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Evaluation and influencing factors of sustainable economic development: A spatial analysis in the Yellow River Basin
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-08 DOI: 10.1016/j.eap.2025.01.012
Zhenhua Zhang , Chao Hua , Malin Song , Marshall S. Jiang , Jianjun Miao , Xue-Li Chen
{"title":"Evaluation and influencing factors of sustainable economic development: A spatial analysis in the Yellow River Basin","authors":"Zhenhua Zhang ,&nbsp;Chao Hua ,&nbsp;Malin Song ,&nbsp;Marshall S. Jiang ,&nbsp;Jianjun Miao ,&nbsp;Xue-Li Chen","doi":"10.1016/j.eap.2025.01.012","DOIUrl":"10.1016/j.eap.2025.01.012","url":null,"abstract":"<div><div>River basin cities often face significant conflicts between human activities and the environment. The Yellow River Basin, known for its long-standing energy industry, is one of China's key focus areas for developing new quality productive forces and promoting sustainable economic development (SED). This study employs a grey-weighted Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS) to analyze panel data from 99 cities in the Yellow River Basin (YRB) from 2006 to 2019, evaluating the region's SED. Spatial econometric models are used to identify influencing factors. The results indicate that SED in the YRB exhibits strong positive spatial autocorrelation. Financial development has an N-shaped curve effect on SED, with its influence extending to surrounding areas. Human capital and foreign direct investment positively impact SED, while informatization inhibits it. Energy consumption efficiency significantly promotes SED. The impacts of all factors on SED are more pronounced in regions with higher real GDP per capita. Government control suppresses SED in high-economy areas but promotes it in low-economy areas. This research can help countries formulate local plans to promote SED in river basin cities.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 997-1011"},"PeriodicalIF":7.9,"publicationDate":"2025-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132729","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
Impact of regional finance reform and innovation policies on green innovation in pilot cities: A quasi-natural experiment
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-06 DOI: 10.1016/j.eap.2025.01.005
Shen Zhong, Zhicheng Zhou, Wei Gao
{"title":"Impact of regional finance reform and innovation policies on green innovation in pilot cities: A quasi-natural experiment","authors":"Shen Zhong,&nbsp;Zhicheng Zhou,&nbsp;Wei Gao","doi":"10.1016/j.eap.2025.01.005","DOIUrl":"10.1016/j.eap.2025.01.005","url":null,"abstract":"<div><div>Green innovation (GI) is crucial for improving public health, and regional financial reform and innovation (RFRI) policies play a key role in promoting financial development (FD) and enhancing innovation capacity (IC), thereby advancing GI. This paper systematically analyzes the relationship between RFRI policies and GI, utilizing panel data from 281 Chinese cities from 2003 to 2021 and employing a multi-period difference-in-differences (DID) model. The main conclusions of this paper are as follows: First, RFRI policies significantly promote GI in pilot areas, and this conclusion holds after a series of robustness tests. Second, RFRI policies enhance GI by fostering FD and IC. Third, an analysis of individual policies reveals that open and innovative RFRI policies have the most significant impact, while shared policies have a relatively weaker effect. Finally, heterogeneity analysis further shows that the effect of RFRI policies on GI is stronger in cities not subject to environmental protection interviews, regions with higher environmental protection taxes, areas with lower public environmental concern, general cities, and eastern regions. This study explores whether RFRI policies can promote GI, providing empirical evidence and policy recommendations for China's financial reforms and the green transformation of its economic development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 888-911"},"PeriodicalIF":7.9,"publicationDate":"2025-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132293","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
Evolving impacts of fiscal policy on macroeconomic fluctuations in Peru
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-06 DOI: 10.1016/j.eap.2024.12.019
Alexander Meléndez , Gabriel Rodríguez
{"title":"Evolving impacts of fiscal policy on macroeconomic fluctuations in Peru","authors":"Alexander Meléndez ,&nbsp;Gabriel Rodríguez","doi":"10.1016/j.eap.2024.12.019","DOIUrl":"10.1016/j.eap.2024.12.019","url":null,"abstract":"<div><div>This study assesses the evolving impact of fiscal policy on Peru’s economic activity in 1995Q1-2018Q2 using unrestricted and restricted TVP-VAR-SV models as proposed by Chan and Eisenstat (2018a). The results highlight the necessity of including stochastic volatility, although there is no clear evidence for time-varying parameters. Shocks from government consumption growth and public investment growth significantly influence the forecast error variance decomposition and the historical decomposition of GDP growth. Conversely, the impact of tax revenue shocks remains weak throughout the study period. The public investment multiplier exceeds that of government consumption although both are less than 1, suggesting a limited capacity of fiscal policy to stimulate economic activity. The study also finds that external shocks (export price index growth) have a strong and positive impact on tax revenue growth. A series of robustness exercises further confirms these results.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1135-1158"},"PeriodicalIF":7.9,"publicationDate":"2025-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132292","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
Government power delegation and the policy burden of state-owned enterprises
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-05 DOI: 10.1016/j.eap.2025.01.009
Mengchao Yao , Qianwei Ying
{"title":"Government power delegation and the policy burden of state-owned enterprises","authors":"Mengchao Yao ,&nbsp;Qianwei Ying","doi":"10.1016/j.eap.2025.01.009","DOIUrl":"10.1016/j.eap.2025.01.009","url":null,"abstract":"<div><div>State-owned enterprises (SOEs) constitute a pivotal component of the Chinese economy and maintain a robust relationship with the government. While existing literature predominantly examines the effects of governance and policy burdens on SOEs, the exploration of policy burden transmission through government intervention mechanisms remains underexplored. To clarify the transmission mechanisms and potential impacts of policy burdens, we scrutinize the impact of government power delegation on the policy burdens of SOEs in China. Government power delegation is designed to curtail the government's authority through comprehensive internal reforms. This investigation evaluates the intensity of government power delegation employing a novel textual analysis methodology termed “words net”. Our findings corroborate that local government power delegation alleviates policy burdens in SOEs. The robustness of our findings is affirmed through comprehensive robustness checks and addressing endogeneity concerns via instrumental variables and difference-in diference. Furthermore, this effect is markedly amplified in the context of local SOEs and those with diminished promotional opportunities. Moreover, it attenuates the detrimental impact on firm value engendered by policy burdens. The reconfiguration of the government's role elucidated in this paper yields valuable insights into economic development strategies for China and regions with analogous conditions.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 912-927"},"PeriodicalIF":7.9,"publicationDate":"2025-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132017","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
Encouraging or inhibiting: Can analyst attention reduce corporate greenwashing behavior?
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-05 DOI: 10.1016/j.eap.2025.01.007
Mengzhi Zhang , Wenjian He
{"title":"Encouraging or inhibiting: Can analyst attention reduce corporate greenwashing behavior?","authors":"Mengzhi Zhang ,&nbsp;Wenjian He","doi":"10.1016/j.eap.2025.01.007","DOIUrl":"10.1016/j.eap.2025.01.007","url":null,"abstract":"<div><div>As an essential mechanism of corporate external governance, it is worth considering whether analyst attention can inhibit corporate greenwashing behavior. Based on the theoretical exploration of the mechanism of analyst attention on corporate greenwashing behavior, this paper, using the data of Chinese A-share non-financial listed companies, quantitatively finds that analyst attention does not inhibit but rather encourages corporate greenwashing. After a series of robustness tests, the baseline regression results remain consistent. The mechanism test reveals that analyst attention encourages greenwashing due to the information asymmetry, which creates short-term performance pressure. This pressure displaces investments in environmental governance, ultimately increasing the motivation for greenwashing, rather than being driven by collusion between the two parties. Heterogeneity analysis indicates that analyst attention contributes more significantly to corporate greenwashing behavior among non-state-owned firms and firms with a high shareholding ratio of short-term institutional investors. These findings offer valuable insights for developing analyst practices and promoting genuine corporate environmental responsibility.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 943-962"},"PeriodicalIF":7.9,"publicationDate":"2025-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132016","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 effect of tax enforcement digitalization on corporate digital transformation: Evidence from China's listed companies
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-05 DOI: 10.1016/j.eap.2025.01.008
Yanhui Xu , Fuhua Deng , Qianbin Feng
{"title":"The effect of tax enforcement digitalization on corporate digital transformation: Evidence from China's listed companies","authors":"Yanhui Xu ,&nbsp;Fuhua Deng ,&nbsp;Qianbin Feng","doi":"10.1016/j.eap.2025.01.008","DOIUrl":"10.1016/j.eap.2025.01.008","url":null,"abstract":"<div><div>In China, the policy of tax enforcement digitalization has been introduced with the implementation of the CTAIS-3 project. In this policy context, we study the impact of tax enforcement digitization on corporate digital transformation (CDTM) from both theoretical and empirical perspectives. Our results suggest that the introduction of tax enforcement digitalization inhibits CDTM, and further mechanism investigation indicates that this impact is realized through two channels: increasing the tax burden on firms and reducing firms' risk preference. Heterogeneity analysis shows that at the provincial level, the negative impact of tax enforcement digitalization on CDTM is greater in provinces with greater fiscal pressure and worse marketization level. At the firm level, the negative effect of tax enforcement digitalization on CDTM is more significant for firms with lower levels of governance and firms with greater fiscal constraints. In addition, we find that the CTAIS-3 project does help governments to provide more subsidies to innovative firms, but does not further reduce or improve CDTM. Our study reveals the potential economic consequences of the implementation of tax enforcement digitalization policies at the micro-firm level, which provides a useful reference for future tax reforms in developing countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1105-1134"},"PeriodicalIF":7.9,"publicationDate":"2025-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132023","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
On ESG and corporate employment decision: Evidence from Chinese listed firms in 2009–2022
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-04 DOI: 10.1016/j.eap.2025.01.004
Yichi Jiang , Xuanyue Zhang , Shujie Yao
{"title":"On ESG and corporate employment decision: Evidence from Chinese listed firms in 2009–2022","authors":"Yichi Jiang ,&nbsp;Xuanyue Zhang ,&nbsp;Shujie Yao","doi":"10.1016/j.eap.2025.01.004","DOIUrl":"10.1016/j.eap.2025.01.004","url":null,"abstract":"<div><div>Implementing effective ESG management may enable firms to improve performance and create employment opportunities. This paper investigates the relationship between ESG practices and corporate employment decisions in the context of Chinese listed firms, aiming to understand how sustainability initiatives affect workforce dynamics. With unbalanced panel data of Chinese A-share listed firms spanning 2009–2022, the empirical results show that heightened ESG practices are positively associated with larger employment scales and a greater proportion of highly-skilled and highly-educated employees within firms. Channel analysis reveals that ESG practices contribute to optimizing employment structure through easing financing constraints, mitigating operational risks, and enhancing production efficiency. In addition, the impact of ESG practices on corporate employment is more pronounced in state-owned, large firms in non-labor-intensive industries, and firms in the growth phase. Furthermore, ESG practices could also enhance corporate innovation capabilities through expanding employment scale and optimizing employment structure. The research results provide valuable insights for corporate leaders and other stakeholders, highlighting the importance of integrating sustainability considerations into corporate strategies to drive innovation, to mitigate risks, and to promote inclusive growth.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 854-869"},"PeriodicalIF":7.9,"publicationDate":"2025-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132020","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
Climate finance for energy security: An empirical analysis from a global perspective
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-04 DOI: 10.1016/j.eap.2025.01.006
Chi-Chuan Lee , Yuzhu Fang
{"title":"Climate finance for energy security: An empirical analysis from a global perspective","authors":"Chi-Chuan Lee ,&nbsp;Yuzhu Fang","doi":"10.1016/j.eap.2025.01.006","DOIUrl":"10.1016/j.eap.2025.01.006","url":null,"abstract":"<div><div>Energy security has always been a global concern. Based on the OECD project database and employing a new data processing method, this research takes 80 countries as a sample to empirically analyze climate finance's impact on energy security from 2010 to 2020. The results indicate that climate finance significantly positively affects energy security of recipient countries. Particularly, its effect at enhancing energy security is more pronounced in lower-income countries, whereas in contrast its impact on high-income countries is not significant. Additionally, countries with balance of payments deficits benefit more from climate finance. Regarding potential impact mechanisms, technological progress is important through which climate finance affects energy security, while no significant correlation appears with private sector energy investment. Moreover, quantile regression analysis demonstrates a more pronounced positive impact of climate finance on countries with lower energy security levels. Conversely, the threshold regression model indicates a negative effect of climate finance on energy security in nations with weaker global governance capacity. Drawing upon these findings, this paper presents targeted policy recommendations aimed at optimizing the distribution of global climate finance and resources, fostering the attainment of international climate objectives, and promoting sustainable economic development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 963-978"},"PeriodicalIF":7.9,"publicationDate":"2025-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132297","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 environmental policy stringency and oil prices on innovation: Evidence from the new energy vehicle industry in China
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-04 DOI: 10.1016/j.eap.2025.01.003
Jianhua Huangfu , Weixian Wei , Lei Yu , Guoliang Li
{"title":"The impact of environmental policy stringency and oil prices on innovation: Evidence from the new energy vehicle industry in China","authors":"Jianhua Huangfu ,&nbsp;Weixian Wei ,&nbsp;Lei Yu ,&nbsp;Guoliang Li","doi":"10.1016/j.eap.2025.01.003","DOIUrl":"10.1016/j.eap.2025.01.003","url":null,"abstract":"<div><div>New Energy Vehicles (NEVs) have emerged as a critical technological strategy for decarbonizing road transport. This study examines the drivers of innovation in China's NEVs sector, with a particular focus on the induced innovation effects of environmental policy stringency (EPS) and oil prices. Utilizing the Autoregressive Distributed Lag (ARDL) model, we investigate the key drivers of NEVs innovation in China from 1990 to 2020. To further capture the dynamic nature of innovation processes, we employ the novel Dynamic Autoregressive Distributed Lag (DYARDL) simulations model, investigating the response of innovations in the NEVs industry to counterfactual changes in oil prices and EPS. The findings reveal that NEVs innovation in China is significantly influenced by EPS, oil prices, and potential market conditions in the short term. While EPS and potential market conditions continue to be key drivers of NEVs innovation, the induced innovation effect of oil prices in the NEVs industry is eroding in the long term, suggesting China's NEVs sector is becoming increasingly resilient to oil price fluctuations. Furthermore, the DYARDL simulations further validate this pattern, demonstrating that increasing EPS consistently fosters NEVs innovation across both short- and long-term horizons, whereas oil price fluctuations exhibit only transient effects. Our empirical results provide valuable policy insights, emphasizing the importance of maintaining stringent and consistent environmental policies to ensure continuous innovation in the NEVs sector, which is crucial for China's transition towards sustainable transportation.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 979-996"},"PeriodicalIF":7.9,"publicationDate":"2025-01-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132021","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 determinants and blocking countermeasures of Chinese officials ‘being preyed on’
IF 7.9 2区 经济学
Economic Analysis and Policy Pub Date : 2025-01-03 DOI: 10.1016/j.eap.2025.01.002
Huihui Luo , Zhaohui Niu
{"title":"The determinants and blocking countermeasures of Chinese officials ‘being preyed on’","authors":"Huihui Luo ,&nbsp;Zhaohui Niu","doi":"10.1016/j.eap.2025.01.002","DOIUrl":"10.1016/j.eap.2025.01.002","url":null,"abstract":"<div><div>‘Preying’ and ‘being preyed on’ are metaphors for the exchange of bribes between interest groups and officials, which is a prevalent form of corruption in China. This paper investigates the determinants of officials ‘being preyed on’ and raises corresponding blocking countermeasures. We contribute to the literature by constructing a theoretically sound framework for investigating the determinants for this specific type of corruption, and empirically validating it, employing Logit and OLS models with individual-level data. We also develop an innovative metric to measure government-business collusion. Our findings indicate that internal factors such as the official's gender, age, education level, rank, and power type, alongside external factors like preying intensity, government size, economic openness, law enforcement, and urbanization, significantly influence the likelihood and intensity of officials being ‘preyed on’. The paper proposes suggestions for optimizing government personnel, enhancing oversight, addressing both bribe-giving and bribe-taking, and prioritizing economic development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 928-942"},"PeriodicalIF":7.9,"publicationDate":"2025-01-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132018","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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