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| 1 |
ID:
187841
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| Summary/Abstract |
This paper examines China's domestic production networks. It uses VAT invoices to build inter-provincial input-output tables for 2002 and 2012. These are combined with population censuses to determine the location of workers involved in production. We document i) increased trade in intermediate inputs between provinces; ii) inter-provincial production fragmentation that differs by product; iii) substitution of domestic for foreign intermediates, resulting in increased domestic value added in exports. Information about the occupations of workers suggest that iv) richer coastal areas such as Beijing, Tianjin, and Shanghai specialize in R&D and marketing activities, whereas v) inland provinces specialize in production activities.
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| 2 |
ID:
187839
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| Summary/Abstract |
This paper addresses the impact of China's historical clan culture on corporate behavior. Specifically, it looks at how clan culture decreases the risk-taking of Chinese enterprises. Using a unique dataset, which combines the pedigree density and distribution of publicly listed Chinese enterprises in city-regions, we document that a 1% increase in regional pedigree density dramatically decreases the risk-taking of locally listed enterprises by 2.66%. Furthermore, this paper verifies that in places with a strong clan culture, senior executives (presidents and CEOs) make their enterprises more conservative, taking on the responsibility of protecting the interests and maintaining stability of the clan, and the reputation of them in the clan. Such enterprises have relatively stable business networks and are unwilling to carry out high-risk innovations and cross-city M&As. In addition, their senior executives (presidents and CEOs) are more stable, with longer tenure and a lower frequency of replacement. Finally, the paper notes that improvements in formal institutions could mitigate the negative relationship between clan culture and corporate risk-taking.
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| 3 |
ID:
187838
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| Summary/Abstract |
SMEs (small and micro enterprises) in developing countries are in general financially depressed; business owners thus resort to other financial instruments (here, personal credit cards) when access to bank loans is prohibited. By investigating two different types of SMEs (namely, informal businesses and formal SMEs) in China, we find that SMEs turn to credit card debt as a substitute when they fail to obtain bank loans. Specifically, we find that households with informal businesses are more likely to use credit cards when their businesses are financially constrained. We also find that when financially constrained, formal SMEs are more likely to carry credit card debt and are also carrying more. This relationship persists after selection issues are addressed. However, credit card debt and bank loans are hardly perfect substitutes as these two instruments may function differently. Consistently, we find that even with bank loans, formal SMEs still carry substantial credit card debt. Additionally, compared to those with no fund need and thus no bank loan, formal SMEs with bank loans are carrying more credit card debt.
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| 4 |
ID:
187832
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| Summary/Abstract |
Telemedicine and telehealth hold promise for reducing access barriers caused by travel distance. However, little is known about how the Internet affects patients' online provider choices and thus the spatial distribution of healthcare utilization. This study investigates the effect of distance on flows of online medical consultations using a unique dataset from one of the leading third-party online healthcare platforms in China: Haodf.com. We show that the geographic distance between doctors and patients is negatively associated with online service utilization, though this effect is almost 40% ~ 50% weaker for online medical services than it is for offline medical services. We also find a strong “home bias” in which patients and doctors tend to locate in the same prefecture and in the same province. Further analyses suggest that prior in-person visits before online consultations, the potential need for a follow-up physical visit after an online consultation, and information friction may contribute to the distance effect. These findings have policy implications for improving healthcare access in China and other nations.
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| 5 |
ID:
187834
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| Summary/Abstract |
We study the approximate sources of China's business cycles in an estimated dynamic stochastic general equilibrium (DSGE) model with housing and banking. The model replicates well the volatility and cyclicality of key macroeconomic variables observed in the past two decades in China. A host of shock decomposition exercises demonstrate that, among the shocks being considered, both financial and housing shocks are driving China's business cycles, accounting for a particularly large fraction of the variance in most macroeconomic and financial variables at the business cycle frequencies. In particular, the capital quality, housing demand, and loan-to-value shocks display prominent contributions to the business cycle fluctuations. Moreover, there exists substantial interactions between the banking and housing sectors in China, where the collateral constraint and the financial constraint amplify with each other. The results shed new light in the understanding of China's business cycles, and may serve as a useful benchmark for future quantitative analyses of China's macroeconomic fluctuations using DSGE frameworks.
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| 6 |
ID:
187828
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| Summary/Abstract |
By exploiting the massive college enrollment expansion in China beginning in 1999, we investigate the effect of higher education on health and health behaviors. Using data from the China Family Panel Studies in 2018 and employing an instrumental variable approach, we find that higher education has a significant effect on health and health behaviors. Each additional year of education increases the probability of reporting good health and having good memory by 1.9 and 3.1 percentage points (pp), respectively. Moreover, it decreases the probability of being overweight, smoking, and drinking by 1.3, 2.3, and 1.2 pp., respectively. By comparing the effect size with the findings in previous literature, we conclude that the effect of education on health is greater at higher levels of education. Further analysis suggests that education may affect health and health behaviors through two channels: the resources acquired by individuals and the prices faced by them.
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| 7 |
ID:
187837
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| Summary/Abstract |
By raising road transportation costs, an increase in gasoline prices should be expected to reduce housing demand in locations further from the central business district (CBD) relative to inner-city locations. This study uses a monthly real estate area dataset for 19 large cities in China over 2010–2018 to investigate the impact of gasoline prices on intra-city spatial differentials in housing prices. The findings suggest that higher gasoline prices on average lead to a relative decline in housing prices in outer suburbs, with a 1% increase in gasoline prices on average leading to a 0.004% relative reduction in home values for every additional kilometer from the CBD. The effect is larger in cities that have higher automobile ownership rates and that are less densely populated. The results are consistent with a conclusion that the rise of electric vehicles, autonomous vehicles, and working from home is likely to contribute to a lowering of geographical price differentials within Chinese cities over time.
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| 8 |
ID:
187829
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| Summary/Abstract |
We estimate the long-term costs of job displacement for individuals who lost their jobs during the dramatic reform of state-owned enterprises (SOEs) in the late 1990s in China, using data from the China Health and Nutrition Survey. We find that the workers displaced during the SOE reform suffered substantial and persistent earnings losses. In addition, by comparing wage losses and reductions in employment and work hours over time, we find that the majority of long-term earnings losses were driven by declines in post-displacement wages. Moreover, we find that the displaced workers tended to find reemployment in low-skilled occupations, in the private sector, with less profitable employers, and through informal contracts, which may explain the substantial costs of displacement.
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| 9 |
ID:
187835
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| Summary/Abstract |
It is of great importance for government to design effective incentive mechanisms in environmental governance. This paper investigates the causal effects of environmental (de)centralization on local governments' environmental governance. Based on stragged establishments timing of regional Supervision Centers for Environmental Protection (SCEPs) in China, we introduce a unique government administrative dataset on firm pollution in order to conduct gradual intensity difference-in-differences estimations. We present strong evidence that establishing the SCEPs significantly prompt firms to reduce emission pollution. Since the establishment of the SCEPs brings more effective information collection and supervision, promoting local firms reduce pollutant generation and increase investment in pollution control. Moreover, the SCEPs could coordinate adjacent provinces' incentives on reducing firms' emissions around provincial boundaries. Besides, this study provides clear policy implications that when fiscal decentralization carries the risk of aggravating environmental pollution, vertical management structures in environmental governance could effectively strengthen incentives and coordination.
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| 10 |
ID:
187831
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| Summary/Abstract |
By merging all the industrial enterprises above designated size (over 300 thousand in 2013) at both the city level and the industry level, we examine the green transformation process of China's industrial sector for nearly 300 prefecture-level cities between 2004 and 2013. Since about 40% of these cities are under non-governmental environmental monitoring by means of releasing the pollution information transparency index (PITI) annually, we then empirically evaluate the green responses of Chinese industrial sector to the non-governmental environmental monitoring from a randomized natural field experiment by employing a difference-in-differences (DID) approach. The results indicate that the PITI release by a third party could significantly contribute to the green transformation of local industrial sector, and the effects are stronger in cities with more stringent environmental regulation and higher levels of economic development and marketization. Moreover, production factors appear to be reallocated from the polluting sectors to the non-polluting sectors to green the industrial sector. Specifically, more and more capitals and labors are invested in the non-polluting sectors in the cities with the PITI disclosure. Existing firms may exit the market, and forthcoming polluting firms are nipped in the bud.
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| 11 |
ID:
187825
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| Summary/Abstract |
This article comprehensively reviews the higher education policymaking and implementation in China since the reform and opening up in 1978. With the presented statistical data, this article discusses the intended and unintended consequences of China's higher education reform. In addition, by critically reviewing the literature and analyzing the data on China's higher education reform, this study concludes its outcomes into decentralization, stratification, massification, marketization, and internationalization.
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| 12 |
ID:
187830
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| Summary/Abstract |
This study investigates how the COVID-19 pandemic has affected teachers' job-specific stresses and their enthusiasm for the teaching occupation. We use unique data from China that cover the periods before and after the start of the pandemic and apply various estimation methods. We find that, among rural young teachers, the pandemic has caused higher teaching stress and career development stress and has reduced passion toward the teaching occupation. We investigate the working channels of the pandemic, including changes in job-related activities and social network. After controlling for possible working channels, the COVID-19 pandemic still shows a strong direct impact on job sentiments.
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| 13 |
ID:
187843
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| Summary/Abstract |
The effect of inequality on happiness should intrigue social scientists. Of the many dimensions of income inequality, we explore four, analysing a rich data set for China. Does actual or perceived inequality have a greater effect on happiness? We find that perceptions of inequality are the more important. How broad is the reference group with which people compare themselves? They report that it is narrow; and indeed narrowly defined inequality has the greater effect on happiness. Do perceptions of the degree of fairness of inequality matter? They do, as they ameliorate the adverse effect of inequality on happiness, especially for the poorest. Is it self-centred or community-based inequality which affects happiness? Both measures have significant effects, but in opposite directions. The research and policy implications are discussed.
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| 14 |
ID:
187833
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| Summary/Abstract |
Drawing on China Employer-Employee Survey data collected in 2018, this study examines the effects of family ownership on firm innovation in China. Baseline regressions suggest that Chinese family firms have significantly lower R&D investment and number of patents than non-family firms, and the results are not sensitive to response quality, unobserved characteristics, and non-random assignment of family ownership. Furthermore, this gap can be effectively explained by the lower management quality of family firms. Heterogeneous analyses indicate that the low innovation of family firms appears only in more competitive environments. To improve innovation, we suggest that Chinese family firms should make increased efforts to upgrade their management.
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| 15 |
ID:
187840
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| Summary/Abstract |
This paper shows the optimality of a two-tier linear salary scheme in internal labor markets and identifies conditions under which discretionary promotion is better than rule-based promotion and vice versa. Our main findings are: (1) regardless of whether discretionary promotion or rule-based promotion is used, a two-tier salary scheme is optimal; (2) the salary is contingent on promotion, which is fixed before and linear after promotion; (3) if the difference in human capital among agents is small, discretionary promotion is superior; (4) if the expected replacement cost of human capital is high, discretionary promotion is superior; (5) if the risk of facing/incurring a high replacement cost of human capital is high, discretionary promotion is superior; (6) if the chance of having a high human capital agent is high, rule-based promotion is likely to be superior; and (7) if the productivity improvement from a job promotion is large, rule-based promotion is likely to be superior. We have also found empirical evidence in support of our theory on the two-tier salary scheme.
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| 16 |
ID:
187836
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| Summary/Abstract |
China has exerted great efforts in the past decades to fight against particulate matters and has achieved initial results, but ozone pollution has increased significantly. Using a unique diagnostic data of a peninsula city in China, this study evaluates the health effect of ozone pollution on emergency room admission and medical expenditure. We present strong evidence that ozone has a significant negative impact on health. Specifically, one standard deviation increase in ozone pollution will result in an additional 3.30, 2.25, and 4.94 weekly emergency room admissions in respiratory, ophthalmology, and internal medicine. Our analysis of medical expenditure implies that one standard deviation increase of ozone pollution generates a 5.89 million yuan increase of annual medical expenditure for a representative city. We further show that land wind, sunny weather, and dense roads significantly moderate the adverse health effects of ozone. Our findings offer a timely reminder for policymakers to pay attention to “invisible” ozone pollution while managing particulate pollution.
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| 17 |
ID:
187826
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| Summary/Abstract |
This paper studies the role of parental input in university access in the context of a 10-fold expansion of China's higher-education sector since 1999. Using a Logit regression, we find that an increase in a parent's education level significantly raises their child's probability of entering university. Moreover, the effects of parental involvement and children's trust towards their parents on university entrance are highly significant. The results are robust to Probit and Linear-Probability-Model specifications. Heterogeneity analysis reveals that for rural and/or worse-educated families, parental involvement significantly affects the child's access to university, while for urban and/or better-educated families, the child's own study attitude is key for progression to university. To address the confounder of genetic inheritance, we use regression discontinuity and two-stage least squares and find that the nine-year compulsory education policy launched in 1986 not only increased the education years of the first generation by about 1.66 years, but has also had a lasting effect by raising the second generation's probability of access to university by 11.77%.
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| 18 |
ID:
187842
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| Summary/Abstract |
In this paper, we investigate how management team R&D experience affects corporate innovation. A finer-grained empirical analysis supports that firms led by managers with R&D hands-on experience are associated with high innovation productivity. Using the mediation effect models, we uncover three underlying economic mechanisms that possibly explain the relation between R&D experience and innovation; the transformation effect, the information effect, and the resource effect. Furthermore, we find that R&D experience is critical for senior managers (CEO and co-CEO) and junior managers (other executives) in spurring corporate innovation and their combination substantially contributes to increased innovation productivity; however, our findings suggest junior managers play a more fundamental role while senior managers play a leadership role. We also find that managerial R&D experience enhances more innovation in state-owned enterprises (SOEs) than in non-SOEs. Our conclusions are consistent with the learning by doing theory that specialist managers with hands-on experience are more critical for technological innovation.
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| 19 |
ID:
187827
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| Summary/Abstract |
Using data from the China Family Panel Studies (CFPS) 2010 and a strictly implemented one-child policy as a quasi-experiment, this paper analyses the changes in parents' educational expectations of their children and the underlying mechanisms in a fuzzy regression discontinuity framework. It was found that one-child policy compliers have lower educational expectations for their children after acquiring an advanced education than those who did not. The finding remains valid after robustness analysis and placebo tests. Combined with an examination of the intergenerational effects of birth, this finding may be related to parents' assessment of and responses to educational returns and equality of educational opportunities. It was also found that parents with lower educational attainment in the high-income group have higher educational expectations than those with higher educational attainment, while for those with lower income, there is no significant difference between higher educational attainment and otherwise, which indirectly verifies the causal inference of this paper. The finding of this study explains the new “useless education theory” and provides a new perspective for understanding the intergenerational transmission of education.
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