Economic Change and Restructuring最新文献_第5页

The moderating role of financial development in the nexus between population aging and saving 金融发展在人口老龄化与储蓄关系中的调节作用

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-20 DOI: 10.1007/s10644-024-09670-5

Dong-Hyeon Kim, Peiyao Liu, Shu-Chin Lin

{"title":"The moderating role of financial development in the nexus between population aging and saving","authors":"Dong-Hyeon Kim, Peiyao Liu, Shu-Chin Lin","doi":"10.1007/s10644-024-09670-5","DOIUrl":"https://doi.org/10.1007/s10644-024-09670-5","url":null,"abstract":"<p>The paper empirically investigates the saving consequence of population aging, an issue that is important for policymaking and still far from uncontroversial. Rather than providing another piece of evidence to verify the positive or negative correlation between population aging and saving, the contribution of the paper is to consider the moderating role of financial development in the nexus. In a cross-country panel data setting, we find that population aging proxied by old-age dependency decreases saving, but the effect diminishes with financial development. The opposite is found for life expectancy. Financial development weakens the saving-increasing effect of life expectancy. The findings hold for different types of saving and controlling for per-capita income growth. The data suggest that life expectancy may offset the effect of old-age dependency, limiting the influence of population aging on saving. The evidence also suggests that financial development constrains the saving effect of population aging and the need to consider a country’s extent of financial development to address the saving consequence as a population ages.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"123 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140197649","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Energy transition and the role of circular supply chains: toward resource efficiency and sustainable economic practices 能源转型和循环供应链的作用：实现资源效率和可持续经济实践

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-13 DOI: 10.1007/s10644-024-09655-4

Liang Cheng

{"title":"Energy transition and the role of circular supply chains: toward resource efficiency and sustainable economic practices","authors":"Liang Cheng","doi":"10.1007/s10644-024-09655-4","DOIUrl":"https://doi.org/10.1007/s10644-024-09655-4","url":null,"abstract":"<p>This study examines the various complex elements essential for shifting toward a circular economy (CE). Panel data from 27 European Union (EU) countries and the UK are utilized for this purpose. This research investigates the convergence of socioeconomic, environmental, institutional, and demographic elements, specifically focusing on the environmental deterioration, inequity, and asymmetry that have been exacerbated in the three years since the COVID-19 pandemic (2019–2022). Concurrently, the lack of energy in the Eurozone poses significant obstacles to the cohesiveness of society and the successful execution of (C.E) policy. The main objective of this study is to thoroughly examine how the circular economy is impacted by innovation, population density, changes in the structure of the energy market, environmental sustainability, institutional efficacy, and social safety nets. Results indicate a strong and favorable relationship between involvement in circular economy projects and attributes including resource efficiency, entrepreneurial endeavors, and institutional quality. The analysis findings suggest a positive correlation between the level of social protection provided to the populace and their propensity to adopt CE principles. Currently, EU member states rely more on raw materials than they can recycle. It is also crucial to emphasize that a mere 1% increase in the market dominance of the top producers of natural gas and electricity is associated with a corresponding drop in the circularity rate of 0.33% and 0.30%, respectively. These results suggest that uneven competition in the energy markets may jeopardize EU member states' efforts to collect garbage for recycling.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"52 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140150888","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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 banking sector support for achieving the sustainable development goals affect bank loan loss provisions? International evidence 银行业对实现可持续发展目标的支持会影响银行贷款损失准备金吗？国际证据

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-11 DOI: 10.1007/s10644-024-09659-0

Peterson K. Ozili

{"title":"Does banking sector support for achieving the sustainable development goals affect bank loan loss provisions? International evidence","authors":"Peterson K. Ozili","doi":"10.1007/s10644-024-09659-0","DOIUrl":"https://doi.org/10.1007/s10644-024-09659-0","url":null,"abstract":"<p>This study investigates whether banking sector support for the realization of the SDGs affects bank loan loss provisions (LLPs). Using country-level data for 28 countries from 2011 to 2018 and using the panel fixed effect regression estimation method, it was found that banking sector support for achieving SDG7 and SDG10 leads to a significant decrease in bank loan loss provisions. Banks that support the realization of SDG6, and operate in countries that have strong institutions, experience a significant decrease in LLPs while banks that support the realization of SDG7, and operate in countries that have strong institutions, experience a significant increase in LLPs. The regional results are mixed. In the Asian region, banking sector support for achieving SDG13 decreases bank LLPs while banking sector support for achieving SDG8 and SDG10 increases bank LLPs. In the European region, banking sector support for achieving SDG3 decreases bank LLPs while banking sector support for achieving SDG4 and SDG6 increase bank LLPs. In the African region, banking sector support for achieving SDG6 increases bank LLPs.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"125 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140097445","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Fostering sustainability: integrating social responsibility, green finance, and corporate performance 促进可持续发展：整合社会责任、绿色金融和企业绩效

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-11 DOI: 10.1007/s10644-024-09656-3

{"title":"Fostering sustainability: integrating social responsibility, green finance, and corporate performance","authors":"","doi":"10.1007/s10644-024-09656-3","DOIUrl":"https://doi.org/10.1007/s10644-024-09656-3","url":null,"abstract":"<h3>Abstract</h3> <p>This study delves into the interrelationship between corporate social responsibility (CSR) and green finance, investigating their collective impact on corporate performance through a comprehensive survey spanning various industries, business years, and company sizes. Advanced analytical tools, including SmartPLS and SPSS Impact, were employed in this research. The findings highlight that green finance significantly influences CSR performance, elucidating the specific mechanism of this relationship through path analysis and neural network analysis. The results indicate that the implementation of green finance not only facilitates the fulfillment of corporate social responsibilities but also yields positive effects by enhancing corporate brand value, thereby improving customer satisfaction and fostering employee loyalty. This revelation signifies a novel paradigm for enterprise development, accentuating the integration of economic profitability, social responsibility, and environmental protection. Such an approach not only assists companies in establishing a positive brand image but also propels sustainable development and fosters common interests.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"26 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140097252","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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

Unraveling the interplay of financial inclusion, stability, and shadow banking in emerging markets 解读新兴市场中金融包容性、稳定性和影子银行的相互作用

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-08 DOI: 10.1007/s10644-024-09657-2

{"title":"Unraveling the interplay of financial inclusion, stability, and shadow banking in emerging markets","authors":"","doi":"10.1007/s10644-024-09657-2","DOIUrl":"https://doi.org/10.1007/s10644-024-09657-2","url":null,"abstract":"<h3>Abstract</h3> <p>This paper fills the momentous gap by explicitly investigating the interplay of financial inclusion, financial stability, and shadow banking in 11 emerging market economies (EMEs) from 2010 to 2021. Employing panel quantile regression approaches, including simultaneous bootstrapped quantile regression and generalized quantile regression, the results indicate that while financial inclusion has a negative impact on financial stability, its impact is less pronounced in countries with high stability. Moreover, shadow banking, whether broadly or narrowly defined, tends to weaken the negative effects of financial inclusion, particularly in EMEs with medium and high levels of financial stability. Finally, Dumitrescu–Hurlin's panel causality test confirms bidirectional causality between financial stability and financial inclusion, financial stability and shadow banking, as well as financial inclusion and shadow banking. These findings highlight the need for policymakers in EMEs to prudently adjust shadow banking regulations to maximize their positive impact on financial inclusion and stability while concurrently minimizing potential risks.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"133 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140072101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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 energy utility investment role in energy transformation progress: case of Mongolia 可持续能源公用事业投资在能源转型进展中的作用：蒙古案例

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-08 DOI: 10.1007/s10644-024-09660-7

Huimin Jia, Yanqiu Wu

引用次数: 0

Technology adoption, innovation policy and catching-up. 技术采用、创新政策和赶超。

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-06 DOI: 10.1007/s10644-024-09644-7

Juan R. Perilla Jiménez, Thomas H. W. Ziesemer

引用次数: 0

Tailoring social welfare and energy transition for an aging population 为老龄化人口定制社会福利和能源转型

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-05 DOI: 10.1007/s10644-024-09634-9

Li’ao Song, Cheng Jin

引用次数: 0

Economic integration through renewable energy and digital currency in RCEP 通过 RCEP 中的可再生能源和数字货币实现经济一体化

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-05 DOI: 10.1007/s10644-024-09646-5

Wen Jiayu, Zehao Wang

引用次数: 0

How does central enterprise reform promote total factor productivity of defense firms in China? 央企改革如何促进中国国防企业的全要素生产率？

IF 3.1 3区经济学

Economic Change and Restructuring Pub Date : 2024-03-02 DOI: 10.1007/s10644-024-09643-8

Huaijia Zhu, Bo Chen, Huaiqi Zhu

{"title":"How does central enterprise reform promote total factor productivity of defense firms in China?","authors":"Huaijia Zhu, Bo Chen, Huaiqi Zhu","doi":"10.1007/s10644-024-09643-8","DOIUrl":"https://doi.org/10.1007/s10644-024-09643-8","url":null,"abstract":"<p>Since 2017, the reform of central state-owned enterprises (SOEs) in China has had a profound impact on the operations and development of military-industrial enterprises. To study the influence of SOE reform on the total factor productivity (TFP) of China's state-owned military-industrial listed enterprises, this study uses a difference-in-differences model to conduct empirical tests. Its sample consists of relevant data from 115 military-industrial listed enterprises from 2011 to 2021. The results show that SOE reform has effectively improved the TFP of state-owned military-industrial listed enterprises. Furthermore, through heterogeneity testing, it was found that government subsidies weakened the impact of SOE reform on the TFP of military-industrial enterprises. Stock incentives had a greater impact on TFP than mergers and acquisitions. In similar conditions, motivating employees was more conducive to improving operational efficiency. The mechanism by which SOE reform affects the TFP of military-industrial enterprises is reflected in decreased agency costs and improving governance efficiency. The empirical results confirm the positive role of SOE reform and have certain enlightening significance for how to implement a scientific and reasonable subsidy system as well as how to design more effective reform measures.</p>","PeriodicalId":46127,"journal":{"name":"Economic Change and Restructuring","volume":"43 1","pages":""},"PeriodicalIF":3.1,"publicationDate":"2024-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140018791","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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