Pub Date : 2024-10-15DOI: 10.1016/j.ijindorg.2024.103113
Since 2021, an increasing number of movie complex firms in Japan have eliminated long-standing gender-based price discrimination by replacing discounts for only women with discounts for all customers. This study examines the impact of this discount change on movie demand. Using theater-level visit data by gender and a difference-in-differences strategy, I find increased movie demand for both males and females, indicating inter-gender interdependence of movie demand. A profit analysis shows that the average movie theater profit remains at the same level as that before the discount adjustment. Lastly, combining the difference-in-differences estimates with a random utility model reveals that joint movie consumption enhances paired customers' movie-watching utility.
{"title":"The effects of removing gender-based price discrimination on movie demand: Estimates using smartphone location data","authors":"","doi":"10.1016/j.ijindorg.2024.103113","DOIUrl":"10.1016/j.ijindorg.2024.103113","url":null,"abstract":"<div><div>Since 2021, an increasing number of movie complex firms in Japan have eliminated long-standing gender-based price discrimination by replacing discounts for only women with discounts for all customers. This study examines the impact of this discount change on movie demand. Using theater-level visit data by gender and a difference-in-differences strategy, I find increased movie demand for both males and females, indicating inter-gender interdependence of movie demand. A profit analysis shows that the average movie theater profit remains at the same level as that before the discount adjustment. Lastly, combining the difference-in-differences estimates with a random utility model reveals that joint movie consumption enhances paired customers' movie-watching utility.</div></div>","PeriodicalId":48127,"journal":{"name":"International Journal of Industrial Organization","volume":null,"pages":null},"PeriodicalIF":1.7,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442290","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.cities.2024.105456
Extreme temperature can worsen the sustainability of government finance, and is a public cost that needs to be identified. In this paper, we estimate the impact of high temperatures on spreads of Urban Investment Bond (UIB) by dividing daily mean temperatures obtained from weather stations into ten temperature bins and calculating the number of days in a year that fall into different temperature bins and matching them with China's bond-level data of UIBs. We find that an increase in extreme temperatures results in a significant rise in the yield spreads of UIBs. This is because extreme temperatures weaken the guarantee capacity of local governments as well as increase their demand for financing through UIBs. A series of robustness verify the robustness of the results. In further analysis, we explore the effect of investors' attention, mitigation and adaptation measures, heterogeneity and predicts the long-term impacts of temperature change. This paper enriches the literature on the impacts of climate change on the public sector, on the pricing of municipal bonds, on the impacts of climate change on developing countries, and provides credible policy implications for bond management and fiscal sustainability of local governments.
{"title":"The public cost of extreme climate: Empirical evidence from China's Urban Investment bonds","authors":"","doi":"10.1016/j.cities.2024.105456","DOIUrl":"10.1016/j.cities.2024.105456","url":null,"abstract":"<div><div>Extreme temperature can worsen the sustainability of government finance, and is a public cost that needs to be identified. In this paper, we estimate the impact of high temperatures on spreads of Urban Investment Bond (UIB) by dividing daily mean temperatures obtained from weather stations into ten temperature bins and calculating the number of days in a year that fall into different temperature bins and matching them with China's bond-level data of UIBs. We find that an increase in extreme temperatures results in a significant rise in the yield spreads of UIBs. This is because extreme temperatures weaken the guarantee capacity of local governments as well as increase their demand for financing through UIBs. A series of robustness verify the robustness of the results. In further analysis, we explore the effect of investors' attention, mitigation and adaptation measures, heterogeneity and predicts the long-term impacts of temperature change. This paper enriches the literature on the impacts of climate change on the public sector, on the pricing of municipal bonds, on the impacts of climate change on developing countries, and provides credible policy implications for bond management and fiscal sustainability of local governments.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":null,"pages":null},"PeriodicalIF":6.0,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142433859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.cities.2024.105503
In a time of increasing global competition for sport mega events (SME), evaluating urban legacies becomes crucial, particularly as successes increasingly favor less developed countries. Barcelona stands as one of the best example among host cities, with its legacy remaining a contentious subject. This paper evaluates Olympic-related urban interventions and territorial equality legacies, drawing a comparison between the development models of Barcelona (1992) and Rio de Janeiro (2016). Utilizing five key criteria–Olympic site selection, city public transportation improvement, eviction problems, environmental commitments, and sport mega-event costs–the paper examines Rio's alignment with the successful Barcelona model. Despite procedural similarities, Rio's outcomes raise doubts, particularly regarding territorial equality. The evaluation shows Rio's shortcomings in all five criteria, highlighting the need for a detailed understanding of urban legacies in SMEs. While Rio may have followed Barcelona in form, the paper emphasizes content distinctions, prompting considerations for future urban planning in host cities.
{"title":"Olympics-related urban interventions in Barcelona and in Rio de Janeiro: A look at territorial equality legacies","authors":"","doi":"10.1016/j.cities.2024.105503","DOIUrl":"10.1016/j.cities.2024.105503","url":null,"abstract":"<div><div>In a time of increasing global competition for sport mega events (SME), evaluating urban legacies becomes crucial, particularly as successes increasingly favor less developed countries. Barcelona stands as one of the best example among host cities, with its legacy remaining a contentious subject. This paper evaluates Olympic-related urban interventions and territorial equality legacies, drawing a comparison between the development models of Barcelona (1992) and Rio de Janeiro (2016). Utilizing five key criteria–Olympic site selection, city public transportation improvement, eviction problems, environmental commitments, and sport mega-event costs–the paper examines Rio's alignment with the successful Barcelona model. Despite procedural similarities, Rio's outcomes raise doubts, particularly regarding territorial equality. The evaluation shows Rio's shortcomings in all five criteria, highlighting the need for a detailed understanding of urban legacies in SMEs. While Rio may have followed Barcelona in form, the paper emphasizes content distinctions, prompting considerations for future urban planning in host cities.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":null,"pages":null},"PeriodicalIF":6.0,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142438405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.jimonfin.2024.103211
The extent to which firms differentiate their inflation expectations between one-year and two-year horizons is an important indicator of changes in inflation expectations. Within a monetary policy framework aimed at reducing the inflation rate toward the target band, firms that obtain information from the central bank are more likely to distinguish between these horizons and expect inflation to converge toward the target. Generally, decision-makers do not differentiate between horizons, but when they do, they are more likely to anticipate convergence. Conversely, external advisors often differentiate between horizons and are more likely to expect divergence. The heterogeneity in how inflation expectations are formed—depending on who within the firm sets these expectations, the information they use, and their use of aggregate inflation expectations data—suggests a need for customized monetary policy communication.
{"title":"Heterogeneous inflation expectations: A call for customized monetary policy communication?","authors":"","doi":"10.1016/j.jimonfin.2024.103211","DOIUrl":"10.1016/j.jimonfin.2024.103211","url":null,"abstract":"<div><div>The extent to which firms differentiate their inflation expectations between one-year and two-year horizons is an important indicator of changes in inflation expectations. Within a monetary policy framework aimed at reducing the inflation rate toward the target band, firms that obtain information from the central bank are more likely to distinguish between these horizons and expect inflation to converge toward the target. Generally, decision-makers do not differentiate between horizons, but when they do, they are more likely to anticipate convergence. Conversely, external advisors often differentiate between horizons and are more likely to expect divergence. The heterogeneity in how inflation expectations are formed—depending on who within the firm sets these expectations, the information they use, and their use of aggregate inflation expectations data—suggests a need for customized monetary policy communication.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142441856","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.jimonfin.2024.103208
We study whether research and development (R&D)-intensive Chinese firms were more resilient during the 2018–2019 U.S.-China trade war. Using an event study, we confirm that (unsurprisingly) Chinese exporting firms that were most affected by the new U.S. tariffs suffered larger valuation declines than other firms. However, among those most affected, those that were R&D intensive suffered significantly less severe declines. We also identify a channel that allowed R&D-intensive firms to better absorb the trade shock: their production efficiency improved amidst the trade war, due to enhanced operational efficiency and lower operating costs. Furthermore, in response to the trade disruptions, numerous R&D-intensive Chinese companies acquired U.S. firms.
{"title":"Are R&D-intensive firms more resilient to trade shocks? Evidence from the U.S.–China trade war","authors":"","doi":"10.1016/j.jimonfin.2024.103208","DOIUrl":"10.1016/j.jimonfin.2024.103208","url":null,"abstract":"<div><div>We study whether research and development (R&D)-intensive Chinese firms were more resilient during the 2018–2019 U.S.-China trade war. Using an event study, we confirm that (unsurprisingly) Chinese exporting firms that were most affected by the new U.S. tariffs suffered larger valuation declines than other firms. However, among those most affected, those that were R&D intensive suffered significantly less severe declines. We also identify a channel that allowed R&D-intensive firms to better absorb the trade shock: their production efficiency improved amidst the trade war, due to enhanced operational efficiency and lower operating costs. Furthermore, in response to the trade disruptions, numerous R&D-intensive Chinese companies acquired U.S. firms.</div></div>","PeriodicalId":48331,"journal":{"name":"Journal of International Money and Finance","volume":null,"pages":null},"PeriodicalIF":2.8,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142441859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.cities.2024.105477
Understanding the influence of the world around us on our behaviors and cognitions is a vital step in understanding people's individual and collective experiences with positive peace (Lindgaard, 2017; Lindsay et al., 2022). This paper begins as one of the first forays into weaving the theories and praxis in Urban Development and Design with the theories and praxis of Peace and Conflict Studies (PACS). As such, this paper is written for scholars and practitioners of both fields. The topics of this paper have been drawn from the research of the author on another project where he tested the saliency of one of the indicators of the peace poles, connectivity, and conducted interviews with social purpose organizations conducting their own research and community development in the geographical research area. The first section of this paper begins by outlining the foundational history, theory and principles of the evolution of space, place, and why they matter in cities. The next section grounds the understanding of spatiality and its implications on positive peace within the frameworks of urban planning and eco-urbanity. The following section provides possible pathways forward and next steps utilizing tools in urban development, civil society, and within the PACS fields. This is done to assist communities in ways aligned with the ethical humanistic foundations within urban development and PACS, including the tools and practices of placemaking, deep maps, and the spatial peace pole's quantified spatial peace assessment (Lindsay et al., 2022). The last section concludes with a summarization of these concepts and practices with their implications on Peace and Conflict Studies and the wider communities engaged in urban and economic development, as well as conflict resolution and political analysis.
{"title":"Spatial peace","authors":"","doi":"10.1016/j.cities.2024.105477","DOIUrl":"10.1016/j.cities.2024.105477","url":null,"abstract":"<div><div>Understanding the influence of the world around us on our behaviors and cognitions is a vital step in understanding people's individual and collective experiences with positive peace (Lindgaard, 2017; Lindsay et al., 2022). This paper begins as one of the first forays into weaving the theories and praxis in Urban Development and Design with the theories and praxis of Peace and Conflict Studies (PACS). As such, this paper is written for scholars and practitioners of both fields. The topics of this paper have been drawn from the research of the author on another project where he tested the saliency of one of the indicators of the peace poles, connectivity, and conducted interviews with social purpose organizations conducting their own research and community development in the geographical research area. The first section of this paper begins by outlining the foundational history, theory and principles of the evolution of space, place, and why they matter in cities. The next section grounds the understanding of spatiality and its implications on positive peace within the frameworks of urban planning and eco-urbanity. The following section provides possible pathways forward and next steps utilizing tools in urban development, civil society, and within the PACS fields. This is done to assist communities in ways aligned with the ethical humanistic foundations within urban development and PACS, including the tools and practices of placemaking, deep maps, and the spatial peace pole's quantified spatial peace assessment (Lindsay et al., 2022). The last section concludes with a summarization of these concepts and practices with their implications on Peace and Conflict Studies and the wider communities engaged in urban and economic development, as well as conflict resolution and political analysis.</div></div>","PeriodicalId":48405,"journal":{"name":"Cities","volume":null,"pages":null},"PeriodicalIF":6.0,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442249","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1007/s11187-024-00975-3
Roberto Moncada, Francesco Carbonero, Aldo Geuna, Luigi Riso
We study the effect of the diffusion of digitalization, measured as the level of expenditures in digital technologies, on labor demand within the manufacturing sector. We exploit unique information from a focus study of the quarterly survey of Unioncamere Piemonte (one of Italy’s most industrialized and technologically advanced regions) to measure the extent to which planned digital technologies investments impact hiring propensity, differentiated by educational level. Based on a representative sample of non-micro firms, our findings suggest a positive relationship between digital investments and the probability of hiring highly educated workers, mainly driven by the demand for individuals with a post-secondary technical institute (ITS) diploma and post-MSc qualifications or a PhD in STEM fields. Conversely, we also find that digital investments negatively influence the probability of hiring low-educated individuals, primarily referring to the demand for workers with secondary education. Our results reveal firms’ human capital upscaling dynamics powered by digitalization processes.
{"title":"Digital adoption and human capital upscaling: a regional study of the manufacturing sector","authors":"Roberto Moncada, Francesco Carbonero, Aldo Geuna, Luigi Riso","doi":"10.1007/s11187-024-00975-3","DOIUrl":"https://doi.org/10.1007/s11187-024-00975-3","url":null,"abstract":"<p>We study the effect of the diffusion of digitalization, measured as the level of expenditures in digital technologies, on labor demand within the manufacturing sector. We exploit unique information from a focus study of the quarterly survey of Unioncamere Piemonte (one of Italy’s most industrialized and technologically advanced regions) to measure the extent to which planned digital technologies investments impact hiring propensity, differentiated by educational level. Based on a representative sample of non-micro firms, our findings suggest a positive relationship between digital investments and the probability of hiring highly educated workers, mainly driven by the demand for individuals with a post-secondary technical institute (ITS) diploma and post-MSc qualifications or a PhD in STEM fields. Conversely, we also find that digital investments negatively influence the probability of hiring low-educated individuals, primarily referring to the demand for workers with secondary education. Our results reveal firms’ human capital upscaling dynamics powered by digitalization processes.</p>","PeriodicalId":21803,"journal":{"name":"Small Business Economics","volume":null,"pages":null},"PeriodicalIF":6.4,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142443795","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.resourpol.2024.105354
Resource-rich regions can fall prey to the resource curse, leading to a decline in carbon emissions efficiency (CEE). But amid this challenge, building digital infrastructure offers an opportunity to find solutions that will pave the way for sustainable development. An indicator evaluation system was constructed to measure the level of digital infrastructure (DI) using panel data for 275 Chinese cities from 2010 to 2020. The impact of DI on CEE is validated using several econometric models. As an innovation, the time lag effect and spatial spillover effects are considered in the analysis. The study found that DI significantly improves CEE, and this effect is more effective in central and resource-based cities, but only significant in southern cities, cities with high levels of marketization, and cities with high levels of human capital. Reducing the resource curse and increasing green technological innovation are important transmission pathways, which are considered to be the key role of DI. Further, the third period of lagged DI has the most significant effect, and there is a positive spatial spillover effect of DI on the CEE of neighboring cities, which is most prominent around 600 km. Policymakers are advised to improve the level of construction of DI, focus on digital management, and utilize the role of DI at the optimal time and distance.
{"title":"Exploring the relationship between digital infrastructure and carbon emission efficiency: New insights from the resource curse and green technology innovation in China","authors":"","doi":"10.1016/j.resourpol.2024.105354","DOIUrl":"10.1016/j.resourpol.2024.105354","url":null,"abstract":"<div><div>Resource-rich regions can fall prey to the resource curse, leading to a decline in carbon emissions efficiency (CEE). But amid this challenge, building digital infrastructure offers an opportunity to find solutions that will pave the way for sustainable development. An indicator evaluation system was constructed to measure the level of digital infrastructure (DI) using panel data for 275 Chinese cities from 2010 to 2020. The impact of DI on CEE is validated using several econometric models. As an innovation, the time lag effect and spatial spillover effects are considered in the analysis. The study found that DI significantly improves CEE, and this effect is more effective in central and resource-based cities, but only significant in southern cities, cities with high levels of marketization, and cities with high levels of human capital. Reducing the resource curse and increasing green technological innovation are important transmission pathways, which are considered to be the key role of DI. Further, the third period of lagged DI has the most significant effect, and there is a positive spatial spillover effect of DI on the CEE of neighboring cities, which is most prominent around 600 km. Policymakers are advised to improve the level of construction of DI, focus on digital management, and utilize the role of DI at the optimal time and distance.</div></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":null,"pages":null},"PeriodicalIF":10.2,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142442211","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.eap.2024.10.017
Based on the panel data of 285 cities in China from 2007 to 2019, this paper constructs a theoretical framework to analyze the employment effect of carbon emission trading policy, and quantitatively evaluates the effectiveness, decomposition effect and influence mechanism of carbon emission trading policy on employment based on PSM-DID method. The study shows that the carbon emissions trading policy has a positive impact on the level of urban employment while producing significant environmental governance effects, and that its positive impact on employment in the pilot cities stems from the negative effect of reducing employment destruction rather than from the positive effect of increasing the job-creating effect. Carbon emissions trading policy promotes employment in the pilot cities through structural transformation effects, specifically through the three paths of green technology innovation, energy structure optimization and industrial structure upgrading. At the same time, the impact of the policy on employment varies significantly across cities of different locations, sizes and resource endowments. The study proposes that the construction of the national carbon market should be accelerated, a market-oriented green technology innovation system should be constructed, the optimization of the energy structure and the upgrading of the industrial structure should be promoted, and training in employment skills should be strengthened. The theoretical analysis of this study provides a theoretical basis for the micro-mechanism of carbon emissions trading policy, and the empirical results provide practical reference for the change of employment structure and the high-quality development of employment.
{"title":"Job Destruction or Job Creation?: Evidence from Carbon Emission Trading Policies","authors":"","doi":"10.1016/j.eap.2024.10.017","DOIUrl":"10.1016/j.eap.2024.10.017","url":null,"abstract":"<div><div>Based on the panel data of 285 cities in China from 2007 to 2019, this paper constructs a theoretical framework to analyze the employment effect of carbon emission trading policy, and quantitatively evaluates the effectiveness, decomposition effect and influence mechanism of carbon emission trading policy on employment based on PSM-DID method. The study shows that the carbon emissions trading policy has a positive impact on the level of urban employment while producing significant environmental governance effects, and that its positive impact on employment in the pilot cities stems from the negative effect of reducing employment destruction rather than from the positive effect of increasing the job-creating effect. Carbon emissions trading policy promotes employment in the pilot cities through structural transformation effects, specifically through the three paths of green technology innovation, energy structure optimization and industrial structure upgrading. At the same time, the impact of the policy on employment varies significantly across cities of different locations, sizes and resource endowments. The study proposes that the construction of the national carbon market should be accelerated, a market-oriented green technology innovation system should be constructed, the optimization of the energy structure and the upgrading of the industrial structure should be promoted, and training in employment skills should be strengthened. The theoretical analysis of this study provides a theoretical basis for the micro-mechanism of carbon emissions trading policy, and the empirical results provide practical reference for the change of employment structure and the high-quality development of employment.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142445444","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-10-15DOI: 10.1016/j.eap.2024.10.020
Enhancing the efficacy of China's outward foreign direct investment (COFDI) constitutes a significant avenue for realizing the sustainable development of China's economy. This study analyzes panel data from 63 countries from 2010 to 2021 to create a heterogeneous spatial stochastic frontier model to examine how financial inclusion and industrial robotics in host nations affect COFDI efficiency. The findings are as follows. To begin with, COFDI manifests positive spatial spillover effects across countries. Moreover, from a spatial perspective, financial inclusion diminishes COFDI efficiency, whereas the interaction between financial inclusion and industrial robots increases its efficiency. Industrial robots, thus, counteract the diminishing impact of financial inclusion on COFDI efficiency. Additionally, concerning the heterogeneity of location choice and investment motivation in COFDI, the interaction between financial inclusion and industrial robots in developed economies augments COFDI efficiency as opposed to emerging market economies. Conversely, technology-seeking investment mitigates the adverse effects of financial inclusion on the efficacy of COFDI when juxtaposed with resource-seeking investment. This study provides theoretical insights and practical recommendations for improving the efficiency and guiding the destination selection of COFDI.
{"title":"Influence of financial inclusion and industrial robots on the efficiency of China's OFDI: A heterogeneous spatial stochastic frontier analysis","authors":"","doi":"10.1016/j.eap.2024.10.020","DOIUrl":"10.1016/j.eap.2024.10.020","url":null,"abstract":"<div><div>Enhancing the efficacy of China's outward foreign direct investment (COFDI) constitutes a significant avenue for realizing the sustainable development of China's economy. This study analyzes panel data from 63 countries from 2010 to 2021 to create a heterogeneous spatial stochastic frontier model to examine how financial inclusion and industrial robotics in host nations affect COFDI efficiency. The findings are as follows. To begin with, COFDI manifests positive spatial spillover effects across countries. Moreover, from a spatial perspective, financial inclusion diminishes COFDI efficiency, whereas the interaction between financial inclusion and industrial robots increases its efficiency. Industrial robots, thus, counteract the diminishing impact of financial inclusion on COFDI efficiency. Additionally, concerning the heterogeneity of location choice and investment motivation in COFDI, the interaction between financial inclusion and industrial robots in developed economies augments COFDI efficiency as opposed to emerging market economies. Conversely, technology-seeking investment mitigates the adverse effects of financial inclusion on the efficacy of COFDI when juxtaposed with resource-seeking investment. This study provides theoretical insights and practical recommendations for improving the efficiency and guiding the destination selection of COFDI.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":null,"pages":null},"PeriodicalIF":7.9,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142445447","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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