IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-16 DOI: 10.1016/j.chieco.2025.102461

Xin Dai , Jie Tang , Deyun Yin

{"title":"Science and city: Exploring science's contribution to China's urban technological innovation","authors":"Xin Dai , Jie Tang , Deyun Yin","doi":"10.1016/j.chieco.2025.102461","DOIUrl":"10.1016/j.chieco.2025.102461","url":null,"abstract":"<div><div>Although science plays an ever more vital role in the modern knowledge economy, its influence over regional innovation remains highly uneven across space. Using panel data of 269 Chinese cities from 2000 to 2017, this paper investigates the spatial dynamics between local scientific knowledge and regional technological innovation. Our results reveal that: (1) local scientific knowledge, including applied science and basic science, significantly enhances regional innovation output, with persistent effects diminishing over time. (2) The efficiency of scientific knowledge's transformation varies across city scales: medium and mega cities convert science into innovation more efficiently, while only super cities can turn basic science into highly original breakthrough inventions. (3) Within metropolitan regions, science-intensive cities foster outward knowledge spillover beyond their administrative boundaries thus provide knowledge sources for innovation in much wider areas, whereas industry-specialized cities’ innovation benefits from both local and external scientific inputs. (4) Mechanism analysis highlights that regional absorptive capacity and university-industry collaboration are key channels, while interactions with local innovation ecosystems and supporting environments further facilitate such transformation process. This paper offers rich policy implications for fostering science-led regional development through tailored place-based urban innovation strategies.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102461"},"PeriodicalIF":5.2,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144365501","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

Misallocation in China: Evidence from China's business registration reform 中国的错配：来自中国工商登记制度改革的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-16 DOI: 10.1016/j.chieco.2025.102452

Xiaoying Yang , Bo Jiang , Ye Bai , Liang Fu , Bozhen Liu

{"title":"Misallocation in China: Evidence from China's business registration reform","authors":"Xiaoying Yang , Bo Jiang , Ye Bai , Liang Fu , Bozhen Liu","doi":"10.1016/j.chieco.2025.102452","DOIUrl":"10.1016/j.chieco.2025.102452","url":null,"abstract":"<div><div>This study investigates the impact of entry deregulation on resource misallocation by exploring a pilot of China's business registration reform in Guangdong province. We use a staggered difference-in-differences approach and show that the reform increased capital and labor inputs by 82.2 % and 38.3 %, respectively, in high-productivity compared to low-productivity industries. These increases led to a convergence in productivity, as high-productivity industries experienced declines of 49.6 % and 37.4 %, respectively in capital and labor productivity. For firms in the same industry, the deregulation resulted in 28.6 % and 27.9 % increases in capital and labor inputs and 32.5 % and 32.2 % reductions in capital and labor productivity for high-productivity relative to low-productivity firms. Our findings suggest that the reform facilitated resource reallocation across industries and improved efficiency by channeling capital toward more productive firms within the same sector, reducing misallocation at the inter- and intra-industry levels. The results of this paper offer insights regarding the reform of new business registration through the amendment of China's company law.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102452"},"PeriodicalIF":5.2,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144312794","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

Cultivating equality: The effect of traditional farming practices on gender disparity in China 培育平等：中国传统农耕方式对性别差异的影响

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-16 DOI: 10.1016/j.chieco.2025.102455

Jun Wang , James B. Ang

{"title":"Cultivating equality: The effect of traditional farming practices on gender disparity in China","authors":"Jun Wang , James B. Ang","doi":"10.1016/j.chieco.2025.102455","DOIUrl":"10.1016/j.chieco.2025.102455","url":null,"abstract":"<div><div>This study explores the impact of labor demand in traditional farming on contemporary gender equality in China. We hypothesize that regions characterized by agro-climatic conditions favorable to labor-intensive crop cultivation historically fostered greater involvement of female family members in agricultural work. Such participation not only contributed to household income but also elevated women’s social status. To examine this hypothesis, we analyze county-level data on labor input requirements for major crops in China. The results indicate that regions with higher agricultural labor demand exhibit more balanced sex ratios at birth. Tests on potential mechanisms suggest that the historical need for female farm labor prompted shifts in gender perceptions, reshaping social attitudes and norms toward greater equity that persist to the present. These findings support the notion that the roots of contemporary gender equality can be traced to women’s historical participation in farming and highlight the importance of improving women’s access to land and labor market opportunities to address persistent gender disparities.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102455"},"PeriodicalIF":5.2,"publicationDate":"2025-06-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144321667","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 power of policy words: PBC communications and their impact on capital flows amidst global crises 政策话语的力量：中国人民银行的沟通及其对全球危机中资本流动的影响

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-13 DOI: 10.1016/j.chieco.2025.102475

Yue Qiu , Kaixin Wang , Wenjing Xie , Xiangzhong Zheng

{"title":"The power of policy words: PBC communications and their impact on capital flows amidst global crises","authors":"Yue Qiu , Kaixin Wang , Wenjing Xie , Xiangzhong Zheng","doi":"10.1016/j.chieco.2025.102475","DOIUrl":"10.1016/j.chieco.2025.102475","url":null,"abstract":"<div><div>This paper investigates the strategic role of the People's Bank of China's (PBC) monetary policy communications in shaping international capital flows, particularly during periods of economic uncertainty and crisis. By developing and applying a novel semi-supervised machine learning method to analyze the content of PBC's policy announcements, we extract thematic insights that have significantly influenced global investment behaviors. Our findings reveal that the nuances in PBC's communication have had a pronounced impact on the allocation of international capital, with significant shifts observed during the 2008 global financial crisis and the COVID-19 pandemic. The research demonstrates how subtle changes in communicated topics, ranging from inflation and regulation to macroeconomic uncertainties, resonate with and redirect global investor sentiments and strategies. This study underscores the critical role of the PBC in China's open economy during crises and the broader impact of central bank communications on the global financial system, providing essential insights for policymakers and investors navigating international capital flows in times of crisis.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102475"},"PeriodicalIF":5.2,"publicationDate":"2025-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144312793","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 should we assess fiscal policies in response to emerging development challenges? 我们应如何评估财政政策以应对新出现的发展挑战？

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-13 DOI: 10.1016/j.chieco.2025.102477

Nanak Kakwani , Hyun H. Son

引用次数: 0

The unintended consequence of human capital intensity on energy intensity: Evidence from China 人力资本密集度对能源密集度的意外影响：来自中国的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-11 DOI: 10.1016/j.chieco.2025.102473

Yang Xu , Wenbin Xiang , Peng Du , Liang Cao

引用次数: 0

Blowin’ in the wind: Smog and suicidal ideation among school-age children 在风中飘荡：雾霾和学龄儿童的自杀意念

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-11 DOI: 10.1016/j.chieco.2025.102478

Xin Zhang , Xi Chen , Hong Sun , Yuanjian Yang

引用次数: 0

Ownership concentration and independent director effectiveness: Governance challenges under China's new company law 股权集中度与独立董事有效性：中国新公司法下的治理挑战

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-10 DOI: 10.1016/j.chieco.2025.102474

Yanqiao Zheng

{"title":"Ownership concentration and independent director effectiveness: Governance challenges under China's new company law","authors":"Yanqiao Zheng","doi":"10.1016/j.chieco.2025.102474","DOIUrl":"10.1016/j.chieco.2025.102474","url":null,"abstract":"<div><div>The recently amended Company Law of China, effective July 2024, introduces new provisions aimed at strengthening the role of independent directors. This paper analyzes the impact of ownership concentration on independent directors' dissent in Chinese listed firms, drawing on board proposal and regulatory letter data. Results indicate that higher ownership concentration significantly suppresses dissent, highlighting governance challenges inherent to concentrated ownership structures. Specifically, a one-standard-deviation increase in ownership concentration, proxied by the Herfindahl index of the top three shareholders, reduces the likelihood of dissent by 0.06 %, a substantial decline given the average dissent rate of 0.42 %. Robustness checks, including alternative concentration indices and instrumental variable approaches, validate these findings. Heterogeneity analysis reveals that ownership concentration most strongly suppresses dissent in matters concerning personnel changes, related-party transactions, equity changes, and investments, and in industries such as the Real Estate and Information Technology sectors. The paper also contrasts director qualifications, highlighting that Chinese directors are predominantly academics, whereas their U.S. counterparts typically have senior business experience, potentially affecting their oversight capabilities. Low remuneration and the absence of penalties further reduce the incentive for Chinese independent directors to dissent. Consequently, dissent by independent directors has limited value of internal oversight, with only 11 out of 4784 regulatory letters linked to prior dissent. The paper proposes stricter nomination procedures, performance-based compensation tied to governance outcomes with punitive measures for non-compliance, and tailored training programs to improve oversight. These reforms are crucial for strengthening corporate governance and safeguarding minority shareholder interests in high-concentration environments.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102474"},"PeriodicalIF":5.2,"publicationDate":"2025-06-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144280833","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

From welfare enterprises to broad tax incentives: Effects of employment policy changes on disabled in China 从福利企业到广泛的税收优惠：中国就业政策变化对残疾人的影响

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-06 DOI: 10.1016/j.chieco.2025.102451

Muyi Li , Yamo Wang , Yang Yue

{"title":"From welfare enterprises to broad tax incentives: Effects of employment policy changes on disabled in China","authors":"Muyi Li , Yamo Wang , Yang Yue","doi":"10.1016/j.chieco.2025.102451","DOIUrl":"10.1016/j.chieco.2025.102451","url":null,"abstract":"<div><div>This study evaluates the shift in China's disability employment strategy from welfare enterprise systems to tax incentives using data from the China Health and Retirement Longitudinal Study (2011−2020). By applying Propensity Score Matching-Difference-in-Differences methodology, the study examines the impacts of the 2016 tax incentive policy on employment outcomes for middle-aged and elderly disabled individuals. Contrary to policy expectations, the findings reveal a decline in employment rates and weekly working hours for disabled individuals compared to their non-disabled peers. The dismantling of welfare enterprises, which previously provided stable jobs for disabled workers, contributed to this outcome. Economically disadvantaged and less-educated groups experienced the most severe setbacks, highlighting the uneven distribution of the policy's impacts. Structural barriers, including high compliance costs and employer biases, further constrained the policy's effectiveness. This study concludes that the current policy framework falls short of achieving its intended goals. Targeted interventions, such as workplace accommodations, subsidies, and vocational training, are crucial to addressing structural challenges and enhancing the inclusivity of disability employment policies.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102451"},"PeriodicalIF":5.2,"publicationDate":"2025-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144262071","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

Do policies reshape attitudes? Evidence from maternity leave expansion in China 政策会重塑态度吗？中国产假扩大的证据

IF 5.2 1区经济学

中国经济评论 Pub Date : 2025-06-03 DOI: 10.1016/j.chieco.2025.102462

Chen Huang, Ning Jia

{"title":"Do policies reshape attitudes? Evidence from maternity leave expansion in China","authors":"Chen Huang, Ning Jia","doi":"10.1016/j.chieco.2025.102462","DOIUrl":"10.1016/j.chieco.2025.102462","url":null,"abstract":"<div><div>Maternity leave system has been established in most countries to support gender equality, with a worldwide growing trend towards expanding its durations. However, by emphasizing women's household responsibilities relative to men, expanded maternity leave durations could reinforce traditional gender role attitudes in the population. This paper explores a recent maternity leave expansion in China, the world's largest developing country with traditional gender norms. Based on the difference-in-differences approach, we show that longer maternity leave significantly reinforced individuals' traditional attitudes towards gender roles in the labor market and within households. The impacts are larger among males than among females, and mainly driven by men who initially held traditional views. The results also show a considerable shift towards traditional gender division of paid work and household responsibilities. Women's lower visibility in the workplace due to the reduced market demand may lead to the attitudinal changes. Overall, findings from this study highlight the role of policies in shaping public attitudes and the importance of incorporating gender-neutral policies in achieving gender equality.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"93 ","pages":"Article 102462"},"PeriodicalIF":5.2,"publicationDate":"2025-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144253836","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