中国经济评论最新文献

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The long-term cognitive and schooling effects of childhood vaccinations in China 中国儿童接种疫苗对认知和学校教育的长期影响

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-10-20 DOI: 10.1016/j.chieco.2024.102293

Hamid R. Oskorouchi , Alfonso Sousa-Poza , David E. Bloom

By exploiting rich retrospective data from the China Health and Retirement Longitudinal Study on childhood immunization, socioeconomics, and health status, we assess the long-term effects of childhood vaccination on cognitive and educational outcomes in China. Applying an instrumental variable approach that resembles an unobserved natural experiment to different sets of control variables and subsamples, we estimate the average and local treatment effects of childhood vaccination. Our results confirm that immunization before the age of 15 has long-term positive and economically meaningful effects on non-health outcomes such as education and cognitive skills. These effects are strong, with vaccinated individuals enjoying about one additional year of schooling and performing better on several cognitive tests later in life. Finally, a causal mediation analysis shows that, although education mediates the effect of childhood immunization on later-life cognitive abilities, other factors (e.g., better child health) are more responsible for these long-term effects.

通过利用中国健康与退休纵向研究（China Health and Retirement Longitudinal Study）中有关儿童免疫接种、社会经济和健康状况的丰富回顾性数据，我们评估了儿童接种疫苗对中国认知和教育结果的长期影响。通过对不同的控制变量和子样本进行类似于无观测自然实验的工具变量方法，我们估算了儿童疫苗接种的平均和局部治疗效果。我们的结果证实，15 岁前的免疫接种对教育和认知技能等非健康结果具有长期积极的、有经济意义的影响。这些效应非常明显，接种疫苗的人可多上一年学，并在日后的几项认知测试中表现更佳。最后，因果中介分析表明，尽管教育对儿童免疫接种对日后认知能力的影响起中介作用，但其他因素（如更好的儿童健康）对这些长期影响的作用更大。

引用次数: 0

Unveiling the shadows: School bullying and students' ability erosions in Chinese compulsory schools 揭开阴影中国义务教育阶段校园欺凌与学生能力消退

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-10-18 DOI: 10.1016/j.chieco.2024.102292

Yunsen Li , Dan He , Yilin Wang , Guochang Zhao , Jing Yang

Drawing upon data from the National Children's Study of China, this research investigates the school bullying victimization and its associations with the ability erosions among students in Chinese schools. Three key findings emerge. First, results suggest that the primary factors affecting bullying victimization mainly include authoritarian parenting, limited positive social interactions on campus, adverse experiences, and exposure to teacher and peer smoking. Second, estimates indicate that bullying victimization is significantly associated with ability erosions, particularly among students from relatively advantaged backgrounds. The further Oster's test, falsification test, and reverse causality check confirm the validity of the associations and suggest some causal effect of victimization on the student outcomes. Lastly, the Oaxaca-Blinder decomposition shows that lower human capital investments derived from social interactions are the most significant contributors to the ability erosion linked to bullying victimization. These findings highlight the critical importance of social interactions both at home and in schools.

本研究利用中国全国儿童研究的数据，调查了中国学校中学生遭受校园欺凌的情况及其与能力削弱之间的关联。研究得出了三个重要发现。首先，研究结果表明，影响校园欺凌受害情况的主要因素包括家长专制、校园中积极的社会交往有限、不良经历以及教师和同伴吸烟。其次，估计结果表明，欺凌受害与能力侵蚀有显著关联，尤其是在背景相对优越的学生中。进一步的奥斯特检验、证伪检验和反向因果关系检验证实了这些关联的有效性，并表明受害对学生的结果产生了一定的因果效应。最后，奥克萨卡-布林德分解法显示，社会交往所带来的较低人力资本投资是造成与欺凌受害相关的能力削弱的最主要原因。这些发现凸显了家庭和学校中社会交往的重要性。

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引用次数: 0

The deterrent effect of environmental judicature on firms' pollution emissions: Evidence from a quasi-natural experiment in China 环境司法对企业污染排放的威慑效应：来自中国准自然实验的证据

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-10-11 DOI: 10.1016/j.chieco.2024.102291

Peng Zhou , Xiaoqi Huang , Frank M. Song

This paper investigates the deterrent effect of environmental judicature on firms' pollution emissions. Regarding the establishment of environmental courts (ECs) in China as a quasi-natural experiment, our staggered Difference-in-Differences (DID) estimation shows that strengthening environmental judicature has a negative, causal effect on firms' pollution emissions. The exogenous establishment of ECs decreases industrial firms' pollution emission intensity by approximately 7.8 %. Heterogeneity analysis shows that the negative effect of ECs on pollution emissions is particularly salient for firms in regions with weak environmental awareness, firms in industries with low competition, and firms with a high intensity of pollution emissions. Mechanism analysis indicates that the establishment of ECs enhances environmental justice and increases environmental violation costs, thereby having a deterrent effect on firms' pollution emissions. To comply with the more stringent environmental judicature, firms located in cities with ECs may temporarily cut their production, use more clean energy and buy more desulfurization equipment. In the long term, they may engage in more green and cooperative innovations, further substantiating the deterrent impact of stringent environmental judicature. Our findings can offer valuable insights for corporate green transformation and government pollution control.

本文研究了环境司法对企业污染排放的威慑作用。将中国设立环保法庭（ECs）作为一个准自然实验，我们的交错差分法（DID）估计表明，加强环境司法对企业的污染排放具有负向因果效应。外生设立环境委员会会使工业企业的污染排放强度降低约 7.8%。异质性分析表明，对于环境意识薄弱地区的企业、低竞争行业的企业以及高污染排放强度的企业而言，环境司法对污染排放的负效应尤为突出。机制分析表明，环境管理委员会的设立加强了环境正义，增加了环境违法成本，从而对企业的污染排放产生了威慑作用。为了遵守更严格的环境司法，位于设立环境管理委员会的城市的企业可能会暂时削减产量，使用更多清洁能源，购买更多脱硫设备。从长远来看，这些企业可能会进行更多的绿色创新和合作创新，从而进一步证实了严格环境司法的威慑性影响。我们的研究结果可为企业绿色转型和政府污染控制提供有价值的启示。

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引用次数: 0

How corruption prevails: A laboratory experiment 腐败是如何盛行的？实验室实验

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-10-09 DOI: 10.1016/j.chieco.2024.102290

Yefeng Chen , Yuli Ding , Lei Mao , Yiwen Pan , Xue Wang

Previous research has found the contagion effect in corruption, nevertheless the mechanisms underlying the contamination of corruption remain unexplored. In this paper, we varied different kinds of information relevant to corruption, which are the number(breadth) /the size(depth) /the maximum amount of corruption, exposed to participants in a laboratory experiment to testify how the salience of different information affects participants' corruption decisions. Our results show that participants are more likely to engage in corruption and provide a higher amount after they are informed of the information of peers' corrupt behaviors. We confirm that decreasing social norms cost related to corrupt behavior, belief of increased likelihood of finding a partner to reach corruption, and conforming to peers' behaviors are the main channels.

以往的研究已经发现了腐败的传染效应，但腐败传染的内在机制仍有待探索。在本文中，我们在实验室实验中向参与者暴露了不同种类的腐败相关信息，即腐败的数量（广度）、规模（深度）和最高金额，以验证不同信息的显著性如何影响参与者的腐败决策。我们的结果表明，参与者在获知同伴腐败行为的信息后，更有可能参与腐败，并提供更高的腐败金额。我们证实，降低与腐败行为相关的社会规范成本、相信找到腐败伙伴的可能性增加以及顺从同伴的行为是主要的渠道。

引用次数: 0

R&D project subsidy V.S. government innovation reward: The effectiveness on corporate innovation 研发项目补贴与美国政府创新奖励：对企业创新的影响

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-27 DOI: 10.1016/j.chieco.2024.102288

Yafei Li , Xiaoqi Dong , Jinping Sun

This paper compares the effectiveness of R&D project subsidies and government innovation rewards. Using a dataset of China's listed companies from 2008 to 2019, we investigate the associations of these two innovation grants with corporate innovation. The results indicate that both R&D project subsidy and government innovation reward can increase corporate innovation output. However, only government innovation reward can encourage private R&D investment. In addition, R&D project subsidy serves as an incentive role through the governance and financing mechanisms, whereas the government innovation reward has only a governance mechanism. Furthermore, the R&D project subsidy has a relatively poor impact on large firms and state-owned enterprises (SOEs), whereas the government innovation reward can still motivate their innovation. This study contributes to the expanding body of literature by providing diverse evidence of innovation grants from the perspective of the government subsidizing stage.

本文比较了研发项目补贴和政府创新奖励的效果。利用 2008 年至 2019 年的中国上市公司数据集，我们研究了这两种创新补助与企业创新的关联。结果表明，研发项目补助和政府创新奖励都能提高企业的创新产出。然而，只有政府创新奖励才能鼓励私人研发投资。此外，研发项目补贴通过治理机制和融资机制发挥激励作用，而政府创新奖励只有治理机制。此外，研发项目补贴对大型企业和国有企业的影响相对较小，而政府创新奖励仍能激励其创新。本研究从政府补贴阶段的角度提供了创新补助的各种证据，为不断扩展的文献体系做出了贡献。

引用次数: 0

The effect of political connections on the distribution of firm performance 政治关系对公司业绩分布的影响

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-27 DOI: 10.1016/j.chieco.2024.102289

Xuan Li , Yanchen Wang

Political connections have the potential to redistribute rents toward connected firms, and away from non-connected ones. In this paper, we show that this is indeed the case for Chinese listed firms during 2008–2015. Connected firms (as proxied by college ties between senior management and local leaders) have higher Return on Assets (ROA) and more government subsidies, while non-connected firms experience a significant decline in both ROA and subsidy when executive turnover or political rotation leads to the creation of connected firms in the city. The differential effects on non-connected firms within the same industry versus those in different industries suggest that non-connected firms outside the industry are more adversely affected due to leaders' attempts to mask favoritism with broad industrial policy.

政治关系有可能将租金重新分配给有关系的公司，而非无关系的公司。本文表明，2008-2015 年间中国上市公司的情况确实如此。当高管更替或政治轮换导致城市中出现关联企业时，关联企业（以高管与地方领导之间的学院关系为代表）拥有更高的资产回报率（ROA）和更多的政府补贴，而非关联企业的资产回报率和补贴都会显著下降。同一产业内的非关联企业与不同产业内的非关联企业受到的不同影响表明，由于领导者试图用广泛的产业政策掩盖偏袒，产业外的非关联企业受到的不利影响更大。

引用次数: 0

Waves or ripples: African countries risk shocks and the survival of Chinese exports to Africa 波浪还是涟漪？非洲国家的风险冲击与中国对非出口的生存之道

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-27 DOI: 10.1016/j.chieco.2024.102287

Xinjian Ye , Mingyong Lai , Hao Xiao , Dinggen Zhou

This paper examines the impact of risk shocks in Africa on the stability of Chinese firms' export relationships by analyzing risk fluctuations and using survival analysis to measure their effect. The findings reveal that risk shocks significantly increase the survival risk of Chinese firms' export relationships, leading to a notable reduction in stability. Private and non-foreign firms are more vulnerable to these risks, but certain market strategies such as learning-by-doing, learning from neighboring firms, and waiting strategies can effectively mitigate their adverse effects on export stability. Our findings indicate that certain market strategies, such as learning-by-doing, learning from neighboring firms, and waiting strategies, can effectively mitigate the adverse effects of risk shocks on export stability. Interestingly, a nonlinear marginal effect is observed in the case of the waiting-timing strategy. However, adopting a multi-destination strategy tends to worsen the negative impact of risk shocks on export stability, especially for private firms. Furthermore, non-market strategies employed by firms that promote government diplomatic behavior help reduce this negative impact.

本文通过分析风险波动并利用生存分析法衡量其影响，研究了非洲风险冲击对中国企业出口关系稳定性的影响。研究结果表明，风险冲击大大增加了中国企业出口关系的生存风险，导致稳定性明显下降。民营企业和非外资企业更容易受到这些风险的影响，但某些市场策略，如边做边学、向周边企业学习和等待策略，可以有效缓解这些风险对出口稳定性的不利影响。我们的研究结果表明，某些市场策略，如边做边学、向周边企业学习和等待策略，可以有效缓解风险冲击对出口稳定性的不利影响。有趣的是，在等待时机策略中观察到了非线性边际效应。然而，采取多目的地战略往往会加剧风险冲击对出口稳定性的负面影响，尤其是对私营企业而言。此外，企业采用的促进政府外交行为的非市场战略有助于减少这种负面影响。

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引用次数: 0

Too old to spend? Understanding the consumption of the elderly in China 老得没钱花？了解中国老年人的消费情况

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-23 DOI: 10.1016/j.chieco.2024.102286

Geran Tian , Changlun Jin , Weixing Wu

The aging of the population is a major phenomenon around the world, and it is of paramount importance to understand the economic behaviors of the elderly. By analyzing a proprietary account-level dataset from a major tech company in China, we attempt to clarify the consumption patterns of the elderly and establish several stylized facts. First, we observe a smooth decrease in consumption since the age of 40, instead of a structural reduction at any age. Second, the composition of consumption varies significantly among cohorts. The elderly spend significantly less on appearance-related categories and entertainment but not on dining, which contradicts the popular argument that food expenditure is substituted by home production (i.e. cooking at home). Third, the elderly is less likely to use consumer credit than the younger generations but the elderly that already become consumer credit users exhibit usage patterns not significantly different from the young. Lastly, with the COVID-19 pandemic, the elderly increase their medical and health expenditures but reduce total consumption. We discuss the plausible reasons why some of our findings are in contrast with the existing literature.

人口老龄化是全球的一个重要现象，因此了解老年人的经济行为至关重要。通过分析中国一家大型科技公司专有的账户级数据集，我们试图厘清老年人的消费模式，并确定几个典型事实。首先，我们观察到自 40 岁起消费平稳下降，而不是在任何年龄都出现结构性下降。其次，不同群体的消费构成差异显著。老年人在与外表有关的类别和娱乐方面的支出明显减少，但在餐饮方面的支出却没有减少，这与人们普遍认为食品支出被家庭生产（即在家做饭）所替代的观点相矛盾。第三，与年轻一代相比，老年人使用消费信贷的可能性较低，但已经成为消费信贷用户的老年人在使用模式上与年轻人没有显著差异。最后，由于 COVID-19 的流行，老年人增加了医疗和健康支出，但减少了总消费。我们将讨论我们的一些发现与现有文献形成对比的合理原因。

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引用次数: 0

Why has China invested heavily in countries with weak market environments? A new explanation and implications for China-Africa economic cooperation 中国为何在市场环境薄弱的国家大量投资？新的解释及其对中非经济合作的影响

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-22 DOI: 10.1016/j.chieco.2024.102245

Changyuan Luo , Zhitao Chen

This paper investigates why China has invested heavily in countries with weak market environments. We provide a theoretical hypothesis that experiences and abilities acquired by Chinese enterprises in dealing with incomplete market environments at home help them conduct investment abroad. We match many databases and use government work experience of executives to capture the enterprise's experiences and abilities. The results show that the government work experience of executives helps enterprises overcome the constraints of unfavorable market environments in the destination country, and this effect is strongly reflected in host countries where resources are scarce, wages are low, and patent stocks are limited. These research findings have important implications for economic cooperation between China and Africa. Chinese enterprises have grown in an incomplete market environment. The experience they have accumulated is helpful for expanding investment opportunities in the African market, which has a positive impact on bilateral economic cooperation.

本文探讨了中国在市场环境薄弱的国家大量投资的原因。我们提出了一个理论假设，即中国企业在应对国内不完全市场环境时获得的经验和能力有助于其在海外进行投资。我们匹配了许多数据库，并利用高管的政府工作经历来捕捉企业的经验和能力。结果表明，高管的政府工作经历有助于企业克服目的国不利市场环境的制约，这一效应在资源稀缺、工资水平低、专利存量有限的东道国体现得非常明显。这些研究成果对中非经济合作具有重要意义。中国企业是在不完全的市场环境中成长起来的。它们积累的经验有助于扩大在非洲市场的投资机会，从而对双边经济合作产生积极影响。

引用次数: 0

How does enterprise digitalization affect corporate carbon emission in China: A firm-level study 企业数字化如何影响中国企业的碳排放？企业层面的研究

IF 5.2 1区经济学 Q1 ECONOMICS

中国经济评论

Pub Date : 2024-09-18 DOI: 10.1016/j.chieco.2024.102285

Yang Yang , Pundarik Mukhopadhaya , Zhuangxiong Yu

This paper develops a theoretical framework to examine the influence of enterprise digitalization on corporate carbon emissions. Then it empirically measures the extent of digitalization in Chinese enterprises through their share of intermediate inputs to their value added from information and communication technologies. Data from the China Enterprise Tax Surveys and Inter-Country Input-Output Tables from 2007 to 2016 are used for the empirical analysis. It is noted that digitalization in enterprise manufacturing leads to an increase in corporate carbon emissions (CCE). The impact from the service sector, however, is not significant. The exacerbation of CCE is observed primarily among low-leverage enterprises, downstream industries, and firms located in relatively lower-income regions. In accordance with the theoretical model, it is observed that enterprise digitalization intensifies CCE by crowding out investment in environmentally friendly green production and by altering production patterns towards mass production. However, an efficient market mechanism effectively mitigates this exacerbation effect. The findings reveal the misalignment of enterprise digitalization transformation modes with long-term “low carbon” objectives, thereby exposing the need for appropriate policy interventions.

本文建立了一个理论框架来研究企业数字化对企业碳排放的影响。然后，本文通过信息和通信技术的中间投入占企业增加值的比重来实证衡量中国企业的数字化程度。实证分析使用的数据来自 2007 年至 2016 年的中国企业纳税调查和国家间投入产出表。我们注意到，企业制造业的数字化导致了企业碳排放（CCE）的增加。然而，服务业的影响并不显著。企业碳排放的加剧主要体现在低杠杆率企业、下游产业和相对低收入地区的企业中。根据理论模型，企业数字化会挤出对环保型绿色生产的投资，并改变生产模式，使其向大规模生产方向发展，从而加剧了幼儿保育。然而，高效的市场机制可以有效缓解这种加剧效应。研究结果揭示了企业数字化转型模式与长期 "低碳 "目标的错位，从而暴露了适当政策干预的必要性。

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