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Impacts of international transport infrastructure: Evidence from Laotian households
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2025-01-03 DOI: 10.1016/j.asieco.2024.101876
Magnus Andersson , Kazunobu Hayakawa , Souknilanh Keola , Kenta Yamanouchi
{"title":"Impacts of international transport infrastructure: Evidence from Laotian households","authors":"Magnus Andersson ,&nbsp;Kazunobu Hayakawa ,&nbsp;Souknilanh Keola ,&nbsp;Kenta Yamanouchi","doi":"10.1016/j.asieco.2024.101876","DOIUrl":"10.1016/j.asieco.2024.101876","url":null,"abstract":"<div><div>This study investigates the impact of international transport infrastructure on household living standards. Specifically, we explore how an international bridge between Laos and Thailand affects Laotian households. We use the change in the share of food expenditure out of total expenditure as an indicator of improved living standards via infrastructure. Our estimation results generated through difference-in-differences analysis and propensity score matching show that establishing an international bridge decreased the share of food expenditure, suggesting that the living standards of households close to the bridge improved. Our main results are robust to alternative treatment measurements. Finally, we explore the heterogeneity of treatment effects using a machine learning approach and find that, while households with younger heads are likely to benefit more from the bridge, almost all households in districts close to it can benefit.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101876"},"PeriodicalIF":2.9,"publicationDate":"2025-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143312159","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
Effect of foreign direct investment inflows on urbanization in Vietnam: Does environmental regulation matter?
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-31 DOI: 10.1016/j.asieco.2024.101874
Quynh Anh Do , Rohan Best
{"title":"Effect of foreign direct investment inflows on urbanization in Vietnam: Does environmental regulation matter?","authors":"Quynh Anh Do ,&nbsp;Rohan Best","doi":"10.1016/j.asieco.2024.101874","DOIUrl":"10.1016/j.asieco.2024.101874","url":null,"abstract":"<div><div>This study uses provincial-level panel data containing 63 provinces over the period 2014–2021 in Vietnam to explore the role of foreign direct investment in urbanization in Vietnam, emphasizing the roles of environmental regulations as both a mediator and a moderator. To address the issue of endogeneity, the System Generalized Method of Moments (SGMM) estimators are employed in empirical estimations. The initial results show that lagged foreign direct investment (FDI) directly has a detrimental effect on the progress of urbanization. However, the indirect effects offer a more detailed perspective. Through its contributions to economic growth, FDI indirectly facilitates urbanization, showing that economic development stimulated by foreign investment can drive urban expansion. Environmental regulations, meanwhile, serve a dual purpose: as a mediator, they enable FDI to promote stricter environmental standards, which subsequently encourage urbanization; as a moderator, they enhance the positive influence of FDI on urbanization. The study suggests that in addition to FDI and environmental regulations, urbanization in Vietnam is promoted by higher economic development and human capital accumulation.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101874"},"PeriodicalIF":2.9,"publicationDate":"2024-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143312162","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
Financing constraints and the export partnerships with RCEP: Evidence from manufacturing firms in China
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-30 DOI: 10.1016/j.asieco.2024.101870
Qing Peng , Zhenhao Chen , Jie Li
{"title":"Financing constraints and the export partnerships with RCEP: Evidence from manufacturing firms in China","authors":"Qing Peng ,&nbsp;Zhenhao Chen ,&nbsp;Jie Li","doi":"10.1016/j.asieco.2024.101870","DOIUrl":"10.1016/j.asieco.2024.101870","url":null,"abstract":"<div><div>Despite the continued growth of Chinese exports post the COVID-19 shock, concerns persist regarding trade relationship stability. Particularly within the Regional Comprehensive Economic Partnership (RCEP), a critical export partner for China, many firm-level partnerships exhibit short durations. Through survival analysis, we demonstrate the significant role of financing constraints in these unstable export partnerships with RCEP. Aligned with the pecking order theory of exports, financing constraints prompt firms to either reduce the number of export destinations or shift to larger economies as export partners, thereby destabilizing export partnerships with RCEP members. Moreover, our findings indicate that while traditional bank support benefits large firms in mitigating the adverse effects of financing constraints, small firms rely more on financial support from intermediaries and government subsidies. In addition to financial support, firms can maintain stable export partnerships with RCEP by diversifying export products.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101870"},"PeriodicalIF":2.9,"publicationDate":"2024-12-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143312163","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
Peer effect of fund trading and the risk of individual stock
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-27 DOI: 10.1016/j.asieco.2024.101867
Chuanglian Chen , Lin Yuting , Su Bowei , Yao Shujie
{"title":"Peer effect of fund trading and the risk of individual stock","authors":"Chuanglian Chen ,&nbsp;Lin Yuting ,&nbsp;Su Bowei ,&nbsp;Yao Shujie","doi":"10.1016/j.asieco.2024.101867","DOIUrl":"10.1016/j.asieco.2024.101867","url":null,"abstract":"<div><div>This paper studies the influencing mechanisms between peer effect of fund trading behavior and the left-tail risk of individual stocks. The estimated results show that the increasing peer effect of fund trading behavior in China will significantly increase the overall scale of left tail risk, and the public offering of funds have not played the role of guiding value investment and stabilizing the market expected by regulatory authorities. Signaling and liquidity mechanism can explain this phenomenon. Furthermore, the positive impact of peer effect of fund trading behavior on the left-tail risk is more pronounced among listed companies with high analyst attention, non-state-owned nature, and high short selling activity.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101867"},"PeriodicalIF":2.9,"publicationDate":"2024-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143312160","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
The impact of robot adoption on quality of export products: Evidence from Chinese industrial enterprises
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-27 DOI: 10.1016/j.asieco.2024.101871
Weiqing Li
{"title":"The impact of robot adoption on quality of export products: Evidence from Chinese industrial enterprises","authors":"Weiqing Li","doi":"10.1016/j.asieco.2024.101871","DOIUrl":"10.1016/j.asieco.2024.101871","url":null,"abstract":"<div><div>Based on micro-matched data from the China Industrial Enterprise Database and China Customs Database from 2006 to 2015, this paper systematically examines the impact and mechanism of robot adoption on the quality of Chinese enterprises' export products. It is found that robot adoption significantly promotes the quality upgrading of enterprises' export products, and the finding remains robust after a series of tests. The heterogeneity test shows that the promotion effect of robot adoption is more significant among large-scale enterprises, private enterprises, and non-high-tech enterprises. Mechanism studies show that robot adoption promotes quality upgrading of enterprises' export products mainly through channel mechanisms such as product competition, trade expansion, and first-mover advantage, and product competition involves a coexistence of \"price competition\" and \"quality competition,\" with \"quality competition\" taking the lead. This paper provides favorable evidence to support the development of China's robotics sector and provides useful reference ideas for enterprises to upgrade the quality of export products.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101871"},"PeriodicalIF":2.9,"publicationDate":"2024-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143311144","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
High housing prices and low social integration of China’s new generation migrants in cities
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-26 DOI: 10.1016/j.asieco.2024.101873
Jing Li , Maohua Wu , Chining Zhao
{"title":"High housing prices and low social integration of China’s new generation migrants in cities","authors":"Jing Li ,&nbsp;Maohua Wu ,&nbsp;Chining Zhao","doi":"10.1016/j.asieco.2024.101873","DOIUrl":"10.1016/j.asieco.2024.101873","url":null,"abstract":"<div><div>This study explores the impact of rising housing prices on the social integration and settlement intentions of migrants in China. We explore this relationship by analyzing the variation in housing price appreciation across different age groups and cities, utilizing individual-level data from the 2017 CMDS survey. To establish a causal relationship, we employ an instrumental variable approach. Our findings reveal a significant negative effect of increasing housing prices on social integration and settlement intentions among migrants. Furthermore, we identify several individual characteristics that can mitigate this effect. Factors such as lower housing demand, longer educational attainment, being married, female gender, and working for the government are associated with a reduced impact of housing price increases on social integration and settlement intentions. These results underscore the long-term consequences of the real estate market on city development. By shedding light on the relationship between housing prices and social integration, our study provides valuable insights for policymakers and urban planners in managing the challenges faced by migrant populations in China.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101873"},"PeriodicalIF":2.9,"publicationDate":"2024-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143311143","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
Fertility and female mental health
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-26 DOI: 10.1016/j.asieco.2024.101862
Rui Guan , Hua Lei , Yan Zhi
{"title":"Fertility and female mental health","authors":"Rui Guan ,&nbsp;Hua Lei ,&nbsp;Yan Zhi","doi":"10.1016/j.asieco.2024.101862","DOIUrl":"10.1016/j.asieco.2024.101862","url":null,"abstract":"<div><div>The issue of female mental health has emerged as a global concern. Using CFPS 2010–2020 data, this paper examines changes in female mental health before and after the childbirth. The estimation results show that fertility has a significant negative impact on female mental health, with a particularly pronounced impact observed in the second year following the birth of the first child. However, the negative effect is small and insignificant for male. Mechanism analysis suggests that the deterioration of female mental health can be attributed to less participation in work and reduced sleep hours, while female physical health status is not affected by fertility. Heterogeneity analysis suggests that the negative effects of fertility on female mental health are more pronounced in younger women, giving birth to a son, with lower levels of education and from lower socioeconomic backgrounds.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101862"},"PeriodicalIF":2.9,"publicationDate":"2024-12-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143311208","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
Health spending efficiency in developing Asia
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-12-25 DOI: 10.1016/j.asieco.2024.101869
Donna Faye Bajaro , Yothin Jinjarak , Yuho Myoda , Donghyun Park , Pilipinas Quising
{"title":"Health spending efficiency in developing Asia","authors":"Donna Faye Bajaro ,&nbsp;Yothin Jinjarak ,&nbsp;Yuho Myoda ,&nbsp;Donghyun Park ,&nbsp;Pilipinas Quising","doi":"10.1016/j.asieco.2024.101869","DOIUrl":"10.1016/j.asieco.2024.101869","url":null,"abstract":"<div><div>The coronavirus disease (COVID-19) pandemic put significant stress on health systems and brought to the fore the importance of efficient health spending. Among the subregions of developing Asia, East Asia exhibits the highest technical efficiency. Expanding the service coverage of universal healthcare enhances the realization of health outcomes, while leveraging the concentration of population improves the effective utilization of health budgets. Moreover, Caucasus and Central Asia has the highest allocative efficiency. Overall, developing Asia has substantial room for improvement in efficiency, with a primary focus on technical efficiency.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"97 ","pages":"Article 101869"},"PeriodicalIF":2.9,"publicationDate":"2024-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143312161","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
Electricity price cross-subsidies and enterprises’ green total factor productivity: Empirical evidence from Chinese industrial listed enterprises 电价交叉补贴与企业绿色全要素生产率：来自中国工业上市企业的经验证据
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-11-29 DOI: 10.1016/j.asieco.2024.101848
Li Xie , Zhisheng Huang
{"title":"Electricity price cross-subsidies and enterprises’ green total factor productivity: Empirical evidence from Chinese industrial listed enterprises","authors":"Li Xie ,&nbsp;Zhisheng Huang","doi":"10.1016/j.asieco.2024.101848","DOIUrl":"10.1016/j.asieco.2024.101848","url":null,"abstract":"<div><div>As a kind of electricity price distortion, the effect of electricity price cross-subsidies has always been controversial. From the perspective of the green development effect generated by electricity price cross-subsidies, we estimate the electricity price cross-subsidies in different regions of China using Ramsey’s optimal pricing as a yardstick, and measure the green total factor productivity(GTFP) of enterprises using the SBM-DDF model with the samples of industrial listed enterprises from 2006 to 2020, and then empirically analyze the mechanism of the electricity price cross-subsidies affecting enterprises’ GTFP. The results show that electricity price cross-subsidies affect enterprises’ GTFP through two channels, improving resource allocation efficiency and inhibiting technological progress. However, the effect of electricity price cross-subsidies on improving resource allocation efficiency is more significant than its inhibitory effect on technological advancement, which ultimately enhances the enterprises’ GTFP. At the same time, the impact of electricity price cross-subsidies on enterprises’ GTFP varies significantly across enterprises with different ownership structures, different scales, different energy consumption, and located in different regions, as well as before and after the second round of China’s electricity system reform in 2015. This study provides empirical inspiration for developing countries to steadily advance the reform of electricity price cross-subsidies policies and accelerate the green transformation of economic development mode.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"96 ","pages":"Article 101848"},"PeriodicalIF":2.9,"publicationDate":"2024-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142759620","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
The information externality of public firms’ employment in the municipal corporate bond market in China 中国市政公司债券市场中上市公司就业的信息外部性
IF 2.9 3区 经济学
Journal of Asian Economics Pub Date : 2024-11-20 DOI: 10.1016/j.asieco.2024.101846
Hongling Han , Yidan Mao , Qiang Liu
{"title":"The information externality of public firms’ employment in the municipal corporate bond market in China","authors":"Hongling Han ,&nbsp;Yidan Mao ,&nbsp;Qiang Liu","doi":"10.1016/j.asieco.2024.101846","DOIUrl":"10.1016/j.asieco.2024.101846","url":null,"abstract":"<div><div>This study focuses on the informativeness of the labour force in the municipal corporate bond (MCB) market in China. We aggregate the annual employment of public firms to the prefecture-city level and find that aggregate employment is positively associated with the scale of the MCB, while it is negatively associated with the issuing rate of the MCB. Further, we find that such information externality is conditional on the attributes of the employment characteristics, including the education, functional departments, and ownership nature. Mechanism analyses indicate that information accessibility, processing, dissemination, and efficacy are important channels through which aggregate employment exerts informativeness. The information externality is reinforced after an administration enhances the authenticity of employment information. This paper echoes previous studies of the macro value of aggregate firm-level information and enriches the literature in labour and finance by revealing that the labour dividend still exists and triggers the MCB issuance in China.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"95 ","pages":"Article 101846"},"PeriodicalIF":2.9,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704015","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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