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| 1 |
ID:
199633
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| Summary/Abstract |
Agricultural production, a cornerstone of human activity, is facing mounting challenges from instability and uncertainty. This study examines the impact of digitalization on the resilience of agricultural production in China, developing an innovative probabilistic framework able to assess agricultural resilience at the county level. The proposed model measures resilience as the likelihood of agricultural systems maintaining output above a defined baseline under uncertain conditions. Based on panel data of 1766 counties in China, this study reveals an inverted U-shaped relationship between digitalization and resilience. Specifically, whereas moderate digitalization enhances resilience, excessive digitalization introduces vulnerabilities. Mechanism analysis shows that digitalization drives rural income growth and optimizes factor utilization, but excessive digitalization widens income disparities and triggers resource outflows from agriculture. Results also show that new agricultural operating entities can mitigate the adverse effects of excessive digitalization by fostering collective action. These findings deepen our understanding of the complex mechanisms underlying agricultural digital transformation and offer practical insights for promoting resilience through balanced digitalization.
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| 2 |
ID:
199632
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| Summary/Abstract |
China launched the Province-Managing-County reform in 2004. Since then, the transfer payments, particularly for agricultural purposes, were directly allocated to the reformed counties from their superordinate provincial government, bypassing the initial intermediary cities. The reformed counties also reserved a larger share of tax revenue within the adjusted tax-sharing arrangement with upper cities. Based on the gradual roll-out of the reform, we utilize a difference-in-differences approach and a county panel ranging from 2003 to 2018, finding that the fiscal reform contributes to the promotion of food production. Theoretically, the fiscal reform would affect food production through the changes of fiscal self-sufficiency and transfer payments. However, the results only provided evidence to support the latter channel. That is, the Province-Managing-County reform raised agricultural expenditure by effectively allocating transfer payments (mainly special transfer payments) to counties, leading to a significant enhancement of land productivity at the county level, primarily manifested in an increase in the per unit area of irrigated land.
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| 3 |
ID:
199631
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The rapid urbanization in China reveals distinct regional patterns: some areas demonstrate a pattern of concentrated growth of cities (“metropolization”), while others experience the rapid proliferation of dispersed small towns (“townization”). We present a novel approach for quantifying the size of urban settlements in China using remote sensing big data. Additionally, we propose a criterion based on Zipf's law to determine the population threshold for classifying a settlement as a “metropolized settlement.” This criterion enables us to distinguish between metropolization and townization. Analysis of China's urbanization rate decomposition indicates a swift expansion of townization, whereas metropolization progresses at a more moderate pace between 2001 and 2020. Townization has predominantly driven urbanization in most regions of the North China Plain and Northeastern provinces, overshadowing metropolization. Furthermore, we examine the connection between these urbanization patterns and economic development. Empirical findings highlight a stronger association between metropolization and economic growth compared to townization.
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| 4 |
ID:
199630
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| Summary/Abstract |
Identifying the pure technology spillover effect of foreign investment is an academic problem. The academic community also knows little about the role of transportation infrastructure in it. For the first time, this article uses the special event of R&D center foreign firms entering to explore how two completely different transportation infrastructures, high-speed rail, and subway, promote technology spillover from foreign investment within the same empirical framework. Based on city-industry-year panel data in China from 2004 to 2020, this article empirically proves that both high-speed rail and subway can promote R&D center foreign firms' technology spillover. Further analysis found that transportation infrastructure and R&D center foreign firms can jointly promote the development of China's key industries, that is, the core effect is stronger for high-tech and strategic emerging industries. This article also provides evidence about cross-city technology spillover from R&D center foreign firms. First, this article takes advantage of the special nature of R&D center foreign firms to provide new ideas for subsequent related research. Second, it empirically confirms that transportation infrastructure can promote foreign investment technology spillovers.
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| 5 |
ID:
199629
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| Summary/Abstract |
Using the “Broadband China” strategy as a quasi-natural experiment, we employ the difference-in-differences model to examine the impact of broadband internet on the income inequality among the floating population based on the panel data of 35 major cities in China from 2011 to 2018. We find that broadband internet significantly widens the income inequality among the floating population. This conclusion still holds after robust tests including parallel trends, placebo, endogeneity, and treatment effects heterogeneity. The mechanism analysis indicates that broadband internet widens income gap between the high-skilled and low-skilled floating population, as well as between the urban and non-urban registered household floating population, but does not substitute for labor. Further analysis shows that broadband internet leads to skill-biased technological progress rather than routine-biased technological progress, has a greater effect on widening the income inequality among the inter-province, established and young floating population, and represents a Pareto improvement for the floating population's welfare.
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| 6 |
ID:
199628
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| Summary/Abstract |
The shadow and spillover effects of large cities are critical for achieving balanced regional economic development. However, empirical studies that explore how major cities influence the innovation growth of their neighboring cities are scarce. This study employs panel data from Chinese cities covering the period from 1996 to 2018 to empirically assess the impact of proximity to cities with comparative innovation advantages on local innovation growth. Our results reveal that until 2005, proximity to innovative core cities negatively affected local innovation growth. This adverse effect gradually diminished over time, becoming significantly positive after 2010. Furthermore, the advent of high-speed rail has played a pivotal role in mitigating the negative impacts of nearby innovative core cities. These findings offer fresh insights into regional innovation ecosystem dynamics and underscore the transformative role of infrastructural developments in bolstering urban innovation capacities.
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| 7 |
ID:
199627
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| Summary/Abstract |
In the digital era, whether digital finance contributes to carbon reduction is crucial for achieving global sustainable development goals. This study explores the effects and mechanisms of digital finance on carbon emissions using panel data from Chinese counties during 2014–2022. Findings show that digital finance has a positive impact on carbon reduction at the county level in China. Mechanism analysis reveals that digital finance promotes corporate green technology innovation, accelerates the market exit and clean transformation of enterprises with high pollution, high energy consumption, and high emissions (“three-high”), limits government land concessions for “three-high” industries, and improves local fiscal autonomy. These mechanisms act as important channels for reducing carbon emissions. Heterogeneity analysis indicates that digital finance has a stronger impact on carbon reduction in counties with a high level of fintech, a high degree of carbon lock-in, and low climate risk. Additionally, digital finance facilitates regional synergistic carbon reduction and the synergy between pollution and carbon reduction while enhancing ecological environment quality. Our work contributes to the literature on digital finance and green transition, and provides important implications for China and the world in tapping the potential of carbon reduction from the perspective of digital finance.
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| 8 |
ID:
199626
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| Summary/Abstract |
This paper examines the Housing Purchase Restriction (HPR) policy implemented in selected Chinese cities in 2010 as an exogenous shock and finds that the policy significantly promotes entrepreneurship. The effect is more pronounced in cities with higher economic levels, robust financial systems, intense bank competition, and active venture capital activities. Restricting housing speculation and fostering talent agglomeration are the two main mechanisms through which the HPR policy promotes entrepreneurship. Channel analysis reveals that the HPR policy mainly supports entrepreneurship in small-scale businesses and high-tech industries. Furthermore, our study sheds light on how the HPR policy affects entrepreneurial innovation. Our findings contribute fresh insights to the understanding of how the housing market collectively shapes entrepreneurship.
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| 9 |
ID:
199625
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| Summary/Abstract |
The paper focuses on exploring the impact of China's production-oriented aid projects on bilateral trade between China and Africa. By matching data from AidData, Eora Global MRIO, World Development Indicators (WDI), and CEPII Remote Database, regression results indicate that China's aid model significantly promotes sustainable growth in China-Africa bilateral trade. In the mechanism analysis, it is revealed that aid enhances African countries' autonomous trade capabilities across national, industrial, and product dimensions, thereby fostering the growth of bilateral trade between China and Africa, highlighting China's aid to Africa as development-oriented. Heterogeneity test results demonstrate that the positive effects of aid are more pronounced in African countries with high political stability, convergent values, and strong cooperative consensus. Unlike previous studies that overlook production-oriented aid projects, this paper delves into this dimension, offering novel insights into the effectiveness of non-standardized aid forms.
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| 10 |
ID:
199624
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| Summary/Abstract |
This study calculates China’s net risk from the perspective of the global systemic financial risk spillover network, and constructs TVP-VAR-SV models for China to examine the time-varying effects of geopolitical exposure on aggregate systemic financial risk contagion and investigate the heterogeneous impacts across different financial submarkets. Furthermore, an innovative combination of machine learning techniques for contribution decomposition and time-varying effect analysis is introduced to identify time-varying channel effects, providing a reference for channel analysis in other studies.
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| 11 |
ID:
199623
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| Summary/Abstract |
When firm owners delegate decision-making to managers, such as corporate executives who operate firms directly, a firm's behavior can vary depending on how the owner determines the incentives of the managers. This study employs a lab experiment to investigate the impact of delegation on collusive behavior of firms in a situation where antitrust policies exist. The experiment highlights the following two key findings: (i) Firms form cartels strategically, alternating their collusive and competitive output to evade antitrust regulations, rather than consistently producing collusive output to maximize joint profits; and (ii) Delegation does not necessarily increase the overall number of cartels, but it may change how cartels are formed.
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| 12 |
ID:
199622
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| Summary/Abstract |
This paper experimentally examines gender differences in the tendency to follow private information in a social learning game. The experimental results show that the proportion of decisions made by male participants that are consistent with their private signals is significantly higher than that of female participants, i.e., men are more likely to follow their own private information than women. This gender effect is primarily present when participants' private signals contradict the majority of public information. Overconfidence is a mechanism underlying the gender effect.
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| 13 |
ID:
199621
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| Summary/Abstract |
Competition is a primary form of human social interaction and also serves as a distribution mechanism. Wealth determines the amount of resources that competition participants can invest and is a crucial factor influencing competitive input. To date, the effects of wealth growth on competition intensity remain unclear. To clarify the effects of wealth growth among competition participants on competitive behavior, we employ a between-group design to study how individuals with different initial wealth levels compete. We find that when initial wealth is equal, the relationship between wealth growth and competitive input is monotonically increasing. When initial wealth is unequal, unilateral wealth growth has different effects on the poor and the rich. When the wealth of the rich increases and the wealth gap widens, the competitive input from both sides does not change significantly. However, when the wealth of the poor increases and the wealth gap narrows, competitive input from both sides increases significantly, intensifying competition; this results in negative net income for both sides and leads to substantial social losses. These behaviors are propelled by the combined influences of wealth expansion and the widening wealth disparity. Wealth growth significantly impacts individual bidding, while the wealth disparity has a negative effect on the bidding of the poor. The conclusions of this paper may help to explain the phenomenon of intensified social competition as the wealth disparity increases.
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| 14 |
ID:
199620
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| Summary/Abstract |
This paper uses data from the China Health and Retirement Longitudinal Study (CHARLS) conducted in 2011, 2013, 2015 and 2018 to examine the effect recent health and societal changes have had on the ability of households to manage the financial burden of disease. Although health insurance in China has undergone significant reforms over the past decade, out-of-pocket health spending is still widespread. In light of these gaps in the provision of health insurance, households are forced to rely on their adult children for support. We find that the type of support matters, with the incidence of catastrophic health expenditure being the lowest for parents who live in multigenerational households, where it is easier for children to provide directly accessible instrumental and emotional support. For households where there is no co-residence, local support (of the type provided by children who live in the same village/neighbourhood as their parents) is no substitute for the type of assistance (usually financial) that households receive when all their children live beyond the village/neighbourhood.
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| 15 |
ID:
199619
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| Summary/Abstract |
Labor cost has rapidly increased in the past decades. However, little is known about its effect on the firm-level robot adoption, and evidence about the consequences of robot adoption on firm production is limited. Based on a novel dataset of robot adoption at the firm-level, we use geographic discontinuity design to identify that labor costs significantly increase robot adoption and further improve product quality. Our findings are robust to alternative specifications and particularly pronounced for foreign firms, and firms with low financial constraints, and general trade, and firms more dependence on unskilled labor, and firms in higher position in the value chain. When adopting robots to substitute labor, firms tend to employ (layoff) skilled (unskilled) labors, which increases expenses on employee training.
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| 16 |
ID:
199618
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| Summary/Abstract |
This paper empirically analyzes how U.S. export control policies affect the environmental, social, and governance (ESG) performance of firms in sanctioned sectors that are not yet blacklisted, using comprehensive data from the U.S. entity list and information on Chinese publicly listed companies spanning from 2014 to 2022, applying the multiple-period DID method. The findings show that following the emergence of blacklisted firms in the industry, other firms in the same sector experience a significant increase in their ESG performance, which holds after undergoing various robustness tests. This indicates that firms tend to respond to "bad" events, such as the uncertainty caused by trade shocks, by adopting "good" measures, including enhancing their ESG practices. We borrow the Awareness-Motivation-Capability (AMC) framework to conduct heterogeneity analysis, and find that firms operating in industries with higher levels of sanction intensity, firms in politically sensitive industries, reputation-oriented firms, and firms with less fixed assets or a higher share of imports from the United States exhibit a larger ESG promotion effect. In addition, we find the proportion of government subsidies relative to total assets, the return on equity (ROE), and the firm's market share increase after the firm's industry is sanctioned, which enhances their capacity to engage in ESG practices. This paper widens the scope of research on the impact of export controls on firm behavior and offers new insights for decision-making in responding to U.S. export control shocks.
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| 17 |
ID:
199617
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| Summary/Abstract |
This paper examines the intricate interplay between geopolitics and global value chains (GVCs) in shaping international trade dynamics. By developing indices of voting similarity from United Nations General Assembly data, we quantify the influence of geopolitical relationships on trade flows and economic welfare. Utilizing a structural approach grounded in the World Input–Output Database, we estimate the elasticity of geopolitics across various sectors, distinguishing between intermediate goods and final consumption. Our findings reveal significant trade and welfare implications of geopolitical relationships, highlighting how political alignment or discord influences economic outcomes across countries. Through counterfactual analyses, we explore scenarios such as the Israeli–Palestinian Conflict, the Russo–Ukrainian War, and the China–United States Trade Disputes, providing insights into how geopolitical shifts could reshape GVCs and economic performance globally. The results underscore the importance of considering geopolitical factors in trade policy and economic strategy formulation.
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| 18 |
ID:
199616
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| Summary/Abstract |
Income mobility is crucial in dismantling social stratification and fostering social integration. Facilitated by a balanced panel dataset comprising 792 rural households from 1986 to 2020 in Sichuan province, China, this study seeks to assess the impact of agricultural input allocation on rural households' income mobility. A multi-level differentiated polarization index is constructed to capture the dynamic characteristics of farmers' income polarization. Shapley value decomposition is used to breakdown farmers' income polarization index according to the source of income. Based on these, panel data econometric modelling is further utilized to answer the research question. It is found that optimal allocation of agricultural inputs fosters income mobility and mitigates income polarization. Misallocation in agricultural inputs, especially labour and intermediate products, substantially elevate the income polarization level for about one third of rural households. However, mediation analysis reveals that the surge in off-farm employment alters the income mobility structure by shifting the source of income polarization from agricultural income to off-farm income. Elevating the proportion of off-farm employment among rural households and accelerating agricultural socialization services can therefore help optimize agricultural input allocation and facilitate income class upgrades among rural households.
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| 19 |
ID:
199615
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| Summary/Abstract |
This study explores the impact of China's higher education expansion, focusing on the regional admission quota system, on intergenerational educational mobility and household investment behavior. We analyze the extent to which these educational expansions reshape family responses across socio-economic groups and the subsequent effects on social mobility disparities. Our theoretical framework posits that increased access to higher education induces heterogeneous household reactions, driven by differing resource availability and socio-economic contexts. As a result, the actual mobility prospects are significantly shaped by the strategies families adopt within the competitive quota-based system. Empirical findings suggest that while the expansion has widened general access, it has not significantly enhanced upward mobility for disadvantaged groups due to their constrained capacity to leverage these opportunities. Conversely, households characterized by higher educational attainment, urban residency, or greater financial resources are better equipped to capitalize on these expanded opportunities, thereby deepening socio-economic inequalities. This analysis highlights the dual nature of regional admission quotas: while intended to promote equity, they often perpetuate educational disparities. Family-level strategies thus emerge as crucial determinants of intergenerational mobility outcomes. These findings highlight the need for targeted policy interventions to mitigate inequities in the quota system by enhancing the capacity of disadvantaged households to benefit from expanded educational opportunities, ultimately fostering equitable outcomes across socio-economic groups.
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| 20 |
ID:
199614
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| Summary/Abstract |
Support from the business world is an indispensable factor in alleviating poverty. Nevertheless, it is unclear what internal motivations drive firms to participate in poverty alleviation (PA) programs. In this study, leveraging social identity theory, we examine chief executive officer (CEO) hometown identity as an intrinsic driver for its PA participation when a firm has a hometown CEO. Employing a panel dataset of Chinese listed firms from 2016 to 2020, we find that CEO hometown identity has a positive effect on corporate PA participation. Furthermore, CEO media appearance and environmental complexity strengthen the relationship between CEO hometown identity and corporate PA participation, whereas organizational slack weakens this relationship. Our study is among the first to identify the mechanism through which CEO hometown identity affects corporate PA participation and provide references for other countries in the world suffering from poverty; that is, hometown companies and hometown CEOs can become key forces in alleviating poverty.
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