China & World Economy最新文献_第5页

The Multifaceted Impact of Education on Fertility: Unpacking the “BASIC” Effects in China 教育对生育率的多方面影响：解读中国的 "基础 "效应

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-11-20 DOI: 10.1111/cwe.12558

Yufei Liu, Chuanmin Zhao

{"title":"The Multifaceted Impact of Education on Fertility: Unpacking the “BASIC” Effects in China","authors":"Yufei Liu, Chuanmin Zhao","doi":"10.1111/cwe.12558","DOIUrl":"https://doi.org/10.1111/cwe.12558","url":null,"abstract":"Research is increasingly showing that the impact of education on fertility can result in various and sometimes conflicting outcomes. Using data from the China General Social Survey, this study investigates this issue by exploring five channels (the five “BASIC” effects – base, ambition, spouse, income, and concept effects) through which education might influence different fertility behaviors. Using the number of Confucian temples in a region as an instrumental variable for education and employing the two-stage least squares estimation, the results indicate that after taking into account the BASIC effects, the impact of education on actual fertility behavior – both the number of children and the decision to have children – becomes insignificant. However, the negative influence of education on fertility intentions persists. This suggests that, although an increase in the level of education may reduce people's desire to have children, the actual fertility behavior can be influenced more by factors such as individual work status (the base effect) and personal expectations (the ambition effect). These findings provide new insights to assist China to optimize its population policy further, helping policymakers to understand better how education affects fertility choices and to formulate more precise population development strategies.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 6","pages":"68-97"},"PeriodicalIF":2.9,"publicationDate":"2024-11-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142707920","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 Frontiers in Manufacturing Technologies Initiative and University Innovation 制造技术前沿倡议与大学创新

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12553

Xuan Leng, Yichuan Zhang

引用次数: 0

Collateral Monetary Policy, Regional Financial Development, and Nonfi nancial Firms' Shadow Banking Activities 抵押品货币政策、地区金融发展和非金融企业的影子银行活动

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12552

Chao Yuan, Hai Jiang, Jiawen Ren, Nikos Kapitsinis

{"title":"Collateral Monetary Policy, Regional Financial Development, and Nonfi nancial Firms' Shadow Banking Activities","authors":"Chao Yuan, Hai Jiang, Jiawen Ren, Nikos Kapitsinis","doi":"10.1111/cwe.12552","DOIUrl":"https://doi.org/10.1111/cwe.12552","url":null,"abstract":"The disparity in credit access between large firms and small and medium-sized enterprises contributes to the prevalence of shadow banking activities, where large, nonfinancial firms with high credit ratings have become new financial intermediaries. These activities vary geographically and are affected significantly by collateral monetary policy. This paper examines the effect of collateral monetary policy, its reform, and regional financial development characteristics on large firms' shadow banking activities, with a focus on the medium-term lending facility (MLF), the primary collateral monetary policy instrument in China. The results indicate that the MLF encouraged large firms' shadow banking activity. However, the MLF reform in 2018 mitigated this effect by broadening the range of acceptable collateral. Regional financial development, such as a higher number of bank branches around firms, facilitated large firms' shadow banking activities and amplified the MLF's stimulating effect. In contrast, regional advancements in digital finance and market development limited both shadow banking activities and MLF's impact.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 5","pages":"166-196"},"PeriodicalIF":2.9,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142276573","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

E-commerce, Pandemic Shock, and the Survival of Small and Medium Enterprises 电子商务、大流行冲击与中小企业的生存之道

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12550

Zengdong Cao, Qin Tu, Nichola Latoya Williams

{"title":"E-commerce, Pandemic Shock, and the Survival of Small and Medium Enterprises","authors":"Zengdong Cao, Qin Tu, Nichola Latoya Williams","doi":"10.1111/cwe.12550","DOIUrl":"https://doi.org/10.1111/cwe.12550","url":null,"abstract":"This study examines the impact of e-commerce on the survival rate of small and medium enterprises (SMEs) during the COVID-19 pandemic using a combined dataset from the Enterprise Survey for Innovation and Entrepreneurship in China for the period from 2018 to 2020. We conducted a difference-in-differences analysis by exploiting the variation in the adoption of e-commerce across SMEs before and after the outbreak of COVID-19. The results show that e-commerce had a significantly positive effect on the survival rate of SMEs during the crisis. Specifically, it improved the survival rate of SMEs by 3.0 to 3.4 percentage points by expanding the scale of the enterprises' markets, mitigating declines in orders, shortening the repayment periods of accounts receivable, and improving cash flow during a pandemic. Heterogeneity analysis reveals that the impact of e-commerce was more pronounced for SMEs with a larger share of online sales and for labor-intensive SMEs, and third-party e-commerce platforms or Web sites played a bigger role than self-built Web sites and social media. This study offers novel evidence highlighting the value of digitalization for firms during the crisis.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 5","pages":"113-139"},"PeriodicalIF":2.9,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142276522","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

Diplomatic Relations and Investment Location of Chinese Multinationals: An International Political Economy Perspective 外交关系与中国跨国公司的投资地点：国际政治经济学视角

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12549

Diego Quer

引用次数: 0

Quantifying Inter-regional Trade Inequality of China's Cities Based on Environmental-economic Benefits in Virtual Built-up Land Flow 基于虚拟建设用地流量的环境经济效益量化中国城市的区域间贸易不平等

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12554

Pengfei Wang, Hongbo Li, Zhenbin Huang

引用次数: 0

Does Structural Matching between Finance and Law Promote Economic Development? 金融与法律之间的结构性匹配能否促进经济发展？

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12551

Baifang Wang

{"title":"Does Structural Matching between Finance and Law Promote Economic Development?","authors":"Baifang Wang","doi":"10.1111/cwe.12551","DOIUrl":"https://doi.org/10.1111/cwe.12551","url":null,"abstract":"Financial systems generally operate under two different models: one where capital markets play a primary role in financial transactions and resource allocation (market-oriented model), and another where banks are the central institutions for these activities (bank-oriented model). The degree of investor protection afforded by the legal system varies across these systems. What is the most efficient alignment between financial structure and investor protection? This paper attempts to quantify the structural matching relationship between the financial structure and investor protection in various countries, and examines empirically the impact of this relationship on economic development. Using a sample of cross-country panel data, it finds that the degree of structural matching was positively related to economic development. Both the combination of a securities market and strong investor protection and the combination of a banking system and weak investor protection can contribute to promoting economic development. It extends the law and finance theory framework, enhances the analysis of scenarios with weak alignment between financial structure and investor protection, explains the growth path of developing countries, and highlights the diversity and the dynamic nature of the optimal financial structure.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 5","pages":"140-165"},"PeriodicalIF":2.9,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142276523","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

How Does Economic Policy Uncertainty Impact a Country's Position in Global Value Chains? 经济政策的不确定性如何影响一国在全球价值链中的地位？

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12547

Jiaxuan Zhang, Hongsheng Zhang, Xuhang Shen, Bo Meng

{"title":"How Does Economic Policy Uncertainty Impact a Country's Position in Global Value Chains?","authors":"Jiaxuan Zhang, Hongsheng Zhang, Xuhang Shen, Bo Meng","doi":"10.1111/cwe.12547","DOIUrl":"https://doi.org/10.1111/cwe.12547","url":null,"abstract":"Economic globalization in the 21st century has been characterized by the rise and spread of global value chains (GVCs). It faces significant challenges due to increasing domestic and international policy uncertainty in the context of emerging mega risks like geopolitical tensions and climate change. This paper begins by constructing a theoretical model for an open economy to study how risk-averse firms make decisions regarding the sourcing of intermediate inputs in an uncertain environment. Our model solution proposes that firms will source fewer intermediate inputs from countries with more economic uncertainty. An increase in domestic and foreign uncertainty will have opposite impacts on a country's position in GVCs. In this sense, we argue that a country tends to move downstream along GVCs if its own economic policies become more uncertain, and it tends to move upstream with an increase in the uncertainty of its trading partner countries. Our regression analyses, based on data including the World Input–Output Database, World Development Indicators, the UN Comtrade database, and the Economic Policy Uncertainty Index, provide empirical support for this model-based conclusion. Our findings highlight that a nation must consider foreign economic policy uncertainty and maintain domestic policy stability to participate in GVCs.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 5","pages":"28-52"},"PeriodicalIF":2.9,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142276524","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

How Do Chinese Exporting Firms Respond to Environment-related Notifications? A Green Innovation Perspective 中国出口企业如何应对环境相关通知？绿色创新视角

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12546

Wen Chen, Yinzi Fan

{"title":"How Do Chinese Exporting Firms Respond to Environment-related Notifications? A Green Innovation Perspective","authors":"Wen Chen, Yinzi Fan","doi":"10.1111/cwe.12546","DOIUrl":"https://doi.org/10.1111/cwe.12546","url":null,"abstract":"Environment-related notifications play an important role in the coordinated development of trade and environment protection. In this paper, we examine how Chinese exporting enterprises responded to environment-related notifications implemented by the US through green innovation practices. These notifications significantly encouraged exporting firms to increase green innovation, as evidenced particularly by the number of green utility model patents granted. This effect was most pronounced in non-foreign-invested enterprises, high-total-factor-productivity firms, technology-intensive industries, and nongreen industries. These notifications also increased the probability of enterprises exiting the market while reducing the probability of new enterprises entering it. The innovation motivation of surviving firms was higher than that of the new entrants. Our analysis also suggests that environment-related notifications had a crowding-out effect on other innovation rather than a leverage effect. This study offers important empirical evidence that helps enterprises to respond to green non-tariff measures effectively, enrich the existing literature, and provide practical guidance for both policymaking and corporate development.","PeriodicalId":51603,"journal":{"name":"China & World Economy","volume":"32 5","pages":"1-27"},"PeriodicalIF":2.9,"publicationDate":"2024-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142276624","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

Global Value Chain Participation and Firms' Responses to Exchange Rate Fluctuations 全球价值链参与和企业对汇率波动的反应

IF 2.9 2区经济学

China & World Economy Pub Date : 2024-09-21 DOI: 10.1111/cwe.12548

Chun Jiang, Fuwei Sun, Zhida Zhang

引用次数: 0