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| 1 |
ID:
192416
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| Summary/Abstract |
This study aims to answer two questions: What determines the adoption and use of mobile payment? What is the relationship between mobile payment and access to traditional bank services? By using representative survey data in rural China, we apply a hurdle model with 2SLS and find that consumers with better access to bank services are more likely to adopt mobile payment. However, after adoption, the less often the consumers visit banks because of distance or social constraints, the more they use mobile payment to complement bank services. Younger, better educated households with higher income and more smart phones are more likely to adopt and use mobile payment. Among these characteristics, age has the largest marginal effect while income has the least. Households in the agricultural sector are least likely to adopt and use mobile payment. We also find that awareness of neighbors' use of non-cash payment has a substantial positive effect.
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| 2 |
ID:
192424
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| Summary/Abstract |
There has been concern that economic globalization will increase energy consumption and reduce energy efficiency. A slew of studies investigating this assertion have used trade, foreign investment, or both as indicators of economic globalization, with mixed findings. A number of concerns challenge the empirical literature including measurement issues, infrequent temporal variations in the data, business cycle effects and heterogeneity bias, which affect the causal ability of economic globalization. This study used global data of 141 countries to assess the effects of economic globalization on energy efficiency. Our identification strategies involved using more refined measures of economic globalization and energy efficiency, addressing infrequent temporal variations as well as business cycle effects and concerns of heterogeneity bias. Largely, economic globalization positively drives energy efficiency, but this effect suffers from upward bias without controls. We note that infrequent temporal variations in the data and business cycle effects and heterogeneity bias drive the result. Concerning the latter, the result has shown that economic globalization improves energy efficiency only in upper-middle and lower-middle income countries and not in high and lower-income countries. Our results raise serious caution about the causal abilities of existing studies. And we discuss the policy implications.
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| 3 |
ID:
192410
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| Summary/Abstract |
We evaluate the effect of China's monetary policy shocks on corporate real investment. We propose a new approach to identify China's monetary policy shocks using high-frequency surprises based on treasury futures around monetary policy announcements as external instruments. We then estimate the dynamic effect of monetary policy shocks on corporate real investment using a rich firm-level data of all listed non-financial firms in China. We find that an unexpected monetary policy easing boosts firms' investment expenditures with heterogeneous dynamic responses across firms: small-sized firms have quicker responses than large-sized firms, especially for non-state-owned enterprises (non-SOEs). We show that sales revenue response could be the channel through which monetary policy shock transmits to non-SOEs' investment expenditures in China.
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ID:
192422
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| Summary/Abstract |
In this study, we examine whether men and women form gender discrimination for the same reason. To do that, we build an experimental Chinese labor market in which employers evaluate the productivity of workers who perform a real-effort task. Before evaluation, the employer observes the worker’s personal and group information. The personal information contains gender identity and a signal of productivity. The group information reveals the productivity distributions of some other male and female workers who do not differ in average productivity. However, it shows more male workers at the very top productivity levels and more female workers at the very bottom productivity levels in one treatment than in the other. According to the belief-based theory, there will be a greater degree of discrimination against female workers in the former. We find that, however, only male employers’ evaluations are well predicted by this approach. Female employers behave oppositely: their degree of gender discrimination is smaller in the treatment emphasizing men’s advantage in the tails of the productivity distributions. To explain female employers’ evaluations, we adopt the preference-based approach. Our findings suggest that employers of different genders can have different motivations for gender discrimination, and thus call attention to the theoretical foundation of gender discrimination and policy measures aimed at reducing gender discrimination.
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| 5 |
ID:
192414
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| Summary/Abstract |
The long-term impact of children's age at primary school entry on educational attainment and labor market outcomes is one of the primary concerns to families, educators, and policymakers. Using a nationally representative survey of families and individuals, this paper is among the first to explore these effects in a causal sense in the Chinese context and understand the underlying mechanisms. We use a regression discontinuity (RD) design that employs the threshold date for primary school entry set by the 1986 Compulsory Education Law of China as a source of exogenous variation in the timing of school entry. We first document a salient and robust compliance rate of school entry requirement. RD estimates indicate that being born right after the cutoff date significantly increases years of schooling and annual earnings for non-agricultural jobs for the full sample. We also observe remarkable heterogeneous effects on labor market performance by gender. Being born right after the cutoff increases the probability of being in the labor force for men, but decreases that for women. We find that the decline in female labor force participation is mainly driven by women who come from economically and socially disadvantaged families. Further evidence suggests that this decline can be explained by supply-side factors including fertility decision and childcare provisions.
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| 6 |
ID:
192405
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| Summary/Abstract |
The carbon market's effectiveness in deep decarburization and energy transition has been widely proven. However, as other industries join the carbon market in China, the uncertainty and impact of it on the power industry are still under explored. Here, we define the industry-wide scenarios which power industry might confront in the carbon market. Then, we compare its economic output, market activity and environmental impact under initial carbon quota allocation principles based on efficiency and grandfather methods by the comprehensive evaluation model of energy and carbon markets combined with inverse DEA method. Our results show that when the power industry is in an advantageous position, the efficiency method is fairer and more efficient than the grandfather method. The potential economic output rate has more than doubled compared to that of the grandfather method. Market activity and emission reduction potential are 7% and 25% more than that in the grandfather principle, respectively. Nevertheless, when the power industry is in a disadvantageous position, the efficiency method leads to an imbalance between power supply and demand in the market and power shortages in 19 regions. Then the trading activity of the power market drops by 12%, resulting in serious economic loss, especially in China's eastern region (−7.29%). The economic risk caused by the grandfather method has been significantly reduced than that of the efficiency method. And there may be greater potential risks under the efficiency method. This study identifies the potential challenges and obstacles of future carbon market and addresses the urgency of policy to tackle this issue to facilitate a carbon market that operates robustly under uncertainty.
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| 7 |
ID:
192409
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| Summary/Abstract |
Using a nationally representative survey dataset on middle school students in China, this paper examines whether and how exposure to more classmates with a preschool experience affects students' cognitive and non-cognitive outcomes. We make use of the random class assignment rule, required by China's education law, to address the potential selection bias from class sorting. Our results show that exposure to more classmates with a longer preschool duration significantly improves students' cognitive and non-cognitive outcomes, whereas exposure to more classmates with a shorter preschool duration does not have such significantly positive effects, offering evidence of the dosage effects of attending a preschool program from the perspective of externalities. We further demonstrate three possible mechanisms through which the effects operate and quantify the explanatory power of each mechanism in driving the effects.
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| 8 |
ID:
192407
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| Summary/Abstract |
We estimate the causal effect of extreme temperatures on out-of-pocket medical expenditure. To do so we match data from three waves of China Family Panel Studies, a nationally representative longitudinal survey for China, with daily weather records in the county in which the person lives. We find that both extreme cold and extreme heat increase expenditure and that the effect of hot days on out-of-pocket medical expenditure is collectively larger than that of cold days. Extreme temperatures increase time engaged in sedentary activities and contribute to sleep disruption and energy poverty, which adversely affect physical and mental health. Combining our preferred estimates with daily temperature projections from recent climate models, we find that out-of-pocket medical expenditure would increase by 2.290–6.149% in the medium term (2041–2060), depending on whether measures are taken to curb greenhouse gas emissions. Our study highlights a growing, but previously neglected, burden stemming from climate change.
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| 9 |
ID:
192408
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| Summary/Abstract |
This study uses newly constructed data on structural reforms and private and public capital stock to assess the effects of financial reforms on capital formation in developing economies. We find that while both domestic and external financial reforms are important determinants of capital formation, the former is more influential in middle-income countries (MICs) and the latter in low-income countries (LICs). For LICs, external financial reforms work mostly through attracting FDI. For MICs, within domestic financial reforms, what matters most are measures related to strengthening banking supervision and reducing credit controls. These results are driven by capital formation in the private sector. In addition, these effects are nonlinear, and it is important for a country's policy when it comes to the sequence of implementing domestic and external financial reforms. Given the importance of public investment in decarbonization, this study further discusses the potential impacts of financial reforms on climate change and carbon inequality.
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| 10 |
ID:
192423
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| Summary/Abstract |
To date, little is known about how gender peers affect students’ educational and occupational expectations. This study investigates the gender peer effects on students’ educational and occupational expectations, using the 2014 China Education Panel Survey. To address students’ self-selection into classes, we choose a sample of schools that randomly assign students to classes. We find that exposure to more female peers increases students’ probability of expecting to attend university and reduces their probability of expecting to complete only middle school. Besides, exposure to more female peers increases boys’ and girls’ probabilities of expecting to pursue a career as a manager, and reduces their probabilities of expecting to become a teacher, doctor, or lawyer. Moreover, exposure to more female peers has significant positive effects on both girls’ and boys’ probability of expecting to pursue prevalently male occupations. In addition, we discuss the mechanisms and check the robustness of the results. This study helps to understand the gender peer effects in education and the variations in individuals’ educational and occupational choices.
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| 11 |
ID:
192425
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| Summary/Abstract |
Transboundary pollution spillovers have emerged as an important global issue in designing optimal regional economic policies. In particular, China and South Korea have been at odds over which country is the “source of evil” and responsible for their air pollution. This study investigates this issue and identifies the burden of the environmental externalities of pollution between China and South Korea. There are two novelties of this study: first, we employ a unique daily pollution indicator, that is, air visibility, to address data limitations. Second, we propose a novel identification strategy to examine the pollution spillovers of economic activities by exploiting the different holiday arrangements between China and South Korea. Evidence indicates significant bilateral environmental externalities between China and South Korea. Therefore, China and South Korea should make joint efforts to deal with their environmental challenges.
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| 12 |
ID:
192402
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| Summary/Abstract |
Haze pollution is becoming more and more prominent in recent years with the development of China's economy. This article studies how different types of industrial agglomeration contribute to haze pollution. Based on a panel data of 264 Chinese cities from 2003 to 2016, a spatial econometric model was adopted to analyze the related variety and unrelated variety impact on haze pollution and further investigate the moderating effect of technological innovation. The results show that: (1) There is an inverted U-shaped relationship between related variety and haze pollution, however, the overall variety aggravates haze pollution. (2) Technological innovation can significantly alleviate haze pollution, and the level of technological innovation can strengthen the inverted U-shaped relationship between variety and haze pollution.
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| 13 |
ID:
192403
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| Summary/Abstract |
People’s Liberation Army (PLA) related business was rampant in China in the 1980s and 1990s, and they significantly disrupted the local economy. However, due to limited data about PLAs, this issue is rarely investigated and thus the negative impact is hardly measured. In this paper we introduce a new proxy for measuring the approximate level of PLA related business in a specific city, PLA hospital score, to identify cities that are more affected by PLA related business closure. We then employ a difference-in-differences (DID) framework and show that PLA related business closure does bring positive effects to China’s local economy, about a 2% increase in GDP growth per year. We also find that this effect is more significant in cities with median economic size and cities that rely more on secondary and tertiary sectors. We finally provide a possible channel of this effect, which mainly works through providing a more efficient and competitive market to local private firms as well as an investment-friendly environment that attracts foreign investments.
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| 14 |
ID:
192406
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| Summary/Abstract |
Multinational firms face challenges as geopolitical tensions are rising when stakeholders may have divergent views on contentious issues. Sharply different attitudes toward the proposed extradition law by the Hong Kong SAR Government in 2019 and related issues were observed among some residents in mainland China and Hong Kong. While firms such as Cathay Pacific Airways expressed support of the government, it was perceived by some of its customers in mainland China that the firm was hostile to them due to the views expressed by some of its staff based in Hong Kong. In this paper, we estimate the impact of such perceived divergent staff political attitudes on consumer demand. Using a triple differences design that controls for changes in market demand and supply conditions, we find that passenger volumes from mainland China were adversely affected for Cathay Pacific, leading to a monthly decrease of approximately 20%, after contentious political views of some of its staff were widely reported in mainland China. However, the negative effects subside within a quarter. Further analysis reveals heterogeneity in consumer responses by regions, with passengers from South East Asia or countries having closer migration or trade ties with mainland China behaving similarly with those from mainland China.
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| 15 |
ID:
192400
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| Summary/Abstract |
There is increasing recognition that individuals have larger roles to play in reducing greenhouse gas (GHG) emissions. As such, we conduct a systematic literature review to consolidate existing evidence, and examine which factors are most important in driving individuals' and households' climate adaptation and mitigation behaviors in developing countries. A comprehensive literature search yields 58 empirical studies, and 158 usable analyses with which we conduct a vote-counting exercise. We first find evidence of climate inequality as adoption of adaptation behaviors are strongly driven by income. Furthermore, this inequality is likely to exacerbate as most adaptation behaviors (e.g., air-conditioners) emit high levels of GHG. A second major observation is that education and environmental knowledge (rather than income) are more important drivers for climate mitigation behaviors. The two findings mean that in order to reduce climate inequality, policymakers should target and assist vulnerable population according to their ability to adapt, and also implement more intensive educational outreach and information campaigns to encourage individuals and households to adopt GHG mitigation activities.
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| 16 |
ID:
192421
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| Summary/Abstract |
This paper exploits China's accession to the WTO to investigate the impact of a supply shock on quality across the Indian production network. After controlling for increased import competition, including in downstream and third-country markets, and for new export opportunities, we find that a fall in input tariffs raises revenue, quality and prices, whilst lowering quality-adjusted prices and the probability of product exit – consistent with a simple model of multi-product manufacturers gaining access to higher-quality components. Upgrading persists for at least ten years; at the peak in 2010, products with a 10% higher pre-accession input tariff, and hence a larger post-accession fall in tariffs, have 5.3% higher quality. This in turn raises quality further down the supply chain, with input-output linkages amplifying the one-step effect by up to 75%. These results highlight a potential beneficial impact of the “China shock” in developing countries, namely supply-driven quality upgrading.
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| 17 |
ID:
192419
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| Summary/Abstract |
The literature concludes that insecure land rights cause farms to make suboptimal capital investment in attached assets, but not in movable assets, implicitly assuming attached and movable assets to be independent. However, the two asset types can be interdependent because the operational efficiency of movable assets, such as farm machinery, typically depends on field conditions, such as land fragmentation. Thus, investment in attached assets may affect investment in movable assets via farm infrastructure. I develop a conceptual model to explain why tenure insecurity may lead a farm to under-invest in attached assets and over-invest in low-efficiency movable assets relative to the secure-land-right scenario. To quantify the economic significance of investment inefficiency, I collect unique survey data on large-scale farms, for which machinery is of particular importance in production, in Southwest China where land tenure remained insecure in 2016. Simulations based on the large-farm survey data suggest that the suboptimal investment occurs given fairly small probabilities of losing some farmland and results in considerable economic losses. The findings have important policy implications regarding land reforms and farm infrastructure in developing economies.
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| 18 |
ID:
192411
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| Summary/Abstract |
Using longitudinal data from the 2014–2018 China Family Panel Studies, we investigate the impact of internet use (IU) on fertility among reproductive-age women. We find that IU reduces the number of children born, with more pronounced effects among those with a moderate level of education, those aged 16–19, rural residents, and those who are married. These results are robust to alternative IU measures and a series of estimation approaches that control for endogeneity. IU participation affects the number of children born through decreased marital satisfaction, changed attitudes toward traditional gender roles, a reduction in the importance placed on ancestral lines, deteriorated health and reduced fertility preferences.
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| 19 |
ID:
192412
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| Summary/Abstract |
In the context of expanding the new pattern of opening-up, how to improve export product markups is of great significance to China's high-quality export development. This paper systematically investigates the impact of labor price distortion on the markups of export products by using the combined data of Chinese industrial enterprise database and customs database from 2000 to 2013. The results show that labor price distortion significantly inhibits the increase of export product markups of China's manufacturing enterprises, and the above conclusion is still robust after using various methods for robustness test, but this effect is heterogeneous due to different factor intensity, export destination, trade mode, region and ownership. The mechanism tests demonstrate that labor price distortion inhibits the increase of markups through inhibiting R&D innovation, reducing factor allocation efficiency and causing low efficiency of enterprise scale, among which R&D innovation is the most important channel. In addition, this paper examines the impact of labor price distortion on the change of industry aggregated markups, and finds that intra-enterprise effect and entry effect are the main channels for labor price distortion to inhibit industry aggregated markups, while inter-enterprise effect and exit effect have little impact on industry aggregated markups. Our findings provide a new perspective for reinterpreting the mystery of low markups of Chinese export product, and provides an important decision-making basis for the improvement of China's export product markups.
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| 20 |
ID:
192420
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| Summary/Abstract |
Using individual-level retrospective data on early-life hunger experience from China, we investigate the long-term effects of early nutritional deprivation on one's own and adult children's human capital and labor market outcomes. With an instrumental variable approach, we find that hunger experience lowers educational attainment and job quality of the first generation. But this negative impact on human capital does not transmit to the second generation, possibly due to parents' compensatory behavior of human capital investment and extra attention given to children. Our findings imply that the negative impact of non-extreme nutritional adversities on human capital and labor market outcomes are likely to decrease over generations.
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