Economic Analysis and Policy最新文献

{"title":"Does administrative division adjustment reduce air pollution? Evidence from city-county mergers in China","authors":"","doi":"10.1016/j.eap.2024.09.031","DOIUrl":"10.1016/j.eap.2024.09.031","url":null,"abstract":"<div><div>Administrative division adjustment plays a crucial role in transforming the spatial layout of cities and effectively contributes to green transformation and high-quality regional economic development. We empirically investigate the impact of administrative division adjustment, exemplified by city-county mergers (CCM), on air pollution using the difference-in-differences method. Our results demonstrate that CCM significantly reduces air pollution, which passes a series of robustness tests including heterogeneous treatment effect tests. Mechanism analysis reveals that CCM reduces air pollution by optimizing industrial structure, promoting market allocation, and constraining government size; geo-climatic conditions significantly moderate the haze reduction effect of CCM. Further analyses indicate that the haze reduction effect of CCM is more pronounced in the eastern and western regions, the southeast regions of the Hu Line, and non-resource-based regions. Moreover, CCM not only alleviates air pollution in border areas and mitigates the pollution boundary effect but also yields the social welfare effect. This paper provides valuable insights for maximizing the haze reduction potential of administrative division adjustment, understanding the role of Chinese-style decentralization in regional air pollution management, especially in border areas, and supporting the achievement of carbon emission reduction and sustainable development goals.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421469","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}

{"title":"Digital economy, aging of the labor force, and employment transformation of migrant workers: Evidence from China","authors":"","doi":"10.1016/j.eap.2024.09.032","DOIUrl":"10.1016/j.eap.2024.09.032","url":null,"abstract":"<div><div>Migrant workers are the key group of employment work. Promoting the employment transformation of migrant workers under the background of the booming digital economy and the deepening aging degree is related to the overall stability of employment, but also to rural revitalization and common prosperity. This paper uses five waves of data from the China Family Panel Studies (CFPS) from 2012 to 2020 to explore the impact of the aging of the labor force on the employment transformation of migrant workers using multiple Logit regression models, and systematically and deeply explores the role of the digital economy in this process and its mechanism. The main findings of this study are as follows: firstly, the aging of the labor force significantly inhibits the employment transformation of migrant workers, which is mainly reflected in the inhibition of their transformation from traditional industries to new economy industries. Secondly, the digital economy significantly promotes the employment transformation of migrant workers and effectively alleviates the inhibitory effect of the aging of the labor force on the employment transformation of migrant workers. And it mainly plays its role by promoting the industrial structure upgrading, and the social capital and human capital accumulation of migrant workers. Thirdly, the mitigation effect of the digital economy is more effective among high-skilled migrant workers, young and middle-aged migrant workers, rural migrant workers, as well as migrant workers in eastern cities, large-sized cities, and cities with high digital development levels. Based on the above research conclusions, this article proposes relevant policy recommendations for actively responding to the aging of the labor force and fully leveraging the mitigating effects of the digital economy.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421465","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}

{"title":"Does environmental protection tax impact corporate ESG greenwashing? A quasi-natural experiment in China","authors":"","doi":"10.1016/j.eap.2024.09.029","DOIUrl":"10.1016/j.eap.2024.09.029","url":null,"abstract":"<div><div>The recently implemented environmental protection tax (EPT) policy in China provides the opportunity to conduct a quasi-natural experiment to empirically evaluate environmental regulations’ impact on corporate practices. We adopt the difference-in-differences method to analyze the effect and mechanisms of the EPT on corporate environmental, social, and governance (ESG) greenwashing based on Chinese A-share listed companies from 2015 to 2021. The empirical results show that the EPT drives companies to engage in ESG greenwashing, significantly increasing ESG greenwashing by approximately 13.16 %. The mechanism tests demonstrate that the EPT exerts governance pressure but does not create more resources, making companies more likely to achieve compliance through greenwashing. Furthermore, the effect of the EPT on ESG greenwashing is more pronounced for large companies and those located in regions with high economic development and strong regulatory enforcement. Our study provides solid evidence with valuable implications for improving the EPT policy to achieve green and sustainable development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421472","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}

{"title":"Digital transformation and corporate green total factor productivity: Based on double/debiased machine learning robustness estimation","authors":"","doi":"10.1016/j.eap.2024.09.023","DOIUrl":"10.1016/j.eap.2024.09.023","url":null,"abstract":"<div><div>With the rapid development of the digital economy, China's digital technology and industry continue to integrate deeply into all areas of society. Digital transformation(DT) has become an important engine and key pedestal for economic and social transformations and upgrades. This paper takes 3525 listed companies from 2013 to 2021 as a sample to measure the green total factor productivity(GTFP) of listed enterprises based on the super-efficiency slacks-based measure with the Global Malmquist-Luenberger Index (SBM-GML) and the super-efficiency epsilon-based measure with the Global Malmquist-Luenberger Index (EBM-GML). It draws on the two existing DT indicators to explore the impact and mechanism of enterprise DT on GTFP. The results show that DT can significantly enhance GTFP, and this conclusion still holds after double/debiased machine learning and other robustness tests; the heterogeneity analysis shows that DT of high-tech enterprises, manufacturing industries and low-financialisation enterprises has a more obvious effect on the enhancement of GTFP; and the four-stage mediated impact mechanism suggests that the effect of DT on GTFP can be achieved by improving internal control ability and technological innovation ability. This paper will provide relevant policy insights on how to better drive enterprise DT and green low-carbon development under the “dual-carbon” goal.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421473","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}

{"title":"Economic and supply chain impacts from energy price shocks in Southeast Asia","authors":"","doi":"10.1016/j.eap.2024.09.025","DOIUrl":"10.1016/j.eap.2024.09.025","url":null,"abstract":"<div><div>Following the war in Ukraine, it became evident that substantial energy price increases had complex impacts on the economic systems and supply chains throughout the Southeast Asian region. In this article, we employ a global applied general equilibrium model (GTAP-E-PowerS) to examine how ongoing energy price increases might affect sectors, economies and emissions levels of the region. We additionally investigate how technological development including energy efficiency gains, utilisation of capital and how output augmenting technologies may help mitigate costs. Our findings indicate demand for renewable energy by private and industrial sectors increase substantially as a substitute for traditional fossil fuels, but are not adequate to compensate for losses. Agriculture and food sectors are not significantly affected, suggesting less hazards to food security as they are not energy-intensive. Manufacturing, transport and electricity generation sectors, which are energy-intensive, are materially adversely affected. More interestingly, however, is the primary energy supply sectors, viz. oil and gas extraction, and petroleum product manufacturing sectors, whose output declines by 20–70 % across countries. Real GDP also declines substantially, by 1.0–3.8 % in the Philippines, Singapore, Vietnam, Indonesia, Malaysia and Thailand. Conversely, total emissions decline by 6–22 % across countries. Of the options considered, investment in improving utilisation of capital resources is found to be the most effective against energy price shocks.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421470","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}

{"title":"Can China's low-carbon city pilot policy facilitate carbon neutrality? Evidence from a machine learning approach","authors":"","doi":"10.1016/j.eap.2024.09.028","DOIUrl":"10.1016/j.eap.2024.09.028","url":null,"abstract":"<div><div>This study examines China's 2060 carbon neutrality goal using the Double/Debiased Machine Learning (DML) model to analyze the causal effects of the low-carbon city pilot (LCCP) policy on urban carbon neutrality in 277 Chinese cities from 2008 to 2017. A series of empirical studies and robustness tests show that the LCCP policy has promoted carbon neutrality in Chinese cities. Through causal mediation analysis, this study identifies potential mechanisms, including increasing green credit, stimulating green innovation, optimizing industrial structures, and strengthening environmental governance. The LCCP policy has a varied impact on cities, depending on their resource endowments, geographical locations, and sizes. Furthermore, this study develops a green development index to assess the causal impact of the LCCP policy on green development, suggesting that it does not hinder the city's economic growth but rather enhances its quality and sustainability. This study provides empirical evidence for regional environmental governance and improvement strategies and offers valuable insights into China's transition from prioritizing rapid economic growth to achieving high-quality development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421471","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}

{"title":"Supply chain digitalization and firms' green innovation: Evidence from a pilot program","authors":"","doi":"10.1016/j.eap.2024.09.024","DOIUrl":"10.1016/j.eap.2024.09.024","url":null,"abstract":"<div><div>Green innovation is essential for realizing environmental sustainability and achieving long-term ecological balance. This paper investigates the influence of supply chain digitalization on firms' green innovation in the manufacturing industry. China's 2018 Supply Chain Innovation and Application Pilot program as a quasi-natural experiment, we employ a difference-in-differences (DID) estimation approach to reach the following findings: (1) supply chain digitalization significantly enhances the quantity and quality of enterprise green innovation, with a more substantial impact on quality. (2) supply chain financing capacity and firm environmental awareness play a partial mediating role in the relationship supply chain digitalization and the quality and quantity of corporate green innovation. (3) the heterogeneity analysis reveals that the impact of supply chain digitalization on green innovation is notably heightened in firms with managers who have overseas experience, weak internal controls, and poor regional supply chain environments. This study enriches the theoretical understanding of enterprise green innovation from the perspective of supply chain digitalization, providing a theoretical basis and practical insights for green innovation practices in enterprises.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142421444","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}

{"title":"Competition policy and enterprise competitiveness: Catalyst or barrier?","authors":"","doi":"10.1016/j.eap.2024.09.022","DOIUrl":"10.1016/j.eap.2024.09.022","url":null,"abstract":"<div><div>As a seminal institutional innovation within the framework of Chinese-style modern competition theory, the question of whether the Fair Competition Review System (FCRS) can harness policy dividends and bolster enterprise competitiveness stands as a pivotal concern for accelerating the emergence of new productive forces and fostering a harmonious integration of an \"effective government + efficient market.\" Leveraging data from China's listed manufacturing enterprises spanning the period from 2010 to 2020, this paper undertakes an empirical examination of the impact of competition policy frameworks on the competitiveness of manufacturing enterprises. The FCRS is treated as a quasi-natural experiment, and a difference-in-differences (DID) methodology is employed for analysis.</div><div>The findings of this paper are as follows: (1) The implementation of the FCRS has been found to effectively augment the competitiveness of manufacturing enterprises by approximately 1.97 %, and this fundamental conclusion retains its validity after a battery of robustness tests; (2) The FCRS primarily influences enterprise competitiveness by lowering financing costs, enhancing technological innovation, and mitigating over-investment; (3) Heterogeneity analysis reveals that non-high-tech enterprises and those with lower financing constraints can attain more pronounced effects in promoting enterprise competitiveness through competition policies. Additionally, enterprise size and operational risks also exert an influence on the efficacy of competition policies in enhancing competitiveness; (4) Expanded analysis indicates that competition policies optimize the capital structure of enterprises through \"debt reduction\" and \"capacity enhancement,\" thereby exploring the viability of analyzing the macro factors that impact enterprise \"deleveraging\" from the lens of competition policies. The research conclusions presented in this paper carry substantial guiding significance for the government in clarifying the preeminent role of market allocation of resources, promoting the establishment of a unified national market, and orchestrating a coherent fair competition system.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142326459","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}

{"title":"Government spending efficiency, fiscal decentralization and regional innovation capability: Evidence from China","authors":"","doi":"10.1016/j.eap.2024.08.033","DOIUrl":"10.1016/j.eap.2024.08.033","url":null,"abstract":"<div><div>Improving regional innovation is the key to achieving high-quality development, and regional innovation requires government support. However, a notable research gap exists in studies examining the relationship between government spending efficiency and regional innovation. Based on the panel data of 30 provinces in China from 2000 to 2021, this study verifies the positive impact of government spending efficiency on regional innovation capacity and its mechanism. Notably, the Consumer Price Index has been selected as an instrumental variable through a rigorous theoretical analysis to address the potential endogeneity and ensure the robustness of the findings. The findings also suggest that government spending efficiency can do better in promoting regional innovation capability in higher-investment preference areas, less financial development level regions. Further analysis reveals that human capital and advanced industrial structure play a great channel effect, while fiscal decentralization positively moderates the relationship between government spending efficiency and regional innovation capability. This study deepens our understanding of the impact of fiscal policy on local innovation development from different perspectives. Furthermore, it provides a reference to developing countries on the importance of local government in optimizing regional innovation.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142310414","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}

{"title":"Farmers' decision-making regarding land under economic incentives: Evidence from rural China","authors":"","doi":"10.1016/j.eap.2024.09.019","DOIUrl":"10.1016/j.eap.2024.09.019","url":null,"abstract":"<div><div>To achieve complete urbanization in developing countries, it is essential for many farmers to leave rural areas and withdraw from farmland as they enter urban employment. The Chinese government offers economic incentives to encourage households to relinquish their land rights. Based on a survey data in rural China, this paper examines the impact of land transfers and urban housing on the withdrawal of contractual rights of farm households. Econometric analyses reveal that rural households with urban housing are 6.4 % less likely to choose to withdraw from land, whereas those involved in land transfers are 3.8 % more likely to do so. The study's findings suggest that a uniform policy, like nationwide land withdrawal reforms accompanied by economic compensation, might lead to outcomes where the poor lose land and the rich retain theirs.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0313592624002443/pdfft?md5=5efad9caf1d9e4284848422f0e680a20&pid=1-s2.0-S0313592624002443-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142310416","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}