Growth and Change最新文献

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Does Economic Policy Uncertainty Inhibit or Promote Firm Financialization? New Perspective on Financial Motivation 经济政策的不确定性是抑制还是促进企业金融化?金融动机的新视角
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-08 DOI: 10.1111/grow.70066
Yanwei Lyu, Zewei Zhang, Yangyang Bai, Jinning Zhang
{"title":"Does Economic Policy Uncertainty Inhibit or Promote Firm Financialization? New Perspective on Financial Motivation","authors":"Yanwei Lyu,&nbsp;Zewei Zhang,&nbsp;Yangyang Bai,&nbsp;Jinning Zhang","doi":"10.1111/grow.70066","DOIUrl":"https://doi.org/10.1111/grow.70066","url":null,"abstract":"<div>\u0000 \u0000 <p>From the perspective of financialization motivation, this study empirically investigates the impact and mechanism of economic policy uncertainty on firm financialization using data from China's A-share listed firms from 2010 to 2021. The results show that economic policy uncertainty has a positive effect on firm financialization, and the effect is more significant when uncertainty is high. Moreover, economic policy uncertainty promotes firm financialization by enhancing the “precautionary saving” motivation and inhibits firm financialization by alleviating the “profit chasing” motivation, and the “precautionary saving” motivation has a greater impact. Both financing constraints and executive financial experience play a positive moderation role. And there is heterogeneity in financial asset categories and marketization degree.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145271989","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
Unveiling Growth in Nearshoring Regions 揭示近岸地区的增长
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-07 DOI: 10.1111/grow.70053
Roberta Capello, Roberto Dellisanti
{"title":"Unveiling Growth in Nearshoring Regions","authors":"Roberta Capello,&nbsp;Roberto Dellisanti","doi":"10.1111/grow.70053","DOIUrl":"https://doi.org/10.1111/grow.70053","url":null,"abstract":"<p>During recent new challenges, like economic crises, the global pandemic, Ukraine-Russia and Middle East conflicts, Global Value Chains (GVCs) have shown their fragility and vulnerability, prompting authorities to advocate nearshoring for greater security and efficiency. Nearshoring, defined in this paper at the macroeconomic level as a production process of a region which uses again a greater share of foreign inputs produced by neighboring EU regions, appears to be an effective process for preserving the benefits of global production while simultaneously reducing the risks of supply chain disruptions inherent to long-distance offshoring. However, understanding its macroeconomic impact is complex, especially at the regional level. Thanks to an operational definition of nearshoring regions, the study identifies nearshoring regions in Europe and examines the growth premium that these regions gain from this form of GVCs reorganisation using interregional IO trade data. Results are clear. Benefits in terms of growth only arise in those nearshoring regions able to impose favorable terms-of-trade, through command-and-control functions. The geographical selectivity of growth premium from nearshoring risks to exacerbate interregional inequalities.</p>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/grow.70053","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145271697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Unlocking Regional Economic Resilience With Technological Network Robustness: Evidence From China 用技术网络稳健性解锁区域经济弹性:来自中国的证据
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-07 DOI: 10.1111/grow.70065
Xinyu Yan, Hua Xing, Qiliang Mao
{"title":"Unlocking Regional Economic Resilience With Technological Network Robustness: Evidence From China","authors":"Xinyu Yan,&nbsp;Hua Xing,&nbsp;Qiliang Mao","doi":"10.1111/grow.70065","DOIUrl":"https://doi.org/10.1111/grow.70065","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper elaborates a view on technological network robustness as a capability related to knowledge recombination in times of shocks, so as to explore its effects on regional economic resilience. Based upon panel analyses of technological co-occurrence networks of Chinese prefectures following the 2008–2009 financial crisis, we find that: (1) regions with robust technological networks perform better in economic resilience; (2) the underlying causal mechanism of this positive effect is that robust technological networks, characterized by homogeneously distributed betweenness centrality among nodes, mitigates the risk of regional knowledge connection disruptions during shocks, thereby enhancing the region's ability to develop new growth paths.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145271696","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
Regional Determinants of Product Innovations in Start-Ups Across Urban and Rural Regions in Germany 德国城乡初创企业产品创新的区域决定因素
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-07 DOI: 10.1111/grow.70056
Blom Meijering, Torsten Schunder
{"title":"Regional Determinants of Product Innovations in Start-Ups Across Urban and Rural Regions in Germany","authors":"Blom Meijering,&nbsp;Torsten Schunder","doi":"10.1111/grow.70056","DOIUrl":"https://doi.org/10.1111/grow.70056","url":null,"abstract":"<p>In this study, we examine how region-level determinants, measured through entrepreneurial ecosystem (EE) elements, influence product innovation in high-tech start-ups differently across urban and rural regions in Germany. This study contributes to the scientific debate by integrating the EE concept into the regional innovation literature, uncovering whether and how regional conditions shape product innovations in start-ups differently in different locations. We differentiate between incremental and radical product innovations using firm-level data from the IAB/ZEW Start-up Panel during 2007–2014. The findings show that while certain region-level determinants may facilitate or hinder innovation, their impact varies depending on the type of region. Policies aimed at fostering product innovations in high-tech start-ups should be aligned with this.</p>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/grow.70056","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145271695","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Why Is It Possible for China to Reduce Its Dependence on Land Expropriation? An Analysis on the Land-Expropriation Kuznets Curve 中国为什么有可能减少对征地的依赖?土地征收库兹涅茨曲线分析
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-06 DOI: 10.1111/grow.70063
Yang Liu, Siliang Wang
{"title":"Why Is It Possible for China to Reduce Its Dependence on Land Expropriation? An Analysis on the Land-Expropriation Kuznets Curve","authors":"Yang Liu,&nbsp;Siliang Wang","doi":"10.1111/grow.70063","DOIUrl":"https://doi.org/10.1111/grow.70063","url":null,"abstract":"<div>\u0000 \u0000 <p>Although the growth in developing countries have always been accompanied by large-scale land expropriation, whether there is a standard relationship between the scale of land expropriation and the stage of economic development remains unclear. This paper aims to explore the practice of land expropriation in China, and while there are polarized views around its role in economic growth, inter-provincial differences also mean that it is an excellent sample for clarifying the relationship. By exploring the growth coalition consisting of local bureaucracies, central government and peasants within the land-centered development model, the possible inverted U-shaped trend of land expropriation scale with economic development is theoretically analyzed, from which hypotheses on the Land-expropriation Kuznets Curve (LKC) are proposed. Further, using Chinese provincial panel data, the results not only show the invert-U shaped relationship between economic development and land expropriation and its regional heterogeneity, but also identify four determinants of dependence on land expropriation: internal demands of local bureaucracies to advance urban infrastructure, real estate and manufacturing sectors, horizontal competition among local bureaucracies, vertical supervision by the central government, and external forces from peasants. These conditions combine to expand the scale of land expropriation in the less developed period, leading to the phenomenon of land expropriation dependence. However, with the transformation of China's economic growth and development model, changes in above-mentioned various conditions have made it possible to reduce land expropriation dependence, and the reduction typically occurs when GDP per capita exceeds 50,000 RMB. This paper provides a new perspective for understanding China's land-centered development story based on the Growth Machine Theory and generates policy implications for the land management practices in other developing countries.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145271860","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
A Social Approach to Environmental Sustainability: The Nexus Well-Being, Tourism, Digitalization and Renewable Energy in Scandinavian Countries 环境可持续发展的社会途径:斯堪的纳维亚国家的幸福、旅游、数字化和可再生能源的联系
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-03 DOI: 10.1111/grow.70062
Cem Işık, Serdar Ongan, Buket Aydın, Rahman Aydın, İlyas Kays İmamoğlu
{"title":"A Social Approach to Environmental Sustainability: The Nexus Well-Being, Tourism, Digitalization and Renewable Energy in Scandinavian Countries","authors":"Cem Işık,&nbsp;Serdar Ongan,&nbsp;Buket Aydın,&nbsp;Rahman Aydın,&nbsp;İlyas Kays İmamoğlu","doi":"10.1111/grow.70062","DOIUrl":"https://doi.org/10.1111/grow.70062","url":null,"abstract":"<div>\u0000 \u0000 <p>This research explores the impact of subjective well-being (SWB) on CO2 emissions in Scandinavian countries based on the need to analyze the effects of social indicators shaping environmental sustainability. The study aims to introduce the <i>Welfare-Based SWB</i> approach to the literature by expanding the classical Environmental Kuznets Curve (EKC) hypothesis with the social welfare dimension. SWB is considered in this study to be a social reflection and indirect measure of economic growth, which is the core determinant in the classical EKC hypothesis. The second-generation cointegration test, the Durbin-Hausman, and AMG long-term forecasting methods were used in this context. According to the empirical findings, SWB and digitalization increase carbon emissions, while tourism revenues and renewable energy consumption reduce emissions. The findings indicate that the classical EKC hypothesis is not confirmed and, similarly, an increase in social welfare (SWB) does not automatically lead to environmental improvement. Therefore, policymakers should develop social policies that will increase environmental sensitivity along with an increase in welfare.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145223841","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
Is Seoul the Pound-for-Pound Champion of Information and Communication Service Growth?: A New Size-Free Shift-Share Approach 首尔是名副其实的信息通信服务增长冠军吗?:一种新的无规模转移分享方法
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-10-02 DOI: 10.1111/grow.70059
WooPyeong Yi
{"title":"Is Seoul the Pound-for-Pound Champion of Information and Communication Service Growth?: A New Size-Free Shift-Share Approach","authors":"WooPyeong Yi","doi":"10.1111/grow.70059","DOIUrl":"https://doi.org/10.1111/grow.70059","url":null,"abstract":"<div>\u0000 \u0000 <p>As ICT has emerged as a general-purpose technology, interest in fostering the industry has also grown in non-capital areas. Consequently, the growth rate of the regional ICT service industry has become an important indicator for regional industrial policy. However, when comparing industrial growth across regions, conventional indicators are affected by initial size, making it difficult to assess whether a region's growth is relatively higher than that of others. To address this limitation, this study proposes a size-free shift-share analysis (SSA) and applies the method to Korean ICT service data. The analysis confirms that, while the ICT service industry is indeed quantitatively concentrated in the capital region, such as Seoul, adjusting for initial size reveals that many non-capital regions have achieved ICT service growth surpassing that of the capital region.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145223930","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
How the Digital Economy Reshaped the Economic Geography: Evidence From 284 Cities in China 数字经济如何重塑经济地理:来自中国284个城市的证据
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-09-30 DOI: 10.1111/grow.70061
Bianjiang Ma, Qing Wang, Zhangqi Zhong
{"title":"How the Digital Economy Reshaped the Economic Geography: Evidence From 284 Cities in China","authors":"Bianjiang Ma,&nbsp;Qing Wang,&nbsp;Zhangqi Zhong","doi":"10.1111/grow.70061","DOIUrl":"https://doi.org/10.1111/grow.70061","url":null,"abstract":"<div>\u0000 \u0000 <p>China exhibits notable regional disparities, with inland cities generally trailing behind their coastal counterparts—a gap strongly linked to their distance to core ports. Drawing on data from 284 prefecture-level and higher cities, this study provides evidence that the digital economy significantly alleviates the geographical disadvantage faced by inland cities remote from core ports. Inland cities boasting a robust digital economy have narrowed the per capita GDP gap with coastal cities. Mechanistically, the digital economy weakens the correlation between trade costs and geographical distance, expands the import-export volumes of inland cities, attracts more foreign direct investment, and enables them to reap the benefits of agglomeration effects. This research provides a novel perspective for coordinating regional development in the digital era.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-09-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145224545","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
Local Government Proliferation and Fiscal Efficiency: Evidence From Ghana 地方政府扩张与财政效率:来自加纳的证据
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-09-29 DOI: 10.1111/grow.70058
Zurikanen Iddrisu, Abdul-Salam Jahanfo Abdulai, Erfan Kefayat, Mandela Gadri
{"title":"Local Government Proliferation and Fiscal Efficiency: Evidence From Ghana","authors":"Zurikanen Iddrisu,&nbsp;Abdul-Salam Jahanfo Abdulai,&nbsp;Erfan Kefayat,&nbsp;Mandela Gadri","doi":"10.1111/grow.70058","DOIUrl":"https://doi.org/10.1111/grow.70058","url":null,"abstract":"<p>In many active decentralized nations in the developing world, the number of sub-national administrative units has continued to increase over the past few decades. In most cases, this churning of more decentralized units does not go without contestation, with critics arguing that they are not done in the true spirit of decentralization but rather a political gesture to palliate constituents and increase popularity among seemingly under-represented groups. Even though studies have attempted to study the impacts of proliferation, we observe a huge swing toward the newly created administrative units, with few studies dedicated to the impacts of proliferation on the parent unit from which the split occurred. In this study, we look at the impact of splitting of districts on the Internal Revenue Generation performance of the parent district (split from) in Ghana. Using year-on-year inflation-adjusted Internally Generated Fund (IGF) for the period 2014–2022, we employed a Difference-in-Differences (DiD) research design, which was operationalized as an Ordinary Least Squares model with robust standard errors. The results show that holding other factors constant, the splitting of the districts in 2018 resulted in an increase in internal revenue generation performance (<i>p</i> &lt; 0.05). We argue that the desire to meet pre-split revenue targets is among the key driving factors. Our results challenge existing notions that administrative unit proliferation is an entirely political activity with no positive recourse to the fiscal potential of the parent unit. Given that this study is only the first in the Ghanaian context, we believe deeply contextual studies are further needed to enhance understanding of the factors that could underline revenue improvements.</p>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/grow.70058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145224158","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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
Regional Economic Resilience: The Cases of Brazil, Chile and Colombia 区域经济弹性:巴西、智利和哥伦比亚的案例
IF 2.1 3区 经济学
Growth and Change Pub Date : 2025-09-29 DOI: 10.1111/grow.70060
Cristian Delgado-Bello, Andres Maroto, Miguel Atienza
{"title":"Regional Economic Resilience: The Cases of Brazil, Chile and Colombia","authors":"Cristian Delgado-Bello,&nbsp;Andres Maroto,&nbsp;Miguel Atienza","doi":"10.1111/grow.70060","DOIUrl":"https://doi.org/10.1111/grow.70060","url":null,"abstract":"<div>\u0000 \u0000 <p>This article analyses regional economic resilience from different perspectives and examines its relationship with regional dynamics and disparities. The labor markets of the regions of Brazil, Chile and Colombia were analyzed in the context of one of the most significant global recessionary shocks for South America, the Asian crisis. The study uses cycle dating methodology and a dynamic algorithm for the endogenous identification of structural breaks. The least resilient regions, according to different approaches, were concentrated in Chile and Colombia. These regions experienced prolonged recovery phases, which in some cases led to structural breaks and amplified regional disparities.</p>\u0000 </div>","PeriodicalId":47545,"journal":{"name":"Growth and Change","volume":"56 4","pages":""},"PeriodicalIF":2.1,"publicationDate":"2025-09-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145224160","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
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