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The long-term influence of education resources allocation on the migration: Evidence from the China’s rural school consolidation policy 教育资源配置对人口迁移的长期影响：来自中国农村学校合并政策的证据
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-13 DOI: 10.1016/j.asieco.2024.101710
Yu Zhao , Hui Du , Rui Li , Guangsu Zhou
{"title":"The long-term influence of education resources allocation on the migration: Evidence from the China’s rural school consolidation policy","authors":"Yu Zhao ,&nbsp;Hui Du ,&nbsp;Rui Li ,&nbsp;Guangsu Zhou","doi":"10.1016/j.asieco.2024.101710","DOIUrl":"10.1016/j.asieco.2024.101710","url":null,"abstract":"<div><p>The experiences of student life can have lasting impacts on an individual's future outcomes. We take the policy of the Rural Primary School Consolidation Program (RPSCP) in 2001 as a quasi-natural experiment, and comprehensively examine the long-term impact of this policy on students’ migration decisions in the future. We find that the RPSCP policy has a persisting negative impact on rural students’ future migration, with a more pronounced effect among girls and younger students. Mechanism analysis suggests that the RPSCP can hinder the process of human capital accumulation, thereby reducing the likelihood of migration. Further investigation highlights that school consolidation not only affects students' career choices, but also has a profound impact on household registration conversion and settlement intentions in other regions.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139634608","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 digital financial usage on resident’s income inequality in China: An empirical analysis based on CHFS data 数字金融使用对中国居民收入不平等的影响：基于CHFS数据的实证分析
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-11 DOI: 10.1016/j.asieco.2024.101706
Yunping Hao , Bing Zhang
{"title":"The impact of digital financial usage on resident’s income inequality in China: An empirical analysis based on CHFS data","authors":"Yunping Hao ,&nbsp;Bing Zhang","doi":"10.1016/j.asieco.2024.101706","DOIUrl":"https://doi.org/10.1016/j.asieco.2024.101706","url":null,"abstract":"<div><p>This study investigates the relationship between digital financial use and resident’s income inequality based on 2019 CHFS<span> data. We argue that digital finance usage impacts resident’s income inequality both directly and indirectly. To examine the impact of digital financial use on resident’s income inequality and explore transmission mechanisms, including differences across regions, occupations, work types, and education levels, we employ ordinary least squares. Our results reveal that digital payments, digital money management, digital funds, and credit card usage have a positive mitigating effect on resident’s income inequality. Digital financial services have a significant positive impact on resident’s income inequality in southern, northern, coastal, and inland regions. Among purely agricultural farmers, digital payments, digital money management, and credit cards' effects are more pronounced than purely non-agricultural farmers. The use of digital financial also reduces resident’s income inequality among different work types, including institutional, state-owned, self-employed, and private enterprise. Family entrepreneurship, entrepreneurial frequency, and working outside the home are important channels through which digital financial services mitigate resident’s income inequality. Digital payments and credit cards reduce resident’s wage income inequality, while digital money management and digital funds are effective in reducing resident’s property income inequality.</span></p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139436106","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 it pay to be green? The impact of emissions reduction on corporate tax burden 绿色是否值得？减排对企业税负的影响
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-11 DOI: 10.1016/j.asieco.2024.101707
Huaqing Wu , Ling Wang , Fei Peng
{"title":"Does it pay to be green? The impact of emissions reduction on corporate tax burden","authors":"Huaqing Wu ,&nbsp;Ling Wang ,&nbsp;Fei Peng","doi":"10.1016/j.asieco.2024.101707","DOIUrl":"10.1016/j.asieco.2024.101707","url":null,"abstract":"<div><p><span>Is there any benefit to reducing emissions for firms? Based on the China Industrial Enterprises Emission and Pollution Database and the Annual Survey of Industrial Firms, this study investigates the impact of firms’ emissions reduction on their tax burden. We find strong and consistent evidence of a significant reduction in the tax burden following a reduction of firms polluting emissions. This effect mainly manifests in large-scale firms, firms whose taxes are collected by the local taxation bureaus (LTB), and firms in regions with stricter environmental regulations. We also find that tax breaks and government subsidies are important pathways to reduce </span>corporate tax burden. Further exploration documents that firms’ bargaining power and local tax enforcement have significantly moderating effects on the relationship between firms’ emissions reduction and their tax burden.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139458066","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 earthquakes and households’ risk-taking: Evidence from the China Household Finance Survey 地方地震与家庭的风险承担：来自中国家庭金融调查的证据
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-10 DOI: 10.1016/j.asieco.2023.101648
Hongmin Yuan , Yanmin Ouyang , Yuxiang Li
{"title":"Local earthquakes and households’ risk-taking: Evidence from the China Household Finance Survey","authors":"Hongmin Yuan ,&nbsp;Yanmin Ouyang ,&nbsp;Yuxiang Li","doi":"10.1016/j.asieco.2023.101648","DOIUrl":"10.1016/j.asieco.2023.101648","url":null,"abstract":"<div><p>This study examines the earthquakes’ effects on households’ risk-taking. Using the China Household Finance<span> Survey data, local earthquakes are found to have negative, significant and short-term effects on risk-taking, which is measured by the probability of households’ participation in risky financial assets markets and the holding ratio. The possible channels are that earthquakes reduce people’s risk-taking by reinforcing their concerns about financial risks and future uncertainties. Besides, the study hypothetically discusses and empirically excludes investor sentiment explanations. In addition, earthquakes’ effects are more pronounced among households with higher wealth and income, and households with female, well-educated heads. Moreover, further discussions about households’ risk management regarding natural hazards are presented accordingly.</span></p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139457568","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 social trust promote the size of enterprises? Evidence from China 社会信任会促进企业规模的扩大吗？来自中国的证据
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-09 DOI: 10.1016/j.asieco.2023.101705
Congming Ding, Qiucen Ma
{"title":"Does social trust promote the size of enterprises? Evidence from China","authors":"Congming Ding,&nbsp;Qiucen Ma","doi":"10.1016/j.asieco.2023.101705","DOIUrl":"https://doi.org/10.1016/j.asieco.2023.101705","url":null,"abstract":"<div><p>Existing research on the relationship between social trust and enterprise size primarily relies on cross-country analysis, but country-specific studies are still rare, especially for developing countries. Drawing on Fukuyama’s proposition that social trust fosters enterprise expansion, this study empirically investigates the effect of social trust on the size of enterprises in China. We analyze industrial enterprise data from the China Industrial Enterprise Database and manually collected data on blood donations, a proxy for social trust, at the prefecture level. Our findings indicate that regions with higher social trust have both larger enterprises and a greater prevalence of large enterprises than regions with low social trust. This study offers an explanation for the “riddle of the absence of large enterprises in China” by considering the role of social trust and provides an empirical examination of Fukuyama’s proposition in the unique context of China.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139436107","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 global value chain restructuring on the product structure of China-EU exports 全球价值链重组对中欧出口产品结构的影响
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2024-01-08 DOI: 10.1016/j.asieco.2024.101708
Hongyuan Zhang, Yibing Ding
{"title":"The impact of global value chain restructuring on the product structure of China-EU exports","authors":"Hongyuan Zhang,&nbsp;Yibing Ding","doi":"10.1016/j.asieco.2024.101708","DOIUrl":"10.1016/j.asieco.2024.101708","url":null,"abstract":"<div><p><span>Using the Asian Development Bank Multi-Regional Input-Output Tables (ADB-MRIO) and the UIBE GVC Indicators Database, this paper selects the data of 14 manufacturing </span>industries in China from 2007 to 2020, and empirically studies the impact of global value chain restructuring on the product structure of China-EU exports. Research shows that the restructuring of global value chain is conducive to the optimization of China-EU export product structure, and has a stronger effect on high-tech industries. Among them, the labor cost-driven global value chain restructuring is not conducive to the upgrading of China-EU export product structure, while the technological progress-driven global value chain restructuring is helpful to the upgrading of the product structure of China-EU exports. Further research finds that the global value chain restructuring driven by the US trade protection policy is conducive to the upgrading of China-EU export product structure. The research of this paper is helpful for China to strengthen China-EU cooperation and upgrade export trade structure in the new wave of global value chain restructuring. This paper can provide a possible path for China and other developing countries to explore high-quality economic development and provide relevant reference value for policy formulation related to the establishment of long-term trade cooperation with the EU.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139457639","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
Impact of return migration on the employment structure of Evidence from rural China 中国农村人口回流对就业结构的影响 证据
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2023-12-28 DOI: 10.1016/j.asieco.2023.101697
Xuelu Xu, Zeyang Jin
{"title":"Impact of return migration on the employment structure of Evidence from rural China","authors":"Xuelu Xu,&nbsp;Zeyang Jin","doi":"10.1016/j.asieco.2023.101697","DOIUrl":"https://doi.org/10.1016/j.asieco.2023.101697","url":null,"abstract":"<div><p>Research on the impact of returnees on rural economic development in China is scarce with the increasing number of migrant workers<span> returning to the countryside from Chinese cities. Data from China Labor-force Dynamic Survey (CLDS) of 2014 and 2016 are used in this paper, attempting to discuss this issue from the perspective of the impact of returnees on the employment of the non-migrant labor force based on occupational skill structure. It is found that the higher the proportion of returnees at the county level is, the more non-migrants will shift to non-agricultural areas after controlling for the exogenous factors of returning reason. Stayers are more likely to work in the medium-skilled secondary industry<span> and construction and escape away from the low-skilled service sector. Off-farm job opportunity and peer effect may be two main channels of returnees to influence job structure of non-migrants. This paper provides empirical evidence on the contribution of Chinese returnees to non-agricultural economic development in rural areas.</span></span></p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139099844","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
Environmental judicature and enterprises’ green technology innovation: A revisit of the porter hypothesis 环境判定与企业的绿色技术创新：波特假说再探
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2023-12-14 DOI: 10.1016/j.asieco.2023.101693
Lei Han , Zijun Xiao , Yongze Yu
{"title":"Environmental judicature and enterprises’ green technology innovation: A revisit of the porter hypothesis","authors":"Lei Han ,&nbsp;Zijun Xiao ,&nbsp;Yongze Yu","doi":"10.1016/j.asieco.2023.101693","DOIUrl":"10.1016/j.asieco.2023.101693","url":null,"abstract":"<div><p>The existing research on the judicial system as the subject of environmental regulation has largely ignored in the Porter Hypothesis. Using the establishment of the environmental court in China, we construct the time-varying difference-in-differences model and use it to examines the rationality of the Porter Hypothesis. The main findings of this study are as follows: (1) as an effective form of environmental regulation, environmental courts significantly improve the level of enterprises’ green technology innovation, which demonstrates the Porter hypothesis positively in China; (2) the establishment of environmental courts can effectively enhance the quality of green technology innovation, and the effect is more significant amongst non-state enterprises and heavily polluting enterprises; (3) The possible mechanisms for the effect of environmental courts on enterprises’ green technology innovation are further verified, including enhancing the environmental attention from government and green financial support from the market. Through the findings of this study, we are able to uncover the effects of environmental judicature on enterprises’ green technology innovation and provide a practical foundation for the development of environmental judicature specialisation.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139025111","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
Equity market responses to surprise Covid-19 lockdowns: The role of pandemic-driven uncertainty 股票市场对 Covid-19 意外封锁的反应：大流行病引发的不确定性的作用
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2023-12-11 DOI: 10.1016/j.asieco.2023.101691
Aakriti Mathur , Rajeswari Sengupta , Bhanu Pratap
{"title":"Equity market responses to surprise Covid-19 lockdowns: The role of pandemic-driven uncertainty","authors":"Aakriti Mathur ,&nbsp;Rajeswari Sengupta ,&nbsp;Bhanu Pratap","doi":"10.1016/j.asieco.2023.101691","DOIUrl":"10.1016/j.asieco.2023.101691","url":null,"abstract":"<div><p>The onset of the Covid-19 pandemic raised questions about identifying and measuring vulnerabilities in non-financial firms in response to large shocks. Applying natural language processing on quarterly earnings call reports, we construct a firm-specific measure of concern about the pandemic for a set of Indian non-financial firms. Compared to their peers, firms with early concern about the pandemic had worse equity responses after the announcement of a surprise, nationwide lockdown in March 2020. We extract the context of the pandemic-related discussions to disentangle the possible mechanisms. The differential returns can only be explained by higher information uncertainty about the impact of the pandemic and its implications for future cash flows.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138568618","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 cross-border M&A improve merging firms’ domestic performances? 跨国并购是否提高了并购企业的国内绩效?
IF 3.2 3区 经济学
Journal of Asian Economics Pub Date : 2023-12-06 DOI: 10.1016/j.asieco.2023.101696
Sung Hyun Son, Young-Han Kim
{"title":"Does cross-border M&A improve merging firms’ domestic performances?","authors":"Sung Hyun Son,&nbsp;Young-Han Kim","doi":"10.1016/j.asieco.2023.101696","DOIUrl":"10.1016/j.asieco.2023.101696","url":null,"abstract":"<div><p>Facing the concerns that outward foreign direct investments might hollow out domestic corporate activities, we examine whether cross-border acquisitions by emerging market enterprises (EMEs) improve or damage domestic corporate performances based on the data of 348 Indian firms’ cross-border M&amp;A experiences from 1995 to 2017. We investigate acquirers’ post-M&amp;A performances by nonparametric flexible conditional difference-in-difference (DID) analysis which considers different treatment timing and periods. We find that cross-border acquisitions increase acquiring firms’ domestic sales, total labor costs, and total factor productivity (TFP). In addition, we demonstrate that Indian firms’ cross-border M&amp;As in technology-intensive sectors with merged firms located in OECD countries taking the form of horizontal M&amp;As show better domestic performances. The results implicate that well-tuned outward FDIs via cross-border M&amp;As of emerging economies do not hollow out but complement domestic corporate activities.</p></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":null,"pages":null},"PeriodicalIF":3.2,"publicationDate":"2023-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138507059","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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