Economic Analysis and Policy最新文献

The impact of public data openness on corporate supply chain efficiency: A quasi-natural experiment based on a local government data openness platform 公共数据开放对企业供应链效率的影响——基于地方政府数据开放平台的准自然实验

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-19 DOI: 10.1016/j.eap.2025.07.010

Wenqi Liao , Ling Zhuo

{"title":"The impact of public data openness on corporate supply chain efficiency: A quasi-natural experiment based on a local government data openness platform","authors":"Wenqi Liao , Ling Zhuo","doi":"10.1016/j.eap.2025.07.010","DOIUrl":"10.1016/j.eap.2025.07.010","url":null,"abstract":"<div><div>This paper examines the impact of public data openness (PDO) on supply chain efficiency (SCE). PDO is a key initiative for advancing digital transformation in public services and promoting high-quality economic development. We use the launch of public data platforms by Chinese local governments as a quasi-natural experiment, with firm-level data from 2008 to 2022, and find that PDO reduces inventory turnover days and thus enhances SCE. Our results remain robust after addressing potential endogeneity and conducting various robustness checks. Mechanism analysis indicates that PDO achieves these effects by accelerating digital transformation, enhancing inter-firm synergy, and optimizing the urban business environment. Further, heterogeneity analysis indicates different impacts across firm types — with stronger impacts on private and technology-intensive firms — and under varying policy environments. We recommend that local governments strengthen public data platform development, promote digital transformation, and enhance intellectual property protection to fully harness the power of data and foster high-quality economic growth.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1557-1574"},"PeriodicalIF":7.9,"publicationDate":"2025-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144678763","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

Empowering resilience of urban energy system in China: How does digital economy matter? 增强中国城市能源系统的弹性：数字经济如何发挥作用？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-18 DOI: 10.1016/j.eap.2025.07.031

Jun Zhao , Yalin Lei , Hongyun Huang , Xiaomeng Zhao

{"title":"Empowering resilience of urban energy system in China: How does digital economy matter?","authors":"Jun Zhao , Yalin Lei , Hongyun Huang , Xiaomeng Zhao","doi":"10.1016/j.eap.2025.07.031","DOIUrl":"10.1016/j.eap.2025.07.031","url":null,"abstract":"<div><div>Empowering energy security with the digital economy is a vital national strategic initiative, and it is urgent to explore whether China’s urban energy system can leverage the opportunities of the digital economy to enhance its resilience. We, thus, take 286 cities as research objects, construct an energy system resilience (ESR) index system from three dimensions of robustness, recoverability, and adaptability, and gauge the urban ESR from 2010 to 2019. On this basis, this article quantitatively discusses the actual effect and heterogeneity of the digital economy on urban ESR. We find: (1) the ESR values of 286 cities show a stable situation followed by an obvious increase and a sharp decline from 2010 to 2019, and cities with higher and lower ESR levels are located in the northeast and southwest China, respectively; (2) the current development of the digital economy cannot stimulate and empower urban ESR enhancement, which stems from the negative impacts of the digital economy on energy productivity and industrial upgrading; and (3) the negative digitization-ESR nexus is mainly manifested in the midwestern cities, middle- and small-scale cities, non-provincial capitals, and the middle Yangtze River and Chongqing-Chengdu cities. This study, consequently, proposes some targeted policy implications.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1575-1594"},"PeriodicalIF":7.9,"publicationDate":"2025-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144686120","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

Is market integration conducive to carbon reduction? Evidence from Chinese cities 市场一体化是否有利于碳减排？来自中国城市的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-17 DOI: 10.1016/j.eap.2025.07.029

Lang Li, Nengsheng Luo

{"title":"Is market integration conducive to carbon reduction? Evidence from Chinese cities","authors":"Lang Li, Nengsheng Luo","doi":"10.1016/j.eap.2025.07.029","DOIUrl":"10.1016/j.eap.2025.07.029","url":null,"abstract":"<div><div>Reducing carbon emissions is a key measure to mitigate global warming and presents a vital opportunity for economic transformation. This paper, based on models of free trade's environmental impact, theoretically explores the mechanisms through which market integration affects carbon emissions. Using data from Chinese prefecture-level cities between 2003 and 2022, it empirically examines the carbon reduction effects of market integration, its influencing mechanisms, the moderating effects of related factors, and inter-regional carbon transfer dynamics. The findings indicate that increased market integration helps reduce carbon emission intensity but exacerbates inequalities in regional carbon reduction responsibilities. Specifically, a 1 % increase in market integration reduces carbon emission intensity by approximately 0.06 %. Market integration achieves emissions reduction primarily through improvements in energy efficiency, industrial upgrading, and green technological innovation. The carbon reduction effects of market integration vary across different markets, regions, and city types. Additionally, market integration enhances the carbon reduction impact of environmental regulations, while greater openness to international markets amplifies the carbon reduction effects of market integration. Grounded in China’s unique political system, this study provides valuable insights for optimizing the coordination between domestic market integration and carbon reduction strategies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1595-1611"},"PeriodicalIF":7.9,"publicationDate":"2025-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144686119","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 regulations and the greenwashing of corporate ESG reports 环境法规和企业ESG报告的绿色化

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-17 DOI: 10.1016/j.eap.2025.07.030

Chenli Fang , Zhitao Wang , Lu Zhao

{"title":"Environmental regulations and the greenwashing of corporate ESG reports","authors":"Chenli Fang , Zhitao Wang , Lu Zhao","doi":"10.1016/j.eap.2025.07.030","DOIUrl":"10.1016/j.eap.2025.07.030","url":null,"abstract":"<div><div>This study uses data from listed companies that have published corporate social responsibility (CSR) reports from 2008 to 2022 to construct a greenwashing index for environmental, social, and governance (ESG) reports and explores the effect of environmental regulations on the greenwashing of ESG reports. The results show that environmental regulations significantly increase the greenwashing of corporate ESG reports and corporate ESG disclosure caters to certain policies. The results of mechanism test show that environmental regulations force companies to greenwash their ESG reports more by increasing the financing constraints faced by companies. The results of heterogeneity analysis reveal that environmental regulations have a more pronounced effect on the greenwashing of ESG reporting in companies with a low level of institutional ownership and no foreign ownership and highly polluting enterprises. These results show that environmental regulations aimed at strengthening environmental governance in companies have unintended negative effects on the quality of corporate ESG disclosure. The findings of this study both analyze the causes of the greenwashing of corporate ESG reports from the perspective of environmental regulations and provide insights into how to curb the greenwashing and improve the information environment of the capital market.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1469-1481"},"PeriodicalIF":7.9,"publicationDate":"2025-07-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144672144","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

Civil recognition and urban entrepreneurship: Evidence from China 公民认同与城市创业：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-14 DOI: 10.1016/j.eap.2025.07.027

Changyu Hu , Qicheng Zhao , Ruiyun Ma , Yugang Yin

引用次数: 0

Social credit system and the alleviation of investment–financing maturity mismatch in China 社会信用体系与中国投融资期限错配的缓解

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-14 DOI: 10.1016/j.eap.2025.07.022

Shuzhen Liang , Yongwei Ye , Ruifeng Zhang

{"title":"Social credit system and the alleviation of investment–financing maturity mismatch in China","authors":"Shuzhen Liang , Yongwei Ye , Ruifeng Zhang","doi":"10.1016/j.eap.2025.07.022","DOIUrl":"10.1016/j.eap.2025.07.022","url":null,"abstract":"<div><div>Does improving social credit alleviate the maturity mismatch between investment and financing? We investigate this question in the context of China by leveraging the implementation of the Social Credit System (SCS) as a quasi-natural experiment. Employing a time-varying difference-in-differences model, we find that the SCS significantly curbs the practice of using short-term debt to finance long-term investments among private enterprises. Mechanism analysis reveals that the SCS improves the credit environment at the macro level while optimizing bank lending behavior and enhancing enterprise credit accessibility at the micro level, thereby alleviating the maturity mismatch. Heterogeneity analysis shows that this mitigating effect is more pronounced for firms facing higher financing constraints, limited collateral, greater investment demand, and higher R&D intensity. Further analysis indicates that the SCS promotes increased factor input among private enterprises. Overall, the study underscores the role of enhanced financial information, facilitated by the SCS, in reducing systemic financial risks.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1415-1435"},"PeriodicalIF":7.9,"publicationDate":"2025-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144661997","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

Risk contagion among renewable energy, fossil energy and agricultural commodity markets: Insights from dynamic networks 可再生能源、化石能源和农产品市场的风险传染：来自动态网络的洞察

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-14 DOI: 10.1016/j.eap.2025.07.024

Yujia Jin , Ailian Zhang , Bai Liu

{"title":"Risk contagion among renewable energy, fossil energy and agricultural commodity markets: Insights from dynamic networks","authors":"Yujia Jin , Ailian Zhang , Bai Liu","doi":"10.1016/j.eap.2025.07.024","DOIUrl":"10.1016/j.eap.2025.07.024","url":null,"abstract":"<div><div>Although global energy transition fundamentally reshapes interdependencies between fossil energy-renewable energy-agricultural commodity (FRA) markets, the intricate risk contagion within FRA market system remains underexplored. Using dynamic spillover and risk network analysis, this study investigates risk contagion within the FRA system comparing the representative markets in China and the US, and further identifies the impact of extreme events. The findings reveal that agricultural commodity market acts as the dominant bridge for risk spillover between fossil and renewable energy markets due to bioenergy demand and cost linkages. Extreme events dynamically change risk transmission networks, exhibiting pronounced market heterogeneity. Structural and institutional differences of Chinese and the US markets form fundamentally distinct risk propagation pathways. China’s renewable energy shifts from risk transmitter to recipient during trade conflicts, while the US fossil energy amplifies risk absorption during supply disruptions. These findings improve risk supervision for policymakers and investors during energy transition.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1361-1378"},"PeriodicalIF":7.9,"publicationDate":"2025-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144653441","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

Capitalisation of onshore wind turbines on property prices in Sweden: The need to compensate for negative externalities 瑞典陆上风力涡轮机对房地产价格的资本化：补偿负外部性的必要性

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-14 DOI: 10.1016/j.eap.2025.07.025

Hans Westlund , Mats Wilhelmsson

{"title":"Capitalisation of onshore wind turbines on property prices in Sweden: The need to compensate for negative externalities","authors":"Hans Westlund , Mats Wilhelmsson","doi":"10.1016/j.eap.2025.07.025","DOIUrl":"10.1016/j.eap.2025.07.025","url":null,"abstract":"<div><div>Due to, for example, disturbing sound and deteriorated scenery, wind turbines might constitute a negative externality. By using a revealed preference method, we examine the impact of onshore wind turbines on property values in Sweden, analysing over 600,000 real estate transactions from 2005 to 2018. We find that wind turbines are built in areas with lower prices in general (as they are built outside population centres), that property values start declining when a building process is started (due to anticipations of negative impacts) and that the price decline continues after the wind turbine has been commissioned (due to the perceived negative effects). Property values within 2 km of wind turbines decrease by approximately 10–15 %, diminishing the effect to zero beyond 6–10 km. There are significant differences in capitalizsation between regions, with higher capitalisation effects in southern Sweden. These findings suggest the need for policies to internalise external costs and compensate affected property owners, contributing to informed planning for sustainable energy development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1452-1468"},"PeriodicalIF":7.9,"publicationDate":"2025-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144665856","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

Place-based policies, financial friction, and city size: Evidence from China’s institutional opening-up 地域性政策、金融摩擦与城市规模：来自中国制度开放的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-11 DOI: 10.1016/j.eap.2025.07.016

Zhenyu Wang

{"title":"Place-based policies, financial friction, and city size: Evidence from China’s institutional opening-up","authors":"Zhenyu Wang","doi":"10.1016/j.eap.2025.07.016","DOIUrl":"10.1016/j.eap.2025.07.016","url":null,"abstract":"<div><div>This paper investigates the impact of place-based economic policies on urban growth trajectories, focusing on the Institutional Opening-up (IOP) policy implemented through Pilot Free Trade Zones since 2013. Using a multi-period difference-in-differences approach, we find that IOP significantly increases city size, evidenced by an 8.87 % growth in the resident population of the treated cities. To explore the mechanisms underlying this expansion, we develop a spatial general equilibrium model incorporating a financial intermediation sector. The model posits that both innovation enhancement and the alleviation of financial frictions play significant roles in driving urban growth, with these insights corroborated by empirical analysis at both the city and firm levels. However, the policy also exacerbates urban growth imbalances. While cities within 100 km of treated zones experience positive spillover effects, those within the 100–300 km range suffer significant siphoning effects. Migration survey data at the individual level suggests that these siphoning effects occur as treated cities attract labor from more distant areas while simultaneously reinforcing the settlement intentions of migrants.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"87 ","pages":"Pages 1522-1556"},"PeriodicalIF":7.9,"publicationDate":"2025-07-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144678762","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

Are digital payments driven by wealth inequality? Evidence from analysis of the unified payments interface (UPI) adoption in India 数字支付是由财富不平等驱动的吗？来自印度统一支付接口（UPI）采用分析的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-07-10 DOI: 10.1016/j.eap.2025.07.014

Rajesh Gupta , Arjun Anand , Tanya Gupta

引用次数: 0