Structural Change and Economic Dynamics最新文献

{"title":"Balance of payments and currency policy in China’s development","authors":"Emilio Carnevali ,&nbsp;Marco Veronese Passarella ,&nbsp;Dongna Zhang","doi":"10.1016/j.strueco.2025.04.010","DOIUrl":"10.1016/j.strueco.2025.04.010","url":null,"abstract":"<div><div>This paper offers a summary and evaluation of China’s development strategy over the past four decades, focusing on its transition to an open economy. On the one hand, it underscores the role played by international trade and the shift from central planning to market-driven resource allocation. On the other hand, it highlights the role of active government intervention, particularly in managing the balance of payments and contributing to China’s success. The paper also addresses the controversies surrounding China’s exchange rate policy, including accusations of “currency manipulation”. The model presented suggests that the scope for a quick nominal revaluation of the Renminbi with respect to the US dollar during the initial stages of the reform era was limited. This finding contributes to a more informed and evidence-based discussion on international macroeconomic imbalances.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 405-415"},"PeriodicalIF":5.0,"publicationDate":"2025-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143864424","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The economic and geostrategic role of LNG in EU energy transition","authors":"Sara Casagrande,&nbsp;Bruno Dallago","doi":"10.1016/j.strueco.2025.04.002","DOIUrl":"10.1016/j.strueco.2025.04.002","url":null,"abstract":"<div><div>Since 2010s, the EU promotes decarbonization and energy security as strategic goals. However, a fundamental impetus came with Russia's invasion of Ukraine in 2022. The EU promoted a drastic reduction of Russian gas import, massive import of liquefied natural gas (LNG), investments in the LNG value chain, reduction of energy demand, and green transition. This article analyses the rise of the LNG market, its contradictions and challenges. According to results, LNG rise has been determined more by geopolitical factors than economic ones, that can be traced back to the impact of the shale gas revolution on the EU-Russia relations. Indeed, LNG convenience compared to pipeline gas is threatened by market volatility and various costs peculiar to LNG. Currently, the massive import of LNG has not solved the problem of energy dependence and cost, does not fully compensate for the gas supply gap and threatens the credibility of the climate agenda.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 387-404"},"PeriodicalIF":5.0,"publicationDate":"2025-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143855082","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of the movement of labor between FDI and domestic firms on the labor productivity of domestic firms","authors":"Duong Hoang Vu,&nbsp;Etsub Tekola Jemberu,&nbsp;Drahomíra Pavelková","doi":"10.1016/j.strueco.2025.04.001","DOIUrl":"10.1016/j.strueco.2025.04.001","url":null,"abstract":"<div><div>The presence of foreign direct investment (FDI) firms generates a two-way labor movement, but most studies have only focused on one-way movement by examining either the movement from FDI firms to domestic firms or the movement from domestic firms to FDI firms. Therefore, this paper examines the impact of the two-way labor movement between FDI and domestic firms on the productivity of domestic firms in the case of Czechia from 2005 to 2019. By using system Generalized Moment Method (SGMM), we identify the positive impact of labor movement from FDI to domestic firms (labor horizontal) and vertical spillovers (labor backward and competition backward). However, we find that the movement from domestic firms to FDI firms does not have an impact on domestic firms. Nevertheless, the labor movement from domestic firms to FDI firms can enhance the positive impact of labor backward and competition backward on the productivity of domestic firms.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 373-386"},"PeriodicalIF":5.0,"publicationDate":"2025-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143843620","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Eurozone Inflation Convergence: Deceptive Appearances","authors":"Filipe Pereira,&nbsp;Luís Aguiar-Conraria","doi":"10.1016/j.strueco.2025.03.018","DOIUrl":"10.1016/j.strueco.2025.03.018","url":null,"abstract":"<div><div>Understanding the inflation cycles of each member state is imperative in light of the European Central Bank's primary objective, which entails maintaining price stability for the countries that have adopted the Euro currency. To this end, we have used wavelet-based methods to analyse inflation in the twelve countries that constituted the initial group to adopt the Euro from 2001 to the end of 2023.</div><div>The study demonstrates an increase in synchronisation of inflation rate cycles in almost every country over time. However, once we control energy commodity prices, the previously observed convergence disappears, indicating that energy price shocks, a consequence of the war in Ukraine, are the leading cause of the initially identified patterns.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 343-352"},"PeriodicalIF":5.0,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143820821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Can special economic zones in China enhance firm's global value chain position?","authors":"Jiaxin Li ,&nbsp;Shaoguo Zhan ,&nbsp;Xuetian Wang","doi":"10.1016/j.strueco.2025.03.017","DOIUrl":"10.1016/j.strueco.2025.03.017","url":null,"abstract":"<div><div>As a widely used global policy tool, the establishment of special economic zones (SEZs) in the era of global value chains (GVC) is receiving increasing attention. Using a sample of Chinese firms, we analyzed the impact of SEZ policy on the GVC position of firms in developing countries and the mechanisms analysis determining their effects at the micro level using the difference-in-differences (DID) method. The results showed that the establishment of SEZs improved firms’ GVC position, especially for non-state-owned firms, general trade firms, firms in medium-or-high-technology industries, and firms in China's costal area. SEZs enhance firms' GVC position through productivity gains, cost reductions, and improved access to financing. Further analysis revealed the moderating effect of level of market development and management efficiency. The findings contribute to understanding SEZ policies and their role in firms' GVC upgrading, with implications for sustainable economic development.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 361-372"},"PeriodicalIF":5.0,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143855184","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Better late than never: The impact of hukou conversion experience on employment quality with urban residents in China","authors":"Jing Zhao ,&nbsp;Yiwen Shangguan ,&nbsp;Qinghai Li","doi":"10.1016/j.strueco.2025.03.016","DOIUrl":"10.1016/j.strueco.2025.03.016","url":null,"abstract":"<div><div>Individual employment quality has been a key topic of concern for both government department and academia in recent years, but there are few studies that account for hukou conversion from rural to urban environments. Based on the China Family Panel Survey (CFPS) 2014–2020 data, this paper uses an entropy weight method to comprehensively evaluate employment quality, and then uses a panel econometric model to examine the impact, heterogeneity and mechanism of the experience with household registration converted from rural hukou to urban hukou (RTUE) on the employment quality of urban residents in China. For clarity, urban residents include migrant workers (rural hukou working in urban area), phoenix urban residents (urban hukou with RTUE), and urban indigenous residents (urban hukou without RTUE). The study found that: (1) RTUE has a positive impact on the employment quality of phoenix urban residents, when compared to migrant workers, but has an insignificant impact when compared to urban indigenous residents. (2) In the subdimension of employment quality, compared with migrant workers, phoenix urban residents have lower wages and labor intensity, and higher labor contract signing rates and insurance participation rates; compared with urban indigenous residents, phoenix urban residents have lower wages and insurance participation rate, but higher job satisfaction. (3) Heterogeneity analysis found that the advantage of phoenix urban residents in employment quality compared to migrant workers is most prominent in male, rich work experience, working in low-tech industries, working in economically underdeveloped areas and “local RTUE” groups, and the disadvantage of which compared to urban indigenous residents is most prominent in economically developed regions and among non-local RTU group. (4) Mechanism research found that compared with migrant workers, RTUE improves the employment quality of phoenix urban residents by enhancing their social capital and non-cognitive abilities, rather than their cognitive abilities.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 286-302"},"PeriodicalIF":5.0,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143760920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Employee compensation in European regions: A spatial analysis of short- and long-term effects","authors":"Antonio Garofalo ,&nbsp;Emma Bruno ,&nbsp;Maria D'Avino ,&nbsp;Aniello Ferraro ,&nbsp;Gennaro Punzo","doi":"10.1016/j.strueco.2025.03.019","DOIUrl":"10.1016/j.strueco.2025.03.019","url":null,"abstract":"<div><div>Some European countries have recently experienced stagnation or decline in employee compensation, highlighting the need to investigate its causes to develop policies that support economic well-being and competitiveness.</div><div>Using a dynamic spatial Durbin panel model and data from 242 European regions from 2008 to 2020, this study explores key socio-demographic, economic, and institutional factors affecting employee compensation. The estimation approach accounts for both spatial and temporal dimensions, allowing the assessment of short- and long-term direct and spillover effects associated with each predictor.</div><div>The results show significant spatial dependencies, with GDP per capita positively influencing compensation in the short-run, while education negatively due to skill mismatches. Institutional quality contributes to higher compensation levels both in the short- and long-term, highlighting effective governance's role. Statutory minimum wages have negative direct effects in the short-run and positive spillovers in the long-run.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 303-314"},"PeriodicalIF":5.0,"publicationDate":"2025-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143785700","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Examining the Influence of ICT on Carbon Emissions in Emerging Economies","authors":"Jun Wen ,&nbsp;Samia Khalid ,&nbsp;Hamid Mahmood ,&nbsp;Khorshed Alam ,&nbsp;Muhammad Zakaria","doi":"10.1016/j.strueco.2025.03.015","DOIUrl":"10.1016/j.strueco.2025.03.015","url":null,"abstract":"<div><div>This study explores the influence of digitalization of the economy on carbon emissions in emerging economies (BRICS) by taking in account the impact of green technology. The empirical results are obtained by using the sophisticated econometric techniques of Feasible Generalized Least Squares (FGLS) and Panel Corrected Standard Errors (PCSE). The findings reveal that adoption of digital technology in the economy improves the environment by lowering carbon emissions. The intuition is that digital innovations encourage a move towards more environmentally friendly production methods and increase energy efficiency across a range of industries. Green technology enhances this effect by serving as a mediator. The findings also show that high income level and globalization lowers emissions while urbanization tends to raise carbon emissions. Based on the empirical results, the study recommends that BRICS countries should emphasize investments in the digitalization of the economy and green technology incentives since clean technology and resource management may drastically cut emissions.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 353-360"},"PeriodicalIF":5.0,"publicationDate":"2025-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143828729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Inconsistent effects of heterogeneous environmental policy on corporate green innovation: Evidence from China's companies and policy quantification","authors":"Guoxing Zhang ,&nbsp;Yang Gao ,&nbsp;Bin Su ,&nbsp;Zhanglei Chen ,&nbsp;Yi Zhang","doi":"10.1016/j.strueco.2025.03.014","DOIUrl":"10.1016/j.strueco.2025.03.014","url":null,"abstract":"<div><div>The government's adoption of environmental policies plays a critical role in promoting corporate green innovation (CGI). However, it is unclear about how heterogeneous environmental policies affect CGI. In this study, a cross-sectional assessment of the effects of heterogeneous environmental policies on CGI are evaluated by constructing China's provincial environmental policy intensity, using microdata of 744 listed companies from 2006 to 2020. The results indicate that while environmental policy has contributed to a quantitative increase of green innovation, it has induced a decrease in quality. This effect is varying with different conditions such as region, energy consumption, pollution, and corporate ownership. Mechanism analysis indicates that heterogeneous environmental policies have inconsistent paths on CGI through both tangible and intangible factors. This paper provides empirical evidence of how heterogeneous environmental policies affect CGI, which is helpful for deepening the understand of policy effects and the differences in corporate responses under different conditions and mechanisms. Simultaneously, the results provide diverse insights and implications for theory and practice.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 315-342"},"PeriodicalIF":5.0,"publicationDate":"2025-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143791854","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Firm scale, market share, and total factor productivity: Novel evidence from China's iron and steel firms","authors":"Hongqi Ma ,&nbsp;Qiang He","doi":"10.1016/j.strueco.2025.03.011","DOIUrl":"10.1016/j.strueco.2025.03.011","url":null,"abstract":"<div><div>Based on micro-data provided by the China Industrial Enterprises Database, this paper examines the mechanism through which the expansion of China's iron and steel firms affects total factor productivity via market share. The novel findings are as follows: (i) The \"scale competitive advantage\" formed by iron and steel firms expanding their scale to gain market share is not sustainable. \"Making it bigger first\" does not necessarily facilitate \"making it stronger\". (ii) During the institutional transition, administrative intervention is a crucial factor for local governments to help local firms gain market share. This factor significantly alters the nonlinear path through which expansion affects total factor productivity via market share, causing total factor productivity to decline earlier.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"74 ","pages":"Pages 252-261"},"PeriodicalIF":5.0,"publicationDate":"2025-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143697335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}