Structural Change and Economic Dynamics最新文献_第9页

Unveiling the role of city commercial banks in influencing land financialization: Evidence from China

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-10 DOI: 10.1016/j.strueco.2024.10.004

Junfeng Qiao, Jinbo Lyu

{"title":"Unveiling the role of city commercial banks in influencing land financialization: Evidence from China","authors":"Junfeng Qiao, Jinbo Lyu","doi":"10.1016/j.strueco.2024.10.004","DOIUrl":"10.1016/j.strueco.2024.10.004","url":null,"abstract":"<div><div>Local financial development is crucial for advancing regional financial supply side structural reform, enabling local governments to leverage financial instruments to effectively mobilize land resources and foster competitive growth. The introduction of numerous financial products linked to land-related rights and interests has resulted in a pronounced transmission and interconnection of fiscal and financial risks across regions. This study examines the impact of local financial development on land financialization in China using panel data from prefecture-level cities and detailed information on land mortgages. The findings indicate that the establishment of city commercial banks (CCBs) contributes to the progress of land financialization by incentivizing local government financing vehicles to participate in land mortgage financing, increasing the transfer of debt risks to the financial sector. Notably, the impact of CCBs on land financialization is more pronounced in regions with urban agglomeration, high GDP manipulation, inadequate local financial regulation, and robust implicit government guarantees. Further analysis reveals that CCB establishment has negative spillover effects on land financialization in neighboring areas, while expansion strategies such as establishing intercity branches, engaging in cross-regional mergers, and relaxing regulations have mitigated the rise of land financialization at the regional level. This study provides policy recommendations that focus on reducing local governments’ reliance on land financing and enhancing the prevention and management of financial risks.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 467-481"},"PeriodicalIF":5.0,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143325661","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

Intermediate inputs in Dutch disease. Copper in Chile

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-08 DOI: 10.1016/j.strueco.2024.10.003

Pablo R. Liboreiro

{"title":"Intermediate inputs in Dutch disease. Copper in Chile","authors":"Pablo R. Liboreiro","doi":"10.1016/j.strueco.2024.10.003","DOIUrl":"10.1016/j.strueco.2024.10.003","url":null,"abstract":"<div><h3>Purpose</h3><div>By means of a practical model, the paper discusses the role of intermediate inputs in the ability of a booming extractive sector to draw resources out of lagging sectors, giving rise to Dutch disease.</div></div><div><h3>Methods</h3><div>The model is for the Chilean economy and follows an ‘extended’ input-output structure, with 35 production sectors. Once calibrated and parameterized, the model can be solved numerically to estimate the resource movement effect and the spending effect of a copper boom.</div></div><div><h3>Findings</h3><div>The numerical exercises show that, when the use of intermediate inputs is taken into account, the resource movement effect is of similar magnitude to the spending effect in explaining deindustrialization in Dutch disease. The key mechanism here is that, when the copper sector expands, its effects on real wages and good prices can be significant, due to the use of intermediate inputs.</div></div><div><h3>Implication</h3><div>This implies that the policies that are commonly recommended to avoid Dutch disease (fiscal rules, sovereign wealth funds, etc.) may not be very effective if they are not accompanied by others aimed at promoting greater provision or efficient use of scarce resources.</div></div><div><h3>Originality</h3><div>The present study contributes to the literature on Dutch disease in two ways. On the one hand, it provides an estimate of the resource movement effect and the spending effect of a commodity boom. On the other hand, it provides evidence in favour of the hypothesis that extractive activities can lead to direct deindustrialization.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 427-437"},"PeriodicalIF":5.0,"publicationDate":"2024-10-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143326287","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

Profit produced by post-pandemic inflation: Evidence from an emerging economy

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-05 DOI: 10.1016/j.strueco.2024.10.002

Sayim Isik , Mehmet Mert , Mehmet Ulug

{"title":"Profit produced by post-pandemic inflation: Evidence from an emerging economy","authors":"Sayim Isik , Mehmet Mert , Mehmet Ulug","doi":"10.1016/j.strueco.2024.10.002","DOIUrl":"10.1016/j.strueco.2024.10.002","url":null,"abstract":"<div><div>This paper focuses on the post-pandemic inflationary context, providing further details on how rising corporate profits contribute to the inflationary process in Türkiye. Using quarterly data from 2010 to 2022, we extend the existing literature by employing the Quantile ARDL method to assess the roles that both cost-push and demand-pull factors play in post-pandemic inflation. The chosen empirical strategy is motivated by the main objective of the study, as it allows us to quantify how the factors contributing to inflationary process differ when comparing periods of high inflation (higher quantiles) with periods of low inflation (lower quantiles). The empirical findings support the idea that the drivers of Turkish inflation are context-dependent, with specific causes emerging during inflationary episodes. The results show that cost-push factors, rather than demand-pull factors, are the main cause of the post-pandemic inflation surge in Türkiye. Our estimation results show that the coefficient for interest rates in Türkiye is only -0.42 %, while the corresponding figure for the profit share is 5.26 %, indicating that the effect of the profit share is 12 times greater than that of interest rate. We also find evidence of conflict and profit-driven inflation, confirming that the post-pandemic inflation surge in Türkiye is largely driven by cost-push factors and rising profits.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 233-244"},"PeriodicalIF":5.0,"publicationDate":"2024-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143326192","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

Prices, markups and wages: inflation and its distributive consequences in Spain, 2021-2023

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-03 DOI: 10.1016/j.strueco.2024.09.021

Jorge Uxó , Eladio Febrero , Ignacio Álvarez

引用次数: 0

Energy poverty and the green energy transition's impact upon income inequality in Latin America

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-03 DOI: 10.1016/j.strueco.2024.09.015

Gonzalo H. Soto , Xavier Martinez-Cobas

{"title":"Energy poverty and the green energy transition's impact upon income inequality in Latin America","authors":"Gonzalo H. Soto , Xavier Martinez-Cobas","doi":"10.1016/j.strueco.2024.09.015","DOIUrl":"10.1016/j.strueco.2024.09.015","url":null,"abstract":"<div><div>In this study, we examine the relationships arising from the transition process to green economies and energy poverty in relation to income inequality across 22 Latin American countries during the period from 2000 to 2021. Our estimations are conducted using various estimators for energy poverty and the transition to green economies, employing feasible generalized least squares (FGLS) and panel corrected standard errors (PCSE) to ensure robustness. The results reveal a significant effect of both sets of variables on income inequality. Specifically, energy poverty contributes to higher levels of income inequality, while the ecological transition has the potential to address income inequality issues, provided an effective distribution of renewable energy resources among society is ensured. Failure to achieve equitable distribution of renewable energy resources may hinder the attainment of more egalitarian societies. To address this, a comprehensive set of policies is required to ensure equal access to renewable energy sources for the entire population, along with effective long-term measures that contribute to the equitable distribution of energy resources.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 220-232"},"PeriodicalIF":5.0,"publicationDate":"2024-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143326191","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

Isolating financial cycles using the fractional cyclical model in selected economies: 1970–2019

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-03 DOI: 10.1016/j.strueco.2024.10.001

Marinko Skare , Luis A. Gil-Alana , Małgorzata Porada-Rochon

引用次数: 0

Relatedness and economic complexity as tools for industrial policy: Insights and limitations

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-10-01 DOI: 10.1016/j.strueco.2024.09.019

Cristina Pinheiro

{"title":"Relatedness and economic complexity as tools for industrial policy: Insights and limitations","authors":"Cristina Pinheiro","doi":"10.1016/j.strueco.2024.09.019","DOIUrl":"10.1016/j.strueco.2024.09.019","url":null,"abstract":"<div><div>The use of relatedness and economic complexity (REC) to advise on industrial policy is expanding. Typically, it leads to the recommendation to (not) support activities that are (un)related to a region’s comparative advantages. Yet, the implications of such use remain largely unaddressed. Drawing on developmental state and innovation studies, I identify two reasons for caution when using REC for policy purposes. First, technological and economic catch-up may require diversification toward unrelated activities. Second, REC focuses exclusively on domestic supply, ignoring demand and international competition. In addition, I highlight conceptual and methodological limitations that are likely to affect REC’s policy implications. Most notably, REC literature might overestimate the magnitude and significance of relatedness, while overlooking the contribution of policy to past diversification outcomes. This paper shows that while REC metrics can provide valuable insights into patterns of structural change, their use in industrial policy requires the concurrent assessment of other crucial elements, including the environmental footprints of diversification options and the dynamics of international supply and demand.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 1-10"},"PeriodicalIF":5.0,"publicationDate":"2024-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143325783","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

Cash transfers and the Phillips curve: The case of Brazil during the pandemic 现金转移和菲利普斯曲线：大流行病期间的巴西案例

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-09-30 DOI: 10.1016/j.strueco.2024.09.020

Jose Angelo Divino , Adriana Gomes da Silva

引用次数: 0

How does urban industrial structure upgrading affect green productivity? The moderating role of smart city development

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-09-26 DOI: 10.1016/j.strueco.2024.09.017

Di Wang , Y.F. Liang , Wei Dou

{"title":"How does urban industrial structure upgrading affect green productivity? The moderating role of smart city development","authors":"Di Wang , Y.F. Liang , Wei Dou","doi":"10.1016/j.strueco.2024.09.017","DOIUrl":"10.1016/j.strueco.2024.09.017","url":null,"abstract":"<div><div>The concept of the smart city, which has recently gained prominence as a new urbanization model, represents a practical approach to achieving a balance between economic development and environmental protection. This article analyzes the effect of upgrading urban industrial structures on green total factor productivity (GTFP) and addresses a gap in evaluating the mediating role of smart city development. Utilizing panel data from Chinese prefecture-level cities, the study finds that internal advancements and diversification in industrial structures significantly enhance GTFP, while industrial structure rationalization displays a complex, non-linear correlation with GTFP. Moreover, smart city development is found to positively moderate the relationship between industrial structure and productivity, particularly in terms of outer-advancement, diversification, and rationalization. The moderating effect is evident in green technical efficiency rather than green technological innovation. Cluster analysis reveals significant effects in regions characterized by irrational, diversified, and naturally rational industrial structures. Additionally, the study identifies five impact mechanisms facilitated by smart cities, namely ICT, finance development, digitalization, smart governance, and social trust. These conclusions are of material significance to promote high-quality urban development.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 133-149"},"PeriodicalIF":5.0,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143325792","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

Textile offshoring along global value chains (GVCs): Impacts on employment and gender wage gaps

IF 5 2区经济学

Structural Change and Economic Dynamics Pub Date : 2024-09-26 DOI: 10.1016/j.strueco.2024.09.014

Elena Calvo-Calvo, Rosa Duarte, Cristina Sarasa

{"title":"Textile offshoring along global value chains (GVCs): Impacts on employment and gender wage gaps","authors":"Elena Calvo-Calvo, Rosa Duarte, Cristina Sarasa","doi":"10.1016/j.strueco.2024.09.014","DOIUrl":"10.1016/j.strueco.2024.09.014","url":null,"abstract":"<div><div>Globalization has a significant impact on the international distribution of production, which in turn affects the global distribution of employment and income. Yet, previous studies have often overlooked the gender implications associated with the evolution of global value chains (GVCs). In this context, the textile sector is considered critical for explaining the most recent trends in female employment, particularly in developing countries.</div><div>The main objective of this paper is to examine the impacts of textile offshoring on female participation in the labor market and on gender employment and wage gaps between 1991 and 2019. Specifically, it aims to understand prior premises as the expected increase in female workers due to the delocalization of the sector, the implications of these premises when countries begin to upgrade and their role in reducing gender inequalities.</div><div>To achieve this, we devised a multi-sectoral and multi-regional input-output (MRIO) model with a high level of disaggregation of 189 countries and 26 sectors, expanded to include male and female jobs and wages by sector and country. We also conducted a structural decomposition analysis (SDA) on the forces driving the evolution of gender gaps.</div><div>Our findings show that the gender employment gap grew in the global textile sector between 1991 and 2019, caused primarily by the role played by China and India in the textile supply chain. Gender wage gaps continue to linger, however, despite having narrowed in most of the countries analyzed.</div></div>","PeriodicalId":47829,"journal":{"name":"Structural Change and Economic Dynamics","volume":"72 ","pages":"Pages 122-132"},"PeriodicalIF":5.0,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143325790","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