中国经济评论最新文献

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The impact of the host country's imports of Chinese digital products on carbon decoupling status 东道国进口中国数字产品对碳脱钩状态的影响
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-08-07 DOI: 10.1016/j.chieco.2025.102526
Yibing Ding, Xiaoou Zhang, Ziwei Liu, Yining Sun
{"title":"The impact of the host country's imports of Chinese digital products on carbon decoupling status","authors":"Yibing Ding,&nbsp;Xiaoou Zhang,&nbsp;Ziwei Liu,&nbsp;Yining Sun","doi":"10.1016/j.chieco.2025.102526","DOIUrl":"10.1016/j.chieco.2025.102526","url":null,"abstract":"<div><div>This paper incorporates both the carbon emission and economic development imperatives of host countries and applies the Tapio decoupling model to identify their decoupling status. Based on this assessment and in light of the evolving global landscape of digital trade, we construct a balanced panel dataset covering 176 countries from 2003 to 2020 to examine the impact of digital product imports from China—the world's largest exporter—on the green and sustainable development of other economies, as well as the underlying mechanisms. Empirical findings reveal that imports of Chinese digital products contribute to the improvement of host countries' carbon decoupling status. This positive effect operates primarily through two channels: the enhancement of green technological innovation and the increase in green total factor productivity. The effect is more pronounced among Belt and Road Initiative partner countries, nations with lower energy endowments, non-OECD members, and developing economies. Moreover, deeper integration into digital trade governance frameworks further amplifies the efficacy of Chinese digital products. The results of this paper provide theoretical references and practical insights for fully exploiting the efficacy of digital products of China, promoting the progress of green technology, and realizing the synergistic development of economic growth and environmental governance.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102526"},"PeriodicalIF":5.5,"publicationDate":"2025-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144840875","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 geographical indication products impact agricultural economic resilience: Evidence from China 地理标志产品如何影响农业经济弹性:来自中国的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-08-07 DOI: 10.1016/j.chieco.2025.102527
Kaicheng Liao , Chunyan Li , Lei Jiang
{"title":"How geographical indication products impact agricultural economic resilience: Evidence from China","authors":"Kaicheng Liao ,&nbsp;Chunyan Li ,&nbsp;Lei Jiang","doi":"10.1016/j.chieco.2025.102527","DOIUrl":"10.1016/j.chieco.2025.102527","url":null,"abstract":"<div><div>Geographical indication (GI) products, as intellectual property closely tied to agriculture, rural areas, and farmers, significantly enhance agricultural economic resilience (AER). Using city-level data from 1996 to 2022, this study examines the impact of GI products on AER and its sub-dimensions. The findings reveal that GI products significantly improve AER. Further research reveals that Sunshine and historical-cultural factors play significant moderating roles in the mechanism through which GI products affect the resilience of the agricultural economy. Sunshine exhibit a positive moderating effect in the process where GI products enhance the risk resilience capacity (Risk) and green transformation capacity (Green). Historical-cultural factors also play a positive moderating role in facilitating the improvement of GI products' capacity to promote Green. Geographical characteristics and transportation networks create significant heterogeneity in the impact of GI products. Plains and plateau regions show stronger resilience improvements, while areas with developed transportation networks excel in Risk and Green. Further analysis indicates that during the integrated protection strengthening phase (post-2018), GI products more significantly enhance AER, Risk, and adaptive adjustment capacity (AAC), but not Green. This suggests that green transformation depends more on long-term factors like technological progress and environmental policies. Additionally, cities with stronger communication capabilities exhibit greater economic effects from GI products. Tourism and other communication channels amplify these effects by boosting consumer recognition of “origin reputation.” Based on these findings, this study recommends strengthening GI product protection, leveraging natural and historical-cultural advantages, improving transportation infrastructure, and fully unlocking the potential of GI products to enhance AER.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102527"},"PeriodicalIF":5.5,"publicationDate":"2025-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144829905","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 government fiscal decentralization shapes bank competition dynamics: City-level evidence from China 政府财政分权如何塑造银行竞争动态:来自中国城市层面的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-08-07 DOI: 10.1016/j.chieco.2025.102530
Chenzi Yang , Qinru Si , Xiaoyan Wang , Jinwei Li
{"title":"How government fiscal decentralization shapes bank competition dynamics: City-level evidence from China","authors":"Chenzi Yang ,&nbsp;Qinru Si ,&nbsp;Xiaoyan Wang ,&nbsp;Jinwei Li","doi":"10.1016/j.chieco.2025.102530","DOIUrl":"10.1016/j.chieco.2025.102530","url":null,"abstract":"<div><div>Fiscal decentralization has played an increasingly prominent role in driving China's economic growth, yet its influence on distortions in banking competition remains insufficiently examined. Drawing on data from 250 Chinese banks, we show that increased municipal government fiscal expenditure enhances local banks' market power, primarily by improving the performance of local firms, facilitating industrial upgrading, and driving digital advancements. This effect is especially pronounced for non-central state-owned banks with lower customer concentration and less capital-intensive operations in vibrant and central cities. Additionally, the effects of fiscal reform and the establishment of bankruptcy courts work in tandem to ensure bank market positions. Furthermore, while government expenditure may have a delayed but escalating impact on market power, the long-term influence of fiscal decentralization is more likely to shape banks' risk-weighted lending portfolios, even as improvements in bank efficiency may diminish over time.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102530"},"PeriodicalIF":5.5,"publicationDate":"2025-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144827017","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
Internal finance, financial constraint, and pollution emissions: Evidence from China 内部财务、财务约束与污染排放:来自中国的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-08-07 DOI: 10.1016/j.chieco.2025.102525
Mathilde Maurel , Thomas Pernet , Zhao Ruili
{"title":"Internal finance, financial constraint, and pollution emissions: Evidence from China","authors":"Mathilde Maurel ,&nbsp;Thomas Pernet ,&nbsp;Zhao Ruili","doi":"10.1016/j.chieco.2025.102525","DOIUrl":"10.1016/j.chieco.2025.102525","url":null,"abstract":"<div><div>This study explores the role of internal finance on firms' environmental behavior, focusing specifically on sulfur dioxide (<span><math><mi>SO</mi></math></span>2) emissions in China's rapidly growing industrial sector. Using a rich and unique dataset provided by the Ministry of Environmental Protection (MEP), our baseline results find that firms with stronger internal finances experience a significant reduction in <span><math><mi>SO</mi></math></span>2 emissions. Our empirical analysis uncovers two key mechanisms through which internal finance influences firm behavior. First, firms with stronger internal financial health, as measured by metrics like cash flow, current ratio, and coverage ratio, are more inclined to invest in Research &amp; Development and Total Factor Productivity, especially in credit-constrained sectors. Second, these financially robust firms are more proactive in adopting <span><math><mi>SO</mi></math></span>2 abatement technologies, an effect that becomes more pronounced in the context of credit-constrained firms. Our findings offer a nuanced understanding of how internal financial resources can serve as a dual lever for both innovation and sustainability, particularly in settings where external financing is limited. They also suggest that the shortcomings of the financial systems necessitate regulation to support and accelerate the environmental transition.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102525"},"PeriodicalIF":5.5,"publicationDate":"2025-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144902404","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
Limited liability, piercing the corporate veil and pollution abatement: Evidence from China 有限责任、揭开企业面纱和减少污染:来自中国的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-08-06 DOI: 10.1016/j.chieco.2025.102529
Qiyangfan Feng , Ziyue Zhang
{"title":"Limited liability, piercing the corporate veil and pollution abatement: Evidence from China","authors":"Qiyangfan Feng ,&nbsp;Ziyue Zhang","doi":"10.1016/j.chieco.2025.102529","DOIUrl":"10.1016/j.chieco.2025.102529","url":null,"abstract":"<div><div>The absence of robust legal frameworks is a hallmark of developing nations, contributing to various moral hazard issues, including environmental degradation. In this paper, using the example of the introduction of the principle of piercing the corporate veil (PCV) in Chinese Company Law, we investigate how complementing the limited liability protection framework can improve firms' environmental performance. Employing a PSM-DID strategy, we find compelling evidence that the implementation of PCV leads to a significant reduction in pollution intensity and a decrease in the prevalence of highly polluting firms. In response to the pressure of joint and several liabilities resulting from PCV, firms adopt measures such as enhancing process controls and implementing end-of-pipe treatments to reduce emissions. Furthermore, business groups strategically adjust their production networks and internal factor markets to reduce the pollution emission intensity of their subsidiaries.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102529"},"PeriodicalIF":5.5,"publicationDate":"2025-08-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144827018","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
Equity diversification as a catalyst for Artificial Intelligence innovation: Evidence from Chinese state-owned enterprises 股权多元化是人工智能创新的催化剂:来自中国国有企业的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-07-30 DOI: 10.1016/j.chieco.2025.102519
Zhi Su, Chen Zhao, Ying Li, Zhimeng Sun
{"title":"Equity diversification as a catalyst for Artificial Intelligence innovation: Evidence from Chinese state-owned enterprises","authors":"Zhi Su,&nbsp;Chen Zhao,&nbsp;Ying Li,&nbsp;Zhimeng Sun","doi":"10.1016/j.chieco.2025.102519","DOIUrl":"10.1016/j.chieco.2025.102519","url":null,"abstract":"<div><div>China’s newly revised Company Law (2024) expands the regulatory scope in Chapter 7 from solely state-owned to all state-funded enterprises and aims to optimize their governance through various measures. This shapes the reform trajectory of equity structures in State-Owned Enterprises (SOEs), offering SOEs—typically viewed as weaker innovators—an opportunity to keep pace in the era of Artificial Intelligence (AI). Against this backdrop, we investigate the role of equity diversification in shaping SOEs’ AI innovation performance. Using the patent and equity structure data of Chinese listed SOEs during 2007–2023, we find that a 1% increase in equity diversification is associated with a 0.05% boost in AI patent applications filed by SOEs in the next year. This positive effect is achieved through: (i) reducing managerial short-termism and encouraging long-term strategic investments, (ii) directing managerial attention to emerging technologies like AI, and (iii) facilitating external learning and improving innovation efficiency. SOEs in the growth or maturity stage, operating in high-tech or competitive industries, and characterized by financial adequacy and commercial orientations benefit more from equity diversification. Additionally, this benefit is limited to AI innovation output, without affecting its quality or traditional innovation.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102519"},"PeriodicalIF":5.5,"publicationDate":"2025-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144772502","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 time-varying zone-like and asymmetric preference of central banks: Evidence from China 央行的时变区域和不对称偏好:来自中国的证据
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-07-30 DOI: 10.1016/j.chieco.2025.102517
Chuanglian Chen , Xiaobin Liu , Jun Yu , Tao Zeng
{"title":"The time-varying zone-like and asymmetric preference of central banks: Evidence from China","authors":"Chuanglian Chen ,&nbsp;Xiaobin Liu ,&nbsp;Jun Yu ,&nbsp;Tao Zeng","doi":"10.1016/j.chieco.2025.102517","DOIUrl":"10.1016/j.chieco.2025.102517","url":null,"abstract":"<div><div>This paper develops a framework to investigate the time-varying asymmetric and zone-like preferences of a central bank. We derive the optimal forward-looking monetary policy rule and explore four distinct types of loss related to inflation, output, and leverage, resulting in 64 distinct models. We estimate these models and utilize the Akaike information criterion (AIC) to select the most suitable one. Using data from 1996 to 2022, we find that the People’s Bank of China (PBoC): (1) reacts to inflation gaps with slight asymmetry, featuring a no-intervention zone between -1% and 1%; (2) intervenes asymmetrically in output gaps, displaying stronger inclination toward averting overheating than downturns; (3) applies symmetric regulation to leverage gaps. These findings underscore the PBoC’s adaptability and responsiveness to economic fluctuations and its preference for risk management.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102517"},"PeriodicalIF":5.5,"publicationDate":"2025-07-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144779397","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 impact of National Volume-Based Procurement policy on healthcare expenditure and provider behavior in China 国家批量采购政策对中国医疗保健支出和提供者行为的影响
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-07-26 DOI: 10.1016/j.chieco.2025.102520
Yiru Wang , Tianjun Li , Xiangshi Liu , Wenbin Zang
{"title":"The impact of National Volume-Based Procurement policy on healthcare expenditure and provider behavior in China","authors":"Yiru Wang ,&nbsp;Tianjun Li ,&nbsp;Xiangshi Liu ,&nbsp;Wenbin Zang","doi":"10.1016/j.chieco.2025.102520","DOIUrl":"10.1016/j.chieco.2025.102520","url":null,"abstract":"<div><div>To curb rising medical expenses, the Chinese government launched a national volume-based procurement (NVBP) policy for high-value medical consumables. This study evaluates its impact on coronary stents, the first targeted category implemented in 2021. Using inpatient records for all percutaneous coronary intervention (PCI) patients in a large pilot city and a time regression discontinuity design, we examined effects on healthcare expenditures, care intensities, treatment outcomes, service volume, and treatment patterns. The results showed a significant 35.2 % decrease in average total expenditure, primarily driven by a 65.4 % reduction in medical supplies and consumables fees. However, the policy also led to unintended provider responses, including increased stents implanted per patient, a 43.3 % rise in weekly service volume, and a higher likelihood of using alternative, costlier treatment patterns. No significant impact was found on 30-day readmissions, but a slight increase in in-hospital mortality was observed. Importantly, analysis by insurance status revealed distinct provider strategies: expanding PCI volume for higher-coverage patients and increasing stent use per procedure for lower-coverage patients. Dynamic analysis indicated sustained reductions in expenditures over time, though effects on care intensities diminished after a few months. These findings suggest that while NVBP effectively reduced patient-level healthcare expenditures, it raised concerns about its broader impact on aggregate healthcare spending and provider behavior.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102520"},"PeriodicalIF":5.5,"publicationDate":"2025-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144721486","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
Does digital finance affect energy consumption structure upgrading? Evidence from Chinese rural households 数字金融是否影响能源消费结构升级?来自中国农村家庭的证据
IF 5.2 1区 经济学
中国经济评论 Pub Date : 2025-07-23 DOI: 10.1016/j.chieco.2025.102515
Debao Hu , Yutian Lei , Chenzhe Zhai , Jiaxin Liu
{"title":"Does digital finance affect energy consumption structure upgrading? Evidence from Chinese rural households","authors":"Debao Hu ,&nbsp;Yutian Lei ,&nbsp;Chenzhe Zhai ,&nbsp;Jiaxin Liu","doi":"10.1016/j.chieco.2025.102515","DOIUrl":"10.1016/j.chieco.2025.102515","url":null,"abstract":"<div><div>As carbon neutrality debates escalate, household energy use has gained prominence of scholars. However, existing studies overly focus on consumption expenditure while sidelining the impact of digital finance. This research utilized Chinese household microdata to explore the nexus between digital finance and household energy structure. The empirical results confirm its facilitative effect. The mechanisms of action include infrastructure construction, increased household environmental literacy, improved payment environments, and enhanced risk hedging ability. Regional and policy heterogeneities exist, and the energy structure upgrading aligns with the energy stacking theory. The findings thus shed light on digital finance's role in promoting sustainable household energy transitions.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102515"},"PeriodicalIF":5.2,"publicationDate":"2025-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144704144","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
Centuries of memory: Historical disasters and modern household savings 几个世纪的记忆:历史灾难和现代家庭储蓄
IF 5.5 1区 经济学
中国经济评论 Pub Date : 2025-07-23 DOI: 10.1016/j.chieco.2025.102511
Dongmin Yao, Aohan Xu, Shiyu Zhang, Shuguang Yu
{"title":"Centuries of memory: Historical disasters and modern household savings","authors":"Dongmin Yao,&nbsp;Aohan Xu,&nbsp;Shiyu Zhang,&nbsp;Shuguang Yu","doi":"10.1016/j.chieco.2025.102511","DOIUrl":"10.1016/j.chieco.2025.102511","url":null,"abstract":"<div><div>This study examines the impact of historical disasters on contemporary household saving rates in China. Using a unique dataset that combines detailed disaster records from the Ming and Qing Dynasties (1368–1911) and China Family Panel Studies, this study reveals that historical disasters significantly increase contemporary household saving rates. Robustness tests confirm this result. Mechanism analysis suggests that risk preference is a key channel: historical disasters increase risk aversion, thereby strengthening the motivation for precautionary saving. A theoretical model of cultural transmission is developed, and heterogeneity analysis shows that the effect is stronger in regions with more diverse cultural transmission channels, as reflected in more deeply rooted Confucian and clan cultures. By incorporating historical and cultural perspectives, this study offers a novel explanation for the persistently high household saving rates observed in China.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"94 ","pages":"Article 102511"},"PeriodicalIF":5.5,"publicationDate":"2025-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144772501","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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