Economic Analysis and Policy最新文献_第5页

High-quality exporting in the digital economy 数字经济下的高质量出口

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-23 DOI: 10.1016/j.eap.2025.04.029

Zeyang Bian, Miao Xia, Yaqian Zhang

{"title":"High-quality exporting in the digital economy","authors":"Zeyang Bian, Miao Xia, Yaqian Zhang","doi":"10.1016/j.eap.2025.04.029","DOIUrl":"10.1016/j.eap.2025.04.029","url":null,"abstract":"<div><div>In the age of new sci-tech revolution, digitalization has played a major role in promoting corporate international competitiveness. This study aims to evaluate the effect of digital economy on domestic value added ratio (DVAR) for exporting enterprises by investigating China’s manufacturing firms in 2011 to 2015. Results show that the development of digital economy significantly promotes enterprises’ DVARs under a series of robustness checks. Furthermore, there exist heterogeneous effects with the eastern coastal region, non-state-owned enterprises, and capital-intensive enterprises showing strongly positive effects. In order to unveil the possible channel, we explore three aspects: the intensive margin, the extensive margin—where the former points to innovation of existing exporters and the latter points to new exporting participants with high DVARs—and the product quality. It suggests that both intensive and extensive margins play a positive role, and the improvement of the quality of exported finished goods stays even stronger than that of imported intermediate goods due to the digital economy. All these effects jointly impel the enhancement of corporate DVAR.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1198-1213"},"PeriodicalIF":7.9,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143887159","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

Leveraging external debt: Stimulate innovation by infrastructure development in Belt and Road countries 撬动外债：以“一带一路”沿线国家基础设施建设带动创新

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-23 DOI: 10.1016/j.eap.2025.04.031

Yonghui Han , Jinghua Mai , Fan Zhang , Ruilin Luo

{"title":"Leveraging external debt: Stimulate innovation by infrastructure development in Belt and Road countries","authors":"Yonghui Han , Jinghua Mai , Fan Zhang , Ruilin Luo","doi":"10.1016/j.eap.2025.04.031","DOIUrl":"10.1016/j.eap.2025.04.031","url":null,"abstract":"<div><div>Debt caused by the growing infrastructure projects in the Belt and Road Initiative (BRI) countries is a highly debated issue. Grounded in a latecomers’ innovation catching-up perspective, this study examines the effect of infrastructure development on innovation outputs within BRI countries. Based on country-level data from 2010 to 2021, we find that infrastructure development significantly enhances innovation performance in BRI countries. Notably, the effect is attributed to countries’ external debt. Countries with higher debt management capability, national solvency and debt utilization efficiency, can amplify the beneficial influence of infrastructure development on innovation performance. Furthermore, external debt not only serves as an input of physical capital but also acts as a catalyst for innovation by promoting technology absorption and industrial development. While China’s sovereign lending to these countries effectively promotes innovation, debt pressure remains manageable. This paper contrasts with the held notion that infrastructure development constitutes the debt crisis. Our results shed new light on the efficacy of external debt, the external debt results in an expansion of innovation catching-up patterns of BRI countries rather than debt crisis.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1214-1243"},"PeriodicalIF":7.9,"publicationDate":"2025-04-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143887160","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 enterprise income tax on firm export: Evidence from income tax revenue sharing reform in China 企业所得税对企业出口的影响：来自中国所得税分税制改革的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-23 DOI: 10.1016/j.eap.2025.04.032

Su Yunqing , Lu Weijun

引用次数: 0

Artificial intelligence and corporate fraud: Evidence from China 人工智能与企业欺诈：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-22 DOI: 10.1016/j.eap.2025.04.030

Yun Xia , Linling Xie , Xiao Chen , Ziang Lin

引用次数: 0

The impact of big data tax administration on local fiscal revenue: New evidence from the "Golden Tax Project Phase III" 大数据税收征管对地方财政收入的影响——来自“金税工程三期”的新证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-22 DOI: 10.1016/j.eap.2025.04.023

Shuguang Wang , Hui Li , Ying Zhang

{"title":"The impact of big data tax administration on local fiscal revenue: New evidence from the \"Golden Tax Project Phase III\"","authors":"Shuguang Wang , Hui Li , Ying Zhang","doi":"10.1016/j.eap.2025.04.023","DOIUrl":"10.1016/j.eap.2025.04.023","url":null,"abstract":"<div><div>Adequate local fiscal revenue (LFR) is the foundation for governments to provide public services, maintain operations, and promote economic development. Big data tax administration (BDTA), by optimizing tax management, improving tax compliance, and combating tax evasion, has effectively driven the growth of LFR. Using the Golden Tax Project Phase Ⅲ (GTPP Ⅲ) as a quasi-natural experiment in BDTA, this paper examines the impact of BDTA on LFR, based on panel data from 290 cities between 2009 and 2015, employing a multi-period difference-in-differences (MP-DID) model. Furthermore, the study explores the mechanism effects of industrial output and information infrastructure. The main findings of this paper are as follows: First, the results show that BDTA significantly promotes the growth of LFR, and this conclusion remains robust after a series of robustness checks. Second, BDTA indirectly increases LFR by boosting industrial output and improving information infrastructure. Finally, heterogeneity analysis reveals that the impact of BDTA on LFR is more pronounced in cities with low fiscal transparency, low levels of information infrastructure, and in general cities, indicating that the policy has stronger marginal effects in these areas. By analyzing the impact of the GTPP III on LFR, this paper highlights the role of BDTA in enhancing LFR, providing a basis for optimizing BDTA policies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1409-1426"},"PeriodicalIF":7.9,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143912635","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

Institutional investors and ESG performance: Evidence from China 机构投资者与ESG绩效：来自中国的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-22 DOI: 10.1016/j.eap.2025.04.028

Ping Zhang , Binbin Ma , Chuenyu Chi

{"title":"Institutional investors and ESG performance: Evidence from China","authors":"Ping Zhang , Binbin Ma , Chuenyu Chi","doi":"10.1016/j.eap.2025.04.028","DOIUrl":"10.1016/j.eap.2025.04.028","url":null,"abstract":"<div><div>ESG (environmental, social, and governance) has received the most attention from investors and businesses. As important market participants, institutional holdings affect corporate financial performance and play an important role in promoting ESG performance. In this paper, we investigate the effect of institutional investor ownership on corporate ESG performance using a sample of A-share listed companies in China from 2010 to 2022. Our findings show that institutional investor ownership will promote corporate ESG performance. Compared with non-independent and trading institutional investors, independent and stable institutional ownership have a significant positive correlation with corporate ESG performance. We use a quasi-natural experiment to identify the causal relationship. The results show that the increase in institutional ownership caused by the reconstitutions of the CSI 300 Index and the CSI 500 Index will improve corporate ESG performance. We also discuss possible mechanisms from three dimensions: corporate environmental performance, social responsibility performance, and corporate governance performance. Heterogeneity analysis shows that the positive relation is more pronounced in state-owned enterprises, large-scale enterprises, high-competitiveness enterprises, and heavily polluting enterprises. In addition, further analysis reveals that institutional investor ownership can effectively restrain firms’ “greenwashing” behavior and improve their ESG performance. Furthermore, the increased ESG performance reduces operational risks and increases the firm value. Our study offers a comprehensive perspective that bridges the gap between investment behavior and corporate sustainability.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1159-1181"},"PeriodicalIF":7.9,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143882242","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

Rethinking government behavior: Local government self-interest and economic development quality 政府行为反思：地方政府自身利益与经济发展质量

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-22 DOI: 10.1016/j.eap.2025.04.027

Sen Li, Guangying Li

{"title":"Rethinking government behavior: Local government self-interest and economic development quality","authors":"Sen Li, Guangying Li","doi":"10.1016/j.eap.2025.04.027","DOIUrl":"10.1016/j.eap.2025.04.027","url":null,"abstract":"<div><div>This paper aims to investigate the nexus between local government self-interest and the quality of economic development by embedding them within a unified analytical framework. It first constructs a theoretical model to decompose the multifaceted interests of local governments, followed by a theoretical analysis of their various manifestations. Using panel data from 31 regional units in China spanning 2005–2020, this study conducts a baseline regression with two-way fixed effects. After implementing robustness tests and mitigating endogeneity issues through appropriate econometric strategies, the core findings remain statistically consistent. The research establishes a causal relationship between local government self-interest and economic development quality, identifies the transmission channels of this impact, explores its heterogeneous effects, and examines the temporal persistence of local government self-interest on development quality. Key conclusions are as follows: First, local government self-interest impedes the enhancement of economic development quality, with fiscal revenue and expenditure mechanisms serving as critical transmission channels for this negative effect. Second, the impact exhibits heterogeneity: in more developed regions , the adverse influence is relatively attenuated in contexts characterized by higher marketization levels, greater fiscal decentralization, and more advanced population aging.Third, this adverse effect will persist for four years.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1645-1659"},"PeriodicalIF":7.9,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143935857","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

Digital inclusive finance and rural entrepreneurial survival: The moderating role of digital and financial literacy 数字普惠金融与农村创业生存：数字和金融素养的调节作用

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-22 DOI: 10.1016/j.eap.2025.04.025

Bin Li, Ya Pan

引用次数: 0

What affects national innovative capacity? The role of economic growth and trade openness 影响国家创新能力的因素是什么？经济增长和贸易开放的作用

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-21 DOI: 10.1016/j.eap.2025.04.022

Chien-Chiang Lee , Ya-Nan Zhao

{"title":"What affects national innovative capacity? The role of economic growth and trade openness","authors":"Chien-Chiang Lee , Ya-Nan Zhao","doi":"10.1016/j.eap.2025.04.022","DOIUrl":"10.1016/j.eap.2025.04.022","url":null,"abstract":"<div><div>National innovative capacity (NIC) plays a crucial role in promoting the economic development of countries. This study analyzes the influential factors and heterogeneity characteristics of NIC in 82 countries using data from 2000 to 2020. The analysis of influencing factors using a fixed-effects model revealed that the innovative infrastructure, the innovative environment, and the link between innovative infrastructure and the environment can significantly enhance the NIC. Heterogeneity analysis using the finite mixture model (FMM) finds that 82 countries can be grouped into three groups, and the NIC in different groups have different development paths. The factors influencing NIC have a positive effect in most countries, although a small number of countries’ innovation capacity is constrained by factors such as R&D expenditure. The dynamic analysis results show that NIC development in many countries has seen a positive path shift with economic development and increased openness. This study not only identifies the key factors affecting NIC, but also analyzes in depth how trade openness and economic growth affect NIC, as well as the heterogeneous characteristics of NIC among different groups of countries. The findings reveal the differences in the paths of NIC enhancement among countries at different levels of development, providing a theoretical basis for the formulation of targeted policies. In addition, this study provides a new perspective on the dynamic evolution of NIC, which can be further expanded to a wider sample of countries or combined with finer-grained industrial data in the future to optimize the policy design of NIC enhancement, so as to promote sustainable innovation and economic growth on a global scale.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1099-1118"},"PeriodicalIF":7.9,"publicationDate":"2025-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143877456","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 financial development shapes globalization's impact on income inequality in Asia? 金融发展如何塑造全球化对亚洲收入不平等的影响？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-18 DOI: 10.1016/j.eap.2025.04.021

Virender Kumar, Simran

{"title":"How financial development shapes globalization's impact on income inequality in Asia?","authors":"Virender Kumar, Simran","doi":"10.1016/j.eap.2025.04.021","DOIUrl":"10.1016/j.eap.2025.04.021","url":null,"abstract":"<div><div>Globalization in the form of increased trade, technological advancements, and capital flows has spurred economic growth and lifted millions out of poverty across Asia, but these advantages have not been equally distributed, leading to income inequality. While previous research has highlighted globalization’s role in income inequality, little attention has been given to the moderating role of financial development. As Asian economies become more integrated into the global system, understanding how financial development mediates effects of globalization on income disparity has become crucial for policymakers, researchers, and practitioners. This study empirically investigates how financial development shapes the impact of globalization (trade, technological, and financial) on income inequality in Asian countries. Using a fixed effect panel data model with data for 22 Asian countries, we show that while all three modes of globalization—trade, technological and financial—aggravate the income gap, the influence of these types of globalization on income inequality is reduced when financial development takes place. In particular, the study finds that if a country is financially developed, the net effect of all types of globalization on income inequality is negative, meaning that in a financially developed country, globalization may actually help reduce income inequality. In response to these findings, we suggest policy recommendations, including increasing access to banking services and promoting financial literacy for financial inclusion, prioritizing sectors with high job creation potential, and providing reskilling support for globalization.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1083-1098"},"PeriodicalIF":7.9,"publicationDate":"2025-04-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143874350","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