China Economic Journal最新文献

{"title":"Digital transformation and corporate performance: evidence from China","authors":"Shiguang Li, Zheng Yang, Yixiang Tian","doi":"10.1080/17538963.2023.2254138","DOIUrl":"https://doi.org/10.1080/17538963.2023.2254138","url":null,"abstract":"ABSTRACT This study measures the enterprise digitalization index and investigates the relationship between digital transformation and corporate performance. The rapid development of digital technologies has transformed enterprise in significant ways. The main challenge in examining the impact of digital transformation is the lack of firm-level data. We use the method of text analysis to construct an enterprise digitalization index based on annual reports of listed companies in China during 2012–2018. We find that Enterprise digital transformation improves corporate performance. This holds in particular for non-state-owned firms and companies from service industries. Moreover, digital transformation enhances corporate performance by improving employee efficiency. The findings offer important policy implications for promoting digital economy in China.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"312 - 334"},"PeriodicalIF":3.3,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43894289","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}

{"title":"Impacts of population aging on the quantity and quality of pharmaceutical innovation: evidence from OECD countries","authors":"Ke Shen, Zhenyi Huang","doi":"10.1080/17538963.2023.2254144","DOIUrl":"https://doi.org/10.1080/17538963.2023.2254144","url":null,"abstract":"Against the backdrop of rapid population aging, we examine the impacts of population aging on pharmaceutical innovation based on the panel data of OECD countries between 1997 and 2018. We show that population aging effectively boosts the quantity and quality of pharmaceutical innovation before the share of older adults approaches 14%, the threshold for the aged society. Once the country enters the aged society, however, population aging is no longer associated with the quantity of pharmaceutical patents, and even significantly depresses the quality of patenting. Moreover, the type of welfare state regimes plays a notable moderating role. High welfare states could effectively amplify the positive effects of aging or attenuate the negative impacts of aging on pharmaceutical innovation. Our results suggest that the dividend of aging in pharmaceutical industry does exist in the early stage of aging, and the government needs to plan ahead to ameliorate the deterioration of innovation in aged and super-aged societies.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134969606","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}

{"title":"Digital economy and carbon emission reduction: evidence from China","authors":"Dong Feng, Yan Shen, Xuanli Xie, Yiping Huang","doi":"10.1080/17538963.2023.2244276","DOIUrl":"https://doi.org/10.1080/17538963.2023.2244276","url":null,"abstract":"ABSTRACT China confronts a challenging dilemma between environmental protection and economic development as it endeavors to achieve dual carbon goals. To discern a feasible developmental path, this paper designs a comprehensive index of the digital economy encompassing four dimensions: input, production, output, and consumption, conducts an empirical analysis to explore the relationship between the digital economy and carbon emissions by using a two-way fixed effect model with China’s provincial data from 2013 to 2019, and suggests that the digital economy can significantly reduce carbon emissions and carbon intensity. Public low carbon awareness and green innovation are mechanisms that mediate the association between the digital economy and carbon emissions. The carbon reduction effect varies across dimensions of the digital economy, regions, and sources of carbon emissions. These empirical findings provide valuable insights and policy implications to effectively achieve China’s dual carbon goals.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"272 - 301"},"PeriodicalIF":3.3,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41387807","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}

{"title":"Coordinated economic, energy and environment development across China from 2001 to 2020","authors":"Wen-Wen Zhang, B. Sharp, Bin Zhao, Yu Gu, Nan-Xi Fang, Yuetong Hu, Yang Ma, Xin-Chen Shi, Li-jun Liu, Sheng-Yue Li, Shu-xiao Wang, Ya-Zhou Liu","doi":"10.1080/17538963.2023.2250638","DOIUrl":"https://doi.org/10.1080/17538963.2023.2250638","url":null,"abstract":"ABSTRACT With the development of China’s economy, the contradiction between energy, economy and ecological environment is becoming more and more prominent. However, the spatial and temporal evolution of the contradiction system of energy, economy and environment all over China is rarely focused on. This study assesses the provincial coordinated degree of the economy-energy-environment system over the period of 2001–2020 and analyzes their spatial and temporal evolution using principal component analysis (PCA), a coordination degree model, non-parametric Kernel Density Estimation (KDE), and spatial correlation analysis approaches. Results show that provincial coordination degrees from 2001 to 2020 vary between ‘barely balanced’ and ‘superiorly balanced’ with an overall improvement. However, the gap between high and low regional coordination has widen, while middle-level provinces gradually increase and are distributed more evenly. Limited spatial correlation of provincial coordination exists and the clustering level slightly increases over 2001–2020. Additionally, some less-developed regions, which are still staying at the ‘intermediately balanced’ state in 2020, call for attention.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"241 - 255"},"PeriodicalIF":3.3,"publicationDate":"2023-08-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42790003","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}

{"title":"Macroeconomic implications of China’s dual carbon goals","authors":"Xiaobei He","doi":"10.1080/17538963.2023.2244280","DOIUrl":"https://doi.org/10.1080/17538963.2023.2244280","url":null,"abstract":"ABSTRACT The ‘dual carbon’ goals are set to reshape China’s industrial landscape and impact the economy as a whole. This paper briefly discusses the channels through which climate polices may affect the economic growth, and then provides a quantitative analysis of the economic impacts of China’s climate polices using a global dynamic CGE model. The simulation results of different policy scenarios suggest that climate policies will have negative impacts on China’s investment and export by raising the costs of prodcution, but the aggregate impact on China’s output will generally be mild. Nonetheless, other countries’ climate policies may have meaningful spillover effects on China’s economy through the trade channels and China should lead or participate in the international coordination on climate policies to be better placed to achieve the ‘dual carbon’ goals.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"302 - 311"},"PeriodicalIF":3.3,"publicationDate":"2023-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47587041","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}

{"title":"The heterogeneous effect of administrative level of cities on energy efficiency: a panel study of China","authors":"Daqian Shi, Kai-Chien Hu","doi":"10.1080/17538963.2023.2230403","DOIUrl":"https://doi.org/10.1080/17538963.2023.2230403","url":null,"abstract":"ABSTRACT Although the nexus between urbanization and energy efficiency has been evidenced at the macro level, we have less knowledge about the effects of administrative level of cities on energy efficiency. Understanding this impact mechanism is necessary to achieve goals of energy conservation and sustainable development. We estimate the relationship between the administrative level of cities and energy efficiency in China by adopting the province-level fixed-effect models from a panel dataset. The empirical findings present that energy efficiency of capital cities is 0.46 (95% Confidence Interval: −0.713, −0.206) lower than that of general cities. Moreover, these effects of administrative level are more substantial in underdeveloped cities. These findings suggest that more political sources and autonomy in the higher-level cities might lead to low energy efficiency.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"256 - 271"},"PeriodicalIF":3.3,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47584519","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}

{"title":"Introduction by the guest editor","authors":"Jintao Xu","doi":"10.1080/17538963.2023.2253630","DOIUrl":"https://doi.org/10.1080/17538963.2023.2253630","url":null,"abstract":"Papers in this special issue are works resulted from a research project organized at the National School of Development, Peking University, and sponsored by the Energy Foundation (China). The motivation of these works is simple: Climate change in China has been evolving over time as a diplomatic issue, a scientific issue and a political issue. As China adopts a ‘Dual Carbon’ goal for the future four to five decades, it has become a major economic issue as it is at the core of China’s economic growth pattern change and will be the deciding factor in allocating economic resources for the society in near to mid-term future. The tremendous importance of the ‘Dual Carbon’ goals on China’s economic development path calls for greater analytical efforts from mainstream economists. What will be true cost of climate change on Chinese society? What is the size of economic resource needed to achieve the ‘Dual Carbon’ goal as conforming to the international community’s common pursuits toward 1.5 degree control target? Will climate action be synergic to China’s other socio-economic goals, such as poverty alleviation, healthy aging society, etc.? What kind of structural changes are needed to reduce carbon emissions in the most efficient and effective way? What are the implications of energy transition? On energy security? On employment? On cost of the transition and burden sharing? What kind of carbon removal technology is viable to provide low-cost offset to the remaining carbon emitted around 2060? What kind of policy mix should be in place to ensure long-term and steady change in the economy toward the accomplishment of the ‘Dual Carbon’ goals? These questions must be answered by the best economists that China has. The National School of Development (NSD) of Peking University is the top think tank in China basing its work on modern economic theory and methodology. It has built an international reputation in the studies of labor, health, digital, political and development, as well as environmental and energy economics. This project features contributions from NSD’s leading economists who used to focus on labor and health issues, digital economy, political economy and all important aspects of energy and climate economics. They use diversified tools to address their respective questions and have produced diversified and insightful outcomes for this project. In total 13 very interesting papers have been produced. This special issue selects six papers, only half of the works out of the project, due to the size limitation of one issue of the journal. In this selection, we try to first limit the general scope to more basic side of climate change economics, namely the understanding of","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"92 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135011229","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}

{"title":"Development of the electric vehicle industry in China","authors":"Jianwei Xing, Xiyuan Liu, Yushuai Zhang","doi":"10.1080/17538963.2023.2244279","DOIUrl":"https://doi.org/10.1080/17538963.2023.2244279","url":null,"abstract":"ABSTRACT The electrification of the transportation sector is a pivotal strategy to curb carbon emissions from traditional fossil fuel-powered vehicles. China, the world’s largest electric vehicle (EV) market, leads this transformative shift. This paper aims to unravel the past decade’s development story of the EV industry in China. We first provide a comprehensive overview of the EV development trend in China, including analysis of market structures, regional development variations, technology advancements, and the development of the essential infrastructure. We then summarize the different forms of subsidy programs, both monetary and non-monetary, designed to promote EV at both central and local levels, and evaluate the effectiveness of these programs and their contribution to reducing carbon emissions. We conclude by highlighting key aspects that could enhance the efficiency of subsidy programs and further propel the development of the EV industry.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"139 - 184"},"PeriodicalIF":3.3,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48036934","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}

{"title":"Carbon emission trading systems: a review of systems across the globe and a close look at China’s national approach","authors":"Xianling Long, L. Goulder","doi":"10.1080/17538963.2023.2246714","DOIUrl":"https://doi.org/10.1080/17538963.2023.2246714","url":null,"abstract":"A carbon emission trading system (ETS) is a market-based policy instrument to combat climate change. It internalizes the societal cost of carbon dioxide (CO2) emissions and thereby creates incentives for emission reductions through changes in production methods and levels of production as well as investments in low-carbon technologies. ETSs are an important and much-employed alternative to emissions taxes (such as a carbon tax) as an instrument for bringing about reductions in CO2 emissions. Under an emissions tax, the government sets the price of a unit of emissions – this is the tax rate – and the quantity of emissions is determined by the market, that is, by firms’ and consumers’ responses to the tax. In contrast, under an ETS, the government influences emissions through its decisions affecting the number of emissions allowances to be allocated to firms; the price of emissions is determined by the market, not directly by the government. A key feature of an ETS is the provision for allowance trading. If the market price of emissions allowances is below a firm’s marginal cost of reducing its emissions, a competitive firm will have an incentive to purchase additional allowances and thereby avoid some of the cost of reducing its emissions. The reverse is the case for a firm for which the market price of allowances is above its marginal cost of abatement. In the presence of allowance trading, the firm’s ultimate (end-of-period) allocation of allowances, plus (minus) any allowances it purchases (sells) on the trading market, must be at least enough to justify its emissions during the period. The price of allowances is an equilibrium outcome of the allowance supply and demand. Allowance trading helps reduce the economy-wide costs of achieving emissions reductions by bringing about more abatement by the facilities that can do so at lower cost.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"203 - 216"},"PeriodicalIF":3.3,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41372542","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}

{"title":"Carbon neutrality and renewable energy development in China","authors":"F. Song, Ao Sun","doi":"10.1080/17538963.2023.2245515","DOIUrl":"https://doi.org/10.1080/17538963.2023.2245515","url":null,"abstract":"ABSTRACT Building a new type of power system with wind and solar as the dominant body of sources is expected to play the key role for China to achieve carbon neutrality. Transiting from the fossil fuel dominating power system to a renewable dominating system requires both the technology progress and the institutional changes. The total direct investment cost of China’s power system decarbonization is estimated to be about 67.6 trillion yuan, which consists of new wind and solar power capacity, energy storage facilities, and transmission lines. The electricity storage technology is the key factor to affect the transitional costs. Meanwhile, institutional changes are needed to adapt to the high penetration of wind and solar to cope with the new challenges the renewable brings, namely the flexibility, adequacy and affordability. China’s market-oriented reform should move to the direction of establishing a real unified national market system to achieve the integration of high percentage of renewables.","PeriodicalId":45279,"journal":{"name":"China Economic Journal","volume":"16 1","pages":"121 - 138"},"PeriodicalIF":3.3,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45249038","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}