IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-05-01 Epub Date: 2026-05-04 DOI: 10.1016/j.chieco.2026.102722

Ying Fan, Hengtai Yu

{"title":"Information leverage: Housing market dynamics in public rehabilitation projects","authors":"Ying Fan, Hengtai Yu","doi":"10.1016/j.chieco.2026.102722","DOIUrl":"10.1016/j.chieco.2026.102722","url":null,"abstract":"<div><div>This study investigates information leverage in Hong Kong's housing market in the context of public rehabilitation projects. Analyzing transaction dynamics across two waves of public rehabilitation schemes, we find that rehabilitation projects yield positive price premiums, with a much stronger effect after completion, suggesting that market opacity and delayed information diffusion contribute to underpricing during the announcement phase. Categorizing rehabilitation intensity into Externally Observable (street-level repairs), Internally Observable (interior upgrades), and Structurally Embedded (non-visible upgrades), we uncover market asymmetries, where informed buyers, particularly those aware of Structurally Embedded Rehabilitation, strategically acquire properties at undervalued prices before these gains are realized in the housing market, leveraging their information advantage. Additionally, based on visibility network analysis of building orientation and sewage infrastructure mapping, we show information extends beyond individual transactions to shape neighborhood-wide housing market dynamics through aesthetic and amenity effects, with visual enhancement insufficient to fully account for the neighborhood effect and the limited sensitivity to distance preserving the role for information leverage.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"98 ","pages":"Article 102722"},"PeriodicalIF":5.5,"publicationDate":"2026-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147951924","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

China and the world economy: Pathways of resilience, innovation, and transformation 中国与世界经济：韧性、创新与转型之路

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-02-16 DOI: 10.1016/j.chieco.2026.102675

Tariq H. Malik , Xiangjun Ma , Jack Hou

引用次数: 0

Corrigendum to ‘Innovation at crossroads: The effect of merger and acquisition on inventors’ creativity’ [China Economic Review 97 (2026) 102692] “十字路口的创新：并购对发明者创造力的影响”的勘误表[中国经济评论97 (2026)102692]

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-04-02 DOI: 10.1016/j.chieco.2026.102698

Xiaohua Bao , Wen Ruan , Yaning Wei , Wentao Wu

引用次数: 0

Diverse roots and thriving ventures: Unveil the impact of cultural diversity on China’s entrepreneurship development 多元根源，繁荣创业：揭示文化多样性对中国创业发展的影响

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-03-11 DOI: 10.1016/j.chieco.2026.102689

Wanting Xu, Shuai Shi, Ruiyang Wang

{"title":"Diverse roots and thriving ventures: Unveil the impact of cultural diversity on China’s entrepreneurship development","authors":"Wanting Xu, Shuai Shi, Ruiyang Wang","doi":"10.1016/j.chieco.2026.102689","DOIUrl":"10.1016/j.chieco.2026.102689","url":null,"abstract":"<div><div>While a robust relationship between cultural diversity and entrepreneurship is established in Western economies, this relationship remains underexplored in China. This article challenges the prevailing view of China as a “singular culture economy” by quantifying China’s cultural diversity introduced by its varied regional cultures and massive internal migration. Leveraging migrants’ ancestral dialects and foodways to construct dynamic diversity measures, we identify the causal impact of cultural diversity on urban entrepreneurship through an instrumental variable approach. We find that migrants’ dialect and food diversity significantly drive firm formation, venture capital investments, and self-employment. Further, mechanism tests reveal that cultural diversity promotes entrepreneurship by catalyzing technological innovation, accumulating human capital and expanding social networks. This article advances Knowledge Spillover Theory of Entrepreneurship by demonstrating that informal cultural institutions serve as critical recombinant assets in the entrepreneurial ecosystem, suggesting that policy frameworks must evolve from purely credential-based attraction to cultural capital leverage.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"97 ","pages":"Article 102689"},"PeriodicalIF":5.5,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147612221","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 child penalty in the rental housing market: Do landlords discriminate couples with children? 租房市场的孩子惩罚：房东歧视有孩子的夫妇吗？

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-04-06 DOI: 10.1016/j.chieco.2026.102701

Ziming Liu , Xinrui Wu , Zihan Yu , Zhaoyingzi Dong , Jens Rommel

引用次数: 0

Vertical integration and social welfare: Evidence from China's electric vehicle industry 垂直整合与社会福利：来自中国电动汽车产业的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-03-31 DOI: 10.1016/j.chieco.2026.102699

Guodong Li , Yong Tan , Ying Zhu

引用次数: 0

From farm to firewall: E-commerce and the growth of new occupational opportunities 从农场到防火墙：电子商务和新职业机会的增长

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-04-01 Epub Date: 2026-03-12 DOI: 10.1016/j.chieco.2026.102693

Ling Ma , Jun Wang , Shanyong Wang

{"title":"From farm to firewall: E-commerce and the growth of new occupational opportunities","authors":"Ling Ma , Jun Wang , Shanyong Wang","doi":"10.1016/j.chieco.2026.102693","DOIUrl":"10.1016/j.chieco.2026.102693","url":null,"abstract":"<div><div>China has emerged as the world's largest e-commerce market, reshaping the structure of labor markets and potentially expanding employment opportunities. This study examines whether the rapid expansion of rural e-commerce, via the <em>E</em>-commerce into the Countryside (ECC) policy, has facilitated intergenerational occupational mobility. Leveraging nationally representative household survey data comprising 8329 household-level observations spanning from 2012 to 2022 and a staggered difference-in-differences (DID) design, we identify a significant positive effect of the ECC initiative, with an estimated 10.6% point increase in intergenerational occupational mobility. These findings are robust to a series of endogeneity corrections and sensitivity tests. To unpack the underlying mechanisms, we show that the ECC policy promotes intergenerational occupational mobility by narrowing the digital divide, enhancing access to social capital, and disrupting entrenched traditional occupational trajectories. Our heterogeneity analysis further reveals that the magnitude of the effect of ECC policy depends on the local capacity to implement digital infrastructure and institutional support—particularly in regions that have developed multi-level rural e-commerce service platforms, modern logistics networks, diversified digital talent pools, and advanced rural e-commerce industrial clusters. Beyond occupational shifts, we also assess the influence of ECC policy on intergenerational income mobility. While the overall effect is statistically insignificant, we find that the complementary institutional mechanisms, such as agricultural cooperatives, can amplify the income mobility potential of e-commerce initiatives. The study concludes with policy recommendations aimed at deepening digital infrastructure, strengthening rural institutions, and promoting inclusive economic development.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"97 ","pages":"Article 102693"},"PeriodicalIF":5.5,"publicationDate":"2026-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147612222","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 hysteresis effects of investment shocks in China 中国投资冲击的滞后效应

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-23 DOI: 10.1016/j.chieco.2026.102669

Zixiang Zhu, Weimin Zhou, Yake Wen

引用次数: 0

How do very small businesses survive in a rent-seeking society? Evidence from China 小型企业如何在寻租社会中生存？来自中国的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-29 DOI: 10.1016/j.chieco.2026.102661

Yongjing Zhang , Zhiqiang Dong , Xiahai Wei

{"title":"How do very small businesses survive in a rent-seeking society? Evidence from China","authors":"Yongjing Zhang , Zhiqiang Dong , Xiahai Wei","doi":"10.1016/j.chieco.2026.102661","DOIUrl":"10.1016/j.chieco.2026.102661","url":null,"abstract":"<div><div>This study identifies very small businesses (VSBs) as survival-oriented entrepreneurs. Using a unique survey of 1450 VSB owners (with fewer than 50 employees) across China, combined with regional fiscal and institutional data, we provide the first micro-level evidence on how VSBs allocate entrepreneurial efforts to enhance survival in a rent-seeking society.</div><div>We classify VSBs along three dimensions: whether they are subject to governmental apportion, operate in new technological industries, or possess political connections. Our findings reveal that VSBs generally relinquish attempts to win rent-seeking contests or resist rent extraction. With the exception of those in new technological sectors, VSBs increase productive—but not unproductive—activities, benefiting from spillover effects generated by rent-seeking among larger firms. VSBs not subject to government apportion reduce rent- seeking efforts when rent-seeking opportunities expand. Finally, politically connected VSBs do not adjust their entrepreneurial efforts in response to institutional improvements but increase innovation after property rights are secured through government ties. In summary, a rent-seeking society presents both opportunities and obstacles for VSBs, including those without political connections.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102661"},"PeriodicalIF":5.5,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146189567","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

Political gestures or tightening mandates? New evidence for campaign-style environmental intervention in China 政治姿态还是严格的指令？运动式环境干预在中国的新证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-02-02 DOI: 10.1016/j.chieco.2026.102670

Jianglong Li , Shiqiang Sun , Guanfei Meng , Hongxun Liu

{"title":"Political gestures or tightening mandates? New evidence for campaign-style environmental intervention in China","authors":"Jianglong Li , Shiqiang Sun , Guanfei Meng , Hongxun Liu","doi":"10.1016/j.chieco.2026.102670","DOIUrl":"10.1016/j.chieco.2026.102670","url":null,"abstract":"<div><div>This study investigates China's campaign-style environmental interventions during politically sensitive periods, addressing whether pollution abatement reflects transient political signaling or durable regulatory tightening. Leveraging daily data from 110 Chinese cities (2014–2020) surrounding President Xi's inspection tours, we employ regression discontinuity in time and difference-in-differences designs to disentangle short-term versus sustained effects. Results reveal significant pollution rebound post-inspections, predominantly driven by lifted traffic restrictions rather than industrial controls. However, medium-term analysis demonstrates that inspections catalyze lasting improvements when accompanied by strong environmental rhetoric, with effects sustained through intensified routine enforcement. Regional heterogeneity shows northern cities achieve larger SO₂ reductions despite greater structural challenges. The findings reveal that campaign-style interventions generate both short-term political gestures and medium-term institutional tightening, with the transition to routine governance producing environmental benefits when political signals are sufficiently strong.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102670"},"PeriodicalIF":5.5,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146189570","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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