IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-23 DOI: 10.1016/j.chieco.2025.102645

Wenkai Sun , Wenjing Wang , Siyuan Tang , Zhong Zhao

引用次数: 0

Supply network and firm innovation: Evidence from China 供应网络与企业创新：来自中国的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-11-17 DOI: 10.1016/j.chieco.2025.102601

Xiao Deng , Shi-Ting He , Xinrui Lin , Junjie Tang

引用次数: 0

The dark side of capital flexibility: Subscribed capital system reform and creditor interests in China 资本弹性的阴暗面：中国认缴资本制度改革与债权人利益

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-08 DOI: 10.1016/j.chieco.2025.102635

Weidi Chai , Chunyu Zhang , Yongmei Cui , Xiaohong Ma

{"title":"The dark side of capital flexibility: Subscribed capital system reform and creditor interests in China","authors":"Weidi Chai , Chunyu Zhang , Yongmei Cui , Xiaohong Ma","doi":"10.1016/j.chieco.2025.102635","DOIUrl":"10.1016/j.chieco.2025.102635","url":null,"abstract":"<div><div>In 2024, China's Company Law reinstated stricter paid-in capital rules, reversing the 2013 shift to a subscribed capital system. This study investigates the real economic consequences of the 2013 subscribed capital system on corporate creditors in China. Using a comprehensive panel dataset of A-share-listed firms from 2010 to 2023 and a difference-in-differences (DID) empirical strategy, we find robust evidence that the subscribed capital system significantly weakens creditors' interests. We identify three key channels: weakened creditor protection, deteriorated corporate governance, and distorted capital allocation. The adverse effects are more pronounced in non-state-owned firms, short-term-oriented management, firms with weak banking relationships, and enterprises located in regions with higher government intervention and lower levels of informatization. Furthermore, we provide novel empirical evidence that the subscribed capital system exacerbates over-indebtedness and impairs innovation output, suggesting broader implications for economic dynamism and financial stability.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102635"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145790248","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

Why do Chinese SMEs avoid formal employment? Political connections and unequal access to formalization benefits1 中国中小企业为何回避正式就业？政治关系和获得正规化利益的不平等机会

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-17 DOI: 10.1016/j.chieco.2025.102638

Ruochen Dai , Yue Feng , Chengfang Liu , Langrui Li , Lina Zhang , Ketong Zhu

{"title":"Why do Chinese SMEs avoid formal employment? Political connections and unequal access to formalization benefits1","authors":"Ruochen Dai , Yue Feng , Chengfang Liu , Langrui Li , Lina Zhang , Ketong Zhu","doi":"10.1016/j.chieco.2025.102638","DOIUrl":"10.1016/j.chieco.2025.102638","url":null,"abstract":"<div><div>Employment formalization among small and medium-sized enterprises (SMEs) remains low in developing countries, which weakens job security and social protection. Despite policy efforts, many SMEs evade social insurance obligations, raising concerns about labor rights and economic stability. Using data on 2664 SMEs in the 2018 Enterprise Survey for Innovation and Entrepreneurship in China (ESIEC), we document that 48.4 % of SMEs provide no social insurance, while 74.6 % cover only some employees. After controlling for firm characteristics as well as city and industry fixed effects, SMEs led by politically connected entrepreneurs have a 7.1-percentage-point higher probability of providing social insurance than those without such connections. This correlation likely stems from connected entrepreneurs' preferential access to formalization benefits—including formal credit and government procurement contracts—which collectively generate a political-connection premium that incentivizes compliance with labor regulations. These findings suggest that the uneven distribution of such benefits (concentrated among politically connected firms) contributes to the overall low formalization rates in China's SME sector, as most entrepreneurs lack access to these incentives. Moreover, the political-connection premium diminishes in regions with stronger financial inclusion and lower government intervention, suggesting that an improved business environment encourages broader formalization. These findings underscore the importance of policies that decouple formalization benefits from political connections to foster more inclusive labor protection and economic stability.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102638"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145884412","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

Socioeconomic status and inequalities in early development of non-cognitive skills: Evidence from China 非认知技能早期发展中的社会经济地位和不平等：来自中国的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-10-28 DOI: 10.1016/j.chieco.2025.102586

Dongqin Wang , Minghong Shen , Xiaogang Wu

{"title":"Socioeconomic status and inequalities in early development of non-cognitive skills: Evidence from China","authors":"Dongqin Wang , Minghong Shen , Xiaogang Wu","doi":"10.1016/j.chieco.2025.102586","DOIUrl":"10.1016/j.chieco.2025.102586","url":null,"abstract":"<div><div>Non-cognitive skills are a critical component of human capital. This paper investigates the associations between socioeconomic status (SES) and early childhood non-cognitive development, using data from the Survey of Early Education, Development, and Strengths (SEEDS) conducted among kindergarten-aged children in Hangzhou, China. Using a machine learning approach with the Ages and Stages Questionnaire: Social-Emotional (ASQ:SE), we identify a high family annual income and parental university education as the strongest indicators linked to non-cognitive skill development. Employing OLS and fixed effects models, we find robust positive associations between these SES factors and children's non-cognitive outcomes. Children from high-income households with university-educated parents exhibit the highest skill levels across domains such as communication, self-regulation, autonomy, and socialization—a pattern of “double advantage.” Our analysis further reveals that parenting styles and financial investments are closely related to these disparities. These findings highlight the need for policies targeting multidimensional SES barriers to mitigate early-life inequalities and promote human capital development and socioeconomic mobility.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102586"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145685352","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 a large-scale chronic disease prevention and control program on the health benefits of older adults: Evidence from a natural experiment in China 大规模慢性病预防和控制项目对老年人健康益处的影响：来自中国自然实验的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-01 DOI: 10.1016/j.chieco.2025.102632

Qingshan Ma , Yuqing Han , Mingcong Chen , Feng Hu , Haiyan Zhou

{"title":"The impact of a large-scale chronic disease prevention and control program on the health benefits of older adults: Evidence from a natural experiment in China","authors":"Qingshan Ma , Yuqing Han , Mingcong Chen , Feng Hu , Haiyan Zhou","doi":"10.1016/j.chieco.2025.102632","DOIUrl":"10.1016/j.chieco.2025.102632","url":null,"abstract":"<div><div>Chronic diseases impose significant burdens on families and society because of high disability rates and costly treatments. Based on data from the 2014–2020 China Longitudinal Aging Social Survey (CLASS), this paper considers the establishment of National Demonstration Zones for Comprehensive Chronic Disease Prevention and Control (NDZCCDPCs) as a natural experiment, and explores the impact of this policy on the health of older adults by constructing a staggered difference-in-differences (DID) model. The findings indicate that NDZCCDPCs reduces the number of chronic diseases prevalent in older adults by 10.6 %, decreases the probability of ADL difficulty by 2.9 %, and reduces the probability of self-assessed poor health by 3.9 %. NDZCCDPCs achieves these health benefits through mechanisms such as preventive care and behaviors, and healthcare service provision and cost reduction. However, the positive health impact is smaller in areas facing higher fiscal stress, due to crowding-out effects. Heterogeneity analysis indicates that the positive impact is more pronounced among older adults with lower levels of education and rural Hukou, and is more evident in areas with scarce medical resources. Finally, the benefits of establishing NDZCCDPCs outweigh the costs.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102632"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145737360","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

Targeting mental wellness: Does China's multifaceted poverty alleviation policy bear fruit? 关注心理健康：中国多方面的扶贫政策有成效吗？

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-07 DOI: 10.1016/j.chieco.2025.102633

Dezhuang Hu , Tang Li

{"title":"Targeting mental wellness: Does China's multifaceted poverty alleviation policy bear fruit?","authors":"Dezhuang Hu , Tang Li","doi":"10.1016/j.chieco.2025.102633","DOIUrl":"10.1016/j.chieco.2025.102633","url":null,"abstract":"<div><div>This study examines the determinants of mental health among impoverished individuals through the lens of China's Targeted Poverty Alleviation (TPA) policy, a government-led, nationwide, precisely targeted, multifaceted anti-poverty initiative. By employing a methodology of difference-in-differences and utilizing nationally representative data from the China Family Panel Studies, we find that the TPA policy significantly improves mental health among targeted populations. The results remain robust across various robustness checks, underscoring the reliability of our estimates. Heterogeneous analysis indicates that the effects of the TPA policy are particularly substantial for more vulnerable groups, including women, younger individuals, those with lower education levels, and those living in rural regions. Increased labor force participation, augmented household income and expenditure, improved access to healthcare and education, narrowed income disparities, promoted social mobility, and enhanced confidence and trust are found to be the underlying mechanisms. A back-of-the-envelope cost–benefit analysis indicates that the TPA's return on investment from mental health improvements alone is about 5.76 RMB gained per 1 RMB.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102633"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145737285","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

Transnational digital infrastructure and scientific collaboration: Evidence from the Asia Africa Europe-1 (AAE-1) submarine cable 跨国数字基础设施和科学合作：来自亚非欧-1 （AAE-1）海底电缆的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-11-20 DOI: 10.1016/j.chieco.2025.102603

Han Li , Yuan Gao

{"title":"Transnational digital infrastructure and scientific collaboration: Evidence from the Asia Africa Europe-1 (AAE-1) submarine cable","authors":"Han Li , Yuan Gao","doi":"10.1016/j.chieco.2025.102603","DOIUrl":"10.1016/j.chieco.2025.102603","url":null,"abstract":"<div><div>This paper examines the impact of transnational digital infrastructure on international scientific collaboration. Based on data of Chinese researchers' collaborative papers from 2010 to 2023, we analyzed the impact of the operation of Asia-Africa-Europe-1 (AAE-1) submarine cable on research partnerships between China and the connected countries. The findings show that the AAE-1 cable has significantly boosted collaborative research activities. It not only facilitated the establishment of novel scientific collaborations but also enhanced the productivity of existing partnerships. Additionally, the enhanced connectivity led to an expansion in the size of research teams and a measurable increase in the citation impact of collaborative publications. The effects on collaboration were most pronounced for universities, collaborations in technology-related fields, and countries with historically lower publication outputs and less international bandwidth. These results highlight the pivotal role of high-quality digital infrastructure in fostering global scientific collaboration, especially in integrating developing countries and peripheral research communities into the global scientific ecosystem.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102603"},"PeriodicalIF":5.5,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145594641","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 environmental concern on cross-regional investment: Evidence from Chinese new energy enterprises 环境关注对跨区域投资的影响：来自中国新能源企业的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-12-25 DOI: 10.1016/j.chieco.2025.102647

Qilin Mao , Chongyang Guo

引用次数: 0

Audiovisual pesticide label: A digital expert to promote accurate pesticide use 视听农药标签：数字化专家，促进农药精准使用

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-01-01 Epub Date: 2025-11-20 DOI: 10.1016/j.chieco.2025.102600

Juhui Chen , Junfei Bai , Xi Lu , Yinghui Ma , Meng Zhou

引用次数: 0

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