Journal of Asian Economics最新文献_第2页

The impact of global value chain participation on inflation dynamics in case of selected Asian economies 在选定的亚洲经济体中，全球价值链参与对通货膨胀动态的影响

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-01-17 DOI: 10.1016/j.asieco.2026.102129

Bhushan Praveen Jangam , Badri Narayan Rath

引用次数: 0

Food circulation systems and economic growth: Transmission mechanisms and regional heterogeneity in China 粮食流通系统与经济增长：中国的传导机制和区域异质性

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-01-20 DOI: 10.1016/j.asieco.2026.102130

Jing Xie , Zhijie Zeng , Yemei Li , Shaoan Huang

{"title":"Food circulation systems and economic growth: Transmission mechanisms and regional heterogeneity in China","authors":"Jing Xie , Zhijie Zeng , Yemei Li , Shaoan Huang","doi":"10.1016/j.asieco.2026.102130","DOIUrl":"10.1016/j.asieco.2026.102130","url":null,"abstract":"<div><div>Under the conflict between food security and economic growth, this paper examines the impact of China's food circulation system and its changes on economic growth. Through the combination of model and panel regression, we draw the following conclusions. The conclusions are as follows: the intrinsic transmission mechanism affects growth by influencing total factor productivity (TFP), and it is regionally heterogeneous. The empirical analysis uses TFP as a mediating variable and divides the sample into two periods. The results show that the food circulation system in different periods affects economic growth through specific and different paths of action; there is a significant and non-linear relationship between changes in the food circulation system and TFP, and the transmission or mediating effect of TFP on economic growth is significant; the market-oriented reform of the food circulation system has a significant impact on economic growth in the north and south. The impact of market-oriented reforms of the food distribution system on economic growth is heterogeneous across regions, whether they are major food-producing regions or not, with different degrees of marketisation. Finally, some policy recommendations are made.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102130"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146038378","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

Digital infrastructure and cognitive gap among children: Evidence from China 数字基础设施与儿童认知差距：来自中国的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-01-09 DOI: 10.1016/j.asieco.2026.102125

Ge Tian , Zi Yang , Xun Zhang

{"title":"Digital infrastructure and cognitive gap among children: Evidence from China","authors":"Ge Tian , Zi Yang , Xun Zhang","doi":"10.1016/j.asieco.2026.102125","DOIUrl":"10.1016/j.asieco.2026.102125","url":null,"abstract":"<div><div>This paper examines how large-scale digital infrastructure affects children’s cognitive ability and exacerbates cognitive disparities among them. Leveraging the rollout of the “Broadband China” initiative, we construct an intensity difference-in-differences (DID) model and utilize panel data from the China Family Panel Studies (CFPS). Our results show that the expansion of digital infrastructure significantly impairs children’s cognitive development, with the adverse effects disproportionately concentrated among rural, especially left-behind children. Mechanism analysis reveals that digital infrastructure weakens the income channel for left-behind children, as it does not lead to significantly higher earnings for their migrant parents compared to non-left-behind counterparts, and any income gains are less likely to be invested in education. It also distorts the knowledge acquisition channel, as left-behind children—due to reduced educational expectations—are less likely to leverage digital resources for learning. Furthermore, the entertainment channel is intensified by limited parental supervision, making left-behind children more vulnerable to excessive online entertainment. We further explore policy interventions that may mitigate these negative impacts. Our findings suggest that digital infrastructure, in the absence of complementary safeguards, can reinforce existing inequalities—highlighting the need for targeted support policies in the digital era</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102125"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145929247","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

Macroeconomic effects of monetary combination policy in China: The Generalized New Keynesian Phillips Curve in an open economy 中国货币组合政策的宏观经济效应：开放经济条件下广义新凯恩斯菲利普斯曲线

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-27 DOI: 10.1016/j.asieco.2026.102149

Suhua Tian , Li Wang , Yonghan Zhao

{"title":"Macroeconomic effects of monetary combination policy in China: The Generalized New Keynesian Phillips Curve in an open economy","authors":"Suhua Tian , Li Wang , Yonghan Zhao","doi":"10.1016/j.asieco.2026.102149","DOIUrl":"10.1016/j.asieco.2026.102149","url":null,"abstract":"<div><div>This study builds a New Keynesian model to analyze the macroeconomic effects of the monetary combination policy in China and obtains a Generalized New Keynesian Phillips Curve, which demonstrates that the nominal exchange rate is of great importance for the gross inflation rate. The numerical simulation yields three main results. First, expansionary monetary policy exhibits delayed stimulative effects on macroeconomic activity while simultaneously inducing volatility. Second, when the central bank implements an expansionary monetary policy with sterilization interventions, the economy exhibits immediate output growth alongside reduced volatility. However, the stabilizing effect of sterilization gradually diminishes at the margin. As sterilization intensity increases, the elasticity of macroeconomic variables to policy shocks declines proportionally. Third, under a flexible exchange rate regime with wide fluctuation bands, the inflation rate exhibits a strong impulse response to the monetary combination policy shock, with the exchange rate channel playing a significant transmission role in the inflation dynamics.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102149"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421551","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}

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Oil price pass-through to inflation in emerging Asia 油价对亚洲新兴市场通胀的传导作用

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2025-12-29 DOI: 10.1016/j.asieco.2025.102103

John Beirne , Nuobu Renzhi

引用次数: 0

Growth matters, but so does its composition: An empirical study on India's multidimensional poverty, 1995–2021 增长很重要，但其构成也很重要：关于印度多维贫困的实证研究，1995-2021

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-01-20 DOI: 10.1016/j.asieco.2026.102133

Yanxi Bao , Tingxuan Liao

{"title":"Growth matters, but so does its composition: An empirical study on India's multidimensional poverty, 1995–2021","authors":"Yanxi Bao , Tingxuan Liao","doi":"10.1016/j.asieco.2026.102133","DOIUrl":"10.1016/j.asieco.2026.102133","url":null,"abstract":"<div><div>The sectoral composition of economic growth plays a pivotal role in shaping poverty outcomes, yet its influence on multidimensional poverty remains underexplored. Using state-level panel data from India for the period 1995–2021, this study investigates the relationship between economic growth—both aggregate and sectoral—and multidimensional poverty. To address endogeneity in aggregate growth, we employ an instrumental variables strategy and estimate a growth elasticity of multidimensional poverty between −1.4 and −1.6, suggesting moderate multidimensionally inclusiveness of India's growth process. However, this result demonstrates markedly sectoral heterogeneity: manufacturing and services—especially financial and non-market services—are significantly correlated with multidimensional poverty, whereas agriculture exhibits minimal impact. Further mechanism analysis reveals that manufacturing-led growth contributes to poverty reduction through two key channels: a narrowing gender income gap and declining child dependency ratios. These effects are particularly pronounced in reducing the share of out-of-school and nutritionally deprived children living in multidimensionally poor households.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102133"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146078945","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

Public expenditure, housing value and wealth redistribution theory: Evidence from China’s urbanization 公共支出、住房价值与财富再分配理论：来自中国城市化的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-18 DOI: 10.1016/j.asieco.2026.102146

Ping Zhang , Jian Wu , Andong Zhuge , Bo Li

{"title":"Public expenditure, housing value and wealth redistribution theory: Evidence from China’s urbanization","authors":"Ping Zhang , Jian Wu , Andong Zhuge , Bo Li","doi":"10.1016/j.asieco.2026.102146","DOIUrl":"10.1016/j.asieco.2026.102146","url":null,"abstract":"<div><div>China’s household wealth is experiencing rapid growth and has emerged as a significant force on the global stage. Although the government has played a crucial role in driving economic growth and facilitating wealth accumulation, limited research has thus far explored the mechanisms through which government expenditure reallocates household wealth during the process of urbanization in China. We utilize data from the China Family Panel Studies (CFPS) household survey (2010–2018) and prefecture-level datasets to estimate the impact of government expenditure on household wealth, with a particular focus on housing wealth. By employing the “Province-Managing-County” fiscal reform as a quasi-natural experiment and using a historical instrumental variable, we identify a robust link between public expenditure and wealth accumulation. Our findings reveal that the capitalization of government expenditure plays a vital role in housing value appreciation, accounting for over 55 % of total household wealth. Moreover, the impact of government expenditure on household wealth has a pronounced redistributive effect. Specifically, government expenditures significantly enhance the net worth of homeowners, particularly those who own two or more properties, while having a minimal impact on households consisting of rental tenants. And the gains from the appreciation of housing assets are more concentrated among early home buyers. In the absence of a property tax system, the redistributive effect of government expenditures on household wealth has exacerbated social inequality.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102146"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421547","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

Stock market performance of exporting firms during the COVID-19 pandemic: Evidence from South Korea COVID-19大流行期间出口企业的股市表现：来自韩国的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-06 DOI: 10.1016/j.asieco.2026.102137

Jeongsim Kim

引用次数: 0

Institutional investor horizons and optimism in analyst earnings forecasts: Evidence from China 机构投资者的视野和分析师盈利预测的乐观：来自中国的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-21 DOI: 10.1016/j.asieco.2026.102147

Fanjie Fu , Jing Fang , Mei Yang , Shujie Yao , Chuan Lin

{"title":"Institutional investor horizons and optimism in analyst earnings forecasts: Evidence from China","authors":"Fanjie Fu , Jing Fang , Mei Yang , Shujie Yao , Chuan Lin","doi":"10.1016/j.asieco.2026.102147","DOIUrl":"10.1016/j.asieco.2026.102147","url":null,"abstract":"<div><div>This paper investigates the impact of institutional investor horizons on analysts' optimistic bias using data from China's listed firm-level panel from 2007 to 2019. It was discovered that institutional investor horizons significantly reduce analysts' optimistic bias. After accounting for sample selection bias and potential endogeneity, the results remain robust. The mechanism test demonstrates that long-term institutional investors use their own preference and monitoring effect on firms to influence analysts' optimism through their relationships with listed firms and security companies (such as shareholders and clients), thereby reducing conflicts of interest between management and analysts, as well as between employers and analysts. Furthermore, long-term institutional investors may use their advantages in information gathering to dampen analyst optimism. Increased institutional investor horizons strengthen their supervisory role, diminishing analyst optimism in the sample that long-term institutional investors are more dominant and professional. The monitoring effect is stronger in the sample with large cliques, low-level herding behavior, and weak competition for information among institutional investors.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102147"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421533","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

Digital finance and high-quality economic development: Evidence from Chinese municipal data 数字金融与高质量经济发展：来自中国城市数据的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-09 DOI: 10.1016/j.asieco.2026.102136

Jing Wu , Chee Yoong Liew , Dong Ya Ji

{"title":"Digital finance and high-quality economic development: Evidence from Chinese municipal data","authors":"Jing Wu , Chee Yoong Liew , Dong Ya Ji","doi":"10.1016/j.asieco.2026.102136","DOIUrl":"10.1016/j.asieco.2026.102136","url":null,"abstract":"<div><div>Under the twin conditions of global digitalization and low-carbon, the process by which advanced technological tools such as digital finance (DF) promote the shift from a traditional real economy towards innovation-led and low-carbon circular economies is gaining much scholarly interest. We investigate how DF impacts high-quality economic development (HED) in Chinese municipalities during 2011–2023 with the help of the Peking University digital financial inclusion index and the China Urban statistical year book. Dimensions include industrial structure, total-factor productivity, technological innovation, environmental situation, and the life of residents. From the methodology view point, difference-in-differences and two-stage least square instrumental variables methods are adopted to resolve endogeneity problems and get robust research results. From our results, we can observe that DF plays an important role on HED and financial development (FD) is a positive moderator of this relationship. On the contrary, excessive government intervention (GI) becomes a negative moderating variable, which is limiting in the case of market efficiency and innovation. Our study has also reported that the effect of DF on HED is heterogeneous across different regions in China. Hence, based on our research results, there is a strong need for policy customization in different regions in China to ensure maximum benefits of the implementation of DF. Our results indicate the importance of DF in promoting sustainable economic growth, particularly in developing countries, such as China.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102136"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421558","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