Economic Analysis and Policy最新文献_第2页

Impact of public investment on agricultural productivity growth: Evidence from China

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-02-06 DOI: 10.1016/j.eap.2025.02.005

Siqi Zhang , Rong Cai , Shujuan Wang

{"title":"Impact of public investment on agricultural productivity growth: Evidence from China","authors":"Siqi Zhang , Rong Cai , Shujuan Wang","doi":"10.1016/j.eap.2025.02.005","DOIUrl":"10.1016/j.eap.2025.02.005","url":null,"abstract":"<div><div>Based on a balanced panel dataset of 1924 counties in China from 2000 to 2021, we first evaluated the agricultural productivity using a four-component stochastic frontier model, and then employed a staggered difference-in-difference (DID) analytical framework to assess the impact of the Hundred Billion Program (HBP), a large-scale public investment in agriculture, on the growth of China's agricultural productivity. The results indicate that the HBP has a significant positive effect on agricultural productivity growth in counties where the program was implemented. Further heterogeneity analysis reveals that the HBP has predominantly positive effects on agricultural productivity growth in counties located in the Central region, as well as those with low topographic relief or low temperatures. In contrast, no significant effects were observed in counties located in the Northeastern region. Mechanism analysis suggests that public investment in agriculture not only enhances agricultural productivity by improving irrigation infrastructure and increasing agricultural machinery, but also by encouraging scaled agricultural operations. Therefore, increasing public investment in agriculture is crucial for the growth of agricultural productivity. In this regard, China's practices are worthy of emulation by other developing countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1442-1455"},"PeriodicalIF":7.9,"publicationDate":"2025-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143378074","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 digital trade development affect carbon emissions? Evidence from China

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-02-06 DOI: 10.1016/j.eap.2025.02.004

Mengyang Yang, Yawen Liu, Jingle Wang, Xiaobin Tang

{"title":"How does digital trade development affect carbon emissions? Evidence from China","authors":"Mengyang Yang, Yawen Liu, Jingle Wang, Xiaobin Tang","doi":"10.1016/j.eap.2025.02.004","DOIUrl":"10.1016/j.eap.2025.02.004","url":null,"abstract":"<div><div>Digital trade development (DTD) contributes to green economic growth across various regions and is crucial in coping with climate change. Using data from China's province-level of 2011–2021, we explore how the regional DTD affects carbon emissions (CE). Results indicate that DTD significantly affects CE with a U-shape in provinces and shows positive spatial spillover effects. Robustness checks validate our findings. Mechanism analyses indicate that DTD affects CE through expanding digital human capital, fostering green technological innovation, and upgrading the industrial structure. Further discussions demonstrate that DTD in eastern and central provinces illustrates notable spillover effects. The eastern region has an inverted U-shape, and the central region is U-shaped. Under the threshold variables of digital human capital, digital finance, and carbon emission intensity, DTD affects CE, revealing clear nonlinear effects. These results support the idea that DTD helps to decrease CE and offers valuable insights into the coordinated development of digitalization and low-carbonization among regions.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1475-1491"},"PeriodicalIF":7.9,"publicationDate":"2025-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143378075","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

Firm-level perception of uncertainty, risk aversion, and corporate real estate investment: Evidence from China's listed firms

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-02-04 DOI: 10.1016/j.eap.2025.02.002

Fengfu Mao , Yue Yuan , Fan Zhang

{"title":"Firm-level perception of uncertainty, risk aversion, and corporate real estate investment: Evidence from China's listed firms","authors":"Fengfu Mao , Yue Yuan , Fan Zhang","doi":"10.1016/j.eap.2025.02.002","DOIUrl":"10.1016/j.eap.2025.02.002","url":null,"abstract":"<div><div>Real estate, characterized as a safe asset, is a distinct component of corporate financialization. Based on the management discussion and analysis texts of Chinese listed manufacturing companies from 2007 to 2019, our study utilizes textual analysis methods to quantify firm-level perception of economic policy uncertainty and explores the impact and mechanisms of firm-level perception of uncertainty on corporate real estate investment. The findings indicate that an increase in perceived uncertainty significantly enhances corporate real estate investment. These results are robust to a series of tests, including the application of instrumental variables and alternative variable specifications. Heterogeneity analysis reveals that nonstate-owned enterprises and firms in highly marketized regions are more likely to increase their real estate investment in response to economic uncertainty. Additionally, the mechanism analysis identifies risk aversion as the channel through which firm-level perception of uncertainty influences corporate real estate investment. This research not only quantifies firm-level perception of uncertainty but also provides empirical evidence of the link between uncertainty and corporate real estate investment behaviors.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1428-1441"},"PeriodicalIF":7.9,"publicationDate":"2025-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143372460","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

Improving economic complexity index: Insights from value added

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-31 DOI: 10.1016/j.eap.2025.01.029

Lulu Zhang , Weiming Chen , Qian Zhang , Kairui You , Gang Diao

{"title":"Improving economic complexity index: Insights from value added","authors":"Lulu Zhang , Weiming Chen , Qian Zhang , Kairui You , Gang Diao","doi":"10.1016/j.eap.2025.01.029","DOIUrl":"10.1016/j.eap.2025.01.029","url":null,"abstract":"<div><div>Accurate measurement of the economic complexity index is crucial for guiding economic growth. However, the economic complexity index can be misestimated as it relies on export data with multiple value-added sources, which fails to accurately capture a country's production capability in specific activities. Thus, based on the input-output model, this study decomposes the export value of a product into three parts: foreign value added, value added from the domestic product sector, and value added from other domestic product sectors. Using the second component, this study subsequently evaluates the economic complexity of 43 countries in the Exiobase database. The effectiveness of this new measure in capturing information related to factors influencing national economic performance is further explored. The results show that, compared to the economic complexity index, the overall deviation between rankings based on the new measure and GDP per capita rankings is significantly smaller. By capturing additional information on a country's position in the global value chain, this new measure serves as a more effective tool for explaining differences in national economic development levels and forecasting economic growth.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1391-1408"},"PeriodicalIF":7.9,"publicationDate":"2025-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132301","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 loans: Navigating the path to sustainable profitability in banking

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-30 DOI: 10.1016/j.eap.2025.01.028

Ririen Setiati Riyanti , Permata Wulandari , Ruslan Prijadi , Emili Tortosa-Ausina

{"title":"Green loans: Navigating the path to sustainable profitability in banking","authors":"Ririen Setiati Riyanti , Permata Wulandari , Ruslan Prijadi , Emili Tortosa-Ausina","doi":"10.1016/j.eap.2025.01.028","DOIUrl":"10.1016/j.eap.2025.01.028","url":null,"abstract":"<div><div>This research investigates the impact of green loans distribution on the sustainable profitability performance of banks, as evaluated by measures such as Return on Assets (ROA), Return on Equity (ROE), and Net Interest Margin (NIM). The analysis examined reports and websites of Indonesian banks, specifically targeting 89 conventional banks unaffected by any governance changes, such as mergers, acquisitions, or conversion to Sharia Banks, over the duration of the study. The research used panel regression analysis and included bank-specific features as control variables. The results demonstrate that the presence of green loans in a bank's loan portfolio negatively impacts its profitability. Several variables affect the strength of the correlation between green loans and bank profits. Banks' green loans sustainable profitability performance and the economic advantages that follow should be investigated concerning several elements, not just the degree of green development. This paper's research contribution will help commercial banks to improve their financial performance by implementing green loans policies. The government can then further improve these policies to motivate banks to implement green loans and achieve sustainable development. The government should strengthen green loans incentive policies and commercial banks should aggressively expand their green loans operations to encourage the coordinated growth of green finance and an environmentally friendly economy.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1613-1624"},"PeriodicalIF":7.9,"publicationDate":"2025-01-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143445834","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Impacts of international sanctions on sender countries’ innovation

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-27 DOI: 10.1016/j.eap.2025.01.026

Siqin Wang , Jun Wen , Xinxin Zhao , Xiaozhou Zhou

引用次数: 0

Does public data openness accelerate new quality productive forces? Evidence from China

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-25 DOI: 10.1016/j.eap.2025.01.025

Yuan Zhong , Huisu Lai , Liang Zhang , Lixiang Guo , Xiaobing Lai

引用次数: 0

Unleashing the empowered effect of data resource on inclusive green growth: Based on double machine learning

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-22 DOI: 10.1016/j.eap.2025.01.018

Zhehao Huang , Hao Dong , Zhaofei Liu , Khaldoon Albitar

引用次数: 0

Entrepreneurial miracles in the low-carbon transition: Causal inference from China's low carbon city pilot

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-19 DOI: 10.1016/j.eap.2025.01.022

Zihan Yan , Lewei Liao

{"title":"Entrepreneurial miracles in the low-carbon transition: Causal inference from China's low carbon city pilot","authors":"Zihan Yan , Lewei Liao","doi":"10.1016/j.eap.2025.01.022","DOIUrl":"10.1016/j.eap.2025.01.022","url":null,"abstract":"<div><div>The low-carbon transition entails a systemic transition involving resource allocation, investment strategies, and technological advancements. This green transformation may, on one hand, phase out high-emission enterprises, disrupting the original industrial structure, while on the other hand, it can foster cleaner production techniques, encouraging entrepreneurs to enter sustainable sectors and driving industrial upgrading. This study investigates the impact of such a transition on entrepreneurial activities, using China's Low Carbon City Pilot (LCCP) policy as a case study and analyzing city-level data on new startups from 2003 to 2019. The results indicate that LCCP significantly stimulates entrepreneurial activity in regulated cities, with entrepreneurial creation outweighing entrepreneurial loss. Notably, the effects of LCCP vary geographically: significant growth in entrepreneurial activity is observed in the southern, central, and eastern regions, while the northern and northeastern regions show no significant improvement and may even experience negative effects. Furthermore, LCCP's impact on entrepreneurial activity is more pronounced in cities with economic prosperity, concentrated human capital, high levels of openness to foreign investment, and a non-resource-based economy. The study also finds that LCCP catalyzes entrepreneurial activity by driving green financial development and green technological innovation. Finally, government interventions such as supporting green industries, strengthening regulatory measures, prioritizing innovation activities, and protecting intellectual property demonstrate a positive moderating effect. This study contributes new empirical insights into the effect of institutional factors on entrepreneurial activities, offering valuable implications for the design of environmental policies amid the global shift toward a low-carbon future.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1374-1390"},"PeriodicalIF":7.9,"publicationDate":"2025-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132302","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

City size distribution and utility of living: Exploring intercity migration in Japanese urban systems

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-01-19 DOI: 10.1016/j.eap.2025.01.021

Masanobu Kii , Chun-Chen Chou , Tatsuhito Kono , Toshimori Otazawa

{"title":"City size distribution and utility of living: Exploring intercity migration in Japanese urban systems","authors":"Masanobu Kii , Chun-Chen Chou , Tatsuhito Kono , Toshimori Otazawa","doi":"10.1016/j.eap.2025.01.021","DOIUrl":"10.1016/j.eap.2025.01.021","url":null,"abstract":"<div><div>City size has both positive and negative impacts on residents’ living utilities, owing to agglomeration and congestion effects. This study aimed to estimate residential welfare, considering migration, agglomeration, and congestion effects across 221 urban areas in Japan in the 2010s. Our findings showed the following: 1) migration from small cities to large cities worsened congestion in large cities and diminished agglomeration effects in small cities, leading to an overall decrease in residential welfare; 2) the reduction in agglomeration effects in small cities outweighed the negative effect of increased congestion in large cities, leading to a widening disparity in utility between large and small cities and potentially encouraging further migration to large cities; and 3) migration increased the income of landowners in large cities but decreased the utility of residents in both large and small cities. Findings 1) and 2) are novel insights identified through empirical analysis targeting Japanese cities. This is partly attributed to the relatively fewer land use regulations in Japanese cities compared with large cities in Europe and the United States, which have been the subjects of previous empirical studies. On the basis of these findings, the study discusses the legitimacy of policy interventions in peripheral developments from the perspective of improving residential welfare, for example, enhancing the attractiveness of industrial locations through infrastructure investments. These insights offer new perspectives for regional policy analysis.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1238-1257"},"PeriodicalIF":7.9,"publicationDate":"2025-01-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143132206","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0