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Spillover Effects of Labor Protection: Minimum Wage and Digital Innovation 劳动保护的溢出效应：最低工资与数字创新
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-03-16 DOI: 10.1111/cwe.70023
Yuanchao Bian, Kaiwen Wu, Junhong Bai
{"title":"Spillover Effects of Labor Protection: Minimum Wage and Digital Innovation","authors":"Yuanchao Bian,&nbsp;Kaiwen Wu,&nbsp;Junhong Bai","doi":"10.1111/cwe.70023","DOIUrl":"https://doi.org/10.1111/cwe.70023","url":null,"abstract":"<p>Minimum wages standards for low-income groups may encourage firms to adopt low-skilled labor-saving measures, generating spillover effects on digital innovation. This paper examines how minimum wages can influence firms' digital innovation through the substitution of high-skilled labor for low-skilled labor and the substitution of labor by intelligent capital. Following an increase in minimum wages, the number of patents related to enterprises' digital innovation increased. Minimum wage standards encouraged the upgrading of labor skills within enterprises, and accelerated the construction of automated and intelligent systems, leading to the substitution of low-skilled labor by high-skilled labor and intelligent capital. The effects of minimum wages on enterprises' digital innovation were mainly observed in labor-intensive enterprises, non-state-owned enterprises, enterprises located in the eastern region, and those with relaxed financing constraints. This study provides insights into the factors influencing enterprises' digital innovation and can inform policies to encourage enterprises to achieve digital transformation.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 2","pages":"142-181"},"PeriodicalIF":3.6,"publicationDate":"2026-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147566306","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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 Entrepreneurial Effects of a Place-based E-commerce Policy 基于地的电子商务政策的创业效应
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-03-16 DOI: 10.1111/cwe.70018
Lihao Yao, Yucheng Sun, Famin Yi
{"title":"The Entrepreneurial Effects of a Place-based E-commerce Policy","authors":"Lihao Yao,&nbsp;Yucheng Sun,&nbsp;Famin Yi","doi":"10.1111/cwe.70018","DOIUrl":"https://doi.org/10.1111/cwe.70018","url":null,"abstract":"<p>China introduced the National Rural E-commerce Comprehensive Demonstration (NREC) policy against the backdrop of regional disparities in digital development and entrepreneurial activity. This place-based policy promoted e-commerce development through a county–township–village logistics and service system, with the aim of stimulating local entrepreneurship. Exploiting the NREC as a quasi-natural experiment, this study examined its effects on the quantity and quality of entrepreneurship at both the county and household levels. The results show that the NREC significantly increased the number of startups at the county level and raised households' business income and household employment. Suggestive evidence indicated that improved market access, enhanced digital skills, and eased credit constraints contributed to these effects. However, limited evidence was found for improvements in long-term firm survival or enterprise upgrading. Overall, the findings provide new evidence on the entrepreneurial impacts of place-based e-commerce policies, with implications for developing economies.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 2","pages":"249-280"},"PeriodicalIF":3.6,"publicationDate":"2026-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147566310","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Industry Concentration and Mutual Fund Performance: The Roles of Managerial Effort and Investor Behavior 行业集中度与共同基金绩效：管理层努力和投资者行为的作用
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-03-16 DOI: 10.1111/cwe.70017
Ye Zhou, Danchen Li, Yamei Wang, Wentao Tian
{"title":"Industry Concentration and Mutual Fund Performance: The Roles of Managerial Effort and Investor Behavior","authors":"Ye Zhou,&nbsp;Danchen Li,&nbsp;Yamei Wang,&nbsp;Wentao Tian","doi":"10.1111/cwe.70017","DOIUrl":"https://doi.org/10.1111/cwe.70017","url":null,"abstract":"<p>This study examined how industry concentration structure can affect mutual fund performance under the dual channels of fund manager effort and investor erosion. Using quarterly data from Chinese equity and equity-oriented hybrid funds from 2015 to 2022, the study investigated this relationship and its underlying mechanisms. The results show that greater industry concentration significantly improved fund performance. The positive effect stemmed from the interplay between managers' strategic efforts and the erosive impact of investor behavior. Mechanism analysis indicates that fund managers enhanced performance primarily through professional skill-driven industry allocation strategies rather than informational advantages. Industry concentration also produced time-lagged effects on performance. The effort-driven component of concentration contributed positively to performance, whereas investor subscriptions and redemptions generated significant erosion effects. The results identify industry concentration structure as a critical determinant of fund performance, providing theoretical and empirical foundations for re-evaluating fund performance sources.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 2","pages":"67-109"},"PeriodicalIF":3.6,"publicationDate":"2026-03-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147566313","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Greener Trade Agreements and Green Transformation 绿色贸易协定与绿色转型
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70005
Yajun Zhu, Churen Sun
{"title":"Greener Trade Agreements and Green Transformation","authors":"Yajun Zhu,&nbsp;Churen Sun","doi":"10.1111/cwe.70005","DOIUrl":"https://doi.org/10.1111/cwe.70005","url":null,"abstract":"<p>This study investigated the impact of environmental provisions in preferential trade agreements on the greening of Chinese firms' exports using data from the Trade and Environment Database, the Chinese Customs Database, and the Annual Survey of Industrial Firms for 2000–2014. These provisions significantly boosted firms' shares of clean exports and reduced shares of dirty exports. Pollution intensity weakened this effect but productivity strengthened it. Heterogeneity tests indicated stronger effects for technology-related provisions than trade-related ones, and more pronounced impacts on domestic firms and those located in regions with advanced green innovation capacity and environmental governance. The study extended the trade effects of environmental provisions in preferential trade agreements to the micro level and offered novel evidence for the Porter hypothesis in the context of international environmental regulation. It also provided empirical support for China's efforts to promote the greening of trade.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"41-74"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007769","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Environmental Regulation, Respiratory Diseases, and Medical Costs 环境法规、呼吸系统疾病和医疗费用
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70011
Xiao Lei, Lin Zhou, Wentao Hu
{"title":"Environmental Regulation, Respiratory Diseases, and Medical Costs","authors":"Xiao Lei,&nbsp;Lin Zhou,&nbsp;Wentao Hu","doi":"10.1111/cwe.70011","DOIUrl":"https://doi.org/10.1111/cwe.70011","url":null,"abstract":"<p>China implemented its Action Plan of Air Pollution Prevention and Control (APAPPC) in 2013 as a major step in national air-quality management. This study treated the APAPPC as a quasi-experiment, drawing on the Grossman and Cropper models, to examine how air pollution affected individual health capital and medical service demand. Using panel data from the China Health and Retirement Longitudinal Study for 2011, 2013, 2015, and 2018, the analysis applied a Heckman two-stage model and difference-in-differences estimation to identify the policy's effects on medical expenditure. The results showed that the APAPPC significantly reduced annual health spending, with stronger effects among women, older adults, and rural residents. The mechanism analysis indicated that the reduction in respiratory diseases played a key role. This study provides evidence that supports further air-pollution control in China and offers useful insights for other developing countries.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"198-223"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Digital Economy, Green Growth, and Global Energy Transition 数字经济、绿色增长与全球能源转型
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70009
Anwar Khan, Chuanwang Sun
{"title":"Digital Economy, Green Growth, and Global Energy Transition","authors":"Anwar Khan,&nbsp;Chuanwang Sun","doi":"10.1111/cwe.70009","DOIUrl":"https://doi.org/10.1111/cwe.70009","url":null,"abstract":"<p>This study used four United Nations Sustainable Development Goal 7 (SDG7) indicators as dependent variables and examined the effects of green growth and the digital economy on these indicators for a panel of 72 countries between 2003 and 2019. Using the generalized method of moments, the analysis showed that green growth and the digital economy have driven the renewable energy transition in a sustainable development framework. Foreign direct investment was found to have negatively moderated the relationships between green growth and the SDG7 indicators, and between the digital economy and the SDG7 indicators. The results remained consistent in signs when alternative variable proxies and estimators were applied. Heterogeneity analysis indicated that green growth and the digital economy affected SDG7 positively across different income groups and regions. These results suggest that policymakers should focus on green growth and digitalization while considering the role of foreign direct investment inflows.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"173-197"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007772","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Designing Effective Provincial Environmental Policies for a Fair Low-carbon Transition in the Cement Industry 设计有效的省级环境政策，促进水泥行业公平低碳转型
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70008
Juan Li, Yibo Li, Mei Sun, Yanzi Guo
{"title":"Designing Effective Provincial Environmental Policies for a Fair Low-carbon Transition in the Cement Industry","authors":"Juan Li,&nbsp;Yibo Li,&nbsp;Mei Sun,&nbsp;Yanzi Guo","doi":"10.1111/cwe.70008","DOIUrl":"https://doi.org/10.1111/cwe.70008","url":null,"abstract":"<p>Designing policies for the cement industry's low-carbon transition is challenging due to provincial differences. This study combined a multiregional computable general equilibrium model with the energy–economy–environment–sustainability–strategy–stability (3E3S) method to assess the effects of policy scenarios involving carbon taxes and emissions trading schemes on provincial economies, the environment, carbon capture and storage (CCS) technology, urban–rural income gap, the construction industry, and 3E3S subsystems. The results show that both the impacts of carbon tax and emissions trading schemes on provincial GDP are negative. As tax rates rise, carbon intensity in the cement industry decreases, boosting CCS technology adoption, especially in provinces where cement production is concentrated. These policies also intensify the urban–rural income gap, although tax rebates can partially offset their negative effects, and influence the construction industry through the supply chain. Variations in economic levels, technological development, and urban–rural income gap among provinces significantly influence the coordinated development of the 3E3S subsystems.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"256-288"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146016275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
“Climateflation” in China: Could Rising Temperatures Overheat the Economy? 中国的“气候通胀”：气温上升会使经济过热吗？
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70014
Kai Li, Yifang Xiao, Shaozhou Qi, Xunpeng Shi, Kun Qin
{"title":"“Climateflation” in China: Could Rising Temperatures Overheat the Economy?","authors":"Kai Li,&nbsp;Yifang Xiao,&nbsp;Shaozhou Qi,&nbsp;Xunpeng Shi,&nbsp;Kun Qin","doi":"10.1111/cwe.70014","DOIUrl":"https://doi.org/10.1111/cwe.70014","url":null,"abstract":"<p>This study examined the inflationary effects of rising temperatures by linking monthly climate variables with consumer price data for 30 large- and medium-sized Chinese cities from January 2004 to December 2019. Lagged one-period temperature had a significant positive effect on current-month price changes. The cumulative estimates indicated that each 1 °C increase during the sample period was associated with a 0.057 percent rise in prices, implying that temperature shocks contributed to consumer price inflation. Mechanism tests showed that higher temperatures reduced output growth and raised production costs, and that greater economic policy uncertainty amplified these effects. When different temperature bins were used as explanatory variables, prices increased linearly with temperatures up to 25–30 °C, then declined at higher temperatures. Temperature effects were stronger in poorer or cooler regions. The findings suggest the need to strengthen monetary policy responses, expand mitigation efforts, and develop climate-adaptive urban systems.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"108-137"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/cwe.70014","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Optimal Climate Policy Mix for Green Transition: A Growth Model with Endogenous Labor Supply 绿色转型的最优气候政策组合：一个具有内生劳动力供给的增长模型
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70015
Ying Tung Chan, Qiang Ji, Dayong Zhang
{"title":"Optimal Climate Policy Mix for Green Transition: A Growth Model with Endogenous Labor Supply","authors":"Ying Tung Chan,&nbsp;Qiang Ji,&nbsp;Dayong Zhang","doi":"10.1111/cwe.70015","DOIUrl":"https://doi.org/10.1111/cwe.70015","url":null,"abstract":"<p>Existing literature supports combining green research and development (R&amp;D) subsidies and carbon taxation for economic sustainability, but often assumes an exogenous labor supply. This overlooks key interactions, especially regarding existing subsidies for traditional R&amp;D sectors, common in developing countries focused on growth. This paper introduces a variety-expansion endogenous growth model featuring endogenous labor supply and stochastic components. It analyzes how labor supply endogeneity and the level of existing brown sector support influence the optimal mix of green R&amp;D subsidies and carbon taxation, deriving closed-form solutions: when labor supply is endogenous, the relationship between the optimal carbon tax and green R&amp;D subsidies can be complementary or substitutive, depending on the level of labor disutility. It also investigates how the optimal climate policy mix should change when a social planner emphasizes a faster green transition. The model is calibrated using data from China, and numerical results validate the paper's theoretical insights.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"3-40"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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
Decentralization and Pollution: Evidence from the Town Power Expansion Reform in China 分权与污染：来自中国城镇扩权改革的证据
IF 3.6 2区 经济学
China & World Economy Pub Date : 2026-01-18 DOI: 10.1111/cwe.70007
Fei Peng, Shibiao Zhou, Chen Feng, Ruipeng Tan
{"title":"Decentralization and Pollution: Evidence from the Town Power Expansion Reform in China","authors":"Fei Peng,&nbsp;Shibiao Zhou,&nbsp;Chen Feng,&nbsp;Ruipeng Tan","doi":"10.1111/cwe.70007","DOIUrl":"https://doi.org/10.1111/cwe.70007","url":null,"abstract":"<p>This study examined the environmental consequences of administrative decentralization by focusing on China's town power expansion reform as a quasi-natural experiment. Using firm-level panel data for Zhejiang province from 2001 to 2013, it employed a difference-in-differences approach to assess the causal impact of decentralization at the town level on firm pollution emissions. The results indicated that this form of decentralization led to a significant 19.1 percent increase in firm-level pollution, primarily driven by intensified economic competition and tax competition, expanded firms' output, and declined energy efficiency. These findings highlight the complex relationship between administrative decentralization and environmental governance, underscoring the potential unintended consequences of granting more autonomy to lower-level governments. This study thereby contributes to the debate on the relationship between decentralization and pollution.</p>","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"34 1","pages":"138-172"},"PeriodicalIF":3.6,"publicationDate":"2026-01-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146007767","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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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