Economic Analysis and Policy最新文献_第3页

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

Could U.S.-China conflicts intensify climate transition risks? 中美冲突是否会加剧气候转型风险？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-08 DOI: 10.1016/j.eap.2025.05.016

Shuangshuang Chang , Meng Qin , Hsin-Pei Hsueh , Oana-Ramona Lobont

{"title":"Could U.S.-China conflicts intensify climate transition risks?","authors":"Shuangshuang Chang , Meng Qin , Hsin-Pei Hsueh , Oana-Ramona Lobont","doi":"10.1016/j.eap.2025.05.016","DOIUrl":"10.1016/j.eap.2025.05.016","url":null,"abstract":"<div><div>This study examines the interaction between U.S.-China tensions (UCT) and climate transition risks (TRI) through integrated full-sample and sub-sample analyses. Our methodological approach systematically investigates the complex relationship between UCT and TRI to determine whether U.S.-China conflicts exacerbate climate transition risks. Our findings reveal that UCT exerts positive and negative effects on TRI. The positive one suggests increased tensions between the U.S. and China worsen transition risks by impairing cooperation, disrupting supply chains, and diverting decarbonisation resources. However, the negative one refutes this view, highlighting that renewable energy market dynamics and technological advances could offset these effects. Additionally, enhanced climate cooperation through policy measures and investments may increase transition risks through accelerating transition pressures. Conversely, TRI also positively and negatively affect UCT, since climate disputes may intensify conflicts, whereas clean energy interdependence and local collaborations could reduce tensions. Against the potential climate crisis, this paper proposes four measures to address U.S.-China conflicts and climate transition risks, including sub-national clean energy cooperation, resilient supply chains, aligned decarbonisation policies, and climate crisis communication channels.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1592-1604"},"PeriodicalIF":7.9,"publicationDate":"2025-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143935861","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 green finance reform on firms' patent quality: An empirical study from Chinese listed manufacturing firms

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-08 DOI: 10.1016/j.eap.2025.05.015

Ge Zhang , Bingnan Guo

引用次数: 0

From policy to participation: Exploring the influence of property rights on rural revitalization efforts 从政策到参与：探讨产权对乡村振兴的影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-07 DOI: 10.1016/j.eap.2025.05.012

Zhihua Xu , Duolan Fan , Ji Chen , Shuqin Li

{"title":"From policy to participation: Exploring the influence of property rights on rural revitalization efforts","authors":"Zhihua Xu , Duolan Fan , Ji Chen , Shuqin Li","doi":"10.1016/j.eap.2025.05.012","DOIUrl":"10.1016/j.eap.2025.05.012","url":null,"abstract":"<div><div>Rural property rights transactions serve as a critical driver of rural revitalization in China. This study investigates the impact of property rights policies on farmers’ participation in rural revitalization through ecological-cultural tourism development. Survey data from 1271 rural residents across 16 cities in Yunnan Province is analysed using an ordered logit model to assess policy effects on participation behavior. The results show that: (1) With the increase of the bid value, the willingness to participate tends to decline. (2) Property rights policies significantly enhance participation, with individualized property rights demonstrating stronger incentive effects compared to collective rights. Additionally, with the increase of the duration of property rights, the incentive effects of individual rights decrease and that of collective rights increase. (3) Property rights policies have a stronger effect on the Han group, high-income individuals, and highly educated individuals than on other groups. This study informs the design of property rights policies and sustainable mechanisms to promote farmer participation in rural revitalization, ultimately reducing rural income disparities.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1660-1674"},"PeriodicalIF":7.9,"publicationDate":"2025-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143935858","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

Resilience of energy market under geopolitical risks: What’s the policy implications? 地缘政治风险下能源市场的弹性：政策含义是什么？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-07 DOI: 10.1016/j.eap.2025.05.014

Jie Cao , Yingxin Zhu , Zhujia Yin , Jing Li , Chun-Ping Chang

引用次数: 0

Do the E-commerce-induced business clusters increase the income of local rural households? 电子商务引发的商业集群是否增加了当地农村家庭的收入？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-07 DOI: 10.1016/j.eap.2025.04.024

Li Qiuyun , Mingjia Xie , Yuehuan Tang

{"title":"Do the E-commerce-induced business clusters increase the income of local rural households?","authors":"Li Qiuyun , Mingjia Xie , Yuehuan Tang","doi":"10.1016/j.eap.2025.04.024","DOIUrl":"10.1016/j.eap.2025.04.024","url":null,"abstract":"<div><div>In recent years, rural E-commerce clusters, represented by Taobao Villages, have emerged rapidly in China, becoming a significant force influencing regional economic development. To explore the impact of the formation of Taobao Villages on the household income of local residents, this paper employs a Difference-in-Differences (DID) approach and conducts an analysis based on data from the China Family Panel Studies (CFPS) from 2010 to 2020. The empirical findings show that: Firstly, on average, the formation of Taobao Villages negatively impacts local household income, resulting in a 5.3% decrease. Secondly, the formation of Taobao Villages boost local business income but reduce migrant workers’ wage income by drawing them back from higher-paying jobs. Collectively, the opportunity cost of forgone wages outweighs the increase in business income. Finally, heterogeneity analysis reveals that this impact is uneven across different groups, with the formation of Taobao Villages exacerbating income inequality among rural households in China. These findings suggest that policymakers should adopt a cautious approach to promoting E-commerce-induced business clusters, prioritizing equity safeguards to mitigate risks of declining labor income and unequal benefits among the population.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1510-1526"},"PeriodicalIF":7.9,"publicationDate":"2025-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143931382","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

Exchange rate volatility and supply chain disruption 汇率波动和供应链中断

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-07 DOI: 10.1016/j.eap.2025.05.011

Chang Li , Yuhui Shao , Tianzhu Wang , Shengdi Zhou

引用次数: 0

How does economic growth targets influence vegetation dynamics? Evidence from China 经济增长目标如何影响植被动态？来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-06 DOI: 10.1016/j.eap.2025.05.010

Siqi Yan, Jian Wang, Qun Wu

{"title":"How does economic growth targets influence vegetation dynamics? Evidence from China","authors":"Siqi Yan, Jian Wang, Qun Wu","doi":"10.1016/j.eap.2025.05.010","DOIUrl":"10.1016/j.eap.2025.05.010","url":null,"abstract":"<div><div>Setting economic growth targets (EGTs) is an essential tool for governments worldwide to implement macroeconomic management, and its significant environmental impacts is commonly accepted. However, research on EGTs’ influence on vegetation dynamics remains limited. Using fixed effects modeling and instrumental variable techniques, this study analyzes EGTs’ impact on vegetation conditions and underlying mechanisms in 286 Chinese cities (2011–2022). Fiscal pressure-dependent nonlinearities in the effect of EGTs on vegetation status is examined through panel threshold modeling. Results show that EGTs negatively affects vegetation status. EGTs’ adverse impact upon vegetation conditions is stronger in resource-based or secondary industry-led cities. Mechanism analysis reveals that EGTs unfavorably influences vegetation status through fostering urban expansion and driving local governments to lessen intensity of environmental regulation. Threshold effect analysis indicates that as local fiscal pressure increases, disadvantageous impact of EGTs on vegetation conditions tends to be more intense. This study provides important theoretical insights into institutional determinants of vegetation dynamics, and has significant policy implications for optimizing management of EGTs and promoting vegetation conservation.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1476-1491"},"PeriodicalIF":7.9,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143927722","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 community banks’ innovation on regulatory choices 社区银行创新对监管选择的影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-05-06 DOI: 10.1016/j.eap.2025.05.008

Chenzi Yang , Deng-Kui Si , Fernando Moreira , Thomas Welsh Archibald

{"title":"The impact of community banks’ innovation on regulatory choices","authors":"Chenzi Yang , Deng-Kui Si , Fernando Moreira , Thomas Welsh Archibald","doi":"10.1016/j.eap.2025.05.008","DOIUrl":"10.1016/j.eap.2025.05.008","url":null,"abstract":"<div><div>Launched in 2019, the Community Bank Leverage Ratio (CBLR) framework is a new regulation designed to reduce US community banks’ regulation burden. However, evidence has shown that only a minority of banks have voluntarily adopted this new regulation. Applying the Two-stage least squares-Instrumental variables method to analyze 4037 US community banks, we find out that the reduced likelihood of opting into the CBLR could be attributed to the insufficient bank innovation. Lack of innovation may reduce banks’ motivation to simplify reporting, reflect relatively few risky activities, and hold lower capital level, which prevents community banks from participating in this non-risk-based regulation framework. Moreover, compared to product innovation and process innovation, technological innovation has the most advanced impact on bank decision, and the influence is more pronounced in banks charted by federal authority. There also exists a bidirectional positive effect between the adoption of CBLR and bank innovation, where higher innovation level leads to higher CBLR adoption likelihood, and the CBLR adoption, in turn, accelerates the bank innovation and overall bank performance. Our findings remain robust across alternative variable measurements, estimation methods, model specifications, and various control variables.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1627-1644"},"PeriodicalIF":7.9,"publicationDate":"2025-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143935855","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