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| 1 |
ID:
187860
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| Summary/Abstract |
This paper explains the changes in the composition of the source countries or regions of FDI in China from the perspective of taxation. Based on FDI data from 2003 to 2012, the empirical test, employing the difference-in-differences (DID) model, shows that, after the implementation of the tax agreement between the mainland and Hong Kong in 2007, FDI from Hong Kong increased significantly. After the integration of domestic and foreign-funded enterprise income tax systems in 2008, Hong Kong capital inflows increased even more drastically. The extended analyses show that, the substantial increase in Hong Kong capital after the implementation of this bilateral tax agreement was partly related to the diversion effect of investment. MNCs might have diverted investment from other tax havens to the mainland via Hong Kong, resulting in a sharp increase in the amount and proportion of Hong Kong investment, whereas those of FDI from other tax havens have declined.
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| 2 |
ID:
187849
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| Summary/Abstract |
The long-term effects of adverse childhood experiences (ACEs) negatively affect health, well-being, and life outcomes. We make use of a unique data set of survey responses from Chinese inmates to identify specific correlates of ACEs, measured by emotional abuse, emotional neglect, physical abuse, and childhood bullying. We find that having a troubled friend during childhood, parental alcohol use, and parental absence are positively correlated with all four measures of childhood trauma. In addition, an inmate's educational attainment has a strong relationship with self-reported trauma. Our data allow us to examine the relationships between life circumstances and ACEs for prison inmates, a group of people with poor life outcomes, thus providing direction for policy interventions.
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| 3 |
ID:
187863
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| Summary/Abstract |
In this paper, we explore the relationship between dialectal and cultural diversity and the effects of dialectal diversity on economic performance by drawing evidence from the Chinese Family Panel Study (CFPS) and Chinese prefecture-level cities. We find that dialectal diversity is a proxy for cultural diversity in China. We compute five indices of Chinese dialectal diversity: 1. Dialectal fractionalization; 2. Adjusted dialectal fractionalization; 3. Dialectal polarization; 4. Adjusted dialectal polarization and 5. Periphery heterogeneity. Dialectal fractionalization and dialectal polarization have a positive effect on both income per capita and economic growth. Adjusted dialectal fractionalization and periphery heterogeneity exhibit a positive effect on economic growth. The effect if robust when considering the influence of Putonghua proficiency and external migration. Our analysis also shows that dialectal diversity promotes economic performance through increasing public expenditure.
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| 4 |
ID:
187857
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| Summary/Abstract |
Programs to alleviate poverty by corporations are increasingly popular as a new form of corporate social responsibility. This study examines how the political connections of a firm's chairperson are associated with decisions to alleviate poverty based on a sample of listed Chinese firms from 2016 to 2018. We find that the chairperson's political connections increase the probability of participation and the amount of investment in programs to alleviate poverty. This positive relationship is mainly manifested in firms with high agency costs and low regional economic conditions. In addition, the chairperson's political connections are not related to the efficiency of the poverty alleviation program. Politically connected firms receive less government recognition with an increase in investment in poverty alleviation. Our findings are consistent with the notion that firms participate in poverty alleviation programs for reciprocal favor exchanges, but they fail to manage these programs efficiently.
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| 5 |
ID:
187851
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| Summary/Abstract |
This study examines the heterogeneous effect of higher education on intergenerational mobility of rural and urban residents before and after China's higher education expansion (CHEE). Drawing on data from seven waves of the China General Social Survey (CGSS), we find that, although the overall effect of higher education decreases on alleviating intergenerational persistence after CHEE, undergraduate or postgraduate education can still significantly promote rural intergenerational mobility in terms of occupational-socioeconomic status. However, higher education appears to have changed from assisting social mobility to advancing intergenerational persistence in urban areas after CHEE. The propensity score matching method was used to mitigate sample selection bias, and all the findings were validated by several robustness checks, including placebo and Oster's (2019) omitted-variable tests.
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| 6 |
ID:
187866
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| Summary/Abstract |
The urbanization of China has been accompanied by large-scale state-led relocation (SLR) programs. This paper studies the effects of urban SLR on labor market participation. With three waves of China Household Finance Survey (CHFS), we find that urban SLR reduces labor market participation, on both the extensive margin and the intensive margin. The reduction is stronger for females, and there is some substitute effect between husbands and wives. The reduction is also stronger for individuals who are elder and less educated, and who choose lump sums of monetary compensation. Finally, we find no evidence that urban SLR experience stimulates business creation.
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| 7 |
ID:
187864
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| Summary/Abstract |
This paper investigates the impact of China's export expansion during 2000–2007 on the local intergenerational education mobility. We construct prefecture-level export shocks, by exploiting variations in national cross-industry export changes and cross-prefecture industrial employment. Empirical results suggest that prefectures experiencing larger export shocks are more likely to have higher intergenerational education mobility. The baseline results stand when we use alternative measures for educational outcomes, consider the migration situations, or include more controls. Using the intergenerational mobility framework proposed by Becker et al. (2018), we explain and empirically test how income effect and substitution effect of export expansions influence education mobility. The mechanism testing suggests that the income effect is the dominant force underlying the results.
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| 8 |
ID:
187847
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| Summary/Abstract |
Employment-protection legislation (EPL) is known to reduce the unemployment risk of workers and employees and implicitly raises the costs of labor as a factor of production, in particular, the adjustment costs for that factor. Using firm-level accounting data and matched transaction-level trade data, the paper documents that firms responded to the inception of a new labor contract law as accepted by the National People's Congress of China in mid-2007 not only by adjusting their labor demand but also in terms of other adjustments: they raised the capital intensity of production and increased the quality of their output. The paper provides evidence that such changes and adjustments were particularly strong for firms in ex ante labor-intensive sectors and for private firms which were less shielded from adverse competitive effects than state-owned ones.
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| 9 |
ID:
187862
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| Summary/Abstract |
Over the past several decades, the returns to college education have steadily increased in many countries of the world despite an increased supply of college graduates. In this paper, using local-labor market data on the composition of the labor force combined with detailed firm-level data covering the period of a large-scale expansion of college enrollment in China, we seek to identify within-firm adjustments to labor market changes. The empirical work is guided by a model in which there are two types of production technologies, characterized by two different types of capitals, one skill-biased and the other labor-biased. The empirical results, consistent with the model and the observed trends in schooling and rates of return, indicate that there were significant adjustments in capital and R&D within-firms in response to an enlarged college-educated labor force.
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| 10 |
ID:
187848
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| Summary/Abstract |
Understanding the carbon implications of mega sporting events (MSEs) is critical for the hosting country or city, if they are to tackle climate change challenges. Taking the case of the 2014 Nanjing Youth Olympics (NYO), this study examines the impacts on the host's local carbon emissions during the ‘preparatory-hosting-after’ stages of a MSE. By adopting a synthetic control method (SCM) and logarithmic mean divisia index (LMDI) decomposition, the following findings are reached: (1) From 2010, when the city of Nanjing announced the decision to bid to host the NYO, the NYO increased the carbon emissions of Jiangsu (the province to which Nanjing belongs) in every year from 2010 to 2019. The total increase in the emissions caused by the NYO was approximately 584.63 million tons. That figure is 1.65 times the total carbon emissions of the United Kingdom in 2018. (2) The annual amount of increased emissions also rose during the preparatory and post stages of the NYO, but the amount of increased emissions during the hosting year was relatively lower, at 53.36 million tons. (3) The NYO improved the energy intensity of the industrial sector, and thereby partially decreased local carbon emissions. Conversely, the NYO induced continuous impacts on local per capita output, the energy intensity of the transportation sector, the scale and energy structure of the industrial sector, and thus promoted emissions, even after the games.
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| 11 |
ID:
187854
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| Summary/Abstract |
National energy consumption data are typically adjusted upward and provincial revision downward based on the Third Economic Census, thus substantially reducing energy statistical discrepancy between China and its provinces. Examining revision effects can facilitate better understanding whether and how the revision process eliminated the fundamental roots of the discrepancy. Through multiple index decomposition methods, this study traced the overall discrepancy to raw coal consumption by energy source, coal washing by transforming process and industrial consumption by economic sector. The reduction of the discrepancy was primarily based on improvements in the data consistency for raw coal, including the input by coal washing and industrial raw coal consumption. At provincial level, unexpected operations were detected during benchmark revisions, particularly inner-provincial inconsistency and inter-provincial incoordination. We conclude that the data discrepancy was institutionally rooted and cannot be solved by benchmark revision alone. Shifting the statistical system from a hierarchical regime to a more centralized one, which would allow greater coordination during energy data accounting and revisions, can help resolve this issue fundamentally.
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| 12 |
ID:
187858
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| Summary/Abstract |
This study evaluates the effects of China's 2014 and 2015 accelerated depreciation policies on the relative demand of firms for skilled labor. We develop a simple model to explore how the policies affect the relative demand of firms for skilled labor and illustrate the roles of financing constraints and tax compliance in mediating the policy effects. We then employ a firm-level dataset from China's A-share listed companies and use a quasi-experimental design to examine the model predictions. We find that the policies significantly increase the relative demand of firms for skilled labor. The channels underlying the policy effects are that the policies generate additional cash flow for firms, stimulate investment and, thus, raise the demand of firms for skilled labor with the presence of capital–skill complementarity. We also find that the positive effects of the policies on the relative demand for skilled labor are primarily significant for firms with strong financing constraints and high tax compliance. Moreover, we document the positive effects of the policies on R&D investment, firm value added, productivity, workers' benefits, and corporate social responsibility performance, which further corroborate our main results.
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| 13 |
ID:
187867
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| Summary/Abstract |
We consider a model of network interactions where the outcome of a unit depends on the outcomes of the connected units. We determine the key network link, i.e., the network link whose removal results in the largest reduction in the aggregate outcomes, and examine a measure that quantifies the contribution of a network link to the aggregate outcomes. We provide an example examining the spread of Covid-19 in China. Travel restrictions were imposed to limit the spread of infectious diseases. As uniform restrictions can be inefficient and incur unnecessarily high costs, we examine the design of restrictions that target specific travel routes. Our approach may be generalized to multiple countries to guide policies during epidemics ranging from ex ante route-specific travel restrictions to ex post health measures based on travel histories, and from the initial travel restrictions to the phased reopening.
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| 14 |
ID:
187859
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| Summary/Abstract |
The 1959–1961 Great Famine in China was one of the most devastating events in history and had long-term effects on economic behavior. This paper seeks to provide a novel explanation for heterogeneous food waste behaviors across age cohorts from the perspective of differing famine experiences. Based on 2004–2009 China Health and Nutrition Survey (CHNS) data, this paper constructs a difference-in-difference estimator to explore the long-term effects of the early-life famine experience of the household head on household food waste behavior in later life. The results indicate that the more serious famine that the household head experienced in early life was, the less wasted food and lost calories per capita there were, especially for adolescence during the famine. The mechanism analysis shows that households whose heads experienced the 1959–1961 Great Famine in early life tend to save more than those whose head did not. The findings contribute to a better understanding of the formation of preference and the variation in household food waste behaviors across age cohorts.
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| 15 |
ID:
187865
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| Summary/Abstract |
This paper studies the effects of the oil supply news shock on the Chinese economy using a novel approach as newly proposed in Känzig (2021). Specifically, we use the changes of West Texas Intermediate oil futures prices around OPEC meeting announcements as a high-frequency instrument in a structural VAR model to identify the oil supply news shock. Our results suggest that the Chinese domestic economy is not affected significantly by the shock in terms of industrial production and CPI, two important macroeconomic indicators. However, due to the global features of the international trade, China's exchange rate and trade balance respond to the shock.
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| 16 |
ID:
187853
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| Summary/Abstract |
While charitable donations help to raise funds and contribute to pandemic prevention and control, there are many unanswered questions about how people make such donation decisions, especially in countries like China where charitable donations have played an increasing role in recent years. This study contributes to the literature by assessing the potential impacts of Chinese netizens' experience with the 2002 severe acute respiratory syndrome (SARS) epidemic on their willingness to donate for COVID-19 pandemic prevention and control. Specifically, this study applies a difference-in-differences (DID) model to a dataset collected from a nationwide survey to examine how individuals' exposure to the SARS epidemic affects their willingness to donate to alleviate the COVID-19 pandemic. The results suggest that individuals' SARS epidemic experiences in their early lives, especially during the “childhood-adolescence” period, had a lasting and far-reaching impact on their willingness to donate toward COVID-19 pandemic prevention and control. Also, the impacts were likely heterogeneous by such sociodemographic factors as educational background, health status, and income level. The empirical findings highlight the importance of considering early-life experiences in developing and implementing epidemic prevention and control policies. While the SARS experience likely affected Chinese netizens' willingness to donate toward COVID-19 pandemic prevention and control, lessons learned from both the SARS epidemic and COVID-19 pandemic could be used to develop more effective public health education and prevention programs as well as to increase public donations for future pandemic prevention and control.
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| 17 |
ID:
187861
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| Summary/Abstract |
This paper utilizes data from the China Household Finance Survey 2011 to study peer effects in housing demand in rural China. We find that focal households' housing consumption is heavily influenced by peer households' housing consumption. Evidence from placebo tests, IV estimates and robust tests suggests that the relationship is causal. In addition, we show that status seeking and social learning play important roles in determining peer effects in the demand for rural houses. Finally, we explore the heterogeneity in peer effects and determine that the leading mechanism is status seeking.
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| 18 |
ID:
187856
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| Summary/Abstract |
Previous studies have shown that Chinese citizens generally are optimistic about their economic opportunities and tolerant of the high levels of inequality in their society. This paper conducts a random survey experiment to examine whether the established views on fairness and inequality change after the respondents receive the general information on wealth concentration or the customized information on their household income ranking. We find that both types of information lead respondents to view society as less fair than they had initially believed. The information on the wealth concentration also increases public concern about social inequality. Nevertheless, neither information offered to the respondents make them think that government should play a more significant role in reducing inequality. This lack of demand for government intervention may be partially explained by a lower level of trust in the local government induced by the two information treatments.
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| 19 |
ID:
187855
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| Summary/Abstract |
This study examines academic resource (mis)allocation in China by focusing on the correlation between publication in leading economics journals in China and researchers' subsequent academic performance. Our findings demonstrate that researchers with a track record of publication in the most exclusive academic outlets publish more papers in high quality journals, with an average 12.4% increase, as they move up the career ladder, obtain more external grants, and acquire more executive powers. As the observable channels fail to explain most of the publication persistence, the increase in the research productivity along a researcher's career trajectory is attributed to other mechanisms that are suggestive of resource misallocation, including a reputation effect gained from initial visibility in leading academic outlets and non-academic channels facilitated by better access to social resources, among other mechanisms. Our findings depict some intriguing observations regarding the ecosystem of a prominent subject in Chinese academia and reveal tentative evidence on how structural changes, such as fostering a more open and international research environment, could benefit early career researchers.
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| 20 |
ID:
187844
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| Summary/Abstract |
This study investigates how tax enforcement affects corporate employment in China. We utilize the merger of the State Tax Bureau and Local Tax Bureaus as a quasi-natural experiment and adopt a difference-in-differences framework to identify causality. The results show that tougher tax enforcement has a significant and negative effect on corporate employment and that this effect is more pronounced for firms with higher labor intensity, greater financial constraints, more severe labor market frictions, a lower initial tax rate, lower tax transfer ability, and greater credit market imperfections. Further, the mechanism tests demonstrate that tougher tax enforcement leads to increases in the effective income tax rate, cash holdings, and the cash flow sensitivity of real investment but decreases in accounts receivable and dividend payments. These results are consistent with the liquidity constraints channel. In addition, we exclude several alternative explanations and conduct a series of robustness checks. Overall, our findings indicate that corporate tax enforcement has large effects on the local labor demand, which provides some useful insights for local governments to stabilize employment during the COVID-19 pandemic.
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