Journal of Asian Economics最新文献_第3页

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

Spillover effect of tax enforcement: Evidence from China 税收执法的溢出效应：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: 2026-01-20 DOI: 10.1016/j.asieco.2026.102126

Zuoming Zhang , Yefei Lu , Dongjie Tao , Binbin Tian

{"title":"Spillover effect of tax enforcement: Evidence from China","authors":"Zuoming Zhang , Yefei Lu , Dongjie Tao , Binbin Tian","doi":"10.1016/j.asieco.2026.102126","DOIUrl":"10.1016/j.asieco.2026.102126","url":null,"abstract":"<div><div>This paper examines the spatial spillover effects of tax enforcement using firm-level data from the National Tax Survey of China. We find that non-audited firms experience a significant increase in their effective income tax burden when other firms located in the same road-level area are audited, providing clear evidence of localized enforcement spillovers. Further analysis shows that the magnitude of these spillovers is jointly shaped by the intensity of enforcement information and firms' receptiveness to that information. Spillover effects are stronger when enforcement information is more concentrated, when firms operate in similar industries, and when the enforcing authority has greater deterrent credibility. They are also more pronounced among larger and more established firms, as well as in areas with higher population density and lower language diversity, where information transmission is more efficient. Moreover, firms respond to heightened perceived enforcement risk by adjusting accounting items that typically receive greater audit attention, including entertainment expenses, training expenditures, tax-exempt income, and subsidy income. Overall, the study identifies the mechanisms through which tax enforcement generates spatial spillovers and provides empirical insights for improving enforcement targeting and tax administration.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102126"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146038379","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

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

Innovation on wings: The impact of air route opening on cross-city collaborative innovation 翼上创新：航线开放对跨城市协同创新的影响

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-12 DOI: 10.1016/j.asieco.2026.102140

Weijie Jiang , Yuqian Fang

引用次数: 0

Assessing association between smoking and elderly health and the effect of local smoke-free policies in China: Evidence from the CHARLS data 评估吸烟与老年人健康之间的关系以及中国地方无烟政策的效果：来自CHARLS数据的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-13 DOI: 10.1016/j.asieco.2026.102142

Ying Chen , Jiecan Li , Dongliang Wang , Jidong Huang

{"title":"Assessing association between smoking and elderly health and the effect of local smoke-free policies in China: Evidence from the CHARLS data","authors":"Ying Chen , Jiecan Li , Dongliang Wang , Jidong Huang","doi":"10.1016/j.asieco.2026.102142","DOIUrl":"10.1016/j.asieco.2026.102142","url":null,"abstract":"<div><div>Although it has been widely known that smoking is associated with deteriorating health, smoking among the Chinese elderly (age 60 and above) remains at a high level. Research on smoking among this population has been limited. This study aims to examine the association between smoking and the health status of the Chinese elderly, utilizing the data from the China Health and Retirement Longitudinal Study (CHARLS) from 2011 to 2020, with a secondary aim to analyze the potential impact of local tobacco control policies on smoking behaviors among this population. The results show that, despite survival biases, smoking was significantly associated with elevated risks of chronic lung diseases, coronary heart diseases, and kidney diseases, and lower level of self-assessed health status among the elderly. Additional analysis among those with a smoking history reveals a significant positive correlation between smoking intensity and certain chronic diseases (such as liver and stomach diseases). Analysis using the instrumental variable method indicates that the impact of local tobacco control policies on smoking behaviors among the Chinese elderly was not statistically significant, suggesting that current local tobacco control policies alone may not be able to significantly alter smoking behaviors among the Chinese elderly who smoke. Heterogeneity analysis indicates that there were significant sex, educational, urban-rural, and regional differences in the associations between the risk of chronic diseases and smoking intensity. Elderly individuals who were male; having lower educational levels; residing in rural areas, tobacco-growing regions, or eastern areas; having better access to medical resources; and living in areas with weaker tobacco control policies, were more likely to be associated with the negative health effects of smoking.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102142"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421532","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

Economic policy uncertainty, individual job hopping, and job match 经济政策的不确定性、个人跳槽和工作匹配

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.2026.102123

Shuyuan Qin , Yongqiu Wu

{"title":"Economic policy uncertainty, individual job hopping, and job match","authors":"Shuyuan Qin , Yongqiu Wu","doi":"10.1016/j.asieco.2026.102123","DOIUrl":"10.1016/j.asieco.2026.102123","url":null,"abstract":"<div><div>In the ever-changing macroeconomic environment, economic policy uncertainty has emerged as a crucial external factor influencing individual job-hopping behavior. Using data from the 2014–2020 China Family Panel Studies (CFPS), listed resume data, company hiring data, and multidimensional economic policy uncertainty indicators, we find that economic policy uncertainty significantly reduces job-hopping frequency among workers. When economic policy uncertainty increases by 1 standard deviation, the frequency of job hopping among workers decreases by 0.15 standard deviations. Sensitivity analysis, instrumental variables approach, and a series of robustness tests confirm the reliability of the estimation results. Heterogeneity analysis reveals that economic policy uncertainty reduces the job-hopping frequency of private enterprise employees, moderately educated workers, technical professionals, and production workers. Mechanism tests indicate that economic policy uncertainty primarily inhibits job hopping by increasing individual risk expectations and reducing firms’ hiring and layoff activities. Economic policy uncertainty decreases both the active job-hopping behavior of workers looking for new employment opportunities and the passive job-hopping behavior due to layoffs and other factors, further validating the mechanism of its influence. Finally, from both subjective and objective perspectives, we find that economic policy uncertainty reduces workers’ job match quality by suppressing their job-hopping behavior.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102123"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145980351","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

Assessing agricultural production under climate change and monetary policy: A quantile-based analysis for E7 countries 气候变化和货币政策下的农业生产评估：E7国家的分位数分析

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-02-25 DOI: 10.1016/j.asieco.2026.102148

Elif Duygu Kömürcüoğlu , Ömer Faruk Kömürcüoğlu , Sinem Koçak

{"title":"Assessing agricultural production under climate change and monetary policy: A quantile-based analysis for E7 countries","authors":"Elif Duygu Kömürcüoğlu , Ömer Faruk Kömürcüoğlu , Sinem Koçak","doi":"10.1016/j.asieco.2026.102148","DOIUrl":"10.1016/j.asieco.2026.102148","url":null,"abstract":"<div><div>Agricultural production plays a fundamental role in ensuring food security and is among the priority areas of the global policy agenda in line with sustainability goals. Climate change increases supply-side uncertainties in production processes; while monetary policy is a key policy tool that can either amplify or mitigate the impact of these shocks on the agricultural sector through financing conditions and input costs. Nevertheless, studies addressing the impact of climate shocks in conjunction with economic policy instruments remain limited; in particular, the simultaneous effects of climate change and monetary policy on agriculture have not been sufficiently analysed. This study examines the effects of climate change and monetary policy on agricultural production in the E7 countries during the period 2000–2022, aiming to fill this gap. Money supply represents monetary policy in the analysis, and a unique climate change index is created to reflect the multidimensional nature of climate change, going beyond single climate proxies. Control variables such as agricultural land, rural population, and renewable energy consumption were not overlooked. MMQR was used in the empirical analysis; the robustness of the results obtained was tested using FGLS and PCSE estimators. Furthermore, the causality relationships between the variables were assessed using the Dumitrescu–Hurlin panel causality test. The findings reveal that climate change negatively affects agricultural production; conversely, monetary expansion, agricultural land, rural population, and renewable energy consumption increase it. The results indicate the necessity of designing monetary policies in line with climate-resilient policies to strengthen agricultural production and ensure food security.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102148"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421549","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