IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-24 DOI: 10.1016/j.chieco.2025.102399

Huanjun Zhu , Jialiang Zhu , Yulin Zhu

引用次数: 0

Did FinTech steal the cheese of banks? Evidence from Chinese firm exports 金融科技偷走了银行的奶酪吗？来自中国企业出口的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-20 DOI: 10.1016/j.chieco.2025.102392

Ling Feng , Zhiyuan Li , Yixuan Liu , Yahong Zhou

{"title":"Did FinTech steal the cheese of banks? Evidence from Chinese firm exports","authors":"Ling Feng , Zhiyuan Li , Yixuan Liu , Yahong Zhou","doi":"10.1016/j.chieco.2025.102392","DOIUrl":"10.1016/j.chieco.2025.102392","url":null,"abstract":"<div><div>The emergence and rapid growth of FinTech platforms may pose a potential threat to the traditional banking sector. In particular, the deposit draining or direct funds diversion of FinTech platforms may reduce bank loan supply to traditionally advantageous borrowers like exporters in the banking credit market. We investigate this potential threat by examining the impacts of FinTech emergence in China on its firm exports. We first construct a simple theoretical model, which shows that when FinTech emergence reduces bank loan supply, it will depress the exports of financially constrained firms, especially those heavily reliant on bank financing. Empirically, we find that the FinTech emergence in China was associated with reduced Chinese firm exports, particularly for firms with severe financial constraints, heavy reliance on bank loans and greater liquidity needs, but may be beneficial by providing alternative funding sources for sectors with greater financial vulnerability. The paper suggests that while FinTech challenges traditional bank loan supply and harms the advantageous borrowers in the bank credit market, it compensates those less reached by the banking sector, exhibiting characteristics of inclusive finance.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102392"},"PeriodicalIF":5.2,"publicationDate":"2025-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143724409","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 does monetary policy shock affect banks' loan loss provisioning behavior? Evidence from Chinese commercial banks 货币政策冲击如何影响银行的贷款损失拨备行为？来自中国商业银行的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-18 DOI: 10.1016/j.chieco.2025.102395

Yong Ma , Huanqi Lan

{"title":"How does monetary policy shock affect banks' loan loss provisioning behavior? Evidence from Chinese commercial banks","authors":"Yong Ma , Huanqi Lan","doi":"10.1016/j.chieco.2025.102395","DOIUrl":"10.1016/j.chieco.2025.102395","url":null,"abstract":"<div><div>This study examines the impact of monetary policy shocks on banks' loan loss provisioning behavior using panel data from Chinese commercial banks. We find robust evidence that a positive monetary policy shock negatively affects banks' loan loss provisions (LLPs), as banks adjust LLPs to enhance reported earnings and conceal risks during periods of monetary tightening. Further analysis reveals that banks with higher risk profiles or weaker risk resilience exhibit larger reductions in LLPs in response to monetary policy shocks. Additionally, stricter macroprudential policies and higher regulatory quality encourage banks to maintain higher levels of LLPs. We also find that during periods of credit contraction, banks are less likely to reduce LLPs to bolster future earnings, as doing so poses greater risks. The findings underscore the importance of maintaining transparent and stable monetary policy to prevent distortions in banks' loan loss provisioning behavior and highlight the need for effective regulations to ensure that banks remain healthy and maintain adequate LLPs, particularly during economic and financial downturns.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102395"},"PeriodicalIF":5.2,"publicationDate":"2025-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143682380","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 trade drives fluctuations in macroeconomics in China – A multi-level dynamic factor approach 贸易如何驱动中国宏观经济波动——多层次动态因素分析

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-17 DOI: 10.1016/j.chieco.2025.102393

Jianghuai Hou , Fang Wang , Ji Zhang

{"title":"How trade drives fluctuations in macroeconomics in China – A multi-level dynamic factor approach","authors":"Jianghuai Hou , Fang Wang , Ji Zhang","doi":"10.1016/j.chieco.2025.102393","DOIUrl":"10.1016/j.chieco.2025.102393","url":null,"abstract":"<div><div>Investigating how international trade with different regions and in different indus- tries affects the macroeconomy is crucial for policymaking and economic forecasting, particularly in the context of trade frictions. Using a dynamic hierarchical factor model (DHFM) and factor-augmented vector autoregression (FAVAR) model, we extract factors from extensive trade data to explore their impacts on and interactions with the macroeconomy.</div><div>Our findings reveal three key aspects. First, a positive shock to the overall trade factor generates positive macroeconomic effects, though with notable regional varia- tions. The OECD factor triggers inflationary pressures and monetary tightening in both China and the US, whereas the ASEAN factor leads to policy divergence—China opts for monetary easing against US tightening—accompanied by improved foreign direct investment (FDI) inflows and stock market performance. Second, in the in- dustry dimension, positive shocks to the medium-tech and high-tech manufacturing sector demonstrate sustained industrial growth and positive FDI trends, despite some financial market uncertainties. Third, regarding policy interactions, we find a contrac- tionary US monetary policy shock significantly impacts China's trade and macroeco- nomic cycles,whereas a contractionary Chinese monetary policy shock shows relatively ambiguous effects.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102393"},"PeriodicalIF":5.2,"publicationDate":"2025-03-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143682381","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

Moving out of agriculture: How trade liberalization affects agricultural productivity in China 走出农业：贸易自由化如何影响中国的农业生产力

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-13 DOI: 10.1016/j.chieco.2025.102388

Zhendong Ma , Di Wang , Fan Feng , Tianhui Zhao

{"title":"Moving out of agriculture: How trade liberalization affects agricultural productivity in China","authors":"Zhendong Ma , Di Wang , Fan Feng , Tianhui Zhao","doi":"10.1016/j.chieco.2025.102388","DOIUrl":"10.1016/j.chieco.2025.102388","url":null,"abstract":"<div><div>The literature on structural economic transformation often overlooks how structural changes affect agricultural development. This paper addresses that gap by examining the impact of the U.S. granting China permanent normal trade relations (PNTR) and China's subsequent WTO accession in 2002 on agricultural productivity. Using panel data from the National Fixed-Point Survey, a difference-in-differences analysis reveals that one standard deviation reduction in tariff uncertainty has led to a 7 % to 9 % decline in agricultural productivity, as measured by yields and total factor productivity. One mechanism is that the trade shock results in a notable decline in the number and share of agricultural laborers with higher human capital: those with higher physical strength, of prime working age, and more educated. The shift in human capital between economic sectors helps reconcile the discrepancy between this paper and literature on factor misallocation and productivity, which posits that reallocating excess labor from agriculture should improve productivity. <em>JEL Classification:</em> F14, F16, O13, O17.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102388"},"PeriodicalIF":5.2,"publicationDate":"2025-03-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143724535","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

Understanding the distributional effects of income uncertainty shocks 理解收入不确定性冲击的分配效应

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-13 DOI: 10.1016/j.chieco.2025.102377

Zhiwei Xu , Jianpo Xue , Zhewei Zhang

引用次数: 0

The impact of air pollution on crowdfunding donations for critical illnesses: Evidence from China 空气污染对重症众筹捐款的影响：来自中国的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-11 DOI: 10.1016/j.chieco.2025.102391

Sheng Hua , Huina Liu , Zheng Ji , Han Liang

引用次数: 0

The effect of electricity time-of-use plans: Evidence from the industrial sector in China 电力使用时间计划的影响：来自中国工业部门的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-11 DOI: 10.1016/j.chieco.2025.102390

Lingfang Li (Ivy) , Jiehong Qiu , Gang Fang

引用次数: 0

Achieving the synergy of pollution and carbon emission reductions: Can artificial intelligence applications work? 实现污染和碳减排的协同效应：人工智能应用能起作用吗？

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-11 DOI: 10.1016/j.chieco.2025.102389

Jie Dian , Shanmin Li , Tian Song

{"title":"Achieving the synergy of pollution and carbon emission reductions: Can artificial intelligence applications work?","authors":"Jie Dian , Shanmin Li , Tian Song","doi":"10.1016/j.chieco.2025.102389","DOIUrl":"10.1016/j.chieco.2025.102389","url":null,"abstract":"<div><div>Artificial intelligence (AI), a key driving force in a new wave of scientific and technological revolution, contributes to green improvements in industrial production processes. Its rapid development provides a potentially feasible path for China to achieve the synergistic effects of pollution and carbon emission reductions. This study expands the production task model to theoretically analyze the impact and mechanism of AI applications on the synergy of pollution and carbon emission reductions. On this basis, we utilized panel data from Chinese cities to conduct empirical tests. The results indicated that AI applications have a considerable synergistic effect on pollution and carbon emission reductions. Technological innovation, energy structure optimization, and labor substitution are identified as the primary channels. The effects vary by urban location, characteristics, and industry. Compared with those in eastern and central cities, AI applications in western cities have a more pronounced impact on emissions reduction. Factors such as low human capital, high financial development, and moderate fiscal expenditure are more conducive to the effective application of AI. Moreover, the demonstration and competitive functions of AI applications generate substantial spatial spillover effects. The findings provide valuable policy insights for promoting urban intellectualization and greenization.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102389"},"PeriodicalIF":5.2,"publicationDate":"2025-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143619760","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

Narrowing the digital divide: The growth and distributional effect of internet use on income in rural China 缩小数字鸿沟：中国农村互联网使用对收入的增长和分配效应

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-03-10 DOI: 10.1016/j.chieco.2025.102387

Tianyu Huang, Yiyue Quan

{"title":"Narrowing the digital divide: The growth and distributional effect of internet use on income in rural China","authors":"Tianyu Huang, Yiyue Quan","doi":"10.1016/j.chieco.2025.102387","DOIUrl":"10.1016/j.chieco.2025.102387","url":null,"abstract":"<div><div>Improving income and equality among rural residents remain significant concerns for economists and policymakers. The recent proliferation of information and communication technologies, such as the Internet, provides a promising way to increase income but leads to concern about the digital divide. Notably, data limitations and regional heterogeneity have restricted empirical studies from determining the growth and distributional effects of Internet penetration on the income of rural households, and how these effects correlate with the first-(physical access), second-(use patterns and skills), and third-(use outcomes) level digital divides. This paper empirically investigates the causal effect of Internet use on rural household income by employing the difference-in-difference, propensity score matching, and instrumental variables methods, using panel data from the China Family Panel Studies between 2010 and 2018. We find robust results that Internet use significantly increases the income of rural households, which means the presence of the first-level digital divide exacerbates inequality, although it is narrowing. Additionally, different Internet use purposes that correspond to the second-level digital divide also have an impact on income. Interestingly, our analysis for heterogeneity reveals that rural households with lower education levels and incomes, and those residing in less-developed areas benefit more from Internet use, suggesting no significant third-level digital divide was found between vulnerable populations and those who are not. Overall, these findings have important policy implications. Providing communication infrastructure and popularizing Internet-use skills in rural areas may help narrow the digital divide and advance the goal of inclusive growth.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"91 ","pages":"Article 102387"},"PeriodicalIF":5.2,"publicationDate":"2025-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143643810","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

中国经济评论最新文献