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Structural Change and Economic Dynamics最新文献

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How does intergenerational transmission affect green innovation? Evidence from Chinese family businesses
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-31 DOI: 10.1016/j.strueco.2024.12.022
Peijun Xie , Jian Wang , Shiyi Tang , Irum Shahzadi , Yuriy Bilan
{"title":"How does intergenerational transmission affect green innovation? Evidence from Chinese family businesses","authors":"Peijun Xie ,&nbsp;Jian Wang ,&nbsp;Shiyi Tang ,&nbsp;Irum Shahzadi ,&nbsp;Yuriy Bilan","doi":"10.1016/j.strueco.2024.12.022","DOIUrl":"10.1016/j.strueco.2024.12.022","url":null,"abstract":"<div><div>Green innovation in family businesses is a significant yet underexplored area of research, particularly with regard to the influence of dynamic succession characteristics on intergenerational inheritance and its impact on innovation. This study, integrating the social-emotional wealth theory (SEW) and the agency theory, examines 505 Chinese listed family firms spanning from 2011 to 2020. Employing the Difference-in-Differences (DID) method, we investigate how intergenerational inheritance affects green innovation investment over time. Our findings reveal that initially, intergenerational transmission tends to inhibit green innovation investment in family businesses; however, this effect diminishes as the intergenerational process unfolds, indicative of the maturation of the second generation. Notably, we observe that a higher education level among second-generation heirs weakens the inhibitory effect of intergenerational inheritance on green innovation investment. This study addresses a gap in green innovation research by considering intergenerational transmission dynamics in family businesses, thus enhancing our understanding of innovation behaviors within this context. By synthesizing SEW and agency theory, this research offers novel insights into the varying impacts of intergenerational inheritance on firm innovation, shedding light on approaches to reconcile the willingness-ability paradox in family business innovation and promoting effective governance of succession processes.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 158-169"},"PeriodicalIF":5.0,"publicationDate":"2024-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143346447","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}
引用次数: 0
Shifting sands: How exchange rate volatility shapes income distribution in high-income countries
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-31 DOI: 10.1016/j.strueco.2024.12.021
Brandon Parsons , Ayoub Rabhi
{"title":"Shifting sands: How exchange rate volatility shapes income distribution in high-income countries","authors":"Brandon Parsons ,&nbsp;Ayoub Rabhi","doi":"10.1016/j.strueco.2024.12.021","DOIUrl":"10.1016/j.strueco.2024.12.021","url":null,"abstract":"<div><div>This study examines the effect of exchange rate volatility (ERV), depreciating ER movements, and appreciating ER movements on income inequality in 31 high-income countries from 1990 to 2021. Using panel data econometric models and data from multiple sources, the findings indicate that ERV increases Gini coefficients, disproportionately benefits the top 10/20 %, and negatively impacts the bottom 40/50 %. The study also finds ER depreciation exacerbates income inequality, while appreciations have uncertain effects. The effects of ERV are stronger on the market Gini coefficient than the net Gini coefficient, highlighting the important role of redistribution policies. The study underscores the critical role of ER and their volatility in influencing income distribution. It also highlights the importance of ER management policies and income redistribution mechanisms.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 89-100"},"PeriodicalIF":5.0,"publicationDate":"2024-12-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143345797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Do climate extreme events stimulate or hinder green innovation? Evidence from the Italian manufacturing sector
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-27 DOI: 10.1016/j.strueco.2024.12.020
Mariarosaria Agostino, Sandro Rondinella
{"title":"Do climate extreme events stimulate or hinder green innovation? Evidence from the Italian manufacturing sector","authors":"Mariarosaria Agostino,&nbsp;Sandro Rondinella","doi":"10.1016/j.strueco.2024.12.020","DOIUrl":"10.1016/j.strueco.2024.12.020","url":null,"abstract":"<div><div>The nexus between weather extreme events and firms’ propensity to adopt green innovation is theoretically ambiguous and still lacking empirical evidence. Combining a rich database on natural events, defined at provincial level, with balance sheet and patents information on a large sample of Italian manufacturing firms, this study adopts econometric analysis to examine whether green innovation is affected by extreme events. Our findings indicate that both disruptive and less disruptive climate disasters can hinder firms’ green innovation in both the short and medium terms. Moreover, industry heterogeneity emerges, with firms belonging to low-tech sectors more affected than those operating in high-tech sectors. Therefore, our evidence highlights the critical need for sector-specific adaptation plans that include measures to protect and enhance the innovative capacity of firms, particularly in less technologically advanced sectors. Such plans should be aligned with tailored and long-run industrial policies to address the challenges posed by climate stressors.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 101-111"},"PeriodicalIF":5.0,"publicationDate":"2024-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143346450","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Is this time different? Impact of AI in output, employment and inequality across low, middle and high-income countries
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-25 DOI: 10.1016/j.strueco.2024.12.016
Clovis Freire
{"title":"Is this time different? Impact of AI in output, employment and inequality across low, middle and high-income countries","authors":"Clovis Freire","doi":"10.1016/j.strueco.2024.12.016","DOIUrl":"10.1016/j.strueco.2024.12.016","url":null,"abstract":"<div><div>Recent developments in artificial intelligence (AI) have revived concerns about technological unemployment and the increase in inequality due to technological change. Many studies of the impact of automation have considered a static picture of economies that put less emphasis on their potential for job creation through product innovation. They also tend to focus on developed countries and do not consider the potential impact on developing countries through trade and changes in specialisation patterns. This paper studies the impact of AI on the GDP and employment in low, middle and high-income countries, as well as on the income inequality across countries, based on computer simulations of a multi-country, multi-sector macroeconomic model with endogenous technological change proposed by Freire (2017, 2019). It considers the effect of AI in reducing labour requirements and the potential effects of increasing the pace of product and process innovation. The analysis suggests that the introduction of AI, even when assuming large effects of labour substitution, results in only small changes at the aggregated level of GDP and employment. However, there is an increase in income inequality across countries, and there are considerable shifts in jobs between production sectors and R&amp;D. This suggests that AI may not cause mass technological unemployment but would still result in large distributional changes in low, middle and high-income countries.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 136-157"},"PeriodicalIF":5.0,"publicationDate":"2024-12-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143346449","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}
引用次数: 0
Uncertainty and household consumption in developing countries
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-23 DOI: 10.1016/j.strueco.2024.12.017
Joseph Keneck Massil , Sosson Tadadjeu , Urbain Thierry Yogo
{"title":"Uncertainty and household consumption in developing countries","authors":"Joseph Keneck Massil ,&nbsp;Sosson Tadadjeu ,&nbsp;Urbain Thierry Yogo","doi":"10.1016/j.strueco.2024.12.017","DOIUrl":"10.1016/j.strueco.2024.12.017","url":null,"abstract":"<div><div>This study analyses the effect of global economic uncertainty on household consumption growth in a sample of 87 developing countries over the period 2000–2019. Using the two-step system generalized method of moments, we show that an increase in economic uncertainty is, on average, associated with lower household consumption. This result is robust to the use of an alternative measure of uncertainty, outliers’ exclusion, an alternative estimations approach, and use of an alternative data structure. However, the results show that the effect of uncertainty appears to be driven by sub-Saharan Africa and Latin America. Similarly, countries that have received debt relief under the Heavily Indebted Poor Countries initiative are more vulnerable to the effect of uncertainty on private consumption. This study also finds that remittances, foreign aid, and social protection moderate the adverse effect of economic uncertainty on household consumption. These results highlight the need to implement tax breaks to facilitate remittances from sending to receiving countries to support household consumption during uncertainty shocks and to identify reliable partners to enable aid in recipient countries to reach private and public consumers.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 51-64"},"PeriodicalIF":5.0,"publicationDate":"2024-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143360812","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}
引用次数: 0
Projection of household-level consumption expenditures in a macro-micro consistent framework
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-20 DOI: 10.1016/j.strueco.2024.12.015
Umed Temursho, Matthias Weitzel, Rafael Garaffa
{"title":"Projection of household-level consumption expenditures in a macro-micro consistent framework","authors":"Umed Temursho,&nbsp;Matthias Weitzel,&nbsp;Rafael Garaffa","doi":"10.1016/j.strueco.2024.12.015","DOIUrl":"10.1016/j.strueco.2024.12.015","url":null,"abstract":"<div><div>This paper presents a new approach for projecting (updating) household-level consumption expenditures in line with the existing macro-projections on aggregate consumption and demographic dynamics. Our macro-micro modelling exercises reveal that the use of outdated microdata could lead to an overestimation of direct climate policy costs as well as benefits from compensatory measures. In terms of distributional impacts, using unadjusted microdata may overstate the regressivity of costs and the progressivity of after-transfer welfare impacts. Our analysis of inequality dynamics underscores the relevance of accounting for changes in the population age structure. Overall, the results highlight the importance of using fully consistent macro and micro datasets in policy evaluations. The study further emphasizes the value of producing consumer expenditure projections to quantify the relative uncertainties (robustness) of results in relation to (un)expected shifts in household consumption patterns, assessments of different policy instruments, and comparisons of diverse policy-relevant metrics.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 112-135"},"PeriodicalIF":5.0,"publicationDate":"2024-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143346448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Transcending the geographical stickiness of complex economic activities via strategic unrelated diversification
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-19 DOI: 10.1016/j.strueco.2024.12.018
Wenwan Jin , Shengjun Zhu , Deyu Li , Canfei He
{"title":"Transcending the geographical stickiness of complex economic activities via strategic unrelated diversification","authors":"Wenwan Jin ,&nbsp;Shengjun Zhu ,&nbsp;Deyu Li ,&nbsp;Canfei He","doi":"10.1016/j.strueco.2024.12.018","DOIUrl":"10.1016/j.strueco.2024.12.018","url":null,"abstract":"<div><div>Developing economies often face challenges in catching up and leapfrogging due to the drawbacks of industrial restructuring. This study identifies the geographical stickiness of high-complexity industries and proposes an optimal industrial diversification strategy using a thorough examination of industry entry and maintenance at the global level. The findings indicate that the mechanisms driving the geographical stickiness of complex industries are linked to their reliance on a larger number of related complex industries, as explained by the “capabilities approach”. Moreover, we encourage developing countries to strategically diversify into a small group of related and inter-dependent high-complexity industries simultaneously, a process called “strategic unrelated diversification”, thereby increasing the probability of industrial transformation. These findings have significant implications for explaining why certain countries struggle with industrial restructuring and how to facilitate industrial upgrading effectively.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 65-76"},"PeriodicalIF":5.0,"publicationDate":"2024-12-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143345798","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}
引用次数: 0
Digital transformation, employment change and the adaptation of regions in Germany
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-17 DOI: 10.1016/j.strueco.2024.12.014
Uwe Neumann
{"title":"Digital transformation, employment change and the adaptation of regions in Germany","authors":"Uwe Neumann","doi":"10.1016/j.strueco.2024.12.014","DOIUrl":"10.1016/j.strueco.2024.12.014","url":null,"abstract":"<div><div>Digital change is often said to lead to large-scale job losses. Using data from administrative sources in Germany, this study examines the extent to which adaptation to digital change has affected regional employment growth and disparities over the past decade. The analysis confirms previous research according to which increases in productivity coincide with regional job growth rather than decline. Incorporating various indicators of digitalisation and automation into a model of industry-specific regional job growth shows that local labour markets with very different characteristics – regions with strong manufacturing clusters on the one hand and large cities on the other – have achieved employment growth despite high automation exposure. While the study highlights regional differentials with respect to the adaptation to technological change, less prosperous regions may face a much greater challenge in realising job creation potentials. The results argue against policy efforts aimed at “protecting” jobs from digitalisation and automation.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 37-50"},"PeriodicalIF":5.0,"publicationDate":"2024-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143346351","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Minsky in Peru-unveiling the hidden financial fragility at a sectoral level
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-11 DOI: 10.1016/j.strueco.2024.12.013
Samuele Bibi , Pankaj Avinash Chandorkar
{"title":"Minsky in Peru-unveiling the hidden financial fragility at a sectoral level","authors":"Samuele Bibi ,&nbsp;Pankaj Avinash Chandorkar","doi":"10.1016/j.strueco.2024.12.013","DOIUrl":"10.1016/j.strueco.2024.12.013","url":null,"abstract":"<div><div>Since the beginning of the new millennium Peru has often been described as the Latin American economic miracle for its sustained achieved growth and stability results. However, recent works highlighted the potential hidden financial fragility that Peru might be subject to, especially at the institutional level, considering the non financial private sector. To investigate such a phenomenon in more details, we build Minskyan indicators to study a sample of 59 companies listed in the Peruvian stock market. Our analysis detects different financial fragility exposures of those firms at a sectoral level and it empirically studies the drivers of indebtedness growth at an aggregate level during the 2003–2023 period. In the context of the detected financial fragility, this paper serves as an academic ground in enquiring theoretical key questions and providing relevant highlights for the policymakers of Peru.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"73 ","pages":"Pages 77-88"},"PeriodicalIF":5.0,"publicationDate":"2024-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143345796","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}
引用次数: 0
More technology, more loans? How advanced digital technologies influence firms’ financing conditions
IF 5 2区 经济学
Structural Change and Economic Dynamics Pub Date : 2024-12-10 DOI: 10.1016/j.strueco.2024.11.011
Raffaello Bronzini , Anna Giunta , Eleonora Pierucci , Marco Sforza
{"title":"More technology, more loans? How advanced digital technologies influence firms’ financing conditions","authors":"Raffaello Bronzini ,&nbsp;Anna Giunta ,&nbsp;Eleonora Pierucci ,&nbsp;Marco Sforza","doi":"10.1016/j.strueco.2024.11.011","DOIUrl":"10.1016/j.strueco.2024.11.011","url":null,"abstract":"<div><div>The paper investigates the effects of the adoption of advanced digital technologies (i.e., Industry 4.0) on firms’ credit conditions through a signaling effect. The empirical analysis exploits microdata from the Bank of Italy’s “Survey on Manufacturing and Service Firms” available for the period 2015–2019, integrated with balance sheet information provided by Cerved. We use a binary endogenous treatment effect model and IV estimation strategy to determine the average effect of digital technology adoption on firms’ financing variables. The results can be summarized as follows: (i) the adoption of digital technologies (DT) lowers the likelihood of being credit rationed; (ii) the adoption of DT is associated with a higher level of leverage but with a lower cost of debt; (iii) the increased firm’s debt is associated with a composition effect resulting in an expansion of bank debt and a reduction in financial debt. These results, which are robust to a number of checks, suggest that digital technology adoption improves firms’ financial conditions, with lower constraints and lower costs, and also influences the relationship between the firm and the financial institutions.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 47-66"},"PeriodicalIF":5.0,"publicationDate":"2024-12-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143326161","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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