Economic Analysis and Policy最新文献

{"title":"Supply chain digitalization and firms' green innovation: Evidence from a pilot program","authors":"Suxia An ,&nbsp;Yu Gu ,&nbsp;Lu Pan ,&nbsp;Ying Yu","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":"84 ","pages":"Pages 828-846"},"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":"Hongping Yan,&nbsp;Peng Xu,&nbsp;Kaijun Xiong","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":"84 ","pages":"Pages 739-755"},"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":"Ran Zhao,&nbsp;Pinglin He","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":"84 ","pages":"Pages 693-706"},"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":"Zhang Guangcai ,&nbsp;Zhang Shihu ,&nbsp;Zhu Tingyu ,&nbsp;Gu Haiying","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":"84 ","pages":"Pages 725-738"},"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}

{"title":"Does transport infrastructure development inhibit firm-level employment fluctuations? Evidence from national expressway construction in China","authors":"Deyu Yuan,&nbsp;Junying Du,&nbsp;Jiaming Chang","doi":"10.1016/j.eap.2024.09.011","DOIUrl":"10.1016/j.eap.2024.09.011","url":null,"abstract":"<div><p>Employment Stabilization has always been a key focus of the Chinese government's work. Exploring the influencing factors of employment stability is of great significance for promoting the realization of high-quality employment. Based on the manually collected national expressway data and the China Industrial Enterprise Database from 1998 to 2015, this paper conducts an empirical study on the impact of transportation infrastructure development on enterprise employment fluctuations using the multi-timepoint difference-in-differences method. We find that the development of expressways has a significant inhibitory effect on enterprise employment fluctuations. Compared with areas where expressways have not been opened, the opening of expressways reduces local enterprise employment fluctuations by approximately 0.9 %. The development of expressways affects the demand side or supply side of the enterprise labor force through market scale effects, labor allocation effects, etc., thereby influencing enterprise employment fluctuations. The impact of expressway development on employment fluctuations of enterprises with different ownership natures, different economic regions, and different scales varies to some extent. Finally, this paper proposes relevant policy recommendations, providing practical and effective references for coordinating and promoting the goal of Employment Stabilization under the background of the strategy of building a strong transportation country.</p></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 610-627"},"PeriodicalIF":7.9,"publicationDate":"2024-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142241616","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":"Climate clubs and firm environmental performance: A regional institutional perspective","authors":"Javier Barbero ,&nbsp;Ernesto Rodríguez-Crespo ,&nbsp;Marta Suárez-Varela ,&nbsp;Pilar Velasco","doi":"10.1016/j.eap.2024.09.020","DOIUrl":"10.1016/j.eap.2024.09.020","url":null,"abstract":"<div><p>This research focuses on informal club-based institutions to boost a firm's engagement in environmental practices. Specifically, we investigate the effect of a firm's climate club membership on its corporate environmental performance. Our empirical analyses rely on a sample of firms from 142 Western European regions during 2011-2019. Results show that stronger climate club engagement of firms within a same region of a focal firm may act as an informal institution, improving the latter's environmental performance. We also find that the impact of those informal club-based institutions outsizes the effect exerted by the quality of formal regional institutions, and that strong informal climate club-based institutions might be able to partly replace the role of regional formal institutions in that ESG domain. Finally, we delve into several mechanisms potentially driving the observed impacts of regional formal and informal institutions on firms’ environmental performance.</p></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 663-678"},"PeriodicalIF":7.9,"publicationDate":"2024-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S031359262400242X/pdfft?md5=28084ab033ff9bfedd8be7f32e5edaa2&pid=1-s2.0-S031359262400242X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142241620","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":"Urban environmental regulation, firms’ emission reduction strategies and labor demand: Evidence from China","authors":"Hui Xu,&nbsp;Xin Liu","doi":"10.1016/j.eap.2024.09.018","DOIUrl":"10.1016/j.eap.2024.09.018","url":null,"abstract":"<div><p>Air pollution affects people's livelihoods, and China's environmental governance is a defensive battle that must be fought. Combining several comprehensive datasets, this study uncovers the underlying mechanisms of urban environmental regulation that affect labor demand from the perspective of firms’ choice of emission reduction strategies. Utilizing a difference-in-differences method, this study finds that on average, the Key City Demarcation Scheme for Air Pollution Prevention and Control (KCDS) has a drive-out effect on employment while improving urban environmental quality, making it difficult to achieve the double-dividend of de-pollution and employment promotion. These conclusions still hold after considering various specification checks, including the instrumental variable method. Underlying mechanisms indicate that manufacturing firms strengthen both front-end productive “changes-in-process” and non-productive “end-of-pipe” treatment to respond to stricter urban environmental enforcement, and ultimately, KCDS has triggered a drive-out effect on employment. Heterogeneous effects investigate that firms’ emission reduction strategies have path dependence and that the drive-out effect on employment is particularly pronounced for large-scale, technology- and capital-intensive domestic firms in large cities. This study provides policy insights for the smooth realization of the urban green transformation while safeguarding the livelihood of society.</p></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 589-609"},"PeriodicalIF":7.9,"publicationDate":"2024-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142241615","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 land expropriation to neighbors affect the enrollment of bystanders in pension programs?","authors":"Hantao Hao,&nbsp;Linyi Zheng","doi":"10.1016/j.eap.2024.09.021","DOIUrl":"10.1016/j.eap.2024.09.021","url":null,"abstract":"<div><p>Land expropriation can incur not only economic costs but also political costs. Using panel data from the China Family Panel Studies (CFPS), we investigate the impact of land expropriation on the compliance behaviors of rural residents for the New Rural Pension Scheme (NRPS), which is an extremely important public policy led by the government in China. To exclude the potential confounding impacts of reduced social security levels resulting from land expropriation, we focus on farmers in the same village who have not suffered land expropriation. The results of the difference-in-differences (DID) regression model suggest that land expropriation significantly reduces the probability of farmers within the same village, who have not suffered land expropriation, enrolling in the NRPS. The primary reasons are that land expropriation significantly decreases the trust of non-land expropriated farmers in local officials and the NRPS. Additionally, land expropriation has a stronger impact on unexpropriated farmers with lower levels of education, as well as unexpropriated households without Communist Party of China membership or with a high level of dependence on agriculture. Our findings suggest the cost of land expropriation is larger than previously thought, as it generates broader political trust and policy compliance issues.</p></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 576-588"},"PeriodicalIF":7.9,"publicationDate":"2024-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142242432","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":"Navigating post-Covid-19 economic recovery in WAEMU: A DSGE approach","authors":"Abdoulaye Aboubacari Mohamed ,&nbsp;Jevuks Matheus de Araujo ,&nbsp;Alejandro C. García Cintado","doi":"10.1016/j.eap.2024.08.031","DOIUrl":"10.1016/j.eap.2024.08.031","url":null,"abstract":"<div><div>This paper evaluates the effectiveness of economic policies implemented by fiscal and monetary authorities against the Covid-19 pandemic in the West African Economic and Monetary Union (WAEMU). To that end, we employ a medium-scale DSGE model that regards WAEMU as a closed system, made up of a continuum of small open economies. Our simulations reveal that, while an ample battery of fiscal and monetary measures was deployed to counter the challenges posed by Covid-19 and support economic recovery, fiscal policy interventions proved more effective in the short run. Fiscal measures mitigated the pandemic’s economic fallout across all households, providing immediate relief and promoting a swift rebound.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 707-724"},"PeriodicalIF":7.9,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S0313592624002200/pdfft?md5=3208f3057ec23eeecb5cfeb7a757ee0f&pid=1-s2.0-S0313592624002200-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142251161","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":"Vietnam's exports to Korea and the real exchange rate: Post-crisis evidence from the multiple threshold nonlinear autoregressive distributed lag model","authors":"Min-Joon Kim","doi":"10.1016/j.eap.2024.09.017","DOIUrl":"10.1016/j.eap.2024.09.017","url":null,"abstract":"<div><div>In this study, the asymmetric effects of the real exchange rate on Vietnam's exports to Korea were investigated using the multiple threshold nonlinear autoregressive distributed lag (MTNARDL) model. As a result, the MTNARDL model exhibited enhanced estimation accuracy compared to the single-threshold nonlinear autoregressive distributed lag (NARDL) model. Furthermore, the aggregate bias problem was solved using individual export data for 16 major industries instead of relying on the overall export value data. The results revealed the substantial asymmetric impact of real exchange rate fluctuations in the short and long run. Fluctuations in the real exchange rate boosted Vietnam's exports to the Republic of Korea in the long run, with minimal negative influence. This indicates that the depreciation of the Vietnamese dong against the United States (US) dollar encouraged exports in some industries but limited exports in others. However, the short-term effect of the real exchange rate remains uncertain, as it could be either negative or positive depending on the industry and threshold level. The diverse impacts of the real exchange rate fluctuations on exports across industries were attributed to factors such as the capacity to absorb foreign exchange risks, product heterogeneity, and the ease of adjusting inputs and production for each sector. Therefore, these findings may help policymakers develop Vietnam-specific policies to address long- and short-term changes in the threshold levels of real exchange rate fluctuations.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"84 ","pages":"Pages 679-692"},"PeriodicalIF":7.9,"publicationDate":"2024-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142251163","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}