China Economic Quarterly International最新文献

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Does judicial improvement promote corporate trade credit financing? Evidence from the establishment of circuit courts in China 司法制度的完善是否促进了企业贸易信用融资？来自中国设立巡回法院的证据

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-12-01 DOI: 10.1016/j.ceqi.2025.12.001

Lu Yao , Yifei Liang , Mengde Liu

The establishment of circuit courts is an important measure to enhance judicial impartiality and independence, and thus improve the local judicial environment. This paper takes the establishment of circuit court as a quasi-natural experiment of judicial improvement, and empirically examines the impact of judicial improvement on trade credit financing by using a staggered difference-in-differences (DID) model with Chinese firms from 2009 to 2023 as the research sample. It is found that the trade credit financing of enterprises after the establishment of the circuit court increases significantly. The mechanism test indicates that improving local judicial efficiency, alleviating local protectionism and reducing corporate defaults are important channels through which the establishment of circuit courts promotes corporate trade credit financing. Heterogeneity tests indicate that the positive effect of circuit court establishment on trade credit financing is systematically stronger for a state-owned enterprises, firms without political connections, and those exhibiting higher gross profit margins, smaller size, or weaker pre-existing financing capacity. This paper provides empirical evidence that the legal environment improvement is conductive to the financial market development.

设立巡回法院是增强司法公正独立、改善地方司法环境的重要举措。本文将设立巡回法院作为司法改进的准自然实验，以2009 - 2023年中国企业为研究样本，采用交错差中差（DID）模型实证检验司法改进对贸易信贷融资的影响。研究发现，巡回法院成立后，企业的贸易信用融资明显增加。机制检验表明，提高地方司法效率、缓解地方保护主义、减少企业违约是设立巡回法院促进企业贸易信用融资的重要渠道。异质性检验表明，对于国有企业、没有政治关系的企业、毛利率较高、规模较小或原有融资能力较弱的企业，设立巡回法院对贸易信贷融资的积极影响系统性更强。本文提供了法律环境改善有利于金融市场发展的实证证据。

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引用次数: 0

Does distance promote consumption: The role of city shape 距离促进消费：城市形态的作用

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-12-01 DOI: 10.1016/j.ceqi.2025.12.002

Chunzhi Li , Wenhan Liu

Recently, studies have emphasized the consumption amenities of cities, which are as important as city morphology. This study provides empirical evidence that addresses questions regarding the impact of city shape on consumption in China. This study uses night-light data to quantify the compactness of city shapes of Chinese cities. Four indices of city shape were calculated to reflect the different morphological properties of each city. IVs are constructed to mitigate endogeneity problems derived from time-varying historical features and non-time-varying geographical characteristics. The results indicate that higher compactness induces higher consumption by increasing intra-city travel frequency and disposable income. Transforming the samples and empirical equations did not affect the robustness of the results. Heterogeneity exists among households, with high-income households and households with young heads being less sensitive to changes in city-shape compactness. City shape does not affect marginal propensity to consume. This study emphasizes the importance of maintaining a compact city shape, and policies improving the intra-city transportation infrastructure can alleviate the negative consumption impact of non-compact city shapes.

近年来，对城市消费便利设施的研究越来越受到重视，认为城市消费便利设施与城市形态一样重要。本研究为解决中国城市形态对消费的影响问题提供了实证证据。本研究使用夜间灯光数据来量化中国城市形状的紧凑性。计算了城市形态的四个指标，以反映每个城市不同的形态特征。构建虚拟货币是为了缓解时变历史特征和非时变地理特征带来的内生性问题。研究结果表明，紧凑度越高，城市内部出行频率越高，居民可支配收入越高，消费水平越高。变换样本和经验方程不影响结果的稳健性。家庭之间存在异质性，高收入家庭和年轻户主家庭对城市形状紧凑度的变化不太敏感。城市形态不影响边际消费倾向。本研究强调了保持紧凑型城市形态的重要性，改善城市内部交通基础设施的政策可以缓解非紧凑型城市形态对消费的负面影响。

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引用次数: 0

Institutional opening-up promotes local enterprises’ innovation: From the perspective of standards opening-up 制度开放促进地方企业创新——基于标准开放的视角

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-09-01 DOI: 10.1016/j.ceqi.2025.11.001

Zhihao Yang , Junjie Hong

The participation of foreign-invested enterprises in the formulation of national standards is taken as an opportunity to identify standards opening-up, and the impact of standards opening-up on local firms' innovation is examined. It is found that standards opening-up promotes local firms' innovation, works through collaboration between Chinese and foreign firms, market competition, and information transmission mechanism, and influences upstream and downstream innovation along the industrial chain. In addition, standards opening-up promotes firms’ product upgrading and exporting, standards harmonization, and foreign investment stabilization. These findings explain the significance of steady expansion of institutional opening-up.

以外商投资企业参与国家标准制定为契机，识别标准开放，考察标准开放对本土企业创新的影响。研究发现，标准开放促进了本土企业的创新，通过中外企业合作、市场竞争和信息传递机制发挥作用，并对产业链上下游创新产生影响。此外，标准开放促进了企业产品升级和出口，促进了标准的协调和外商投资的稳定。这些发现说明了稳步扩大制度开放的重要意义。

引用次数: 0

Impact of maternity leave policy reform on enterprise labor employment: Evidence from China matched employer-employee longitudinal survey data 产假政策改革对企业劳动力就业的影响：来自中国匹配雇主-雇员纵向调查数据的证据

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-09-01 DOI: 10.1016/j.ceqi.2025.10.001

Hong Liu , Meng Jiao , Chuliang Luo

This study uses the China Matched Employer-Employee Longitudinal Survey data to evaluate the impact of maternity leave reform on enterprise labor employment. The results show that the reform does not affect overall labor employment but reduces the proportion of female employees, increasing labor costs for firms with female employees who have taken maternity leave. Mechanism analysis indicates that the reform leads to gender discrimination and cost-shifting effects, negatively impacting the formal employment, promotion, and wages of women of childbearing age, while increasing substitute labor costs for firms. Explicitly specifying that maternity leave allowances be paid by the maternity insurance fund helps alleviate these adverse effects.

本研究使用中国匹配雇主-雇员纵向调查数据来评估产假改革对企业劳动力就业的影响。结果表明，改革对整体劳动就业没有影响，但降低了女性员工的比例，增加了女性员工休产假的企业的劳动力成本。机制分析表明，改革导致性别歧视和成本转移效应，对育龄妇女的正式就业、晋升和工资产生负面影响，同时增加了企业的替代劳动力成本。明确规定产假津贴由生育保险基金支付，有助于减轻这些不利影响。

引用次数: 0

Administrative monopoly regulation and employee wages: Evidence from Fair competition review system in China 行政垄断规制与员工工资：来自中国公平竞争审查制度的证据

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-09-01 DOI: 10.1016/j.ceqi.2025.10.002

Pengcheng Jiang , Yujia Niu

Unlike previous studies examining how monopoly regulation policies affect enterprise behavior, this study uses the implementation of China's Fair Competition Review System as a quasi-natural experiment. This study uses data from non-financial listed enterprises and employs a difference-in-differences model to explore the impact and mechanism of administrative monopoly regulation on employee wages. The results show that administrative monopoly regulation can reduce average employee wages in administrative monopoly enterprises. This negative effect is more pronounced in firms with lower financing constraints and higher operating profits and in provinces with stronger government intervention. The economic mechanism test results indicate that reducing economic rent, curbing the labor scale, and increasing financing constraints are important mechanisms through which administrative monopoly regulation curbs excessively high compensation in these enterprises. Finally, this study finds that administrative monopoly regulation helps narrow the internal compensation gap of administrative monopoly enterprises.

与以往研究垄断监管政策如何影响企业行为不同，本研究将中国公平竞争审查制度的实施作为准自然实验。本研究采用非金融类上市企业数据，采用差异中差异模型，探讨行政垄断规制对员工工资的影响及机制。研究结果表明，行政垄断规制会降低行政垄断企业职工平均工资。在融资约束较低、营业利润较高的企业和政府干预力度较大的省份，这种负面影响更为明显。经济机制检验结果表明，降低经济租金、抑制劳动力规模、增加融资约束是行政垄断规制抑制中小企业薪酬过高的重要机制。最后，本研究发现行政垄断规制有助于缩小行政垄断企业的内部薪酬差距。

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引用次数: 0

Uncertainty shocks, transnational innovation collaboration, and Chinese firm innovation 不确定性冲击、跨国创新合作与中国企业创新

IF 2.7 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-09-01 DOI: 10.1016/j.ceqi.2025.11.002

Liu Canlei , Jiang Ruixue , Jiang Li

Exploiting the quasi-natural experiment of the U.S.-China trade friction, we empirically examine the impact of uncertainty shocks on Chinese firms' overseas patent applications and transnational innovation collaboration. We find that uncertainty shocks suppress Chinese firms’ overseas innovation performance, resulting in a disruption effect on innovation collaboration with the U.S., but a diversion effect on collaborations with other countries, which is particularly evident in U.S. innovation partners, Europe, Association of South East Asian Nations (ASEAN), Japan, and South Korea. Heterogeneity analysis shows that these shocks disproportionately affect high-tech industries, industries with strong influence, and those with close U.S.-China innovation linkages.

利用中美贸易摩擦的准自然实验，实证研究了不确定性冲击对中国企业海外专利申请和跨国创新合作的影响。研究发现，不确定性冲击抑制了中国企业的海外创新绩效，对与美国的创新合作产生了干扰效应，但对与其他国家的创新合作产生了转移效应，这在美国创新伙伴、欧洲、东盟、日本和韩国尤为明显。异质性分析表明，这些冲击对高科技产业、具有强大影响力的产业以及与中美创新联系密切的产业的影响不成比例。

引用次数: 0

Changes in labor share of China: A micro-level anatomy 中国劳动收入占比的变化：微观剖析

IF 1.9 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-06-01 DOI: 10.1016/j.ceqi.2025.05.002

Junsen Zhang, Qi Yu, Kang Zhou

Using comprehensive firm-level databases, we study the micro-basis of different trends in aggregate and individual labor shares in China's manufacturing sector during 1998–2016. We find that (1) redistributing value added towards the bottom of labor share distribution causes the decline of aggregate labor share; (2) the redistribution effect is driven by firms gradually increasing market share and reducing labor share; and (3) state-owned enterprises contribute significantly to the changes in aggregate labor share. The analysis of this paper enhances the understanding of the changes in China's labor share from the perspective of dynamic change of micro-firms.

本文利用企业层面的综合数据库，研究了1998-2016年中国制造业总劳动份额和个体劳动份额不同趋势的微观基础。研究发现：(1)增加价值向劳动份额分配底部再分配导致总劳动份额下降；(2)再分配效应是由企业逐渐提高市场份额和降低劳动力份额驱动的；(3)国有企业对总劳动份额的变化贡献显著。本文的分析有助于我们从微观企业动态变化的视角来理解中国劳动收入占比的变化。

引用次数: 0

Age discrimination causes Unemployment: Evidence from the “35-year-Old phenomenon” in China 年龄歧视导致失业：来自中国“35岁现象”的证据

IF 1.9 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-06-01 DOI: 10.1016/j.ceqi.2025.07.001

Wenlian Lin

Age discrimination in the labor market is a global issue, and in China, it becomes a pressing concern, particularly in the context of so-called “35-year-old crisis.” Departing from the literature that largely relies on resume experiments to identify age discrimination during hiring, I focus on China's labor market and use the 2015 census data to construct a regression discontinuity design for identifying age discrimination and its causal impact on unemployment. The results show that dismissal rates rise significantly immediately after workers exceed the age of 35, even after controlling for productivity-related factors. This rise is driven by negative age stereotypes held by employers and anchoring biases in their employment decisions, but with notable variations across regions, individuals, and time periods.

劳动力市场的年龄歧视是一个全球性问题，在中国，它成为一个紧迫的问题，特别是在所谓的“35岁危机”的背景下。与以往主要依靠简历实验来识别招聘过程中的年龄歧视的文献不同，我以中国劳动力市场为研究对象，利用2015年人口普查数据构建了一个回归不连续设计来识别年龄歧视及其对失业的因果影响。结果显示，即使在控制了与生产率相关的因素后，员工超过35岁后，解雇率也会立即显著上升。这一增长是由雇主对年龄的负面刻板印象和他们在就业决策中的锚定偏见推动的，但在地区、个人和时期之间存在显著差异。

引用次数: 0

Air pollution during pregnancy damages the newborns’ health: Evidence from Wuhan Birth Cohort Studies 妊娠期空气污染损害新生儿健康：来自武汉出生队列研究的证据

IF 1.9 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-06-01 DOI: 10.1016/j.ceqi.2025.06.001

Zhilei Shi , Xiaoqiang Zhou

We examine the causal impact of air pollution during pregnancy on the early health of newborns using daily data from environmental monitoring stations in Wuhan and data from the Wuhan Birth Cohort Studies (WBCS). Results show that air pollution during pregnancy significantly damages the early health of newborns, and this effect intensifies continuously with the increase in air pollution levels. Compared with late pregnancy, air pollution has a greater impact on the newborn in early and mid-pregnancy. The air pollution during pregnancy has a greater impact on children born to women with low socioeconomic status and advanced age. Mechanism analysis suggests that air pollution increases the probability of perinatal complications and reduces the number of prenatal visits.

我们利用武汉环境监测站的每日数据和武汉出生队列研究（WBCS）的数据，研究了怀孕期间空气污染对新生儿早期健康的因果影响。结果表明，孕期空气污染对新生儿早期健康有显著损害，且随着空气污染程度的增加，这种影响不断加剧。与妊娠后期相比，空气污染对妊娠早期和中期新生儿的影响更大。怀孕期间的空气污染对社会经济地位低、年龄大的妇女所生的孩子影响更大。机制分析表明，空气污染增加了围产期并发症的发生概率，减少了产前就诊次数。

引用次数: 0

Inequality of opportunity and fertility intentions 机会不平等和生育意愿

IF 1.9 Q2 ECONOMICS

China Economic Quarterly International

Pub Date : 2025-06-01 DOI: 10.1016/j.ceqi.2025.05.003

Bianjing Ma , Jiahao Wu , Yu Yu

Today's parents prioritize their children's future opportunities and well-being over the costs and benefits of child-rearing. Inequality of opportunity (IO) worsens children's developmental prospects and reduces fertility intentions. Using nationally representative data from China, we show that IO profoundly undermines parents' motivation to have children across social groups. Mechanism analyses show that residents of areas with high IO have less confidence in the future and postpone their first marriages and first children. Moreover, facing IO-induced depreciation of educational attainment, to avoid a decline in educational attainment or status, parents instead increase investment in children's education to improve their skills and quality, thereby suppressing fertility intentions. This study underscores that addressing IO is not merely a matter of equity but a demographic necessity.

D63 J13 D31.

今天的父母优先考虑孩子未来的机会和幸福，而不是抚养孩子的成本和收益。机会不平等恶化了儿童的发展前景，降低了生育意愿。通过使用中国具有全国代表性的数据，我们发现，在整个社会群体中，IO严重破坏了父母生孩子的动机。机制分析表明，高IO地区的居民对未来的信心较低，他们推迟了初婚和第一个孩子。此外，面对io导致的受教育程度贬值，为了避免受教育程度或地位的下降，父母反而增加对子女教育的投资，以提高子女的技能和素质，从而抑制生育意愿。这项研究强调，解决IO问题不仅是一个公平问题，而且是人口需求问题。D63 j13 d31。

引用次数: 0

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