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Precautionary savings and rural-to-urban migration: Evidence from Chinese hukou status 预防性储蓄与农村向城市迁移:来自中国户口状况的证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-27 DOI: 10.1111/ecot.12368
Guowen Chen, Stephen B. DeLoach, T. M. Tonmoy Islam
{"title":"Precautionary savings and rural-to-urban migration: Evidence from Chinese hukou status","authors":"Guowen Chen,&nbsp;Stephen B. DeLoach,&nbsp;T. M. Tonmoy Islam","doi":"10.1111/ecot.12368","DOIUrl":"10.1111/ecot.12368","url":null,"abstract":"<p>Rural-to-urban migrants account for more than one-third of the total population in China. However, because of China's hukou system, urban migrants can have limited access to different public services in urban areas. Consequently, this can affect their consumption and savings behaviour. However, little is known about how the hukou system changes migrants' allocation of savings across different savings instruments. In this study, we utilize the 2013 round of the Urban and Rural Residents Income Distribution and Living Conditions Survey of China to see if migrants' hukou status affects allocation between short-term and long-term assets. Propensity score matching is used to match migrants with migrants who have obtained urban hukou. When comparing the urban migrants having rural hukou with hukou holders who converted their hukou from rural to urban, we find that the migrants hold significantly higher proportions of savings in cash and other short-term assets. Those who have obtained urban hukou, appear to hold a greater share of their portfolio in long-term, higher returning assets. The differences in portfolio allocations appear to be larger for migrants with lower household income. We argue that these results are consistent with savings behaviour driven by a precautionary motive.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1215-1233"},"PeriodicalIF":0.9,"publicationDate":"2023-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44786285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Foreign direct investment and relative capacity: Theory and evidence 外国直接投资与相对能力：理论与证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-26 DOI: 10.1111/ecot.12369
Jen-Chung Mei
{"title":"Foreign direct investment and relative capacity: Theory and evidence","authors":"Jen-Chung Mei","doi":"10.1111/ecot.12369","DOIUrl":"https://doi.org/10.1111/ecot.12369","url":null,"abstract":"<p>This paper builds a bilateral FDI-output model to study intermediary roles played by the relative differences in human capital and technology in triggering the gross-output-enhancing effect of inward foreign direct investment (FDI). Our model develops several testable hypotheses to assess how these intermediary factors—the differences between leader and follower countries' capabilities—determine the technology transfer and shorten the gross output gap between the frontier and follower countries. In our empirical work, we employ country-level panel data that contain 67 countries from 1977 to 2013 and find that the differences in human capital and technology, which take into account the gap in capacity between the leader and follower countries, are the determinants that trigger the gross-output-enhancing effect of FDI. Our results are robust to the non-linear effects, cyclical fluctuations, endogeneity of FDI per se, and the variation of the host countries' institutions and inflation.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1175-1214"},"PeriodicalIF":0.9,"publicationDate":"2023-04-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/ecot.12369","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50154459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
‘Going global’ and pollution in home country: Evidence from Chinese industrial firms “走出去”与国内污染:来自中国工业企业的证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-23 DOI: 10.1111/ecot.12370
Xi Lin, Ling‐Yun He
{"title":"‘Going global’ and pollution in home country: Evidence from Chinese industrial firms","authors":"Xi Lin, Ling‐Yun He","doi":"10.1111/ecot.12370","DOIUrl":"https://doi.org/10.1111/ecot.12370","url":null,"abstract":"","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"1 1","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"62958435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
‘Going global’ and pollution in home country: Evidence from Chinese industrial firms “走出去”与本土污染：来自中国工业企业的证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-23 DOI: 10.1111/ecot.12370
Xi Lin, Ling-Yun He
{"title":"‘Going global’ and pollution in home country: Evidence from Chinese industrial firms","authors":"Xi Lin,&nbsp;Ling-Yun He","doi":"10.1111/ecot.12370","DOIUrl":"https://doi.org/10.1111/ecot.12370","url":null,"abstract":"<p>The relationship between international investment and the environment is always concerned around the world, but the literature mainly focuses on the impact of foreign direct investment (FDI) (especially from developed countries to developing countries). Currently, many developing countries have regarded outward foreign direct investment (OFDI) as a critical task of economic development and encourage firms to ‘Going global’. After OFDI, how do firms' pollution emissions change? In this study, we employ the data of Chinese industrial firms to empirically answer this question. In particular, we combine inverse probability weighted matching with a difference-in-difference approach to identify the causal effect of OFDI on firm-level pollution emissions. Our result indicates that OFDI leads to the reduction in both emission intensity and emission levels. This pollution reduction is driven by improving abatement technology and decreasing energy intensity. It potentially implies that OFDI reduces pollution emissions mainly through the ‘reverse technology spillover’ effect rather than ‘pollution transfer’ effect. In addition, pollution reductions caused by OFDI are prominent for local production OFDI and resource exploitation OFDI, OFDI to high-income countries as well as capital-intensive industries. Overall, this study not only provides an initial evidence for the relationship between OFDI and the environment at the firm level but also provides enlightenments for international investment and sustainable development.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1135-1174"},"PeriodicalIF":0.9,"publicationDate":"2023-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50153495","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Sustainable growth through industrial robot diffusion: Quasi-experimental evidence from a Bartik shift-share design 通过工业机器人扩散实现可持续增长：Bartik转移份额设计的准实验证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-20 DOI: 10.1111/ecot.12367
Qingyang Wu
{"title":"Sustainable growth through industrial robot diffusion: Quasi-experimental evidence from a Bartik shift-share design","authors":"Qingyang Wu","doi":"10.1111/ecot.12367","DOIUrl":"10.1111/ecot.12367","url":null,"abstract":"<p>While the diffusion of industrial robots has had a significant impact on the economy and society, more research is needed to understand how robots contribute to sustainable growth. This study uses paired data on China's county-level carbon emissions and industrial robot installations from 2008 to 2017, employing a Bartik shift-share instrumental variable design to estimate the economic and sustainable effects of industrial robot diffusion. The study finds that industrial robots significantly promote economic growth and contribute to carbon emission reduction as confirmed by robust IV 2SLS and general PSM-DID methods. Additionally, a heterogeneity analysis shows that industrial robots have a stronger impact on sustainable growth in underdeveloped and small-medium cities, especially in low-skilled industries. Finally, the study identifies industrial structural change, clean energy use, and improved productivity and innovation as key factors that mediate the impact of industrial robots on sustainable development.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1107-1133"},"PeriodicalIF":0.9,"publicationDate":"2023-04-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47043435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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: 4
When patients have better insurance coverage in China: Provider incentives, costs, and quality of care 当患者在中国有更好的保险覆盖范围时：提供者激励、成本和护理质量
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-10 DOI: 10.1111/ecot.12365
Mengna Luan, Wenjing Shi, Zhigang Tao, Hongjie Yuan
{"title":"When patients have better insurance coverage in China: Provider incentives, costs, and quality of care","authors":"Mengna Luan,&nbsp;Wenjing Shi,&nbsp;Zhigang Tao,&nbsp;Hongjie Yuan","doi":"10.1111/ecot.12365","DOIUrl":"10.1111/ecot.12365","url":null,"abstract":"<p>This paper uses a patient discharge dataset from China to study whether and how medical expenses increase for those patients who have better insurance coverage. It uncovers consistent increases in total medical expenses and across each of the three broad categories of expenses (prescription drug expenses, diagnostic test expenses, and other service expenses), no improvement in the quality of care delivered. These increases in expenses can be attributed to patients, physicians, or both. The study provides evidence that physicians' financial incentives play an important role in inducing the increase in medical expenses and that physicians' workload level affects the role of their financial incentives.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1073-1106"},"PeriodicalIF":0.9,"publicationDate":"2023-04-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48040597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Does it pay off to invest in bank staff training? Survey-based evidence from an emerging market banking sector 投资银行员工培训有回报吗？来自新兴市场银行业的调查证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-04 DOI: 10.1111/ecot.12366
Angela Pîslaru, Matei Kubinschi, Florian Neagu
{"title":"Does it pay off to invest in bank staff training? Survey-based evidence from an emerging market banking sector","authors":"Angela Pîslaru,&nbsp;Matei Kubinschi,&nbsp;Florian Neagu","doi":"10.1111/ecot.12366","DOIUrl":"10.1111/ecot.12366","url":null,"abstract":"<p>We explore the role of staff training and experience for banks' efficiency and profitability, while accounting for size, solvency, liquidity and business model of the banking sector. We try answering two questions: (i) are banks with higher levels of staff training and experience more efficient and profitable and (ii) do banks that spend more to increase the quality of their staff have better outcomes in terms of NPLs, in case of a downturn? We use two novel sources of microdata from a one-off survey about banks' HR policies and a database on banks' balance sheets and P&amp;Ls regarding the Romanian banking sector. We apply the Data Envelopment Analysis (DEA) approach to estimate production frontiers and rank banks by cost and income efficiency. Our main findings support the conclusion that it pays off to invest more in the quality of bank staff, from both risk management and revenue efficiency perspectives.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1055-1072"},"PeriodicalIF":0.9,"publicationDate":"2023-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41401826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Investment policy reform as a driver of foreign direct investment: Evidence from China 投资政策改革对外国直接投资的推动作用:来自中国的证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-04-03 DOI: 10.1111/ecot.12364
Markus Leibrecht, Christian Bellak
{"title":"Investment policy reform as a driver of foreign direct investment: Evidence from China","authors":"Markus Leibrecht,&nbsp;Christian Bellak","doi":"10.1111/ecot.12364","DOIUrl":"10.1111/ecot.12364","url":null,"abstract":"<p>A longstanding concern has been the proposition that the international investment treaty system lacks reform. Governments forgo Foreign Direct Investment (FDI) and thus forgo a driver of economic growth, employment and innovation. We assess the validity of this concern in the context of a major home and host country for global foreign direct investment, China, and the major reform of its Bilateral Investment Treaties (BITs). Besides other innovations, the so-called ‘third-generation’ BITs of China introduce a strong dispute resolution mechanism, which makes Chinese BITs more investor-friendly. Our evidence suggests that more investor-friendly BITs exert a positive impact on FDI in China. We argue that the positive impact of reforming BITs in a country like China, which offers a high degree of stability of the legal and political system and a strong culture of informal dispute resolution, points towards the relevance of the enforceability of property rights for investments.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1035-1053"},"PeriodicalIF":0.9,"publicationDate":"2023-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43872402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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 effects of India's bilateral investment treaties termination on foreign direct investment inflows 印度双边投资条约终止对外国直接投资流入的影响
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-03-28 DOI: 10.1111/ecot.12363
Elena Kotyrlo, Hryhorii M. Kalachyhin
{"title":"The effects of India's bilateral investment treaties termination on foreign direct investment inflows","authors":"Elena Kotyrlo,&nbsp;Hryhorii M. Kalachyhin","doi":"10.1111/ecot.12363","DOIUrl":"10.1111/ecot.12363","url":null,"abstract":"<p>India initiated the unilateral mass termination of bilateral investment treaties (BIT termination) in 2016. We consider it a natural experiment to clarify the issue of whether BITs attract foreign direct investment (FDI) to a developing country. We evaluate the effect of BIT termination on the FDI inflows using the double and triple difference approaches (DD and DDD) and the synthetic control (SCM) methods. Our study finds that BIT termination led to a significant decrease in FDI inflows from the country with which India terminated the agreement. Thus, the study confirms that BIT is an essential mechanism for attracting FDI.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"1007-1033"},"PeriodicalIF":0.9,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46880255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
Association between state ownership participation and the performance of private firms: Evidence from China 国有股权参与与民营企业绩效的关联——来自中国的证据
IF 0.9 4区 经济学
Economics of Transition and Institutional Change Pub Date : 2023-03-02 DOI: 10.1111/ecot.12362
Feng Niu, Liuzhen Zhang, Wunhong Su
{"title":"Association between state ownership participation and the performance of private firms: Evidence from China","authors":"Feng Niu,&nbsp;Liuzhen Zhang,&nbsp;Wunhong Su","doi":"10.1111/ecot.12362","DOIUrl":"10.1111/ecot.12362","url":null,"abstract":"<p>The mixed ownership reform aims to improve the performance of firms, which is important for optimizing the overall economic layout and promoting firms to sustainable development. Therefore, an important issue is whether state ownership participation in private firms improves their performance in the context of the mixed ownership reform. This study investigates whether and how state ownership participation affects the performance of private firms using Chinese listed private firms from 2010 to 2020. The results of this study indicate that state ownership participation significantly eliminates the performance of private firms. Further results show that there is a U-shaped relationship between the mixed ownership model and the performance of private firms. At the same time, firm transparency and financing constraints play a negative moderating role in the relationship between the mixed ownership model and the performance of private firms. The findings of this study enrich the literature on factors influencing the performance of private firms, provide empirical evidence for mixed ownership reforms in China, and further reveal the characteristics of Chinese accounting practices and the logical rules behind the operation of these practices.</p>","PeriodicalId":40265,"journal":{"name":"Economics of Transition and Institutional Change","volume":"31 4","pages":"979-1006"},"PeriodicalIF":0.9,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46529845","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"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
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