shaping economic disparities and regional coordination in developing economies. This paper examines the impact of urban-rural population mobility on regional coordinated development and highlights the moderating role of government governance. Employing panel data from Chinese prefecture-level cities from 2010 to 2023 and satellite-derived nighttime light data, we demonstrate that urban-rural population mobility significantly narrow regional economic disparities. Theoretically, our model underscores that surplus rural labor migration enhances efficiency through reallocation but that the benefits depend critically on government governance capacity, which reduces institutional barriers, improves infrastructure, and corrects market distortions. Empirical results confirm that governance capacity amplifies the coordination effect of population mobility, with pronounced impacts observed in areas characterized by superior transportation access, cultural diversity, and balanced resource endowments. These findings imply that achieving balanced regional development necessitates complementary institutional reforms alongside policy measures fostering greater urban-rural integration.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104229"},"PeriodicalIF":4.8,"publicationDate":"2025-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253916","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Marketization, digital economy, and industrial structure transformation: Mechanisms and regional variations 市场化、数字经济与产业结构转型：机制与区域差异

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-05 DOI: 10.1016/j.iref.2025.104228

Siyuan Bi , Xiangjian Zhang , Guolin Xiao , Hanxi Li

引用次数: 0

Intelligence-driven Growth: Exploring the dynamic impact of digital transformation on China's high-quality economic development 智能驱动增长：探讨数字化转型对中国经济高质量发展的动态影响

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-05 DOI: 10.1016/j.iref.2025.104240

Yu-Cheng Lin, Xuhong Xu

{"title":"Intelligence-driven Growth: Exploring the dynamic impact of digital transformation on China's high-quality economic development","authors":"Yu-Cheng Lin, Xuhong Xu","doi":"10.1016/j.iref.2025.104240","DOIUrl":"10.1016/j.iref.2025.104240","url":null,"abstract":"<div><div>Digital transformation has emerged as a crucial driver of high-quality economic growth and represents one of China's key strategies for achieving sustainable development. Its role in enhancing total factor productivity (TFP) and promoting green and sustainable practices is of significant importance. Drawing on a comprehensive dataset spanning 1993 to 2023 in China, this study employs a combination of social network analysis (SNA) and deep learning techniques to investigate the impact of digital transformation on high-quality economic development, as main measured by green total factor productivity (GTFP). The findings reveal three key insights: First, leveraging location-based big data analysis, industrial automation (IR) and economic policy uncertainty (EPU) are identified as the primary factors significantly influencing China's high-quality economic development. Second, while IR positively influences GTFP, EPU exerts a negative impact. Third, comparative evaluation of multiple models indicates that recurrent neural networks (RNN) outperform others in accurately predicting GTFP. This study introduces a novel methodological framework integrating data-driven forecasting with systemic policy interventions. By leveraging big data analysis to identify critical influencing factors and employing deep learning techniques to predict GTFP, this research broadens interdisciplinary approaches to sustainability. Additionally, the findings offer theoretical guide and actionable insights for strategic planning toward a green and sustainable economic future.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104240"},"PeriodicalIF":4.8,"publicationDate":"2025-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Understanding Bank-Level Uncertainty: New insights into banking activity and its macroeconomic impacts 理解银行层面的不确定性：对银行活动及其宏观经济影响的新见解

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-05 DOI: 10.1016/j.iref.2025.104258

S.M. Woahid Murad , Shams Pathan , Robert B. Durand , Chen Zheng

{"title":"Understanding Bank-Level Uncertainty: New insights into banking activity and its macroeconomic impacts","authors":"S.M. Woahid Murad , Shams Pathan , Robert B. Durand , Chen Zheng","doi":"10.1016/j.iref.2025.104258","DOIUrl":"10.1016/j.iref.2025.104258","url":null,"abstract":"<div><div>This study measures a text-based Bank-Level Uncertainty (BLU) index to examine how uncertainty impacts banking activities and macroeconomic outcomes. Using quarterly earnings calls from US Bank Holding Companies (2001:Q1–2022:Q4), BLU is developed to capture four exogenous shocks: regulatory changes, natural disasters, pandemics, and wars & terrorist attacks. Keywords associated with these shocks, combined with “risk” and “uncertainty” terms, are used to construct category-specific and overall uncertainty measures. Findings show that higher values of BLU reduce bank liquidity creation, loan issuance, and stock returns, while increasing liquidity holdings. A structural vector autoregressive (SVAR) analysis further reveals that higher BLU lowers national output, employment, and price levels while increasing policy uncertainty. By highlighting the distinctiveness of BLU compared to existing uncertainty indexes, this research underscores the importance of tailored metrics in understanding sector-specific uncertainty, providing valuable insights for policymakers and financial institutions to enhance resilience.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"102 ","pages":"Article 104258"},"PeriodicalIF":4.8,"publicationDate":"2025-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144271855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The impact of calendar provisioning on bank strategies 日历拨备对银行策略的影响

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-04 DOI: 10.1016/j.iref.2025.104134

Michele Moretto, Bruno M. Parigi

{"title":"The impact of calendar provisioning on bank strategies","authors":"Michele Moretto, Bruno M. Parigi","doi":"10.1016/j.iref.2025.104134","DOIUrl":"10.1016/j.iref.2025.104134","url":null,"abstract":"<div><div>Calendar provisioning aims to prevent banks from delaying the recognition of NPLs losses. It establish the minimum percentage of loss coverage requirements, based on the time elapsed since the default classification. This paper provides a micro–founded model of the impact of calendar provisioning on two bank strategies: Active (recapitalize when the leverage constraint binds) and Passive (sell NPLs when the leverage constraint binds). Loans evolve according to a Geometric Brownian Motion augmented with a Poisson process to capture the probability of rules enforcement. As banks management of their NPLs involve irreversible decisions our analysis use a real option framework. We obtain a closed-form solution of the option values of the two strategies which allows us to calibrate their impact, that of key parameters, and to obtain insights that deliver testable propositions. An increase in the probability of calendar provisioning makes NPLs sales more likely and speeds their sales up. When the bank has a low cost of equity or faces a low probability of intervention it prefers the Active strategy. An increase in the bank’s NPL depreciation rate may induce the bank to prefer the Active to the Passive strategy, leading to NPLs sales with lower probability. The policy implications are that while the regulator can affect NPLs sales via the probability of enforcing calendar provisioning, it must also take into account bank specific circumstances since the cost of equity and the NPLs depreciation rate are specific to each bank and each jurisdiction.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104134"},"PeriodicalIF":4.8,"publicationDate":"2025-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144223559","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exploring the transmission pathway of “Data-Finance” synergistic clustering on corporate economic adaptability: Evidence from quasi-experimental analysis in national Big Data Pilot Zones 探索“数据-金融”协同集群对企业经济适应性的传导路径——来自国家大数据试验区准实验分析的证据

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-03 DOI: 10.1016/j.iref.2025.104233

Jing Xu , Wudi Xu

{"title":"Exploring the transmission pathway of “Data-Finance” synergistic clustering on corporate economic adaptability: Evidence from quasi-experimental analysis in national Big Data Pilot Zones","authors":"Jing Xu , Wudi Xu","doi":"10.1016/j.iref.2025.104233","DOIUrl":"10.1016/j.iref.2025.104233","url":null,"abstract":"<div><div>Under the dual impetus of digital transformation and financial deepening, data has become a critical driver of economic development. This study, set against the backdrop of national big data comprehensive pilot zones, utilizes data from Chinese listed companies spanning 2011–2022. Employing a multi - period difference - in - differences method, it thoroughly examines the impact of “Data + Finance” dual agglomeration on corporate economic resilience, which encompasses growth resilience and volatility resilience. The research findings reveal that data factor agglomeration significantly enhances both corporate economic growth resilience and volatility resilience. Financial agglomeration, on the other hand, primarily exerts a positive impact on economic growth resilience, with little discernible effect on volatility resilience. Mediating effect analysis indicates that data factor agglomeration indirectly strengthens corporate economic growth resilience by promoting financial agglomeration. Further heterogeneity analysis uncovers significant differences in the positive effects of data factor agglomeration and the mediating role of financial agglomeration across firms of varying scales and industries (high - tech and non - high - tech). This study not only provides empirical evidence on the impact of “Data + Finance” dual agglomeration on corporate economic resilience but also offers strategic guidance for enterprises to enhance resilience and address challenges in the digital economy era. It holds profound significance for promoting the deep integration of the digital economy with the real economy.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104233"},"PeriodicalIF":4.8,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Implementation of the Social Insurance Law, mismatch in investment and financing maturities, and corporate innovation 社会保险法的实施、投融资期限错配、企业创新

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-03 DOI: 10.1016/j.iref.2025.104255

Kun Qian, Shiyu Xu

引用次数: 0

Tourism prosperity and high-quality economic development 旅游业繁荣，经济高质量发展

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-03 DOI: 10.1016/j.iref.2025.104246

Meiyi Li , Yanmei Fan , Cheng Guo , Xiaokun Li

{"title":"Tourism prosperity and high-quality economic development","authors":"Meiyi Li , Yanmei Fan , Cheng Guo , Xiaokun Li","doi":"10.1016/j.iref.2025.104246","DOIUrl":"10.1016/j.iref.2025.104246","url":null,"abstract":"<div><div>This study investigates the multifaceted impact of tourism prosperity on high-quality economic development (HQED), advancing the literature beyond traditional growth paradigms by identifying direct, mediating, moderating, and heterogeneous effects. Using panel data from 30 Chinese provinces (2011–2022), we demonstrate that tourism prosperity significantly promotes HQED, even after accounting for endogeneity through instrumental variable, PSM, and Heckman selection models. Mediation analysis reveals that this relationship operates partly through industrial upgrading and infrastructure development, while the digital economy serves as a critical moderator that enhances tourism's transformative effects. Heterogeneity analyses further show that tourism's developmental impact is stronger in regions with higher social consumption, coastal provinces, and areas east of the Hu Huanyong Line—underscoring the importance of local market strength, regional infrastructure, and geographic accessibility. Conversely, the effects are more modest in low-consumption and inland regions, where economic absorptive capacity is weaker. These findings suggest that while tourism can act as a strategic lever for structural economic upgrading and quality growth, its effectiveness is conditional on regional characteristics. Tailored policy strategies that integrate tourism with local economic development, digitalization, and infrastructure planning are essential to fully realize its high-quality growth potential.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104246"},"PeriodicalIF":4.8,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Unveiling the effects of monetary surprises: Risk-taking and credit supply of U.S. banks 揭示货币意外的影响：美国银行的风险承担和信贷供应

IF 4.8 2区经济学

International Review of Economics & Finance Pub Date : 2025-06-03 DOI: 10.1016/j.iref.2025.104211

Melchisédek Joslem Ngambou Djatche

{"title":"Unveiling the effects of monetary surprises: Risk-taking and credit supply of U.S. banks","authors":"Melchisédek Joslem Ngambou Djatche","doi":"10.1016/j.iref.2025.104211","DOIUrl":"10.1016/j.iref.2025.104211","url":null,"abstract":"<div><div>We provide new evidence on how unexpected shifts in monetary policy — <em>monetary surprises</em> — influence U.S. banks' risk-taking behavior and credit supply. Unlike prior studies focusing on interest rate changes per se, we highlight that it is the deviation from expected policy paths that crucially drives banking behavior. Using a novel high-frequency measure of monetary surprise and a dynamic panel of 259 U.S. banks (2001–2018), we find that dovish surprises (lower-than-expected interest rates) foster bank soundness by reducing risk, while hawkish surprises increase banks’ risk-taking and dampen credit growth, especially household lending. Economically, monetary surprises affect banks through both profitability channels and balance sheet effects: unanticipated monetary tightening reduces capitalization and amplifies incentives to take risk. Our findings suggest that monetary policy surprises — even under regimes of high central bank transparency — remain potent drivers of bank behavior and financial stability risks. This work extends the monetary risk-taking literature by showing that not only the level of interest rates but the <em>unexpectedness</em> of monetary actions crucially affects banks, thereby advocating for closer integration of monetary and prudential policies.</div></div>","PeriodicalId":14444,"journal":{"name":"International Review of Economics & Finance","volume":"101 ","pages":"Article 104211"},"PeriodicalIF":4.8,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144231534","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0