Economic Analysis and Policy最新文献

Rising temperatures, shrinking gaps: The unexpected labor market impact of climate shocks 气温上升，差距缩小：气候冲击对劳动力市场的意外影响

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-06 DOI: 10.1016/j.eap.2025.10.002

Wenjing Qin, Xin Gu, Hao Li

引用次数: 0

Electricity shortages and firm energy transition: Implications for futures with higher penetrations of variable renewable energy 电力短缺与企业能源转型：对可变可再生能源渗透率较高的未来的影响

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-06 DOI: 10.1016/j.eap.2025.10.013

Peng Liu , Xunpeng Shi , Jian Yu

{"title":"Electricity shortages and firm energy transition: Implications for futures with higher penetrations of variable renewable energy","authors":"Peng Liu , Xunpeng Shi , Jian Yu","doi":"10.1016/j.eap.2025.10.013","DOIUrl":"10.1016/j.eap.2025.10.013","url":null,"abstract":"<div><div>With the growing global shift towards low-carbon energy transition and the more frequent occurrence of electricity shortages, the effect of these shortages on energy transition has become a major area of concern. This study uses a prefecture-level electricity shortage index based on city daily newspaper data, combined with firm energy consumption data from the Chinese Tax Survey Database (CTSD), to analyze the impact of electricity shortages on firm energy transition in China. The study finds that electricity shortages are a significant barrier to firm energy transition. For each standard deviation increase in urban electricity shortage, there is a 0.21% increase in the proportion of fossil energy consumption by firms. This obstacle is more severe for large and medium-sized firms, older firms and non-state-owned enterprises. Further analysis shows that electricity shortages primarily hinder firms’ energy transition through two mechanisms: the direct effect of increasing coal consumption and the indirect effect of reducing firms’ R&D investment. Notably, it is the unplanned electricity shortages that predominantly hinder firm energy transition.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 870-887"},"PeriodicalIF":8.7,"publicationDate":"2025-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267401","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 impact of extreme precipitation and flooding risk on corporate investment: Does government disaster preparedness matter? 极端降水和洪水风险对企业投资的影响：政府备灾重要吗？

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-03 DOI: 10.1016/j.eap.2025.09.032

Xi Cheng, Jun Li, Chao Feng

{"title":"The impact of extreme precipitation and flooding risk on corporate investment: Does government disaster preparedness matter?","authors":"Xi Cheng, Jun Li, Chao Feng","doi":"10.1016/j.eap.2025.09.032","DOIUrl":"10.1016/j.eap.2025.09.032","url":null,"abstract":"<div><div>This study investigates how corporate investment reacts to climate change risk and how disaster preparedness effort by local government stimulates corporate investment. We quantify city-level extreme precipitation and flooding risk through both daily precipitation and disaster event data. Our results show that firms raise their investment in response to extreme precipitation and flooding risk. Furthermore, recognizing the importance of government commitment to combat climate change, this study reveals that local disaster preparedness fosters corporate investment in productive activities amid escalating climate change challenges, which results from lower financial burdens for risk mitigation and decreased investment prudence for risk avoidance. We identify the decline in corporate resilience investment, precautionary cash holdings, and outward FDI due to local disaster preparedness. Additionally, we highlight that large firms are not only more responsive to climate change risk than smaller counterparts, but exhibit heightened reaction to local disaster preparedness. Our findings not only uncover the influence of extreme precipitation and flooding risk on corporate investment, but unpack how government disaster preparedness serves to enhance corporate sustainability under climate uncertainty.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 926-946"},"PeriodicalIF":8.7,"publicationDate":"2025-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267397","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

Mitigating climate risk in supply chains: Empirical insights from the bullwhip effect in Chinese enterprises 缓解供应链中的气候风险：来自中国企业牛鞭效应的实证分析

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-03 DOI: 10.1016/j.eap.2025.10.006

Juying Zhang

{"title":"Mitigating climate risk in supply chains: Empirical insights from the bullwhip effect in Chinese enterprises","authors":"Juying Zhang","doi":"10.1016/j.eap.2025.10.006","DOIUrl":"10.1016/j.eap.2025.10.006","url":null,"abstract":"<div><div>Corporate supply chain management increasingly emphasizes adaptability and resilience in response to growing climate risks. This study examines how climate risk exposure influences firms’ ability to mitigate the bullwhip effect in supply chain. Using data from Chinese A-share listed firms (2007–2022), a climate risk exposure index is constructed through textual analysis of annual reports. The findings reveal that firms with greater climate risk exposure actively reduce the bullwhip effect, enhancing supply chain stability. Key mechanisms driving this improvement include inventory optimization, digital transformation, and increased supply chain concentration. Heterogeneity analysis shows that resource-advantaged firms and those in competitive industries benefit more significantly. Additionally, the impact of climate risks varies: while extreme risks intensify supply-demand imbalances, chronic risks improve long-term supply chain resilience, and transition risks exhibit delayed effects. These insights highlight how firms adapt their supply chain strategies to climate risks, promoting operational stability and resilience in the face of increasing environmental uncertainties.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 888-902"},"PeriodicalIF":8.7,"publicationDate":"2025-10-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267400","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 impact of digital finance on households’ financial literacy 数字金融对家庭金融素养的影响

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-02 DOI: 10.1016/j.eap.2025.10.009

Dongsong Cai , Junhao Kou , Yao He

引用次数: 0

The real effect of pilot free trade zones: Evidence from shadow banking activities 自由贸易试验区的实际效果：来自影子银行活动的证据

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-02 DOI: 10.1016/j.eap.2025.10.001

Juanjuan Guo , Shihao Wang , Chang Liu

引用次数: 0

Assessing the role of Environmental Legislation in Mitigating Climate Risk in GCC: A quantile ARDL approach 评估海湾合作委员会环境立法在减轻气候风险方面的作用：分位数ARDL方法

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-02 DOI: 10.1016/j.eap.2025.10.007

Mohamed Sami Ben Ali, Alanoud Al-Maadid, Kamal Si Mohammed

{"title":"Assessing the role of Environmental Legislation in Mitigating Climate Risk in GCC: A quantile ARDL approach","authors":"Mohamed Sami Ben Ali, Alanoud Al-Maadid, Kamal Si Mohammed","doi":"10.1016/j.eap.2025.10.007","DOIUrl":"10.1016/j.eap.2025.10.007","url":null,"abstract":"<div><div>Climate risk manifested through rising temperatures, extreme weather events, and ecological degradation poses a growing threat to environmental and economic stability, particularly in resource-dependent regions such as the Gulf Cooperation Council (GCC). This paper aims to empirically examine the short- and long-term effects of environmental legislation on climate risk, considering the roles of eco-friendly regulations, Information and Communication Technology (ICT), and domestic extraction in the GCC countries. Using the panel Quantile ARDL technique, the findings suggest that climate legislation effectively mitigates climate risk. This effect is notably increased at the upper quantile in the long run. A similar effect of ICT indicates its vital role in managing climate risk. On the contrary, GDP significantly exacerbates climate risk, especially at lower and median quantiles in the short term. The results demonstrate the uni-directional effect of climate legislation and ICT on climate risk, illustrating the effectiveness of ICT and regulatory measures in addressing climate challenges. These findings underscore the significance of the legislative framework in mitigating climate risk, underscoring the need for new policy interventions to address climate vulnerability.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 801-816"},"PeriodicalIF":8.7,"publicationDate":"2025-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267403","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

Long-term benefits of early childhood education on educational attainment in rural China: kindergarten V.S. preschool 中国农村儿童早期教育对教育成就的长期效益：幼儿园与学前教育

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-02 DOI: 10.1016/j.eap.2025.10.003

Yunli Bai , Yuhe Guo , Shaoping Li , Chengfang Liu , Linxiu Zhang

{"title":"Long-term benefits of early childhood education on educational attainment in rural China: kindergarten V.S. preschool","authors":"Yunli Bai , Yuhe Guo , Shaoping Li , Chengfang Liu , Linxiu Zhang","doi":"10.1016/j.eap.2025.10.003","DOIUrl":"10.1016/j.eap.2025.10.003","url":null,"abstract":"<div><div>This paper estimates the long-term benefits of kindergarten and preschool on postcompulsory educational attainment in rural China. Drawing on the data from the 2016 China Rural Development Survey (CRDS) with a nationally representative sample covering 2,000 rural households at 100 villages in 5 provinces, we employed family fixed effects model (FFE) and instrumental variable (IV) approaches to overcome the endogeneity of ECE experience. The results show that rural people with any ECE experience (including kindergarten and preschool) were 12.5 percentage points more likely to be enrolled in academic senior high school. Further analysis reveals that these effects are primarily attributable to kindergarten experience rather than preschool experience. We do not find any heterogeneous effects by gender, age, birth order, or mother's education. The results from the instrumental variable approach remain substantially the same. These findings imply that investing in rural kindergarten education contributes to rural human capital accumulation at the post-compulsory level.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 858-869"},"PeriodicalIF":8.7,"publicationDate":"2025-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267405","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 impact and mechanism of carbon-biased technological advancement on regional sustainable development 碳偏技术进步对区域可持续发展的影响及机制

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-02 DOI: 10.1016/j.eap.2025.10.005

Minggang Wang , Yuanyuan Song , Hua Xu , Lixin Tian

{"title":"The impact and mechanism of carbon-biased technological advancement on regional sustainable development","authors":"Minggang Wang , Yuanyuan Song , Hua Xu , Lixin Tian","doi":"10.1016/j.eap.2025.10.005","DOIUrl":"10.1016/j.eap.2025.10.005","url":null,"abstract":"<div><div>Presently, the sustainable transformation of economies and societies is among the most crucial global issues. Thus, it is important to study the actual effects of technological-development trends on sustainable development (SD) and the role of channels. This study examines the factor-biased technical-advancement index of 30 Chinese provinces from 2010 to 2021 by adding labor, capital, and carbon resources to the transcendental logarithmic stochastic-frontier production function. We build a spatial Durbin model. The results are as follows. (1) China’s overall technological advancement in 2010–2021 favors labor use, capital use, and carbon saving, with there being a higher degree of bias toward labor use and carbon savings. (2) Technological advancement in eastern, northeastern, central, and western China has successively transformed from carbon use to carbon saving. (3) Carbon-biased technological advancement has a dual effect on regional SD, and the balance between these two impacts determines the overall effect of the SD level. (4) Technological advancements that favor labor and carbon can promote regional SD by elevating human capital, but technological advancements favored capital and carbon can increase energy intensity and obstruct SD. (5) The influence of biased technological advancement on SD is positively moderated by environmental regulation, but there are negative spatial spillovers. Thus, it is urgent to formulate differentiated policies on low-carbon technological advancement, increase the training and incentives for green innovation, and revise reasonable energy-saving and environmental-protection regulations to achieve a solid blueprint for SD.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 734-755"},"PeriodicalIF":8.7,"publicationDate":"2025-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145267398","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

Circular city construction and energy efficiency: Evidence from China’s ‘circular economy demonstration cities’ 循环城市建设与能源效率：来自中国“循环经济示范城市”的证据

IF 8.7 2区经济学

Economic Analysis and Policy Pub Date : 2025-10-01 DOI: 10.1016/j.eap.2025.10.004

Rongji Wang , Yan Zhang , Wei Wan , Dongbei Bai , Jue Wang

{"title":"Circular city construction and energy efficiency: Evidence from China’s ‘circular economy demonstration cities’","authors":"Rongji Wang , Yan Zhang , Wei Wan , Dongbei Bai , Jue Wang","doi":"10.1016/j.eap.2025.10.004","DOIUrl":"10.1016/j.eap.2025.10.004","url":null,"abstract":"<div><div>Improving energy efficiency is an important pathway for developing countries to achieve carbon emission reduction. This paper examines the impact of China’s environmental policy—the Circular Economy Demonstration Cities (CEDCs)—on energy efficiency at the prefecture level, adopting both theoretical and empirical approaches. Our findings indicate that the implementation of CEDCs significantly enhances energy efficiency, and the conclusion still holds after various robustness tests. Mechanism analysis reveals that the improvement in energy efficiency is primarily driven by increased green technological innovation, the deepening of green finance development, industrial upgrading and greater public attention to circular economy practices. Heterogeneity analysis further indicates that the policy effects are more pronounced in resource-based cities characterized by higher levels of industrial agglomeration and environmental regulation. Additionally, soft constraints on economic growth targets help to reinforce the effectiveness of the CEDCs policy. Further analysis shows that the CEDCs policy can effectively enhance social welfare and constitutes an important measure for achieving Pareto improvements. This study provides an institutional explanation for the improvement of energy efficiency in China and offers important insights for developing countries in designing incentive-compatible policy mechanisms.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"88 ","pages":"Pages 817-844"},"PeriodicalIF":8.7,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145266844","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