Economic Analysis and Policy最新文献_第8页

Effects of high-tech industrial agglomeration and innovation on regional economic development in China: Evidence from spatial-temporal analysis and Spatial Durbin Model 高技术产业集聚与创新对中国区域经济发展的影响：基于时空分析和空间Durbin模型的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-03 DOI: 10.1016/j.eap.2025.04.005

Donglan Huang , Guoteng Xu , Chengjiang Li , Shu Yang

{"title":"Effects of high-tech industrial agglomeration and innovation on regional economic development in China: Evidence from spatial-temporal analysis and Spatial Durbin Model","authors":"Donglan Huang , Guoteng Xu , Chengjiang Li , Shu Yang","doi":"10.1016/j.eap.2025.04.005","DOIUrl":"10.1016/j.eap.2025.04.005","url":null,"abstract":"<div><div>The high-tech industry is an essential driving force for global manufacturing and significantly impacts regional economic development in developing countries. This study examines the spatiotemporal patterns of high-tech industrial innovation and agglomeration based on the panel data of 30 provinces in China from 2012 to 2022. It also investigates their impacts on regional economic development by applying Dagum's Gini coefficient, location entropy, and the spatial Durbin model. The study mainly finds that: (1) The spatial distribution of innovation is uneven; (2) Agglomeration in some regions did not correspond to high levels of innovation; (3) Innovation harms neighboring regions' economies; (4) Agglomeration promotes local and neighboring economic development; (5) Significant regional heterogeneity in the impact of innovation and agglomeration on economic development. The study provides a framework for industry development in regional economic growth, aiding local government decision-making and offering insights for similar development strategies in other countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 692-712"},"PeriodicalIF":7.9,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143791969","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 power of credit: can the implementation of a social credit system reduce the risk of corporate debt default? 信用的力量：社会信用体系的实施能否降低企业债务违约的风险？

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-03 DOI: 10.1016/j.eap.2025.04.004

Xiaoke Zhao , Huirong Li , Shengtao Liu

{"title":"The power of credit: can the implementation of a social credit system reduce the risk of corporate debt default?","authors":"Xiaoke Zhao , Huirong Li , Shengtao Liu","doi":"10.1016/j.eap.2025.04.004","DOIUrl":"10.1016/j.eap.2025.04.004","url":null,"abstract":"<div><div>The increasing pressure exerted by the recent economic downturn and global trade conflicts has considerably increased the risk of debt defaults in the real economy. Understanding how to reduce this risk is fundamental to ensuring the healthy and stable functioning of an economy. In this study, we use 62 pilot cities selected in 2015, 2016, and 2021 for the implementation of a social credit system in China as a quasi-natural experiment and panel data from A-share firms listed on the Shanghai and Shenzhen stock exchanges from 2008 to 2023 to empirically explore the role of social credit in reducing the risk of firm debt default. The results indicate that the establishment of a social credit system considerably reduces firms’ debt default risk. Furthermore, the establishment of a social credit system helps to ease firms’ financing constraints, reduces agency costs and improve the quality of information disclosure, which reduces the risk of corporate debt default. The impact on reducing debt default risk is more pronounced for firms located in regions with a better legal environment and non-state-owned firms. These findings affirm the positive role of a regional credit system in reducing the risk of corporate debt default and preventing systemic financial failures. This study also provides insights for policymakers regarding how to leverage the power of credit to reduce the risk of corporate debt default and prevent systemic financial failures.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 749-763"},"PeriodicalIF":7.9,"publicationDate":"2025-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143799770","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 food safety regulation on the health of middle-aged and older adults: Evidence from Chinese food safety pilot cities 食品安全监管对中老年人群健康的影响——来自中国食品安全试点城市的证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-02 DOI: 10.1016/j.eap.2025.04.001

Chen Mingcong, Ma Qingshan, Sun Qiqi

{"title":"The impact of food safety regulation on the health of middle-aged and older adults: Evidence from Chinese food safety pilot cities","authors":"Chen Mingcong, Ma Qingshan, Sun Qiqi","doi":"10.1016/j.eap.2025.04.001","DOIUrl":"10.1016/j.eap.2025.04.001","url":null,"abstract":"<div><div>Food safety is crucial for the health of middle-aged and older population. This paper aims to assess the impact of Food Safety Model Cities (FSPCs), implemented in batches in China, on the health of middle-aged and older adults. The analysis uses data from the China Health and Retirement Longitudinal Study (CHARLS) 2011-2018, which employed a multi-stage sampling method. The study applies the staggered difference-in-differences (DID) method to comprehensively explore the effects of FSPCs on health outcomes. The findings reveal that, first, FSPCs significantly reduced the likelihood of chronic diseases among middle-aged and older adults, effectively improving their overall health. The effect varies based on factors such as age, place of residence, whether or not individuals live with children, and personal experiences of famine. Second, FSPCs enhanced the daily living skills, cognitive abilities, and self-reported health of middle-aged and older adults, although they had no significant impact on mental health. Third, FSPCs reduced health deprivation and mitigated health inequalities among the population. This paper offers policy implications for further improving the health of middle-aged and older adults through the development of FSPCs.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1182-1197"},"PeriodicalIF":7.9,"publicationDate":"2025-04-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143882367","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

Using Google search data to examine factory automation and its effect on employment 使用谷歌搜索数据检验工厂自动化及其对就业的影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-02 DOI: 10.1016/j.eap.2025.03.042

Céline Diebold

引用次数: 0

Does ISO 50001 adoption reduce manufacturing energy intensity? Micro-evidence from China ISO 50001的采用是否降低了制造业的能源强度？来自中国的微观证据

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-04-01 DOI: 10.1016/j.eap.2025.03.050

En-Ze Wang, Tong Pan

{"title":"Does ISO 50001 adoption reduce manufacturing energy intensity? Micro-evidence from China","authors":"En-Ze Wang, Tong Pan","doi":"10.1016/j.eap.2025.03.050","DOIUrl":"10.1016/j.eap.2025.03.050","url":null,"abstract":"<div><div>Numerous qualitative case studies suggest that ISO 50001 Energy Management System (ISOEnMS) effectively enhances organizational energy performance. However, empirical evidence is lacking to substantiate this claim and explore the potential mechanisms. This study addresses this gap by empirically examining the impact of ISO 50001 Energy Management System on energy intensity. We manually compiled information on all Chinese organizations that obtained ISOEnMS certification from 2011 to 2021 and matched this data with micro-level data from manufacturing firms spanning 2007 to 2016. Using a propensity score matching difference-in-differences approach, we analyzed the impact of ISOEnMS on energy intensity and explored potential mechanisms. Our findings reveal that firms with ISOEnMS certification experience a reduction in energy intensity of approximately 26 %. This reduction is primarily driven by increased investments in energy-efficient technologies, specifically through the acquisition of high-efficiency equipment, and increased external financing at lower costs. Additionally, the reduction in energy intensity is more pronounced in firms with higher management efficiency, those that purchase external energy services, non-state-owned enterprises, foreign-invested firms, firms with lower financing constraints, exporting firms, and firms that import coal. Finally, ISOEnMS does not appear to promote a shift towards cleaner energy sources, such as electricity. These findings underscore the effectiveness of ISOEnMS in reducing energy intensity while also highlighting its limitations in facilitating an energy transition.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 653-672"},"PeriodicalIF":7.9,"publicationDate":"2025-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143785686","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

Revisiting the impact of financial shocks on the fiscal position of euro area countries 重新审视金融冲击对欧元区国家财政状况的影响

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-03-28 DOI: 10.1016/j.eap.2025.03.048

Darja Zabavnik , Miroslav Verbič

{"title":"Revisiting the impact of financial shocks on the fiscal position of euro area countries","authors":"Darja Zabavnik , Miroslav Verbič","doi":"10.1016/j.eap.2025.03.048","DOIUrl":"10.1016/j.eap.2025.03.048","url":null,"abstract":"<div><div>This paper investigates the impact of financial distress on fiscal dynamics in the euro area. Within our analysis, special attention is given to the period during the Great Recession. This period can be characterised by significant stock market declines, increased systemic risks, and bank failures, which compelled governments to take decisive actions to stabilise the economy and prevent the collapse of the financial sector. Unlike previous crises, these actions went beyond relying on automatic stabilisers, necessitating significant discretionary and interventionist government measures. Using a sample of 20 euro area countries from 1995Q1 to 2019Q4, we employ a structural panel VAR approach to capture cross-country heterogeneity and distinct effects of common and idiosyncratic shocks. To the best of our knowledge, this is the first study to analyse the highly complex transmission of financial shocks using such a methodology. The results demonstrate diverse responses in government debt-to-GDP ratios and bond yields across countries, with significant contributions from idiosyncratic shocks. Factors such as country size, trade openness, GDP per capita, financial sector size, and debt-to-GDP levels in the pre-crisis era influence the heterogeneity of these responses. Our results indicate that structural reforms and strict fiscal discipline during economic expansions are essential for rapid recovery after financial shocks. Sustainable fiscal policy and mutual debt issuance can reduce cross-country disparities and idiosyncratic effects, stabilising fiscal dynamics in the euro area.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 622-635"},"PeriodicalIF":7.9,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143768107","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

Exploring the relationship between climate policy uncertainty perception and green technology innovation in Chinese enterprises 中国企业气候政策不确定性感知与绿色技术创新的关系研究

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-03-28 DOI: 10.1016/j.eap.2025.03.053

Siqi Li , Hao Fan , Zijin Wang , Qiuyun Zhao

{"title":"Exploring the relationship between climate policy uncertainty perception and green technology innovation in Chinese enterprises","authors":"Siqi Li , Hao Fan , Zijin Wang , Qiuyun Zhao","doi":"10.1016/j.eap.2025.03.053","DOIUrl":"10.1016/j.eap.2025.03.053","url":null,"abstract":"<div><div>Against the backdrop of frequent extreme climate events worldwide, countries have developed numerous climate-related policies to mitigate the impacts of these extreme conditions. How do enterprises’ perceptions of these climate policies shape their behaviors? To answer this question, this paper uses Chinese A-share listed companies from 2008 to 2022 as research samples to explore the impact of corporate perception of climate policy uncertainty on green technology innovation from a dual resource perspective. The study finds that corporate perception of climate policy uncertainty helps enhance their level of green technology innovation. Further mechanism analyses indicate that corporate perception of climate policy uncertainty can promote green technology innovation by enhancing internal resource agglomeration and reducing operation cycle. The degree of marketization and environmental regulation can enhance the promotion effect. Heterogeneity analyses reveal that the impact of climate policy uncertainty perception on green technology innovation is notably stronger in firms that are more exposed to risk shocks and more active in risk response. This research contributes to a deeper understanding of corporate behavior in response to climate change.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 880-892"},"PeriodicalIF":7.9,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143833657","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 transformation under the pressure of uncertainty in the banking sector 银行业在不确定性压力下的数字化转型

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-03-28 DOI: 10.1016/j.eap.2025.03.039

Japan Huynh

引用次数: 0

Unveiling the impact of green energy on green productivity: A focus on hydrogen and the green transition in European regions 揭示绿色能源对绿色生产力的影响：关注欧洲地区的氢和绿色转型

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-03-28 DOI: 10.1016/j.eap.2025.03.044

Heidi Bogdzinski , Ivan Sergio , Jan Wedemeier

{"title":"Unveiling the impact of green energy on green productivity: A focus on hydrogen and the green transition in European regions","authors":"Heidi Bogdzinski , Ivan Sergio , Jan Wedemeier","doi":"10.1016/j.eap.2025.03.044","DOIUrl":"10.1016/j.eap.2025.03.044","url":null,"abstract":"<div><div>The transition towards sustainable economic growth has gained increasing attention due to the urgency of the climate crisis and the need to reduce resource dependency. This study examines the relationship between green energy production and green total factor productivity (GTFP), a metric incorporating environmental factors into traditional productivity measures. Using a panel dataset of 221 European NUTS2 regions across 10 sectors from 2009 to 2021, we estimate GTFP through the Malmquist-Luenberger productivity index. Our analysis focuses on green energy production, particularly hydrogen energy, and its potential impact on GTFP by reducing emissions and optimizing resource use. To ensure robustness, we apply an instrumental variable (IV) approach. The results indicate a positive relationship between green energy production and GTFP. While hydrogen energy also exhibits a positive effect, it does not reach statistical significance. However, we find that the interaction between green and hydrogen energy enhances GTFP, suggesting spillover effects between these technologies. These findings offer valuable policy insights, emphasizing the importance of integrating green energy sources into economic growth and reducing emissions while supporting the successful adoption of renewable technologies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"86 ","pages":"Pages 1064-1082"},"PeriodicalIF":7.9,"publicationDate":"2025-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143870812","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

ENGO geographical proximity and corporate environmental performance 地理邻近性和企业环保表现

IF 7.9 2区经济学

Economic Analysis and Policy Pub Date : 2025-03-27 DOI: 10.1016/j.eap.2025.03.041

Qian Li, Zhouyuanye Wang

引用次数: 0