IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-11-09 DOI: 10.1016/j.chieco.2024.102302

Wei Dai, Zhongxin Ni, Enping Yu

{"title":"Quenching thirst, easing debt: Improvement in water resource endowment alleviates local government debt risk","authors":"Wei Dai, Zhongxin Ni, Enping Yu","doi":"10.1016/j.chieco.2024.102302","DOIUrl":"10.1016/j.chieco.2024.102302","url":null,"abstract":"<div><div>Water resources serve as a vital pillar sustaining both economic activities and daily life for residents. However, the uneven distribution of water resources across time and space has made water scarcity a bottleneck factor restricting the economic and social development of some regions. The implementation of the South-to-North Water Diversion project provides an excellent quasi-natural experiment for in-depth research on the effects and influence mechanism of cross-regional productive factor allocation on economic development. This study focuses on whether the water resource endowment improvement is reflected on the capital market. Based on the trading data of urban construction investment bonds from 2011 to 2016, we empirically examine how the South-to-North Water Diversion project affects the local government financing costs. The results indicate that the water diversion project significantly reduces the credit spread of urban construction investment bonds from the water-receiving areas. Further analysis reveals that the water diversion project improves the economic fundamentals and increases the land sales revenue of the water receiving cities, enhancing local governments' implicit guarantee ability for the financing platforms, thereby reducing the credit risks of urban construction investment bonds. This study not only enriches the research on the determinants of credit risk for urban construction investment bonds, but also provides empirical evidence from the capital market that the coordinated allocation of productive factors promotes regional balanced development. The conclusions imply that the government should actively advance the corresponding infrastructure construction and institutional arrangements to promote the flow and complementarity of economic elements between regions.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102302"},"PeriodicalIF":5.2,"publicationDate":"2024-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142657347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Infrastructure and the patterns of trade: An empirical look at China 基础设施与贸易模式：中国的经验观察

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-11-06 DOI: 10.1016/j.chieco.2024.102296

Shuaihang Li , Qihong Liu , Qing Liu

{"title":"Infrastructure and the patterns of trade: An empirical look at China","authors":"Shuaihang Li , Qihong Liu , Qing Liu","doi":"10.1016/j.chieco.2024.102296","DOIUrl":"10.1016/j.chieco.2024.102296","url":null,"abstract":"<div><div>Transport infrastructure plays an important role in economic growth, particularly for developing countries. Recently a burgeoning literature explores how transport infrastructure facilitates economic growth via the channel of trade. In this paper, we study this question in the context of China, but with several distinctions. First, we distinguish firms from different regions in China, and see how their trade behavior responds differently to changes in infrastructure. Second, we consider both export and domestic sales, with an eye toward the interplay between the two channels. Our estimation results reveal the presence of both regional heterogeneity and sales channel competition. For in-land provinces, an improvement in their transport infrastructure raises firms’ exports at the cost of domestic sales. Interestingly, the results are reversed for coastal provinces, mainly driven by non-coastal cities of coastal provinces (rather than coastal cities). We also find negative spatial spillover, in the sense that neighboring provinces tend to compete with rather than complement each other. Our analysis has important policy implications under the current geopolitical tension and policy initiatives (e.g. dual circulation in China).</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102296"},"PeriodicalIF":5.2,"publicationDate":"2024-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142657274","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Cognitive ability in matching with strategic uncertainty: An experimental study 战略不确定性匹配中的认知能力：实验研究

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-11-06 DOI: 10.1016/j.chieco.2024.102295

Xinquan Hu , Lan Yao

{"title":"Cognitive ability in matching with strategic uncertainty: An experimental study","authors":"Xinquan Hu , Lan Yao","doi":"10.1016/j.chieco.2024.102295","DOIUrl":"10.1016/j.chieco.2024.102295","url":null,"abstract":"<div><div>Strategyproof mechanisms have become the predominant choice for educational institutions. However, both laboratory experiments and empirical evidence highlight the persistent occurrence of strategic misreporting, leading to adverse consequences. This underscores the need to examine the reporting strategies of students, particularly those with varying cognitive abilities, across different decision environments. We present an experimental comprehension test of reporting strategies using computerized opponents to precisely control the levels of strategic uncertainty. The results reveal that removing strategic uncertainty does not significantly affect truth-telling rates. However, subjects with median cognitive ability are more truthful under strategic uncertainty, especially when information is incomplete. Additionally, providing information about priorities has a negative and significant impact on truth-telling rates. The findings of this research demonstrate that constructing a simplified market environment using computerized agents and providing relevant feedback to students can effectively enhance their understanding of the matching mechanism and nudge them to make optimal strategy choices.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102295"},"PeriodicalIF":5.2,"publicationDate":"2024-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142657346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Follow the gaze: How social attention shapes gendered trading choices 追随目光：社会关注如何影响性别交易选择

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-11-05 DOI: 10.1016/j.chieco.2024.102301

Xiaolan Yang , Xiaotong Fang , Mei Gao , Lucy F. Ackert , Li Qi

引用次数: 0

Did the anti-avoidance rules curtail the profit shifting of foreign multinationals in China? 反避税规则是否遏制了外国跨国公司在中国的利润转移？

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-11-03 DOI: 10.1016/j.chieco.2024.102299

Mantian Xue

引用次数: 0

Intergenerational preference transmission in physician families during the pandemic: Theory and evidence 大流行病期间医生家庭的代际偏好传递：理论与证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-10-29 DOI: 10.1016/j.chieco.2024.102298

Yiting Guo, Lijia Wei, Lian Xue

{"title":"Intergenerational preference transmission in physician families during the pandemic: Theory and evidence","authors":"Yiting Guo, Lijia Wei, Lian Xue","doi":"10.1016/j.chieco.2024.102298","DOIUrl":"10.1016/j.chieco.2024.102298","url":null,"abstract":"<div><div>We examine the intergenerational transmission of economic preferences among physicians by analyzing the altruistic and risk preferences of medical students and one of their parents through incentivized experiments in Wuhan. Our findings reveal that altruism in parents is a strong predictor of similar traits in their children, demonstrating the <em>intergenerational transmission</em> of pro-social traits. Moreover, these children are more likely to choose a medical major, reflecting a tendency to <em>self-select</em> into the medical field based on altruistic inclinations. This self-selection effect has been augmented post-pandemic. These medical families are more likely to form a distinct <em>family cluster</em> characterized by higher levels of risk-taking and altruistic preferences. We propose a theoretical framework capturing the intergenerational preference transmission and family-wise self-selection among future physicians. Our research has important policy implications, suggesting that enhancing intra-household support can effectively address the chronic labor shortfall in the medical industry.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102298"},"PeriodicalIF":5.2,"publicationDate":"2024-10-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142586356","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

How motivations and costs affect financial knowledge learning? Evidence from a large-scale FinTech experiment in China 动机和成本如何影响金融知识学习？来自中国大规模金融科技实验的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-10-22 DOI: 10.1016/j.chieco.2024.102294

Xuefeng Pan , Qin Su , Haibo Lei

引用次数: 0

The long-term cognitive and schooling effects of childhood vaccinations in China 中国儿童接种疫苗对认知和学校教育的长期影响

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-10-20 DOI: 10.1016/j.chieco.2024.102293

Hamid R. Oskorouchi , Alfonso Sousa-Poza , David E. Bloom

引用次数: 0

Unveiling the shadows: School bullying and students' ability erosions in Chinese compulsory schools 揭开阴影中国义务教育阶段校园欺凌与学生能力消退

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-10-18 DOI: 10.1016/j.chieco.2024.102292

Yunsen Li , Dan He , Yilin Wang , Guochang Zhao , Jing Yang

{"title":"Unveiling the shadows: School bullying and students' ability erosions in Chinese compulsory schools","authors":"Yunsen Li , Dan He , Yilin Wang , Guochang Zhao , Jing Yang","doi":"10.1016/j.chieco.2024.102292","DOIUrl":"10.1016/j.chieco.2024.102292","url":null,"abstract":"<div><div>Drawing upon data from the National Children's Study of China, this research investigates the school bullying victimization and its associations with the ability erosions among students in Chinese schools. Three key findings emerge. First, results suggest that the primary factors affecting bullying victimization mainly include authoritarian parenting, limited positive social interactions on campus, adverse experiences, and exposure to teacher and peer smoking. Second, estimates indicate that bullying victimization is significantly associated with ability erosions, particularly among students from relatively advantaged backgrounds. The further Oster's test, falsification test, and reverse causality check confirm the validity of the associations and suggest some causal effect of victimization on the student outcomes. Lastly, the Oaxaca-Blinder decomposition shows that lower human capital investments derived from social interactions are the most significant contributors to the ability erosion linked to bullying victimization. These findings highlight the critical importance of social interactions both at home and in schools.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102292"},"PeriodicalIF":5.2,"publicationDate":"2024-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142529587","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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 deterrent effect of environmental judicature on firms' pollution emissions: Evidence from a quasi-natural experiment in China 环境司法对企业污染排放的威慑效应：来自中国准自然实验的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2024-10-11 DOI: 10.1016/j.chieco.2024.102291

Peng Zhou , Xiaoqi Huang , Frank M. Song

{"title":"The deterrent effect of environmental judicature on firms' pollution emissions: Evidence from a quasi-natural experiment in China","authors":"Peng Zhou , Xiaoqi Huang , Frank M. Song","doi":"10.1016/j.chieco.2024.102291","DOIUrl":"10.1016/j.chieco.2024.102291","url":null,"abstract":"<div><div>This paper investigates the deterrent effect of environmental judicature on firms' pollution emissions. Regarding the establishment of environmental courts (ECs) in China as a quasi-natural experiment, our staggered Difference-in-Differences (DID) estimation shows that strengthening environmental judicature has a negative, causal effect on firms' pollution emissions. The exogenous establishment of ECs decreases industrial firms' pollution emission intensity by approximately 7.8 %. Heterogeneity analysis shows that the negative effect of ECs on pollution emissions is particularly salient for firms in regions with weak environmental awareness, firms in industries with low competition, and firms with a high intensity of pollution emissions. Mechanism analysis indicates that the establishment of ECs enhances environmental justice and increases environmental violation costs, thereby having a deterrent effect on firms' pollution emissions. To comply with the more stringent environmental judicature, firms located in cities with ECs may temporarily cut their production, use more clean energy and buy more desulfurization equipment. In the long term, they may engage in more green and cooperative innovations, further substantiating the deterrent impact of stringent environmental judicature. Our findings can offer valuable insights for corporate green transformation and government pollution control.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"88 ","pages":"Article 102291"},"PeriodicalIF":5.2,"publicationDate":"2024-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442885","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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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