Economic Analysis and Policy最新文献_第2页

Green structural monetary policy and firms’ Asymmetric carbon emission reduction: Evidence from China 绿色结构性货币政策与企业碳减排的不对称：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-19 DOI: 10.1016/j.eap.2025.05.031

Kai Wan , Xiaolin Yu

{"title":"Green structural monetary policy and firms’ Asymmetric carbon emission reduction: Evidence from China","authors":"Kai Wan , Xiaolin Yu","doi":"10.1016/j.eap.2025.05.031","DOIUrl":"10.1016/j.eap.2025.05.031","url":null,"abstract":"<div><div>Using data from Chinese listed companies, this paper examines the impact of green structural monetary policy on corporate carbon emissions and its underlying mechanisms from two perspectives: bank credit reallocation and corporate emission reduction strategies. The study finds that the impact of green structural monetary policy on corporate carbon emissions is asymmetric. While the policy significantly reduces carbon emissions for clean enterprises, its suppressive effect on emissions from heavily polluting enterprises is relatively limited. The mechanism test results indicate that in terms of bank credit decisions, the green structural credit policy restricts the financing scale of heavily polluting enterprises, increases their financing costs, and simultaneously provides credit incentives for clean enterprises. In terms of corporate carbon reduction strategies, the asymmetry of policy effects partly stems from differences in how policies influence corporate strategic behaviors. Heavily polluting firms tend to adopt “low-cost strategies,” characterized by end-of-pipe treatment investments and strategic green innovations. In contrast, clean firms are more inclined to pursue “competitive advantage strategies,” emphasizing proactive investment in prevention and substantive green innovations. Further analysis reveals that the asymmetric emissions-reduction effects of the policy are jointly influenced by external and internal factors.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1914-1928"},"PeriodicalIF":7.9,"publicationDate":"2025-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144108009","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

Green Productivity growth in Chinese Agriculture Industry–A novel approach and its empirical verification 中国农业产业绿色生产率增长的新方法及其实证验证

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-19 DOI: 10.1016/j.eap.2025.05.032

Xiang Chen , Shian-Jang Tzeng , Dan Wang

{"title":"Green Productivity growth in Chinese Agriculture Industry–A novel approach and its empirical verification","authors":"Xiang Chen , Shian-Jang Tzeng , Dan Wang","doi":"10.1016/j.eap.2025.05.032","DOIUrl":"10.1016/j.eap.2025.05.032","url":null,"abstract":"<div><div>In light of China's commitment to achieving its dual carbon goals, the emphasis on green agriculture has intensified. The green total factor productivity (TFP) in agriculture serves as a critical indicator for gauging sustainable development within this sector. This paper presents an innovative Malmquist-type green TFP index, which is derived by integrating the directional distance function into the Malmquist productivity measurement framework. This index provides an accurate representation of the current state of agricultural green development and aligns more closely with Kendrick's (1961) modern concept of productivity. From an empirical standpoint, this study assesses the green TFP in agriculture, taking into account undesirable outputs such as carbon emissions, using data from 30 Chinese provinces spanning the period from 2010 to 2021. Additionally, it offers a comparative analysis of regional disparities among the eastern, central, and western regions. Findings suggest that the Chinese agricultural sector has witnessed notable advancements in green productivity. Both efficiency changes and scale efficiency changes have been instrumental in driving this robust growth. When examined through the lens of the Wilcoxon-Mann-Whitney test, the central and western regions exhibit significantly superior productivity growth compared to the eastern region, attributed largely to their expanded scale efficiency. Conversely, the eastern region has invested more heavily in enhancing agricultural production technology, leading to a greater increase in technical efficiency than observed in other regions.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 2001-2018"},"PeriodicalIF":7.9,"publicationDate":"2025-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144170080","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 developmental social policy on household welfare: Evidence from China’s comprehensive demonstration policy for e-commerce in rural areas 发展性社会政策对家庭福利的影响——来自中国农村电子商务综合示范政策的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-19 DOI: 10.1016/j.eap.2025.05.023

Yi Gao , Jing Yang , Jingzhu Zhao , Haorong Peng

{"title":"Impact of developmental social policy on household welfare: Evidence from China’s comprehensive demonstration policy for e-commerce in rural areas","authors":"Yi Gao , Jing Yang , Jingzhu Zhao , Haorong Peng","doi":"10.1016/j.eap.2025.05.023","DOIUrl":"10.1016/j.eap.2025.05.023","url":null,"abstract":"<div><div>Developmental social policies are intended to achieve the dual objectives of economic growth and social equity through social investment; however, research on bridging the rural welfare gap and promoting equitable welfare distribution is limited. This study addresses this gap by examining the Comprehensive Demonstration Policy for E-commerce in Rural Areas (CDPER), which is a representative developmental social policy, and evaluating its impact on farmers’ welfare and income inequality. Using the CDPER as a quasi-natural experiment, we employ a staggered difference-in-differences approach with data from the China Household Finance Survey from 2013 to 2019. Key findings reveal that rural e-commerce development significantly increases household income while reducing income inequality, although farmers with limited education and those in western regions benefit less. Furthermore, the CDPER enhances farmers’ capacity, and increased digital and social capital promotes income and reduces income inequality. These findings emphasize the critical influence of developmental social policies on enhancing rural welfare and reducing inequality. The study has valuable implications for policymakers leveraging developmental social policies to achieve equitable and sustainable rural development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1820-1838"},"PeriodicalIF":7.9,"publicationDate":"2025-05-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144089307","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

Measurement and spatiotemporal dynamic evolution of regional ecological efficiency in China from the perspective of undesirable outputs 不良产出视角下中国区域生态效率测度及时空动态演化

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-18 DOI: 10.1016/j.eap.2025.05.028

Kang Tian , Mingyang Yu , Xiong Hong , Zhen Chen , Ke He , Haoyu Wang , Lei Shi

{"title":"Measurement and spatiotemporal dynamic evolution of regional ecological efficiency in China from the perspective of undesirable outputs","authors":"Kang Tian , Mingyang Yu , Xiong Hong , Zhen Chen , Ke He , Haoyu Wang , Lei Shi","doi":"10.1016/j.eap.2025.05.028","DOIUrl":"10.1016/j.eap.2025.05.028","url":null,"abstract":"<div><div>In the context of global resource limitations and environmental degradation, enhancing ecological efficiency has become a pivotal strategy for achieving sustainable development objectives. This research implemented a Slack-based measure Super-efficiency Data Envelopment Analysis (Super-efficiency SBM-DEA) model, incorporating undesirable outputs, to assess China's regional ecological efficiency levels and analyse their overall patterns. Three input factors-construction land, total energy consumption, and total water consumption-were used to identify the factors contributing to ecological inefficiency in each region. This study utilises spatial statistical analysis methods to quantitatively investigate the global spatial evolution characteristics of regional ecological efficiency and the transformation of Hot & Cold spot patterns. The findings reveal that the Super-efficiency SBM-DEA calculation model, which introduces pollutants such as sulfur dioxide (SO<sub>2</sub>) as undesirable output indicators, aligns the regional ecological efficiency model more closely with production realities. Under the constraints of resource endowment and the uneven spatial distribution of production factors, significant disparities in ecological efficiency are observed among provinces and municipalities (autonomous regions), with the eastern region demonstrating a notably higher ecological efficiency than the central and western regions. From a spatial perspective, China's ecological efficiency level exhibits marked volatility, though the overall index value remains low. The east-west distribution of Hot & Cold spots is distinct, with the hot spots primarily concentrated in the economically advanced eastern coastal areas. These findings provide a valuable reference for measuring ecological efficiency and developing sustainable development strategies in various countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1897-1913"},"PeriodicalIF":7.9,"publicationDate":"2025-05-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144108008","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

Unintended environmental gains: The impact of social insurance contribution cut on corporate carbon emission reduction 意外环境收益：社会保险缴费削减对企业碳减排的影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-13 DOI: 10.1016/j.eap.2025.05.022

Junjia Su , Lijin Xiang , Deng-Kui Si

{"title":"Unintended environmental gains: The impact of social insurance contribution cut on corporate carbon emission reduction","authors":"Junjia Su , Lijin Xiang , Deng-Kui Si","doi":"10.1016/j.eap.2025.05.022","DOIUrl":"10.1016/j.eap.2025.05.022","url":null,"abstract":"<div><div>This study evaluates the environmental impact of a fiscal reform, particularly focusing on the effects of social insurance contribution reductions, within the context of China's commitment to sustainable economic development. A quasi-natural experiment setup from a 2009 policy adjustment in Zhejiang Province reducing the basic old-age insurance (BOI) contribution rates has been utilized to conduct a Difference-in-Differences (DID) analysis. Using data from the National Tax Survey Database, the estimation indicates that a substantial decline in corporate carbon emissions attributable to the policy, with government environmental governance further enhancing its effectiveness through positive moderation. The policy supports low-carbon development effectively across firms of varying sizes, particularly impacting non-power generation enterprises with a notable reduction in carbon emissions. The results hold across various robustness checks. The analysissuggests that the policy eases financial constraints on enterprises, thereby facilitating additional investments in energy conservation and environmental protection. Furthermore, the policy boosts corporate profitability, enhances employment, and reduces the intensity of carbon emissions. This study presents valuable insights for policymakers aiming to align economic growth with environmental sustainability.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1839-1857"},"PeriodicalIF":7.9,"publicationDate":"2025-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144089308","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

High-speed rail expansion and housing prices in the "forgotten corners": Sub-City Level Evidence from Jiangsu Province in China 高铁扩张与“被遗忘角落”的房价：来自中国江苏省副城市层面的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-13 DOI: 10.1016/j.eap.2025.05.020

Shiyu Cheng , Chenxu Hu , Yaxiang Song

引用次数: 0

Short and longer-term effects of European regional policy 欧洲地区政策的短期和长期影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-13 DOI: 10.1016/j.eap.2025.04.036

Francesca Crucitti , Patrizio Lecca , Philippe Monfort , Simone Salotti

引用次数: 0

The emerging driving force of green transformation in resource-based cities: Does the digital economy work? 资源型城市绿色转型的新动能：数字经济管用吗？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-13 DOI: 10.1016/j.eap.2025.05.021

Ye Liang , Chuanyu Zhou , Yunfeng Wu

{"title":"The emerging driving force of green transformation in resource-based cities: Does the digital economy work?","authors":"Ye Liang , Chuanyu Zhou , Yunfeng Wu","doi":"10.1016/j.eap.2025.05.021","DOIUrl":"10.1016/j.eap.2025.05.021","url":null,"abstract":"<div><div>The green transformation is an investment by resource-based cities (RBCs) in their future development potential, with the rise of digital economy offering a new pathway to facilitate this investment. Based on panel data of 115 Chinese RBCs from 2011 to 2020, this paper quantifies green transformation efficiency (GTE) with a non-radial directional distance function (NDDF) and empirically examines the influence and mechanisms of the Big Data Comprehensive Pilot Areas (BDCPA) policy on the GTE of RBCs using a staggered difference-in-differences (DID) model. The results showed the following. (1) BDCPA significantly enhances the GTE of Chinese RBCs, confirming the vital role of digital economy in expediting their green transformation. (2) The impact of BDCPA on energy conservation and emissions reduction outweighs its influence on economic growth. Both growing and declining RBCs show a greater increase in GTE during BDCPA implementation. (3) Mechanism analysis indicates that BDCPA improves GTE primarily by promoting manufacturing upgrading, mitigating distortions in factor markets and improving the informatization level. Additionally, this paper employs social network analysis (SNA) to map the spatial correlation network of the digital economy. It unveils, for the first time, that RBCs positioned at the core of digital network have seen a more remarkable improvement effect of green transformation. This paper enriches the empirical evidence of how the digital economy empowers the green transition of RBCs and offers valuable insights for other developing countries seeking to utilize digital tools for achieving urban sustainability.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1858-1880"},"PeriodicalIF":7.9,"publicationDate":"2025-05-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144089309","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

Energy costs of market integration: Evidence from city-county merger in China 市场整合的能源成本：来自中国市县合并的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-10 DOI: 10.1016/j.eap.2025.05.018

Mingke Li , Renjun Shen , Yanlong Chen , Tonghui Ji

{"title":"Energy costs of market integration: Evidence from city-county merger in China","authors":"Mingke Li , Renjun Shen , Yanlong Chen , Tonghui Ji","doi":"10.1016/j.eap.2025.05.018","DOIUrl":"10.1016/j.eap.2025.05.018","url":null,"abstract":"<div><div>This paper aims to find the relationship between market integration, industrial distribution and energy intensity. Using energy and economic data of manufacturing firms from 1998–2005 in China, we examine the effect of market integration on firms' energy intensity by using the difference-in-differences (DID) method with the help of city-county merger reform in China. We find that the city-county merger reform significantly increased the energy intensity of firms by about 2.5 percent. The reason is that the reform creates objective conditions for capacity transfer by improving infrastructure, and it also encourages a crude development behavior through the energy factors expansion under the heterogeneous energy-saving constraints within the city. Specifically, on the one hand, the city-county merger encourages firms in new districts to expand their energy factor inputs and attracts a large number of high energy-consuming firms to the new districts. On the other hand, firms, in old districts, reduce their output and expand their energy consumption, which leads to increase their energy intensity. We also finds that the city-county merger has some environmental costs. These results suggest that the division of labor can be deepened and productivity increased only when the market size is sufficiently large, which provides an empirical evidence for market construction in developing countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1766-1786"},"PeriodicalIF":7.9,"publicationDate":"2025-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144071313","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

Short-term relief and green transformation: Evidence from the unintended environmental governance effects of China’s VAT credit refund policy 短期救济与绿色转型：来自中国增值税退税政策非预期环境治理效应的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-09 DOI: 10.1016/j.eap.2025.05.017

Tong Yue , Jian Tong , Yan Guo , Cong Zhang

{"title":"Short-term relief and green transformation: Evidence from the unintended environmental governance effects of China’s VAT credit refund policy","authors":"Tong Yue , Jian Tong , Yan Guo , Cong Zhang","doi":"10.1016/j.eap.2025.05.017","DOIUrl":"10.1016/j.eap.2025.05.017","url":null,"abstract":"<div><div>Tax incentives are important for alleviating short-term challenges and stimulating long-term transformational activities in enterprises. We utilize the Difference-in-Differences (DID) method to assess the impact of China’s value-added tax (VAT) credit refund reform on promoting green transition. We find that the VAT credit refund policy significantly reduces firms’ carbon emissions and intensity by 0.32% and 5.17%, respectively, facilitating a green transition. Mechanism analysis reveals that these reductions are achieved by alleviating liquidity constraints, fostering green innovation, and optimizing the factor structure. Following the reform, environmental expenditures and the number of green invention patents in the treatment group increase by 1.23% and 3.54%, respectively, while the energy-capital ratio decreases by 1%. Finally, based on corporate life cycle theory, we find that the carbon reduction effects of the VAT credit refund policy are particularly significant for transitional firms, which experience higher financing constraints, tax burdens, and R&D intensity. This paper contributes to the literature on VAT reform and green taxes, reexamining the role of tax incentives in guiding enterprises toward green transition.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1725-1747"},"PeriodicalIF":7.9,"publicationDate":"2025-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144069306","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