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Economic complexity and local employment multipliers 经济复杂性和当地就业乘数
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-11-19 DOI: 10.1016/j.strueco.2025.11.005
Arthur Ribeiro Queiroz , Elton Eduardo Freitas , João Prates Romero
The objective of this paper is to assess the heterogeneity of employment multipliers between regions and sectors of distinct complexity levels, segmenting regions into four complexity levels and the economy into two sectors: complex and non-complex. Formal labor market data from 558 Brazilian micro-regions in three time points (2009, 2014 and 2019) were used in the investigation. Potential endogeneity was addressed by employing shift-share instrumental variables.. In less complex regions, the complex sector exhibits statistically weaker effects on both the non-complex sector and on itself, while the strongest positive impacts on employment arise from the non-complex sector’s self-multiplication, ranging from 0.92 to 1.8. In more complex regions, the complex sector presents the highest employment multiplier, generating between 1.06 and 1.43 jobs within itself and between 1.71 and 3.25 jobs in the non-complex sector.
本文的目的是评估不同复杂程度的地区和部门之间就业乘数的异质性,将区域划分为四个复杂水平,将经济划分为两个部门:复杂和非复杂。调查使用了2009年、2014年和2019年三个时间点巴西558个微型地区的正式劳动力市场数据。潜在的内生性是采用偏移份额工具变量解决。在不太复杂的地区,复杂部门对非复杂部门和自身的影响在统计上都较弱,而对就业的最积极影响来自非复杂部门的自我倍增,范围从0.92到1.8。在较复杂的地区,复杂部门的就业乘数最高,在其内部产生1.06至1.43个工作岗位,在非复杂部门产生1.71至3.25个工作岗位。
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引用次数: 0
Agglomeration externalities of high-growth firms: the case of the manufacturing sector in China 高增长企业的集聚外部性:以中国制造业为例
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-11-18 DOI: 10.1016/j.strueco.2025.11.004
Jing Yang , Danning Lu , Jianxun Shi
The contribution of high-growth firms to economic growth is gradually expanding, but its actual and subsequent effects on economy need to be further explored. This paper provides evidence for the study of the agglomeration externalities involving high-growth firms by analyzing their influence on non-high-growth firms’ productivity growth and input allocation within the same industry and region, as well as their spillover effects via both backward and forward linkages. The analysis shows robust proof of positive spillovers of high-growth firms on the labor productivity and inputs allocation of non-high-growth firms within the identical region and industry using manufacturing firm-level data on China between 2003 and 2013. The detailed mechanisms of agglomeration externalities associated with high-growth firms are further analyzed through three important channels, mainly including labor pooling, input sharing and knowledge spillover effects by the high-growth externalities.
高增长企业对经济增长的贡献正在逐步扩大,但其对经济的实际和后续效应有待进一步探讨。本文通过分析高增长企业的集聚外部性对同一产业和区域内非高增长企业生产率增长和投入配置的影响,以及它们通过后向和前向联系的溢出效应,为高增长企业的集聚外部性研究提供了证据。本文利用2003 - 2013年中国制造业企业层面的数据,有力地证明了高增长企业对同一地区和同一行业内非高增长企业的劳动生产率和投入配置存在正溢出效应。通过高增长外部性的劳动力汇集、投入共享和知识溢出效应三个重要渠道,进一步分析了高增长企业集聚外部性的具体机制。
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引用次数: 0
Macroprudential and monetary policies to deal with inequality 应对不平等的宏观审慎和货币政策
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-11-08 DOI: 10.1016/j.strueco.2025.11.001
Samantha Coccia , Mauro Gallegati , Alberto Russo
This paper examines the impact of macro prudential policies on financial stability and inequality, focusing on the effects of debt service-to-income (DTI) ratio reductions and on its coordination with a conventional monetary policy. Using a macroeconomic simulation model, we find that reducing DTI threshold bring about a decrease in both households indebtedness and non-performing loans (NPLs), while causing economic contraction, and worsening inequality by restricting access to credit for lower-income households. Our findings suggest that while macro prudential policy (lower DTI) alone is able to grant more financial stability at the cost of greater inequality, a combination with expansionary monetary policies can reduce these disparities while ensuring financial stability.
本文考察了宏观审慎政策对金融稳定和不平等的影响,重点关注降低偿债与收入比率(DTI)的影响及其与传统货币政策的协调。通过宏观经济模拟模型,我们发现降低DTI门槛会降低家庭负债和不良贷款,同时导致经济收缩,并通过限制低收入家庭获得信贷来加剧不平等。我们的研究结果表明,虽然宏观审慎政策(较低的DTI)本身能够以更大的不平等为代价获得更多的金融稳定,但与扩张性货币政策相结合可以在确保金融稳定的同时减少这些差距。
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引用次数: 0
Habit formation under stress: How COVID-19 reshaped Chinese consumer behavior — short-term disruptions and long-term behavioral entrenchment 压力下的习惯形成:新冠肺炎如何重塑中国消费者行为——短期破坏和长期行为巩固
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-11-06 DOI: 10.1016/j.strueco.2025.11.003
Wenling Liu, Ziqing Ma, Shuwen Xiao, Yuedong Xiao
During the COVID-19 pandemic, external shocks like social distancing, supply chain disruptions, and economic uncertainty reshaped consumption patterns, accelerating the shift from offline dependence toward digital, contactless, and precautionary savings-oriented habits. However, it remains unclear whether these changes represent temporary adaptations or persistent structural transformations. Using panel data on urban and rural household consumption across 115 prefecture-level cities from 2016 to 2022, supplemented by transaction records from the Taobao platform, this study employs difference-in-differences (DID) and regression discontinuity design (RDD) methodologies to identify the causal impact of the pandemic. By controlling for per capita disposable income, levels of digital economic development, and other confounding factors, we isolate the net effect of COVID-19 and evaluate both its short- and long-term influences. The analysis shows the pandemic reduced consumption across urban and rural residents, with gradual recovery. Urban areas experienced larger declines than rural regions, demonstrating a dichotomy between “structural contraction in cities versus adaptive recovery in rural areas”. Structurally, the pandemic induced a dual short-term phenomenon: consumption downgrading (a shift toward essential goods under survival pressure, reflected in a rising Engel coefficient) coexisted with consumption upgrading (a shift toward higher-quality, green products, and digital services driven by health and ecological awareness), while the long-term trajectory pointed toward upgrading. Offline consumption gave way to online platforms, with digital spending normalizing from emergency shifts. These findings reveal the shift from reactive reaction to habit formation, informing retail channel optimization, unlocking rural demand, and advancing green–digital integration to support high-quality post-pandemic economic recovery efforts.
在2019冠状病毒肺炎大流行期间,保持社交距离、供应链中断和经济不确定性等外部冲击重塑了消费模式,加速了人们从依赖线下向数字化、非接触式和预防性储蓄习惯的转变。然而,目前尚不清楚这些变化是暂时的适应还是持续的结构转变。本研究利用2016年至2022年115个地级市的城乡家庭消费面板数据,并辅以淘宝平台的交易记录,采用差分法(DID)和回归不连续设计(RDD)方法来确定疫情的因果影响。通过控制人均可支配收入、数字经济发展水平和其他混杂因素,我们隔离了COVID-19的净影响,并评估了其短期和长期影响。分析显示,疫情减少了城乡居民的消费,并逐渐恢复。城市地区的下降幅度大于农村地区,显示出“城市结构性收缩与农村地区适应性复苏”之间的二分法。从结构上看,疫情引发了一种双重短期现象:消费降级(在生存压力下向必需品转移,体现在恩格尔系数上升)与消费升级(在健康和生态意识驱动下向更高质量、绿色产品和数字服务转移)并存,而长期轨迹则指向升级。线下消费让位于线上平台,数字消费从紧急轮班常态化。这些发现揭示了从被动反应到习惯形成的转变,为零售渠道优化提供了信息,释放了农村需求,并推进了绿色数字一体化,以支持高质量的大流行后经济复苏努力。
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引用次数: 0
A synthetic investigation at the root causes of inflation in Greece 对希腊通货膨胀根源的综合调查
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-11-04 DOI: 10.1016/j.strueco.2025.11.002
Dimitris Paitaridis , Christos Pierros
In this paper, we examine the elasticities of the cost factors that drive prices in Greece. Based on Eichner, we apply an extended cost-plus pricing approach in a multi-sector panel model. Specifically, we integrate technological, fiscal and monetary factors in the standard Kaleckian price formula. Our results are able to explain the drivers of the current phase of inflation but also to highlight the impact of the re-structuring of the Greek economy that took place during the past decade on price formation. For instance, the pass through from intermediate input to output prices has increased significantly, since 2009. Additionally, the econometric model performs better when the sample is divided in Industry and Services. However, when firms engage in a deleveraging process the explanatory power of the cost-plus pricing framework is constrained.
在本文中,我们考察了驱动希腊价格的成本因素的弹性。在Eichner的基础上,我们在多部门面板模型中应用了扩展的成本加成定价方法。具体而言,我们将技术、财政和货币因素纳入标准卡列奇价格公式。我们的研究结果能够解释当前通胀阶段的驱动因素,同时也突出了过去十年希腊经济重组对价格形成的影响。例如,自2009年以来,中间投入价格向产出价格的传递显著增加。此外,当样本分为工业和服务业时,计量经济模型表现更好。然而,当企业参与去杠杆化过程时,成本加定价框架的解释力受到限制。
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引用次数: 0
Energy transition and structural change: A calibrated Stock-Flow Consistent Input–Output model 能源转型和结构变化:一个校准的库存流动一致的投入产出模型
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-10-31 DOI: 10.1016/j.strueco.2025.10.014
Mattia Pettena , Marco Raberto
The energy transition involves structural changes in the economy. Green utilities increase their investments, while brown utilities and fossil fuel producers shrink. These developments affect supply chains in expansionary and contractionary ways, respectively, and generate multiplier and accelerator effects.
We develop a Stock-Flow Consistent Input–Output macroeconomic model of the world economy to analyze these dynamics. It includes a production network comprising 27 industries, differentiating between key mining, manufacturing, service, and both green and brown electricity sectors. It is the first model of its kind to have each industry invest in distinct capital goods based on sector- and asset-specific requirements. All parameters related to production technologies capture real relationships and are derived from real-world data.
We have simulated three energy transition pathways envisioned by the International Energy Agency (IEA) by empirically implementing two parallel processes: (i) the increasing share of electricity generated by green utilities and (ii) the electrification of production techniques and household consumption.
The resulting dynamics yield several key insights. The net effect of the above-mentioned expansionary and contractionary forces is to boost GDP growth and entails a high investment share. The relative importance of industries supplying machinery and metals increases. Technological changes stemming from the transition yield mildly deflationary effects. Nevertheless, inflation increases because of rising wage rates. Electricity is the only product whose price decreases with the transition. The only scenario capable of achieving a decline in emissions is the one entailing the strongest transition effort. Finally, electricity production is much higher than projections by the IEA.
能源转型涉及经济的结构性变化。绿色公用事业增加了投资,而棕色公用事业和化石燃料生产商减少了投资。这些发展分别以扩张和收缩的方式影响供应链,并产生乘数效应和加速效应。我们建立了世界经济的库存-流量-一致投入-产出宏观经济模型来分析这些动态。它包括一个由27个行业组成的生产网络,区分了关键的采矿、制造业、服务业以及绿色和棕色电力部门。这是同类模型中第一个让每个行业根据特定行业和资产的要求投资于不同的资本品的模型。与生产技术相关的所有参数都捕获了真实的关系,并从现实世界的数据中推导出来。我们通过经验实施两个平行的过程,模拟了国际能源署(IEA)设想的三种能源转型途径:(i)绿色公用事业产生的电力份额不断增加,(ii)生产技术和家庭消费的电气化。由此产生的动态产生了几个关键的见解。上述扩张性和收缩性力量的净效应是促进GDP增长,并需要较高的投资份额。供应机械和金属的工业的相对重要性增加了。转型带来的技术变革产生了温和的通缩效应。然而,由于工资率的上升,通货膨胀率也在上升。电力是唯一价格随着转型而下降的产品。能够实现排放量下降的唯一方案是需要最强有力的过渡努力的方案。最后,发电量远高于国际能源署的预测。
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引用次数: 0
Data assets, supply chain spillovers, and corporate ESG development — Evidence from Chinese listed companies 数据资产、供应链溢出与企业ESG发展——来自中国上市公司的证据
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-10-30 DOI: 10.1016/j.strueco.2025.10.017
Ruibing Ji , Shengling Zhang , Wenxuan Cao , Yu Hao , Nuo Wang
Driven by the Sustainable Development Goals, corporate ESG performance has increasingly become a key indicator of high-quality development and corporate accountability. As an emerging production factor, data assets (DA) are reshaping firms’ resource allocation and governance models. Understanding how data assets affect ESG helps integrate digital transformation and sustainable development strategies. Motivated by both the current theoretical gap and the practical demands of digital governance, this study employs panel data on Chinese listed companies spanning 2009–2023 to examine the complex influence of DA on ESG. Results show that data assets enhance ESG over the long term, although a temporary early-stage dampening effect is observed. Mechanism analyses indicate that data assets indirectly influence ESG through three main channels: capability improvement, resource empowerment, and governance optimization. The moderating effects indicate that this influence is stronger when supported by robust physical infrastructure and a conducive institutional environment. Further analysis identifies a forward spillover effect, in which data assets significantly improve ESG performance in downstream firms through supply-chain linkages. This spillover is more pronounced in companies with proprietary data assets, high interdependence, and similar ownership structures. This study addresses a gap in the existing literature by incorporating both the nonlinear dynamics and spillover characteristics of DA. It reveals how digital resource allocation, through structural transformation, fosters sustainable transitions within firms and across supply chains, offering a practical foundation for managers and policymakers to promote synergy between data governance and green development.
在可持续发展目标的推动下,企业ESG绩效日益成为高质量发展和企业问责的关键指标。数据资产作为一种新兴的生产要素,正在重塑企业的资源配置和治理模式。了解数据资产如何影响ESG有助于整合数字化转型和可持续发展战略。基于当前理论空白和数字化治理的实践需求,本研究采用2009-2023年中国上市公司的面板数据,考察数据管理对ESG的复杂影响。结果表明,数据资产在长期内增强了ESG,尽管在早期观察到暂时的抑制效应。机制分析表明,数据资产通过能力提升、资源赋能和治理优化三个主要渠道间接影响ESG。调节效应表明,在坚实的物质基础设施和有利的制度环境的支持下,这种影响会更强。进一步分析发现了一种正向溢出效应,其中数据资产通过供应链联系显著改善下游企业的ESG绩效。这种溢出效应在拥有专有数据资产、高度相互依赖和类似所有权结构的公司中更为明显。本研究通过结合数据分析的非线性动力学和溢出特性,填补了现有文献的空白。它揭示了数字资源配置如何通过结构转型促进企业内部和供应链之间的可持续转型,为管理者和政策制定者促进数据治理与绿色发展之间的协同作用提供了实践基础。
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引用次数: 0
“Increasing returns through circularity: a theory of production residuals for sustainable circular transitions” 通过循环增加收益:可持续循环转型的生产剩余理论
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-10-30 DOI: 10.1016/j.strueco.2025.10.018
Giovanni Tagliani
The concepts of environmental sustainability and economic development, the former founded on the assumption of a planet with finite resources while the latter privileges growth driven by increasing returns, find their most difficult junction in the current era of climate change. Starting from the sustainable transition literature and structural dynamics models, this paper outlines a theory of production residuals showing how residuals are generated, their typology, and how to innovatively use them. The paper analyses the economic implications of residuals in the context of 'one way' and circular representations of production and contributes to the study of sustainable circular transitions.
环境可持续性和经济发展的概念,前者建立在地球资源有限的假设基础上,而后者则是在收益增加的驱动下实现增长的特权,这两个概念在当前气候变化的时代找到了最困难的结合点。本文从可持续转型文献和结构动力学模型出发,概述了生产剩余的理论,展示了剩余如何产生,它们的类型以及如何创新地使用它们。本文分析了“单向”和生产循环表示背景下剩余的经济含义,并有助于可持续循环过渡的研究。
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引用次数: 0
Is agricultural productivity a prerequisite for structural transformation? Evidence on the role of trade openness 农业生产力是结构转型的先决条件吗?关于贸易开放作用的证据
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-10-30 DOI: 10.1016/j.strueco.2025.10.016
Arnaud Daymard
A high agricultural productivity is usually seen as a precondition for the development of industry and services, but this idea relies crucially on the assumption of an economy closed to international trade. In a globalized world, can a country industrialize or tertiarize without prior agricultural development? There is still little practical knowledge of this possibility. In this paper, I assess the relevance of closed- versus open-economy models of structural transformation using data on the sectoral productivity levels of developed and developing countries over the 1950–2018 period. The empirical findings suggest that most countries behave approximately as closed economies. Therefore, except for small city-state countries, the emphasis on agricultural development to achieve industrialization and tertiarization is justified. Nonetheless, the results reveal that in Latin America and Africa, a high agricultural productivity causes tertiarization with little development of the industrial sector. This “premature deindustrialization” hints at the influence of specific barriers to the creation of industrial jobs: an adverse business environment for large manufacturing firms and a downward trend in the world prices of manufacturing goods.
高农业生产率通常被视为工业和服务业发展的先决条件,但这一观点主要依赖于一个不依赖国际贸易的经济体的假设。在一个全球化的世界里,一个国家能在没有农业发展的前提下实现工业化或三农化吗?关于这种可能性的实际知识仍然很少。在本文中,我使用1950-2018年期间发达国家和发展中国家部门生产率水平的数据,评估了结构转型的封闭经济模型与开放经济模型的相关性。实证研究结果表明,大多数国家的行为近似于封闭经济体。因此,除了小型城邦国家外,强调农业发展以实现工业化和第三化是合理的。然而,研究结果表明,在拉丁美洲和非洲,高农业生产率导致了三化,而工业部门的发展很少。这种“过早去工业化”暗示了对创造工业就业的具体障碍的影响:大型制造企业的不利商业环境和世界制造业产品价格的下降趋势。
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引用次数: 0
Exporting violence? Migration and violent conflict in Africa 出口暴力吗?非洲的移民和暴力冲突
IF 5.5 2区 经济学 Q1 ECONOMICS Pub Date : 2025-10-28 DOI: 10.1016/j.strueco.2025.10.013
Nixon S. Chekenya , Canicio Dzingirai
Climate change and demographic pressures are reshaping Africa’s security landscape. Extreme weather shocks disrupt livelihoods and often induce people to move, while many states face persistent violent conflict. Migration represents a potential connection between these two challenges, yet isolating its causal effect on conflict remains difficult due to endogeneity and measurement concerns. In this paper, we examine whether net international migration increases the incidence of violent conflict in Africa and assess if there are heterogenous effects across regions within Africa. We compile panel data for 54 African countries from 1997 to 2024, measuring net migration as the difference between inflows and outflows, and conflict incidence using geocoded event data. To address endogeneity, we instrument migration with historical rainfall variability (from 1901 to 1950), which shaped long-run settlement and mobility patterns but predates modern political institutions. Using a control function IV Poisson model suitable for equi-dispersed count data, we find that migration significantly increases conflict incidence, with effects concentrated in countries and regions in Africa with weak governance and economic stress. These results highlight the need for anticipatory governance strategies which address both mobility and fragility in contexts vulnerable to climate change and demographic pressure.
气候变化和人口压力正在重塑非洲的安全格局。极端天气冲击破坏了人们的生计,往往促使人们迁移,而许多国家则面临持续的暴力冲突。移民代表了这两个挑战之间的潜在联系,但由于内生性和衡量方面的考虑,孤立其对冲突的因果影响仍然很困难。在本文中,我们研究了净国际移民是否增加了非洲暴力冲突的发生率,并评估了非洲各地区之间是否存在异质性影响。我们编制了54个非洲国家从1997年到2024年的面板数据,衡量净移民流入和流出之间的差异,以及使用地理编码事件数据的冲突发生率。为了解决内生性问题,我们用历史降雨变化(1901年至1950年)来衡量移民,这形成了长期的定居和流动模式,但早于现代政治制度。利用适合等分散计数数据的控制函数IV泊松模型,我们发现移民显著增加了冲突发生率,且影响集中在治理薄弱和经济压力大的非洲国家和地区。这些结果突出表明,在易受气候变化和人口压力影响的情况下,需要制定前瞻性治理战略,解决流动性和脆弱性问题。
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Structural Change and Economic Dynamics
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