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ID:
176696
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| Summary/Abstract |
Despite the extensive use of demonstration projects, doubts remain on their effectiveness in promoting the commercialization of emerging technologies. To explore whether public demonstrations could stimulate innovation diffusion and to what extent the effects are, this paper conducted an empirical analysis of China's high-profile electric vehicle demonstration project based on a manually collected data set of 44 pilot cities from 2009 to 2015. The approach of difference-in-differences propensity score matching was used to address the selection bias of pilot cities, and the effects of demonstrating electric buses and electric commercial vehicles were further examined and discussed after a series of robustness check. The empirical results reveal that when controlling the impact of all policy incentives, the deployment of electric vehicles in the public sector has significantly stimulated the purchase of electric vehicles by individuals, especially in the pilot cities with more commercial vehicles, which provides new insights into the formulation of public procurement policies.
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| 2 |
ID:
133190
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| Publication |
2014.
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| Summary/Abstract |
Using nationwide survey data in China, we find evidence of positive FDI spillover effects via entrepreneurship. After controlling for a series of entrepreneur and firm attributes, our OLS estimates suggest that private firms run by entrepreneurs with MNE work experience outperform their counterparts run by entrepreneurs without MNE work experience. To deal with the potential endogeneity in the sense that inherently more capable entrepreneurs may self-select into MNEs before launching their own businesses, we use a nonparametric way, i.e., the propensity score matching (PSM) method, to identify the MNE "treatment" effect. The PSM estimates remain consistent with the OLS evidence, and the estimates are robust to different sensitivity analyses. We further find that private firms run by MNE-trained entrepreneurs do operate differently from their counterparts in both their global involvement and internal management, which are the underlying channels of the spillovers.
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| 3 |
ID:
168343
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| Summary/Abstract |
Using data from the 2012 consumer finance survey in China, we extend the literature on household finance by examining the effects of both financial literacy and housing value on household financial market participation, the role of which has been examined separately in the existing literature. The results show that financial literacy significantly improves the probability of household financial market participation, while the housing value has an obvious “crowding-out effect” on household financial market participation in urban China. Further research finds that the role of financial literacy in household financial market participation in households with a low housing value is stronger than that in households with a high housing value. Furthermore, the study of the regional differences shows that among households with a high housing value, financial literacy plays a more significant role in household bond market participation in less-developed cities. Among households with a low housing value, improvement in financial literacy plays a more significant role in household fund market participation in less-developed cities and under-developed cities. Our findings remain robust after alleviating potential bias due to endogenous problems by applying the instrumental variable (IV) method and propensity score matching (PSM) method. Finally, the paper proposes corresponding policy recommendations.
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