Research in Economics最新文献

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Unpacking corruption: The role of economic freedom in developing countries 揭露腐败：经济自由在发展中国家的作用

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-02-07 DOI: 10.1016/j.rie.2025.101044

Brandon Parsons

This comprehensive study examines the effects of economic freedom on corruption in a panel of 92 developing countries from 1995 to 2021. The study uses two composite measures of economic freedom: the Fraser Institute and the Heritage Foundation. The study also tests individual subcomponents of each composite economic freedom measure (e.g., regulation and government size). The study finds composite economic freedom measures moderate corruption. The results are robustly tested and consistent across three corruption measures (i.e., ICRG, Transparency International, World Bank), model specifications, and econometric frameworks (e.g., OLS, FE, RE, FGLS, GMM). The study uses the Method of Moment quantile econometric framework to test if there is an uneven effect based on the corruption environment (e.g., low corruption versus high corruption). The study finds economic freedom reduces corruption even in countries with the most rampant corruption, which counters findings from other studies. Economic freedom subcomponent analysis reveals property rights protection and deregulation are particularly effective at reducing corruption. One dimension of economic freedom that can exacerbate corruption is smaller governments, as they may lack the capacity to provide adequate oversight and enforcement of laws and regulations.

这项综合研究考察了1995年至2021年间92个发展中国家的经济自由对腐败的影响。这项研究采用了弗雷泽研究所（Fraser Institute）和美国传统基金会（Heritage Foundation）两种衡量经济自由度的综合指标。该研究还测试了每个综合经济自由指标的个别子成分（例如，监管和政府规模）。研究发现，综合经济自由措施缓和了腐败。结果在三个腐败措施（即ICRG、透明国际、世界银行）、模型规范和计量经济学框架（如OLS、FE、RE、FGLS、GMM）中得到了强有力的测试和一致。本研究使用矩分位数计量经济学框架来检验是否存在基于腐败环境的不均匀效应（例如，低腐败与高腐败）。该研究发现，即使在腐败最猖獗的国家，经济自由也能减少腐败，这与其他研究的结果相反。经济自由子成分分析表明，产权保护和放松管制在减少腐败方面特别有效。经济自由可能加剧腐败的一个方面是政府规模较小，因为它们可能缺乏对法律法规进行充分监督和执行的能力。

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引用次数: 0

Exploring the implications of FOREX restriction policies: Theory and new evidence 探讨外汇限制政策的影响：理论和新证据

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-02-05 DOI: 10.1016/j.rie.2025.101033

Lawrence Ogbeifun , Olatunji Shobande

This paper examines the economic effects of foreign exchange (FOREX) restriction policy in Nigeria, using a new dataset from 2009 to 2019. Using the synthetic control method (SCM), we find that, after the policy implementation, Nigeria’s per capita GDP reduced by an average of $175.72 while inflation increased by 6.3% from 2015 to 2019 compared to the synthetic control countries without such policy. Regarding the restricted items, our results indicate that the policy led to a decrease in the trade value of imported items, except for imported processed vegetables. Furthermore, our analysis emphasizes that while the FOREX restriction policy appears to align with the Central Bank’s objective of reducing the importation of domestically producible items, it also sheds light on the consequential impacts of such policies. The observed decline in GDP per capita and the complex pattern of inflation highlight the need for a sophisticated and adaptable policy strategy. Policymakers should pay close attention to the macroeconomic dynamics and promote stability and growth in the face of changing economic conditions.

本文使用2009年至2019年的新数据集，研究了尼日利亚外汇限制政策的经济影响。使用综合控制方法（SCM），我们发现，与没有实施该政策的综合控制国家相比，2015年至2019年，尼日利亚的人均GDP平均下降了175.72美元，通货膨胀率平均上升了6.3%。对于限制项目，我们的结果表明，该政策导致进口项目的贸易价值下降，但进口加工蔬菜除外。此外，我们的分析强调，虽然外汇限制政策似乎与中央银行减少国内生产项目进口的目标一致，但它也揭示了此类政策的后续影响。观察到的人均国内总产值下降和通货膨胀的复杂格局突出表明需要一项成熟和适应性强的政策战略。政策制定者应密切关注宏观经济动态，在经济形势不断变化的情况下促进稳定和增长。

引用次数: 0

Loss and gain framing to encourage repeated real-effort provision: An experiment 损失和收益框架鼓励重复的实际努力提供：一个实验

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-02-03 DOI: 10.1016/j.rie.2025.101030

Penelope Buckley, Béatrice Roussillon, Sabrina Teyssier

We examine the effects of gain framing and loss framing on small, repetitive efforts with piece-rate payoffs in laboratory experiments. Theoretical predictions, arising from the anticipation of higher reference points under loss framing, suggest an increased effort in that context. However, our results do not support this hypothesis; in fact, a reverse effect is observed among a subset of participants. Our findings also indicate that loss framing tends to increase participants’ stress levels.

我们在实验室实验中研究了增益帧和损失帧对小的、重复的工作和计件率报酬的影响。从损失框架下更高参考点的预期中产生的理论预测表明，在这方面需要加大努力。然而，我们的结果并不支持这一假设；事实上，在一部分参与者中观察到相反的效果。我们的研究结果还表明，损失框架倾向于增加参与者的压力水平。

引用次数: 0

Relative age, college satisfaction, and student perceptions of skills gained 相对年龄，大学满意度和学生对所获得技能的看法

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-02-03 DOI: 10.1016/j.rie.2025.101037

P. Wesley Routon , Jay K. Walker

School starting age policies typically result in academic cohorts where the oldest students are approximately a full year older than their youngest peers. A student’s relative age in their cohort has been shown to have significant effects on a growing list of outcomes, academic and non-academic. On average, relatively older students have been found to perform better in school, particularly during early education. Some evidence exists they continue to fare better in post-college labor markets. Soft skills, satisfaction with education, and collegiate differentials, generally, have received less attention. Using a sample of students from hundreds of U.S. colleges and universities, we estimate the effects of relative age on student satisfaction with higher education and their perceived gains in 13 knowledge and skill categories during undergraduate tenure. College GPAs are also examined. Controlling for other factors, relatively older students report smaller gains in a large number of skill and knowledge categories. In none of the categories available for analysis do they report higher average gains. This does not appear due to academic achievement or involvement, as they also earn similar grades, on average, and report feeling similarly satisfied with their overall collegiate experience and instruction specifically. Thus, while relatively older students earn similar grades and leave college no less satisfied, they perceive to have benefited less from higher education in terms of skill and knowledge gains.

学校的入学年龄政策通常会导致年龄最大的学生比年龄最小的学生大整整一岁。研究表明，学生的相对年龄对越来越多的学术和非学术成果都有显著影响。平均而言，年龄相对较大的学生在学校表现更好，尤其是在早期教育中。一些证据表明，他们在大学毕业后的劳动力市场上继续表现得更好。一般来说，软技能、对教育的满意度和大学差异受到的关注较少。使用来自数百所美国高校的学生样本，我们估计了相对年龄对学生对高等教育满意度的影响，以及他们在本科任期内对13个知识和技能类别的感知增益。大学gpa也会被审查。在控制其他因素的情况下，年龄相对较大的学生在许多技能和知识类别中获得的收益较小。在所有可用于分析的类别中，他们都没有报告更高的平均收益。这并不是因为学业成绩或参与度，因为他们的平均成绩也差不多，并且对他们的整体大学经历和具体的教学感到满意。因此，虽然年龄相对较大的学生取得了类似的成绩，离开大学时的满意度也没有降低，但他们认为在技能和知识方面从高等教育中受益较少。

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引用次数: 0

Persistent impacts of the COVID-19 pandemic on student outcomes in Italy COVID-19大流行对意大利学生成绩的持续影响

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-02-01 DOI: 10.1016/j.rie.2025.101031

Léonard Moulin , Mara Soncin

The learning loss caused by the COVID-19 pandemic on students’ outcomes is likely to have lasting effects on which evidence is lacking. Using a difference-in-differences design through a triple difference estimator, we identify the evolution of the COVID-19 pandemic’s impact on Italian students’ test scores in the two years following the COVID-19 outbreak. Our findings indicate a persistently negative effect on mathematics and reading scores for grade 5 and grade 8 students in 2021–22, two years after the pandemic began. The magnitude compared the cohort that attended the same grades the year before (2020-21) varies by subject and grade. Our analysis highlights the pandemic’s heterogeneous impact, especially in terms of geographical differences that have been exacerbated by the emergency.

COVID-19大流行对学生成绩造成的学习损失可能会产生持久影响，这方面缺乏证据。通过三重差异估计器，采用差异中差异设计，我们确定了COVID-19大流行在COVID-19爆发后两年内对意大利学生考试成绩影响的演变。我们的研究结果表明，在疫情开始两年后的2021-22年，五年级和八年级学生的数学和阅读成绩持续受到负面影响。与前一年（2020- 2021年）就读同一年级的学生相比，这一数字因学科和年级而异。我们的分析强调了这一流行病的不同影响，特别是在因紧急情况而加剧的地理差异方面。

引用次数: 0

Fertility decline and tax revenues in South Korea 韩国的生育率下降和税收

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-01-31 DOI: 10.1016/j.rie.2025.101025

Joan E. Madia , Francesco Moscone , Asieh Hosseini Tabaghdehi , Jong-Chol An , Changkeun Lee

This study investigates the link between taxation and fertility in South Korea, focusing on the historical period surrounding the mid-70s tax reforms. The longstanding decline in fertility rates has been widely discussed in relation to factors such as increasing human capital, women’s employment, and rising housing costs, leading couples to postpone or forego childbearing decisions. However, less attention has been paid to how tax policies that influence disposable income and economic planning horizons could indirectly affect fertility choices. While taxation is crucial for funding social security systems, policies that reduce household resources without considering demographic impacts may have unintended consequences on population dynamics. Using a time-series of country-year from the World Bank, we exploit South Korea’s major mid-1970s tax reforms as a natural experiment to test the hypothesis that higher tax burdens also contributed to reducing fertility over the subsequent decades. The results suggest considerable negative effect of the mid-1970s tax reforms on fertility in South Korea. This macro-analysis shows tax policies can influence population dynamics, but lacks insight into how tax changes affected childbearing decisions at the household level. Future micro-level studies could reveal mechanisms linking tax policies and fertility behavior. Still, this study highlights potential demographic impacts of taxation policies. Policymakers should consider such consequences when modifying tax systems, especially policies related to family resources and child affordability.

本研究调查了韩国税收与生育率之间的联系，重点关注70年代中期税收改革前后的历史时期。生育率的长期下降与人力资本增加、妇女就业和住房成本上升等因素有关，导致夫妇推迟或放弃生育决定，这一问题已被广泛讨论。然而，对影响可支配收入和经济规划范围的税收政策如何间接影响生育选择的关注较少。虽然税收对于为社会保障体系提供资金至关重要，但不考虑人口影响而减少家庭资源的政策可能会对人口动态产生意想不到的后果。我们利用世界银行国家-年份的时间序列，将韩国20世纪70年代中期的重大税收改革作为自然实验，来检验更高的税收负担也有助于在随后的几十年里降低生育率的假设。结果表明，20世纪70年代中期韩国税制改革对生育率产生了相当大的负面影响。这一宏观分析表明，税收政策可以影响人口动态，但缺乏对税收变化如何影响家庭生育决策的洞察。未来微观层面的研究可以揭示税收政策和生育行为之间的联系机制。尽管如此，这项研究强调了税收政策对人口的潜在影响。政策制定者在修改税收制度时应考虑到这些后果，特别是与家庭资源和儿童负担能力有关的政策。

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引用次数: 0

Remittance and economic growth nexus in BRICS countries: Evidence from PSTR with endogeneity 金砖国家汇款与经济增长关系：来自PSTR的内生性证据

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-01-30 DOI: 10.1016/j.rie.2025.101032

Kalandi Charan Pradhan , Lingaraj Mallick , Kalu Naik

This study evaluates threshold impact of remittances on economic growth based on data for a sample of BRICS countries for the period 1994–2018. In doing so, we employ Panel Smooth Transition Regression (PSTR), which captures both heterogeneity and nonlinearity of smooth transition in estimated coefficients from one extreme to another regime. Based on the PSTR model results, the threshold of remittance ranges between 4.82 and 30.65 % for remittance percentage of GDP (RPG) in BRICS countries. Similarly, threshold estimated value of remittance varies from 27.45 to 30.76 % for the remittances received to paid ratio (RRP). We obtained extreme lower and extreme higher regimes characterized by smooth and sharp transitions in growth-remittances nexus conditional upon control variables for RPG under CG and L-BFGS-B algorithms, respectively. The findings suggest that remittance has a positive impact on economic growth under lower regime and negative impact under higher regime. As per the regression results, remittance has positive impact on economic growth below the estimated threshold whereas above the threshold remittance has negative consequences on economic growth. In addition, investment from abroad becomes growth neutral beyond the threshold. However, below the threshold foreign direct investment improves economic growth. In contrast, gross fixed capital formation substantially accelerates economic growth irrespective of extreme regimes underestimated threshold. Nevertheless, findings of trade balance impact on economic growth is estimated to be negative when it crosses the threshold of remittance. This study offers conspicuous policy suggestions based on the non-linear nexus of remittance and economic growth for BRICS countries.

本研究基于1994-2018年金砖国家样本数据，评估了汇款对经济增长的阈值影响。在此过程中，我们采用面板平滑过渡回归（PSTR），它捕获了从一个极端到另一个政权的估计系数的平滑过渡的异质性和非线性。根据PSTR模型结果，金砖国家汇款占GDP比重的阈值在4.82%至30.65%之间。同样，汇款与汇款比率（RRP）的汇款阈值估计值从27.45%到30.76%不等。我们分别在CG和L-BFGS-B算法下得到了以RPG控制变量为条件的增长-汇款关系平滑和急剧过渡为特征的极低和极高状态。研究结果表明，低制度下汇款对经济增长有积极影响，高制度下汇款对经济增长有消极影响。从回归结果来看，在估计阈值以下，汇款对经济增长有积极影响，而在估计阈值以上，汇款对经济增长有消极影响。此外，来自国外的投资在超过阈值后成为增长中性。然而，低于门槛的外国直接投资促进了经济增长。相比之下，固定资本形成总额大大加速了经济增长，无论极端政权低估了阈值。然而，当贸易差额超过汇款门槛时，对经济增长的影响结果估计是负面的。基于汇款与经济增长的非线性关系，本研究为金砖国家提供了显著的政策建议。

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引用次数: 0

The effect of mandated savings on private consumption: Evidence from Israel's pension reform 强制性储蓄对私人消费的影响：来自以色列养老金改革的证据

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-01-30 DOI: 10.1016/j.rie.2025.101038

Roni Frish

This study examines the impact of the Government Mandatory Pension Order (GMPO) on household consumption. The GMPO, which came into force in Israel in 2008, required contributing to a pension fund at a gradually increasing rate, up to 17.5 percent of wages in 2014 and afterwards. The study uses a diff-in-diff method to compare the development of household consumption expenditure where the household heads did not contribute to a pension fund before 2008 (“Treated”), with that of a group doing so willingly before 2008 ("Control"). The data sources are Israel's Central Bureau of Statistics’ annual Household Expenditure Surveys for the period 2004 through 2016 and Israel Tax Authority data on personal pension contributions. The study rejects the null hypothesis that the treatment has null effect on the consumption of the treated group in the treatment period. However, since the p-value is between 0.05–0.10 the study could not reject the null hypothesis for the conventional p-value threshold of 0.05.

本研究探讨政府强制性退休金令（GMPO）对家庭消费的影响。GMPO于2008年在以色列生效，要求以逐步增加的比率向养老基金缴款，2014年及以后的比例最高可达工资的17.5%。本研究采用“差中差”的方法，比较2008年前户主未向养老基金缴费（“已缴费”）与2008年前自愿缴费（“对照组”）的家庭消费支出发展情况。数据来源是以色列中央统计局2004年至2016年的年度家庭支出调查和以色列税务局关于个人养老金缴款的数据。该研究拒绝了治疗对治疗组在治疗期间的消费没有影响的原假设。然而，由于p值在0.05 - 0.10之间，因此研究不能拒绝常规p值阈值0.05的原假设。

引用次数: 0

Globalizing green innovation: Impact on green GDP and pathways to sustainability 全球化绿色创新：对绿色GDP的影响和可持续发展的途径

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-01-29 DOI: 10.1016/j.rie.2025.101042

Muhammad Nadir Shabbir , Duong Thuy Linh

From 2009 to 2023, the study investigates in 78 developing nations the link between green innovation, Green GDP, and globalization. It finds using dynamic panel data models that green innovation greatly increases Green GDP while globalization has a beneficial moderating effect by allowing technological transfer and worldwide cooperation. Using econometric methods, an ecologically inclusive metric—green GDP—is examined to handle problems including heteroscedasticity and endogeneity. Emphasizing customized policy measures, the research also finds thresholds in the efficacy of green innovation depending on human development levels. Robustness tests validate the results and underline the need of green innovation in sustainable development as well as the combined effect of globalization. Particularly addressing issues in the framework of developing economies, this study offers insightful analysis for legislators and stakeholders to promote sustainable economic growth by means of innovation and globalization in developing countries.

从2009年到2023年，该研究调查了78个发展中国家的绿色创新、绿色GDP和全球化之间的联系。利用动态面板数据模型发现，绿色创新极大地提高了绿色GDP，而全球化通过允许技术转移和全球合作对绿色GDP有有益的调节作用。利用计量经济学方法，研究了生态包容性指标绿色gdp，以处理包括异方差和内生性在内的问题。研究还发现，绿色创新效能的阈值取决于人类的发展水平。稳健性测试验证了结果，并强调了可持续发展中绿色创新的必要性以及全球化的综合效应。本研究特别针对发展中经济体框架内的问题，为立法者和利益相关者通过创新和全球化促进发展中国家的可持续经济增长提供了深刻的分析。

引用次数: 0

Bridging the divide: Exposing the intriguing link between international reserves and environmental status through the inverted U-shaped relationship 弥合鸿沟：通过倒u型关系揭示国际储备与环境状况之间的有趣联系

IF 1.2 Q3 ECONOMICS

Research in Economics

Pub Date : 2025-01-27 DOI: 10.1016/j.rie.2025.101041

Aissa Djedaiet , Hicham Ayad , Salim Bourchid Abdelkader

The BRICS countries have a significant influence on global environmental issues, ranking among the world's top polluters. Similarly, they possess the world's largest foreign exchange reserves. Nevertheless, this intriguing intertwining has not been investigated. This research gap inspired the study to examine how environmental conditions react to the accumulation of international reserves and to explore the potential existence of an inverted U-shaped relationship between 1993 and 2020. The empirical findings using Method of Moments Quantile Regression (MMQR) indicate an inverted U-shaped relationship between international reserves and environmental degradation in the BRICS countries. Initially, reserve accumulation is harmful to the environment, suggesting a prioritization of reserve accumulation over environmental sustainability. However, once a certain level is reached, reserves start to help protect the environment. Additional findings reveal that nonrenewable energy consumption, GDP, and population negatively affect the environment, whereas exports have a positive influence. The impact of FDI, however, is inconsistent and frequently lacks significance over time. Furthermore, the causality analysis supports all of the aforementioned findings.

金砖国家在全球环境问题上有重大影响，是世界上污染最严重的国家之一。同样，它们拥有世界上最大的外汇储备。然而，这种有趣的相互关系还没有被研究过。这一研究缺口启发了本研究，以研究环境条件如何对国际储备的积累作出反应，并探索1993年至2020年之间可能存在的倒u型关系。运用矩分位数回归方法（MMQR）的实证结果表明，金砖国家的国际储备与环境退化之间存在倒u型关系。最初，储备积累对环境有害，这表明储备积累优先于环境可持续性。然而，一旦达到一定的水平，保护区就开始帮助保护环境。其他研究结果表明，不可再生能源消费、GDP和人口对环境有负面影响，而出口对环境有积极影响。然而，外国直接投资的影响是不一致的，而且随着时间的推移往往缺乏意义。此外，因果关系分析支持上述所有发现。

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