Structural Change and Economic Dynamics最新文献

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The impact of supply chain digitization on the carbon emissions of listed companies—A quasi-natural experiment in China

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-02-13 DOI: 10.1016/j.strueco.2025.02.007

Chenyu Meng , Yongsheng Lin

Integrating digital technology into supply chain development strengthens supply chain digitization, improving technical communication and transparency at various nodes. This study examines the effect of supply chain digitization on the carbon emissions of listed companies and their transmission mechanisms, leveraging the quasi-natural experiment of China's 2018 Supply Chain Innovation and Application pilot policy. The findings reveal that implementing supply chain digitization led to a 5.4% reduction in carbon emissions in pilot companies compared with nonpilot counterparts, according to 2012–2022 data on 2,828 listed companies. Mechanism analysis indicates that supply chain digitization achieves emission reductions mainly by facilitating green technological innovation and alleviating information asymmetry. Heterogeneity analysis reveals more potent effects in central regions, resource-rich areas, firms with concentrated supply chains, long inventory turnover, and high-tech or heavily polluting industries. This study offers valuable insights for optimizing policies to strengthen supply chain digitization and assist companies in reducing their carbon emissions.

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引用次数: 0

Legal gender equality as a catalyst for convergence

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-02-12 DOI: 10.1016/j.strueco.2025.02.003

Can Sever

Despite the remarkable progress toward gender equality in the law over the last five decades, the legal environment across the world is still far from providing a level playing field for women. Based on a global sample since the 1970s, this paper finds that greater gender equality in the law facilitates cross-country income convergence over time. The results call for action and provide a reason to be optimistic. The findings imply that legal reforms supportive of gender equality, which could indeed be actionable in the shorter term, help poorer countries catch up with the living standards in the advanced economies. This offers a window of opportunity to set the stage for an inclusive and sustainable growth path in the post-Covid-19 period, given the adverse effects of the pandemic on economic growth and gender gaps.

引用次数: 0

The impact of 2008 tax reform on profit shifting of foreign enterprises in China

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-02-08 DOI: 10.1016/j.strueco.2025.02.005

Mantian Xue, Ge Yan

This paper evaluates the policy effect of the 2008 tax reform on profit shifting of foreign enterprises in China. Employing the micro data from the China Industrial Enterprise Database between 2001 and 2015, the comparison between the pre-tax margin of newly established foreign enterprises which were tentatively and relatively unaffected by the 2008 tax reform and that of the long-standing enterprises shows that, the anti-avoidance rules were not sufficient enough to offset the increased profit shifting motivation of foreign enterprises after 2008. However, the impact of the anti-avoidance rule against thin capitalization on the pre-tax margin was far greater than that against the intangible assets transaction, though not great enough to reverse the overall impact.

引用次数: 0

Multi-factor, multi-country testing of the Heckscher-Ohlin theorem without factor price equalization: A critical view

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-02-05 DOI: 10.1016/j.strueco.2025.02.002

Pablo R. Liboreiro

Several recent empirical studies conclude that there is evidence in favour of a version of the Heckscher-Ohlin theorem that dispenses with the assumption of factor price equalization. However, many of these studies base their conclusions on small data sets, relating to one or two factors and a not very high level of disaggregation by industry. Moreover, the studies do not always take into account international differences in factor efficiency. In the present study, the Heckscher-Ohlin model is tested by considering data available in the World Input-Output Database (2016 release) for 7 factors, 56 industries and 40 countries plus a composite ‘country’ comprising the rest of the world, and by measuring factor use in efficiency units. Analysing this data sample, it is found that the capital and skill content of trade is only weakly correlated with countries’ factor abundance. This correlation is weaker when international differences in factor use are adjusted for relative factor efficiency and when the level of industry disaggregation increases. Paradoxically, this is not the case for the energy and emissions content of trade.

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引用次数: 0

Impacts of Chinese demand and long term American interest rate on the dynamics of commodity prices

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-02-04 DOI: 10.1016/j.strueco.2025.02.001

Edem Thierry Géraud. ANANI

This paper is concerned with the empirical testing of the hypothesis that a new regime of high commodity prices in the early 2000s was driven by demand from emerging countries, particularly China, and by monetary and financial factors related to commodity markets. Based on a Vector Error Correction Model (VECM), our estimation results support this hypothesis. In addition to this main result, given that the exploitation of commodities is the main source of revenue to finance their development strategies, the possible maintenance of high commodity price indexes would be an opportunity to change the development path of countries specialized in the production of goods from the primary economic sector.

引用次数: 0

Diversity in banking: How does competition in the Italian banking market affect bank performance?

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-01-30 DOI: 10.1016/j.strueco.2025.01.010

Adalgiso Amendola , Cristian Barra , Marinella Boccia , Anna Papaccio

This study examines the theoretical and empirical effects of market competition on bank performance through the lens of institutional diversity (i.e., considering different types of credit institutions interacting in the credit market). In terms of the theoretical framework, interactions between banks are modelled as mixed Cournot competition with strategic interactions between representatives of the same and different categories. Using ABI's BilBank 2000 database and fixed effects estimates, the empirical study investigates the competition-performance nexus in Italy from 1994 to 2015. Theoretical prediction suggests that diversity in less concentrated markets can improve bank performance. The empirical results confirm the theoretical expectation, suggesting that a less concentrated financial system, characterised by a constellation of credit institutions with a high degree of differentiation in ownership structure and objective functions, improves bank performance. Policy makers and regulators should encourage greater competition in the banking market to improve bank performance in a diversified financial environment.

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引用次数: 0

Debt by rules: Recrafting impact of infrastructure investments and business cycles on debt sustainability

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-01-20 DOI: 10.1016/j.strueco.2025.01.009

Olatunji A. Shobande , Lawrence Ogbeifun

For decades, economists have advocated for growth initiatives, including the debt-growth hypothesis, which suggests that leveraging debt for infrastructure investments can spur growth. However, past generations often supported deficit spending to finance wars, social programs, and economic stimuli without fully considering the long-term consequences. While not entirely to blame, their policy choices, consumption habits, and resistance to necessary reforms have significantly contributed to the current debt crisis. This has resulted in future generations facing higher taxes, reduced public investment, economic instability, and inequity. This paper offers three critical contributions. First, it explores how infrastructure investments and business cycles influence debt sustainability within the context of fiscal rules. Second, it develops and estimates a robust macroeconomic model to evaluate the fundamental drivers of debt sustainability using advanced dynamic analysis. Third, it investigates asymmetric effects through Quantile-Quantile regression. The findings reveal that the relationship between infrastructure investment, business cycles, and debt sustainability varies across continents. Moreover, past debt sustainability emerges as a powerful and statistically significant predictor of current debt stability.

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引用次数: 0

Does smart city construction exacerbate capital misallocation? Spatial spillovers, digital transformation, and robotics application

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-01-18 DOI: 10.1016/j.strueco.2025.01.008

Haotian Luo

This paper aims to examine the impact of Smart City Construction on capital misallocation in China from a spatial perspective. The findings reveal that Smart City Construction generates significant negative spatial spillover effects on capital misallocation in neighboring cities, with these effects gradually diminishing beyond a 300-kilometer radius. The spillover effects are particularly pronounced in eastern regions, medium-sized cities, and cities with higher administrative status. Furthermore, at the firm level, Smart City Construction tends to exacerbate internal financial misallocation, yet digital transformation and robotics application can partially alleviate these inefficiencies. However, these technological interventions may intensify inter-firm capital misallocation. These findings suggest a dual effect of Smart City Construction and associated technological advancements: while they enhance internal capital efficiency, they may disrupt broader regional capital allocation patterns. Therefore, this study underscores the need to balance internal optimization with external regional impacts, promoting coordinated and sustainable regional development.

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引用次数: 0

Comparing the earned income tax credit and universal basic income in a heterogeneous agent model

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-01-14 DOI: 10.1016/j.strueco.2025.01.002

Ryo Hasumi , Tetsuaki Takano

This study quantitatively evaluates two redistributive policies: the earned income tax credit (EITC) and universal basic income (UBI). We construct a continuous time heterogeneous agent model calibrated to the US economy and compare the expansion of the EITC with the introduction of UBI. Both policy changes encourage low-income households’ labor force participation and improve social welfare measured by consumption equivalents. Meanwhile, output declines as the policies discourage precautionary savings and reduce capital stock. Furthermore, they may widen wealth inequality because redistribution lowers income dispersion, and the marginal increase in the value of holding additional assets flattens out, as do consumption and savings.

引用次数: 0

Integrating climate change impacts into power system planning for achieving carbon neutrality in China

IF 5 2区经济学 Q1 ECONOMICS

Structural Change and Economic Dynamics

Pub Date : 2025-01-11 DOI: 10.1016/j.strueco.2025.01.003

Baojun Tang , Yun Wu , Biying Yu , Robert Harmsen , Jing Hu , Wina Crijns-Graus , Yi-Ming Wei

This study addresses the oversight in the climate change impacts on power system planning for carbon neutrality. We enhance the China's Climate Change Integrated Assessment/National Energy Technology (C³IAM/NET) Power model with meteorological big data, and model climate change impacts on power demand and supply. The regional power technology pathways and dispatching strategies under the RCP2.6 scenario is re-optimized by considering evolving weather patterns. Findings reveal a necessity for expanding renewable power to 9.8 TW by 2060, with wind and solar power contributing 4.2 TW and 5.0 TW, respectively, and storage capacity to 0.9 TW. 56 % of wind power, 42 % of solar power, and 48 % of storage concentrate in the North and Northwest, respectively. The Northwest needs to export up to 395 GWh of power per hour. Coping with climate fluctuations, the annual system cost by 2060 is estimated at 4.1 trillion RMB, an 8 % rise compared to the scenario without further climate change.

引用次数: 0

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