Journal of Asian Economics最新文献_第8页

Understanding capital controls measurement: Need, classification, and suitability 理解资本控制计量：需求、分类和适用性

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-22 DOI: 10.1016/j.asieco.2025.102052

Biswajit Panigrahi, K.P. Prabheesh

This study critically reviews the literature on the measures of capital controls, focusing on the conceptual and empirical challenges associated with both de jure and de facto indicators. We document the historical evolution of these measures over the period 1980–2022, classify them into subcategories, and assess their relative strengths, weaknesses, and suitability for policy analysis. We find that de jure measures, particularly capital control actions (CCAs), are generally more appropriate than de facto measures for evaluating policy effects, as they better capture the variation in legal restrictions. Among the de jure indicators, the intensity of policy capture varies, with Pasricha et al. (2015) outperforming Fernández et al. (2016) and Chinn and Ito (2008). We also identify two critical gaps in existing datasets: (i) the absence of direction-specific (inward/outward) and action-specific (tightening/easing) coding for financial sector capital controls; and (ii) the lack of a severity-weighted approach to CCAs that distinguishes marginal procedural changes from sweeping policy shifts. Addressing these gaps offers clear avenues for the construction of more granular and analytically powerful capital controls indicators.

本研究批判性地回顾了有关资本管制措施的文献，重点关注与法律和事实指标相关的概念和经验挑战。我们记录了这些措施在1980-2022年期间的历史演变，将它们分类为子类别，并评估它们的相对优势、劣势和政策分析的适用性。我们发现，法律上的措施，特别是资本管制行动（CCAs），通常比事实上的措施更适合评估政策效果，因为它们更好地反映了法律限制的变化。在法律指标中，政策捕获的强度各不相同，Pasricha等人（2015）的表现优于Fernández等人（2016）和Chinn和Ito（2008）。我们还确定了现有数据集中的两个关键缺口：(i)缺乏针对金融部门资本管制的具体方向（向内/向外）和具体行动（收紧/放松）编码；（ii）缺乏针对共同承诺协定的严重程度加权方法，以区分边际程序变化与全面政策转变。解决这些差距为构建更精细、分析能力更强的资本管制指标提供了明确的途径。

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引用次数: 0

Micromobility and the social integration of migrant population: Empirical evidence from bike sharing 流动人口的微流动性与社会融合：来自共享单车的经验证据

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-13 DOI: 10.1016/j.asieco.2025.102035

Yongli Chen , Jing Li

This paper utilizes the China Migrants Dynamic Survey data spanning 2011–2018 to conduct a systematic analysis of the impact of dockless bike sharing on the social integration of migrants. Employing a staggered DID approach that exploits the exogenous entry of bike sharing across cities, the study reveals significant enhancements in the willingness of migrants for social integration. The underlying mechanisms include improvement of economic capabilities, facilitation of local social ties, and increased accessibility to public services. After robustness checks, these findings remain valid. Heterogeneity analysis indicates that the entry of bike sharing has a greater impact on urban-to-urban migration, highly educated migrants, inter-provincial movement, and those in the initial stages of migration. From the community perspective, the impact is less pronounced in communities with a higher proportion of migrants and full-time coordinators. This research contributes to the literature on the externalities of sharing economy and augments the discourse on social integration from a transportation perspective, offering significant theoretical and policy implications for enhancing migrant integration into urban life and alleviating social exclusion among transport disadvantaged groups.

本文利用2011-2018年中国流动人口动态调查（ ）数据，系统分析了无桩共享单车对流动人口社会融合的影响。该研究采用交错DID方法，利用城市间共享单车的外源性进入，揭示了流动人口社会融合意愿的显著增强。基本机制包括提高经济能力、促进地方社会联系和增加获得公共服务的机会。经过稳健性检查，这些发现仍然有效。异质性分析表明，共享单车的进入对城市向城市迁移、高学历迁移、省际迁移和迁移初期迁移的影响更大。从社区的角度来看，在移民和全职协调员比例较高的社区，这种影响不太明显。本研究丰富了关于共享经济外部性的文献，并从交通视角扩充了社会整合的论述，为促进流动人口融入城市生活和缓解交通弱势群体的社会排斥提供了重要的理论和政策启示。

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引用次数: 0

Land titling: Promoting internal migration in China? 土地所有权：促进中国内部人口流动？

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-10 DOI: 10.1016/j.asieco.2025.102036

Xingshu Ma , Fung Kwan

Land tenure security is widely recognized as a critical factor in facilitating labor reallocation across many developing economies. This study examines the impact of China’s latest land titling programme (LTP), which aimed to increase land tenure security by issuing certificates after measuring and registering agricultural land across rural households. Using nationally representative household-level data, we employ a triple difference approach (comparing households with land endowment to those without) and find that, in general, the LTP exerts a significantly positive effect on rural households’ migration for non-farm work. We further observe that such influences on migration are largely affected by regional differences and the sectoral composition. Additionally, transportation construction and rising housing prices do not significantly affect the policy effectiveness, while government expenditure for people’s livelihood is critical to the LTP's effectiveness, though the effects vary across distinct categories of livelihood expenditure: social security and employment, education, and healthcare. Finally, the regional variations in policy effect can be attributed to the relative strength of two countervailing mechanisms: the “labour absorption effect” and the “migration promotion effect”—differences driven by sectoral disparities across regions.

在许多发展中经济体，土地保有权保障被广泛认为是促进劳动力再分配的关键因素。本研究考察了中国最新的土地所有权计划（LTP）的影响，该计划旨在通过在农户测量和登记农业用地后颁发证书来增加土地所有权保障。使用具有全国代表性的家庭数据，我们采用了三差方法（将有土地禀赋的家庭与没有土地禀赋的家庭进行比较），并发现，总体而言，LTP对农户从事非农工作的迁移具有显著的积极影响。我们进一步观察到，这种对移民的影响在很大程度上受到区域差异和部门构成的影响。此外，交通建设和房价上涨对政策有效性没有显著影响，而政府民生支出对LTP的有效性至关重要，尽管不同类别的民生支出（社会保障和就业、教育和医疗保健）的影响有所不同。最后，政策效果的区域差异可归因于两种抵消机制的相对强度：“劳动力吸收效应”和“移民促进效应”——区域间部门差异驱动的差异。

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引用次数: 0

Surname distance and inter-city collaborative innovation 姓氏距离与城际协同创新

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-08 DOI: 10.1016/j.asieco.2025.102038

Weijie Jiang , Yike Shan

As a basic factor, cultural differences exert long-term impacts on regional collaborative innovation and knowledge spillovers. This paper estimates the causal effect of surname distance on inter-city collaborative innovation in China. The findings indicate that greater surname distance significantly impedes collaborative innovation between cities over time. These conclusions remain robust even when core explanatory variables are substituted, geographical distance is controlled for, and are particularly pronounced in interprovincial collaborations. Notably, surname distance exerts its most substantial inhibitory effect on collaborative innovation between large and small cities, as well as in partnerships involving industry-university collaboration and top-tier universities. Mechanistic analysis suggests that the increase in surname distance may hinder innovation activities through two principal pathways: it reduces inter-regional communication and exacerbates the trust gap between regions. Further analysis reveals that as surname distance increases, both the quality and foundational aspects of interurban collaborative innovation deteriorate.

文化差异作为一个基础性因素，对区域协同创新和知识溢出具有长期影响。本文分析了姓氏距离对中国城市间协同创新的影响。研究结果表明，随着时间的推移，姓氏距离的增加显著阻碍了城市间的协同创新。即使替换了核心解释变量，控制了地理距离，这些结论仍然是有力的，并且在省际合作中特别明显。值得注意的是，姓氏距离对大城市和小城市之间的协同创新、产学合作伙伴关系和一流大学的协同创新的抑制作用最为显著。机制分析表明，姓氏距离的增加可能通过两个主要途径阻碍创新活动：减少区域间的沟通，加剧区域间的信任差距。进一步分析发现，随着姓氏距离的增加，城市间协同创新的质量和基础都在恶化。

引用次数: 0

Green governance: The impact of environmental auditing on carbon emissions in Chinese cities 绿色治理：环境审计对中国城市碳排放的影响

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-07 DOI: 10.1016/j.asieco.2025.102040

Zhiyuan Gao , Ziying Jia , Mengwen Hua , Yu Hao

The study manually compiled city-level environmental auditing (EA) data from the National Audit Office to examine how EA influences the advancement of low-carbon development. Using panel data from 281 prefecture-level cities over the period 2008–2021, the research systematically investigates the relationship between EA and carbon emissions. The findings reveal that EA helps reduce urban carbon emissions, primarily by fostering green technological progress and lowering energy consumption. Furthermore, the study validates moderating effects from both micro- and macro-level perspectives: increased public environmental awareness and optimized industrial structure enhance the carbon reduction impact of EA. Heterogeneity analysis indicates that the carbon mitigation effect of EA is more pronounced in cities with greater fiscal investment, non-traditional industrial bases, higher degrees of marketization, and more advanced digital economies. This research not only enriches the literature on carbon emissions but also provides robust empirical evidence and policy recommendations regarding the role of government EA in driving low-carbon transitions and achieving China’s dual carbon goals. The conclusions provide essential guidance for policymakers to optimize EA policies and facilitate China’s economic shift toward sustainable, low-carbon development, which has important theoretical and practical implications.

该研究手工收集了国家审计署提供的市级环境审计（EA）数据，以考察EA如何影响低碳发展的进程。利用2008年至2021年281个地级市的面板数据，系统地考察了经济环境与碳排放之间的关系。研究结果表明，电子商务有助于减少城市碳排放，主要是通过促进绿色技术进步和降低能源消耗。此外，从微观和宏观两个层面验证了调节效应：公众环保意识的增强和产业结构的优化增强了EA的碳减排效果。异质性分析表明，在财政投入较大、非传统产业基础、市场化程度较高和数字经济水平较高的城市，EA的碳减排效果更为显著。本研究不仅丰富了碳排放的相关文献，而且为政府环境评估在推动中国低碳转型和实现双碳目标中的作用提供了有力的经验证据和政策建议。研究结论对政策制定者优化生态环境政策、促进中国经济向可持续低碳发展方向转变具有重要的理论和实践意义。

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引用次数: 0

Environmental constraint and house price: Evidence from China 环境约束与房价：来自中国的证据

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-06 DOI: 10.1016/j.asieco.2025.102039

Chen Feng , Bei-Bei Shi , Xue-Cheng Yin , Yi Zeng , Guorui Gao

With the increasingly serious environmental pollution problem, how to effectively curb environmental pollution and reduce corporate emissions has become an important issue that urgently needs to be addressed. A large number of studies evaluating environmental protection policies have overlooked the additional social costs incurred during the environmental governance. Therefore, we systematically analyze the impact of environmental regulation on real estate prices, taking the pilot policy of Sulfur Dioxide Emissions Trading (SDET) in China as an opportunity. The results show that the SDET has led to a significant increase in house prices in the pilot cities, and the magnitude of the increase expands with the increase in the number of participating enterprises and the turnover of emissions trading. The mechanistic tests show that the emissions trading pilot policy has produced a population agglomeration effect while achieving environmental benefits, improved residents' willingness to pay for local housing, and promoted house prices by increasing housing demand. The research conclusions of this paper provide a decision-making reference for the government to consider the environmental effects and social effects as a whole when formulating environmental policies.

随着环境污染问题的日益严重，如何有效遏制环境污染，减少企业排放已成为迫切需要解决的重要问题。大量评价环境保护政策的研究忽略了环境治理过程中产生的额外社会成本。因此，本文以中国二氧化硫排放权交易（SDET）试点政策为契机，系统分析了环境调控对房地产价格的影响。结果表明，SDET导致试点城市房价出现明显上涨，且涨幅幅度随着参与企业数量和排放交易交易额的增加而扩大。机制检验表明，排污权交易试点政策在取得环境效益的同时，产生了人口集聚效应，提高了居民在当地购买住房的意愿，通过增加住房需求，促进了房价的上涨。本文的研究结论为政府在制定环境政策时综合考虑环境效应和社会效应提供了决策参考。

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引用次数: 0

Linguistic distance and entrepreneurship of migrants: Evidence from China 语言距离与移民创业：来自中国的证据

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-04 DOI: 10.1016/j.asieco.2025.102037

Guirong Mao , Jia Wu , Qinyang Yao

This study examines how the linguistic distance between migrants’ cities of origin and destination affects their entrepreneurial activities. Utilizing data from the China Migrant Dynamic Survey in 2017, we find that the likelihood of migrants’ entrepreneurial activities in destination cities initially increases with linguistic distance and then declines. This inverted U-shaped relationship emerges from two opposing effects. A modest linguistic difference helps migrants identify business opportunities. We show that migrants from regions with distinct culinary traditions are more likely to start a business in the catering industry to meet the demand for their home cuisine. A longer linguistic difference also introduces difficulties for migrants in adapting to social norms and creates barriers to build social ties and trust. Our findings suggest that promoting a moderate cultural diversity in a region may help stimulate entrepreneurial vitality. (JEL: J15; J61)

本研究考察了移民的原籍城市和目的地城市之间的语言距离如何影响他们的创业活动。利用2017年中国流动人口动态调查数据，我们发现流动人口在目的地城市的创业活动可能性随着语言距离的增加而先增加后下降。这种倒u型关系来自两种相反的影响。适度的语言差异有助于移民识别商业机会。我们发现，来自具有独特烹饪传统地区的移民更有可能在餐饮业创业，以满足对家乡美食的需求。长期的语言差异也给移民带来了适应社会规范的困难，并为建立社会联系和信任制造了障碍。我们的研究结果表明，促进一个地区适度的文化多样性可能有助于激发创业活力。（jel: j15; j61）

引用次数: 0

How e-commerce reshape rural industrial transition: Evidence from China’s rural e-commerce demonstration counties program 电子商务如何重塑农村产业转型：来自中国农村电子商务示范县的证据

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-03 DOI: 10.1016/j.asieco.2025.102034

Dandan Liu , Jin Liu , Qing Xu , Qing Yang

In the new context of the digital economy, e-commerce based on digital platforms has become an important driving force for rural industrial transformation especially in developing countries. Based on the quasi-natural experiment of the Rural E-Commerce Demonstration County (REDC) program, the study uses the county-level data from China (2000–2020), and employs a time-varying DID method combined with machine learning techniques to explore the impact of rural e-commerce on industrial structure transformation. The findings indicate that the REDC program significantly fosters industrial upgrading, with varying effects across regions due to differences in resource endowments and development levels. Mechanism analysis suggests that rural e-commerce drives industrial upgrading through three primary channels: labor reallocation, dynamic adjustment of entrepreneurial resources, and industrial agglomeration. Further analysis indicates that rural e-commerce also plays a role in promoting coordinated industrial development. Utilizing machine learning methods, we identify a nonlinear relationship between rural e-commerce and industrial upgrading, which unfolds in three distinct stages: initial adaptation, rapid upgrading, and stable development. This paper proposes that differentiated e-commerce programs, smooth factor mobility systems, and industrial planning will assist rural areas in adapting to the e-commerce context and thereby facilitate rural economic transformation.

在数字经济新背景下，基于数字平台的电子商务已成为推动农村特别是发展中国家农村产业转型的重要动力。本研究基于农村电子商务示范县（REDC）项目的准自然实验，采用2000-2020年中国县级数据，采用时变DID方法结合机器学习技术，探讨农村电子商务对产业结构转型的影响。研究结果表明，区域经济发展中心对产业升级具有显著促进作用，但由于资源禀赋和发展水平的差异，区域经济发展中心对产业升级的促进作用存在差异。机制分析表明，农村电子商务通过劳动力再配置、创业资源动态调整和产业集聚三个主要渠道驱动产业升级。进一步分析表明，农村电子商务还具有促进产业协调发展的作用。利用机器学习方法，我们确定了农村电子商务与产业升级之间的非线性关系，这种关系表现为三个不同的阶段：初始适应、快速升级和稳定发展。本文提出差异化的电子商务方案、顺畅的要素流动体系和产业规划将有助于农村适应电子商务环境，从而促进农村经济转型。

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引用次数: 0

Mobile money and financial inclusion: International evidence from informal sector enterprises in Asia and Africa 移动货币与普惠金融：来自亚洲和非洲非正规部门企业的国际证据

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-03 DOI: 10.1016/j.asieco.2025.102033

Safi Ullah Khan

Mobile money (m-money)–fintech platforms that enable payments, transfers, and savings via mobile phones–has revolutionized the payment landscape in Africa, surpassing bank accounts in some regions. Studies have examined the effects of m-money on the financial inclusion of previously unbanked populations at the macro level. However, research on how fintech’s m-money enhances access to conventional banking services for microentrepreneurs and informal businesses remains limited. Using instrumental variable probit models and non-parametric methods on a cross-country sample from the World Bank’s informal enterprise surveys of sub-Saharan and Asian countries, this study finds robust evidence that m-money significantly increases informal enterprises’ transitions to deposit-based and credit-based financial inclusion. Heterogeneity analyses reveal that m-money significantly enhances microfinance credit access for informal enterprises in Asian countries compared with African countries. However, its effect on bank credit access is nearly the same in both regions, with statistically more significant coefficient estimates in the African countries. Furthermore, mechanism test analysis shows that the observed financial inclusion effect of fintech’s m-money stems from its influence on profitability and trade credit provision, which improves access to traditional financial services. An important policy implication is that fintech's m-money can serve as a precursor to broader formal financial inclusion in informal-sector enterprises.

移动货币（m-money）是一种通过手机实现支付、转账和储蓄的金融科技平台，它彻底改变了非洲的支付格局，在一些地区甚至超过了银行账户。研究从宏观层面考察了移动货币对以前没有银行账户的人口的金融包容性的影响。然而，关于金融科技的移动货币如何提高微型企业家和非正规企业获得传统银行服务的机会的研究仍然有限。本研究利用工具变量概率模型和非参数方法对世界银行在撒哈拉以南和亚洲国家开展的非正式企业调查的跨国样本进行分析，发现强有力的证据表明，移动货币显著促进了非正式企业向以存款和信贷为基础的普惠金融转型。异质性分析表明，与非洲国家相比，移动货币显著提高了亚洲国家非正规企业获得小额信贷的机会。然而，它对银行信贷获取的影响在两个区域几乎相同，非洲国家的统计系数估计更为显著。此外，机制检验分析表明，金融科技移动货币的金融普惠效应源于其对盈利能力和贸易信贷提供的影响，这改善了传统金融服务的可及性。一个重要的政策含义是，金融科技的移动货币可以作为非正式部门企业更广泛的正式金融包容性的先驱。

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引用次数: 0

Spatial dependence and heterogeneity regime effect on the allocation of Korea’s international aid to recipients 空间依赖与异质性制度对韩国国际援助分配的影响

IF 3.4 3区经济学 Q1 ECONOMICS

Journal of Asian Economics

Pub Date : 2025-09-01 DOI: 10.1016/j.asieco.2025.102032

Chae-Deug Yi

This study uses spatial heterogeneity regime models to analyze the allocation of Korea’s official development assistance (ODA) to 55 recipient countries, and examines whether recipient countries’ level of democracy or political stability, distance from Korea, trade, gross domestic product, global ODA, or global foreign direct investment have spatial and spatial heterogeneity regime effects on the determinants of Korea’s ODA to recipient countries. Despite the spatial effects, if we use the non-special ODA model the estimators will be inconsistent. However. the empirical results found new facts that the allocation of Korea’s ODA have the spatial dependence effects and spatial heterogeneity effects across four regimes, such that the estimation of the determinants of Korea’s ODA differs across Asia, Africa, Europe, and Pacific and Central America. Therefore, the spatial heterogeneity regime model is needed to analyze the determinants of Korea’s ODA and to adopt more effective ODA policies.

本研究利用空间异质性制度模型分析了韩国对55个受援国的官方发展援助（ODA）分配，并考察了受援国的民主或政治稳定水平、与韩国的距离、贸易、国内生产总值、全球官方发展援助或全球外国直接投资是否对韩国对受援国的官方发展援助的决定因素具有空间和空间异质性制度影响。尽管存在空间效应，但如果我们使用非特殊ODA模型，估计量将不一致。然而。实证结果发现了新的事实，即韩国官方发展援助的分配在四种制度下具有空间依赖效应和空间异质性效应，因此对韩国官方发展援助决定因素的估计在亚洲、非洲、欧洲、太平洋和中美洲存在差异。因此，需要空间异质性制度模型来分析韩国官方发展援助的决定因素，并采取更有效的官方发展援助政策。

引用次数: 0