Pub Date : 2023-11-09DOI: 10.1080/09638199.2023.2279253
Ying Jiang, Dongshen Cheng
AbstractWe investigate the impacts of local-demand quantity and quality on firms’ position in global value chains, using the microdata of Chinese enterprises from 2000 to 2014. The analysis finds that both the quantity and quality of local demand can significantly promote the position of enterprises in global value chains. The quantity of local demand affects firms’ upgrading in global value chains through economies of scale, economies of scope, and the technology spill-over effect. Enterprises with the advantages of differentiation, localization, internalization, and higher capital intensity are more capable of improving their positions in global value chains through the quality of local demand. Comparing across different stages, types, and standardized regression coefficients, we find that quality rather than the quantity of local demand is more conducive to firms’ upgrading in global value chains. Furthermore, the quantity and quality of local demand have a mutually reinforcing and complementary relationship in promoting firms’ upgrading in global value chains.KEYWORDS: Local demandfirms’ upgradingglobal value chainsSubject classification codes:: C33F61L10L20 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Social Science Fund of China [grant number 21AJL016] and Sichuan Soft Science Project [grant number 24RKX0434].
{"title":"Local demand and firms’ upgrading in global value chains: Evidence from China","authors":"Ying Jiang, Dongshen Cheng","doi":"10.1080/09638199.2023.2279253","DOIUrl":"https://doi.org/10.1080/09638199.2023.2279253","url":null,"abstract":"AbstractWe investigate the impacts of local-demand quantity and quality on firms’ position in global value chains, using the microdata of Chinese enterprises from 2000 to 2014. The analysis finds that both the quantity and quality of local demand can significantly promote the position of enterprises in global value chains. The quantity of local demand affects firms’ upgrading in global value chains through economies of scale, economies of scope, and the technology spill-over effect. Enterprises with the advantages of differentiation, localization, internalization, and higher capital intensity are more capable of improving their positions in global value chains through the quality of local demand. Comparing across different stages, types, and standardized regression coefficients, we find that quality rather than the quantity of local demand is more conducive to firms’ upgrading in global value chains. Furthermore, the quantity and quality of local demand have a mutually reinforcing and complementary relationship in promoting firms’ upgrading in global value chains.KEYWORDS: Local demandfirms’ upgradingglobal value chainsSubject classification codes:: C33F61L10L20 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis work was supported by the National Social Science Fund of China [grant number 21AJL016] and Sichuan Soft Science Project [grant number 24RKX0434].","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":" 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135291498","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-06DOI: 10.1080/09638199.2023.2278710
Fan Jiaojiao, Shi Qinghua
AbstractThis paper investigates the impact of trade liberalisation on the rural labour force in China, with a particular focus on labour mobility and off-farm employment. The analysis utilises micro data from the National Fixed Point Survey and Chinese manufacturing firms. The identification strategy relies on combining information on the initial province labour and product market structure with the exogenous tariff reduction schedule over WTO accession and distinguishes between output markets and intermediate input tariffs. The results are as follows: First, the reduction of output tariffs does not promote rural labour mobility, whereas the reduction of input tariffs has a positive impact on mobility. Additionally, output tariffs reduce off-farm employment income and time, while input tariffs increase them. This conclusion is applicable only to low-skilled labour. Second, the tariff reduction significantly affects total wages and the number of employees in firms, as supported by macro data. This suggests that tariff cuts have implications for firm employment and, consequently, rural employment. Third, tariff cuts have a more pronounced effect on young individuals, those with lower levels of education, and the female workforce. Therefore, the interests of these groups should be fully considered in the process of further import liberalisation and tariff reduction.KEYWORDS: Trade liberalisationlabour mobilityoff-farm employmentJEL CLASSIFICATIONs: F14F16J20Q10 AcknowledgementThe authors gratefully acknowledge the helpful reviews and comments from the editors and anonymous reviewers, which improved this manuscript considerably. Certainly, all remaining errors are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 According to the 《Migrant Worker Monitoring Survey Report 2010》 released by the National Bureau of Statistics.Additional informationFundingThis work was supported by the following funding sources: Zhejiang Provincial Philosophy and Social Sciences Planning Project [grant number: 24NDQN17Z]; National Social Science Foundation of China [grant numbers: 22BJY011, 18ZDA045, 21&ZD077]; National Natural Science Foundation of China [grant numbers: 72173085, 71973094, 71833003]; Social Science Pre-Research Zhejiang University of Technology [grant number: SKY-ZX-20220249]; Humanities and Social Science Research Project of Zhejiang Education Department [grant number: Y202248789].
{"title":"Trade liberalisation and off-farm employment of the rural labour force: Evidence from China’s WTO accession","authors":"Fan Jiaojiao, Shi Qinghua","doi":"10.1080/09638199.2023.2278710","DOIUrl":"https://doi.org/10.1080/09638199.2023.2278710","url":null,"abstract":"AbstractThis paper investigates the impact of trade liberalisation on the rural labour force in China, with a particular focus on labour mobility and off-farm employment. The analysis utilises micro data from the National Fixed Point Survey and Chinese manufacturing firms. The identification strategy relies on combining information on the initial province labour and product market structure with the exogenous tariff reduction schedule over WTO accession and distinguishes between output markets and intermediate input tariffs. The results are as follows: First, the reduction of output tariffs does not promote rural labour mobility, whereas the reduction of input tariffs has a positive impact on mobility. Additionally, output tariffs reduce off-farm employment income and time, while input tariffs increase them. This conclusion is applicable only to low-skilled labour. Second, the tariff reduction significantly affects total wages and the number of employees in firms, as supported by macro data. This suggests that tariff cuts have implications for firm employment and, consequently, rural employment. Third, tariff cuts have a more pronounced effect on young individuals, those with lower levels of education, and the female workforce. Therefore, the interests of these groups should be fully considered in the process of further import liberalisation and tariff reduction.KEYWORDS: Trade liberalisationlabour mobilityoff-farm employmentJEL CLASSIFICATIONs: F14F16J20Q10 AcknowledgementThe authors gratefully acknowledge the helpful reviews and comments from the editors and anonymous reviewers, which improved this manuscript considerably. Certainly, all remaining errors are our own.Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 According to the 《Migrant Worker Monitoring Survey Report 2010》 released by the National Bureau of Statistics.Additional informationFundingThis work was supported by the following funding sources: Zhejiang Provincial Philosophy and Social Sciences Planning Project [grant number: 24NDQN17Z]; National Social Science Foundation of China [grant numbers: 22BJY011, 18ZDA045, 21&ZD077]; National Natural Science Foundation of China [grant numbers: 72173085, 71973094, 71833003]; Social Science Pre-Research Zhejiang University of Technology [grant number: SKY-ZX-20220249]; Humanities and Social Science Research Project of Zhejiang Education Department [grant number: Y202248789].","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"44 20","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135681648","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-06DOI: 10.1080/09638199.2023.2279247
Tianding Zhang, Sumei Gan
AbstractBased on the experience of developed countries, the production and export of intermediate goods have been observed to foster innovation within firms. This study investigates whether China's export of intermediate products has significantly enhanced the independent innovation capability of China’s firms. Using microdata and patent applications as a measure of innovation, we adopt the staggered PSM-DID method to explore the influence of China’s intermediate exports on firm innovation. We find that China's export of intermediate goods positively influences firm innovation, particularly utility patents. Domestic firms benefit more from this effect than foreign firms, and medium-high technology industries experience the most significant innovation impact. The export of intermediate goods stimulates innovation through the following channels: scale economies and employment structure optimization. These findings shed light on China's evolving innovation landscape.KEYWORDS: Exports of intermediate goodsfirm innovationstaggered PSM-DIDJEL Classifications: F02F15O31 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Trade data are derived from the UN COMTRADE database.2 These are calculated by the authors from the UN database.3 This paper is mainly based on the results of the dataset from 2000 to 2007, and to ensure the robustness of this result, we also re-estimate using the period 2011–2013.4 However, one crucial issue with staggered DID is the presence of heterogeneous treatment effects, meaning that the same treatment's impact can vary among individuals. Traditional two-way fixed-effect models may introduce potential bias in such cases. To address this concern, in the robustness check conducted in this paper, we employ a method proposed by De Chaisemartin and D’Haultfœuille (Citation2020) to re-estimate the model and mitigate this problem.5 To ensure the reliability of the estimation results, the kernel matching, and Mahalanobis matching methods are also tried in the robustness analysis.6 The empirical results based on the dataset for the period 2011–2013 are shown in Appendix Table A6, which are consistent with those based on the period 2000–2007. It should be noted that we did not use TFP as a control variable when performing the robustness check, because this dataset lacks the relevant indicators for calculating TFP.Additional informationFundingThis work was supported by National Natural Science Foundation of China: [Grant Number 71673205]; the Fundamental Research Funds for the Central Universities: [Grant Number 2023YJ10501].
{"title":"Exports of intermediate goods and innovation: Evidence from China’s firms","authors":"Tianding Zhang, Sumei Gan","doi":"10.1080/09638199.2023.2279247","DOIUrl":"https://doi.org/10.1080/09638199.2023.2279247","url":null,"abstract":"AbstractBased on the experience of developed countries, the production and export of intermediate goods have been observed to foster innovation within firms. This study investigates whether China's export of intermediate products has significantly enhanced the independent innovation capability of China’s firms. Using microdata and patent applications as a measure of innovation, we adopt the staggered PSM-DID method to explore the influence of China’s intermediate exports on firm innovation. We find that China's export of intermediate goods positively influences firm innovation, particularly utility patents. Domestic firms benefit more from this effect than foreign firms, and medium-high technology industries experience the most significant innovation impact. The export of intermediate goods stimulates innovation through the following channels: scale economies and employment structure optimization. These findings shed light on China's evolving innovation landscape.KEYWORDS: Exports of intermediate goodsfirm innovationstaggered PSM-DIDJEL Classifications: F02F15O31 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Trade data are derived from the UN COMTRADE database.2 These are calculated by the authors from the UN database.3 This paper is mainly based on the results of the dataset from 2000 to 2007, and to ensure the robustness of this result, we also re-estimate using the period 2011–2013.4 However, one crucial issue with staggered DID is the presence of heterogeneous treatment effects, meaning that the same treatment's impact can vary among individuals. Traditional two-way fixed-effect models may introduce potential bias in such cases. To address this concern, in the robustness check conducted in this paper, we employ a method proposed by De Chaisemartin and D’Haultfœuille (Citation2020) to re-estimate the model and mitigate this problem.5 To ensure the reliability of the estimation results, the kernel matching, and Mahalanobis matching methods are also tried in the robustness analysis.6 The empirical results based on the dataset for the period 2011–2013 are shown in Appendix Table A6, which are consistent with those based on the period 2000–2007. It should be noted that we did not use TFP as a control variable when performing the robustness check, because this dataset lacks the relevant indicators for calculating TFP.Additional informationFundingThis work was supported by National Natural Science Foundation of China: [Grant Number 71673205]; the Fundamental Research Funds for the Central Universities: [Grant Number 2023YJ10501].","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"44 8","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135681654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-05DOI: 10.1080/09638199.2023.2277779
Kazunobu Hayakawa, Taiyo Yoshimi
AbstractThis paper considers the case where multiple tariff schemes (e.g. general and preferential schemes) are available between trading countries. We incorporate these tariffs into gravity equations and estimate them by the Pseudo-Poisson maximum likelihood technique. The results show that omitting either tariff type leads to significant estimates biases. If fixed effects to control other tariffs are not included in the model, both preferential and general tariffs are to be introduced in the gravity equation. Indeed, some estimation results for precision metals show that reducing both types of tariffs contributes to significantly increasing trade values. However, reducing general tariffs does not always have a trade-enhancing effect. In leather products, for example, its impact was insignificant. Nevertheless, the reduction of preferential tariffs was again found to increase trade values significantly.KEYWORDS: Gravitytariffsregional trade agreementsJEL Classifications: F15F53 AcknowledgementWe would like to thank Kyoji Fukao, Norikatsu Hiraide, Naoto Jinji, Fukunari Kimura, Yoshimasa Komoriya, Hitoshi Sato, Kenta Yamanouchi, and the seminar participants at Keio University, Kangwon National University, the Economic Research Institute for ASEAN and East Asia (ERIA), the Nagoya International Economics Study Group (NIESG), the Japan Society of International Economics, the Japanese Economic Association, the Western Economic Association International (WEAI), and the Institute of Developing Economies (IDE-JETRO).Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 The earlier studies focused on trade by a single country. The examples include Trefler (Citation2004), Romalis (Citation2007), and Debaere and Mostashari (Citation2010). Also, the recent US-China trade disputes increased the number of studies on the trade effects of tariffs in the US or China (Amiti, Redding, and Weinstein Citation2019; Amiti, Redding, and Weinstein Citation2020; Fajgelbaum et al. Citation2020; Ma, Ning, and Xu Citation2021).2 Specifically, imports in Australia from the United States or Canada are approximately 50%. The share of European Union imports from Mexico is about 80%. A similar share can be found in the case of U.S. imports from Australia.3 In the empirical part, we define products at the tariff-section level, i.e., the industry level.4 Following Helpman, Melitz, and Rubinstein (Citation2008) and Helpman, Melitz, and Yeaple (Citation2004), we assume exporters pay fixed costs for products to every destination while dealing with multiple destinations simultaneously. Hence, they cannot save the total fixed costs based on economies of scale. A similar situation is assumed for the fixed cost for RTA usage. These cases are not examined to ensure the model's tractability and help develop an explicit gravity equation.5 We also employ the assumption used in Chaney (Citation2008) that the total mass of potential entrants in each country
{"title":"Tariff rates in gravity","authors":"Kazunobu Hayakawa, Taiyo Yoshimi","doi":"10.1080/09638199.2023.2277779","DOIUrl":"https://doi.org/10.1080/09638199.2023.2277779","url":null,"abstract":"AbstractThis paper considers the case where multiple tariff schemes (e.g. general and preferential schemes) are available between trading countries. We incorporate these tariffs into gravity equations and estimate them by the Pseudo-Poisson maximum likelihood technique. The results show that omitting either tariff type leads to significant estimates biases. If fixed effects to control other tariffs are not included in the model, both preferential and general tariffs are to be introduced in the gravity equation. Indeed, some estimation results for precision metals show that reducing both types of tariffs contributes to significantly increasing trade values. However, reducing general tariffs does not always have a trade-enhancing effect. In leather products, for example, its impact was insignificant. Nevertheless, the reduction of preferential tariffs was again found to increase trade values significantly.KEYWORDS: Gravitytariffsregional trade agreementsJEL Classifications: F15F53 AcknowledgementWe would like to thank Kyoji Fukao, Norikatsu Hiraide, Naoto Jinji, Fukunari Kimura, Yoshimasa Komoriya, Hitoshi Sato, Kenta Yamanouchi, and the seminar participants at Keio University, Kangwon National University, the Economic Research Institute for ASEAN and East Asia (ERIA), the Nagoya International Economics Study Group (NIESG), the Japan Society of International Economics, the Japanese Economic Association, the Western Economic Association International (WEAI), and the Institute of Developing Economies (IDE-JETRO).Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 The earlier studies focused on trade by a single country. The examples include Trefler (Citation2004), Romalis (Citation2007), and Debaere and Mostashari (Citation2010). Also, the recent US-China trade disputes increased the number of studies on the trade effects of tariffs in the US or China (Amiti, Redding, and Weinstein Citation2019; Amiti, Redding, and Weinstein Citation2020; Fajgelbaum et al. Citation2020; Ma, Ning, and Xu Citation2021).2 Specifically, imports in Australia from the United States or Canada are approximately 50%. The share of European Union imports from Mexico is about 80%. A similar share can be found in the case of U.S. imports from Australia.3 In the empirical part, we define products at the tariff-section level, i.e., the industry level.4 Following Helpman, Melitz, and Rubinstein (Citation2008) and Helpman, Melitz, and Yeaple (Citation2004), we assume exporters pay fixed costs for products to every destination while dealing with multiple destinations simultaneously. Hence, they cannot save the total fixed costs based on economies of scale. A similar situation is assumed for the fixed cost for RTA usage. These cases are not examined to ensure the model's tractability and help develop an explicit gravity equation.5 We also employ the assumption used in Chaney (Citation2008) that the total mass of potential entrants in each country ","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"73 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135725949","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-05DOI: 10.1080/09638199.2023.2262615
Sok-Gee Chan, Wai-Mun Har, Kanagi Kanapathy, Saban Celik, Bora Aktan
AbstractThis study investigates the role of foreign direct investment (FDI) and its country-of-origin in technology transfer. Using data of 95 countries from 2008 to 2019, results indicate that net inflows of the FDI are positively related to technological transfer especially in developing countries. This is consistent with the findings that show fewer resources endowed countries benefited from advanced technologies and management know-how. Furthermore, results suggest different country-of-origin affects the technology transfer of the host economy differently. These results are consistent with studies that suggest the FDI origins are crucial to expose firms with variety of technologies and management practices. Results from quantile analysis prove that there is an existence of a threshold for the developed and developing countries to gain from the country-of-origin of the FDI. Therefore, we need to relook at the investment policies of the host countries to maximize the benefits from different sources of FDI.KEYWORDS: Foreign direct investmentcountry-of-origintechnology transfergeneralized method of momentsquantile analysisJEL Classifications: F21O14E23 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis research is supported by Fundamental Research Grant Scheme [grant number FRGS/1/2020/SS0/UM/02/8].
{"title":"Country-of-origin effects on technology transfer in foreign direct investment","authors":"Sok-Gee Chan, Wai-Mun Har, Kanagi Kanapathy, Saban Celik, Bora Aktan","doi":"10.1080/09638199.2023.2262615","DOIUrl":"https://doi.org/10.1080/09638199.2023.2262615","url":null,"abstract":"AbstractThis study investigates the role of foreign direct investment (FDI) and its country-of-origin in technology transfer. Using data of 95 countries from 2008 to 2019, results indicate that net inflows of the FDI are positively related to technological transfer especially in developing countries. This is consistent with the findings that show fewer resources endowed countries benefited from advanced technologies and management know-how. Furthermore, results suggest different country-of-origin affects the technology transfer of the host economy differently. These results are consistent with studies that suggest the FDI origins are crucial to expose firms with variety of technologies and management practices. Results from quantile analysis prove that there is an existence of a threshold for the developed and developing countries to gain from the country-of-origin of the FDI. Therefore, we need to relook at the investment policies of the host countries to maximize the benefits from different sources of FDI.KEYWORDS: Foreign direct investmentcountry-of-origintechnology transfergeneralized method of momentsquantile analysisJEL Classifications: F21O14E23 Disclosure statementNo potential conflict of interest was reported by the author(s).Additional informationFundingThis research is supported by Fundamental Research Grant Scheme [grant number FRGS/1/2020/SS0/UM/02/8].","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"135 43","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135725053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-01DOI: 10.1080/09638199.2023.2271571
Zeyi Yu, Raima Nazar, Sajid Ali
AbstractTrade uncertainty leads to fluctuations in global trade dynamics and their potential impacts on environmental conditions, prompting concerns about how trade policies and practices may influence environmental sustainability and pollution levels. The present investigation desires to probe the correlation between trade uncertainty and environmental quality in the top 10 economies known for high levels of trade uncertainty (the USA, China, the UK, Japan, South Korea, Italy, Germany, France, Spain, and Australia). Previous studies have consistently explored this relationship using panel data analysis, which uncovered distinct and separate correlations in specific countries. The existing work applies a distinctive tool, ‘Quantile-on-Quantile’, to analyze the interdependence of time series data within all nations. The outcomes of this research disclose that trade uncertainty predominantly has a positive impact on environmental quality in most nations, particularly within particular segments of the distribution of data. Furthermore, this research highlights the diverse levels of asymmetries in the correlation between these variables across distinct countries. In addition, the outcomes demonstrate that the extent of asymmetry between the variables varies from one economy to another, underscoring the importance for policymakers to exercise careful emphasis when executing trade-related uncertainty and environmental sustainability policies.KEYWORDS: Trade uncertaintyCO2 emissionsquantile estimationJEL CLASSIFICATIONS: F18F1F Disclosure statementNo potential conflict of interest was reported by the author(s).
{"title":"Asymmetric trade uncertainty-environmental quality nexus: evidence from quantile estimation","authors":"Zeyi Yu, Raima Nazar, Sajid Ali","doi":"10.1080/09638199.2023.2271571","DOIUrl":"https://doi.org/10.1080/09638199.2023.2271571","url":null,"abstract":"AbstractTrade uncertainty leads to fluctuations in global trade dynamics and their potential impacts on environmental conditions, prompting concerns about how trade policies and practices may influence environmental sustainability and pollution levels. The present investigation desires to probe the correlation between trade uncertainty and environmental quality in the top 10 economies known for high levels of trade uncertainty (the USA, China, the UK, Japan, South Korea, Italy, Germany, France, Spain, and Australia). Previous studies have consistently explored this relationship using panel data analysis, which uncovered distinct and separate correlations in specific countries. The existing work applies a distinctive tool, ‘Quantile-on-Quantile’, to analyze the interdependence of time series data within all nations. The outcomes of this research disclose that trade uncertainty predominantly has a positive impact on environmental quality in most nations, particularly within particular segments of the distribution of data. Furthermore, this research highlights the diverse levels of asymmetries in the correlation between these variables across distinct countries. In addition, the outcomes demonstrate that the extent of asymmetry between the variables varies from one economy to another, underscoring the importance for policymakers to exercise careful emphasis when executing trade-related uncertainty and environmental sustainability policies.KEYWORDS: Trade uncertaintyCO2 emissionsquantile estimationJEL CLASSIFICATIONS: F18F1F Disclosure statementNo potential conflict of interest was reported by the author(s).","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"374 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135321512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-11-01DOI: 10.1080/09638199.2023.2274854
Wilkista Lore Obiero, Seher Gülşah Topuz
AbstractThis study aims to investigate the direction of causality between income inequality and growth, income inequality and debt, and debt and growth for 11 selected countries in SSA countries (Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia). The panel bootstrap causality approach is applied to these countries from 1980 to 2018. Inequality is represented using Gini coefficient, Palma ratio, and Theil index. The findings show that there is at least a one-way causal relationship between public debt and inequality in Botswana, Ghana, Kenya, Malawi, Nigeria, Rwanda, South Africa, Tanzania, and Uganda, between inequality and growth in Botswana, Lesotho, Nigeria, and South Africa and between growth and debt in Botswana, Rwanda, South Africa, and Uganda. Empirical results imply that the relations between the relevant variables in the Sub-Saharan African countries may vary according to the specific characteristics of these countries. To the best of our knowledge, this is the first paper to analyse the impact of these three macroeconomic variables together.KEYWORDS: Income inequalitypublic debteconomic growthpanel bootstrap causality approachJel Classifications: C1D3H63010 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Odusola et al. (Citation2017) states that more than half of the 19 most unequal countries in the world are in Sub-Saharan Africa (hereafter SSA).2 SSA countries refers to countries in Sub Sahara Africa.3 Investing debt in nonproductive activities like war can lead to debt distress whereby there is accumulation of unpaid debts, and the country is unable to fulfill all its obligations including interest rate repayment.4 According to Seery, Okanda, and Lawson (Citation2019) Africa is the second most unequal continent in the world with the five richest men in Africa owning more wealth than the bottom 50% combined.5 The list of SSA countries considered in this study include Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia. The selection of the countries is because they are representative of the different income groups in SSA covering countries in the low-income, lower-middle and upper-middle-income country classifications. This ensures that a wide range of economic conditions are represented and allow for easier cross-country comparisons. By studying countries from each income group, we can gain insights into the unique challenges and opportunities each group faces, and how these factors interact with public debt and economic growth.6 Asongu (Citation2013) examines domestic, foreign, private and public investments separately and whether they effect income-inequality through financial intermediary dynamics.7 Due to data availability and verifiability of the macroeconomic variables considered, the period has been limited to 1980-2018 (1990-2018 for Gini). The main databases available containing ine
{"title":"The causality relationship between income inequality, debt, and economic growth in Sub-Saharan African countries <sup>1</sup>","authors":"Wilkista Lore Obiero, Seher Gülşah Topuz","doi":"10.1080/09638199.2023.2274854","DOIUrl":"https://doi.org/10.1080/09638199.2023.2274854","url":null,"abstract":"AbstractThis study aims to investigate the direction of causality between income inequality and growth, income inequality and debt, and debt and growth for 11 selected countries in SSA countries (Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia). The panel bootstrap causality approach is applied to these countries from 1980 to 2018. Inequality is represented using Gini coefficient, Palma ratio, and Theil index. The findings show that there is at least a one-way causal relationship between public debt and inequality in Botswana, Ghana, Kenya, Malawi, Nigeria, Rwanda, South Africa, Tanzania, and Uganda, between inequality and growth in Botswana, Lesotho, Nigeria, and South Africa and between growth and debt in Botswana, Rwanda, South Africa, and Uganda. Empirical results imply that the relations between the relevant variables in the Sub-Saharan African countries may vary according to the specific characteristics of these countries. To the best of our knowledge, this is the first paper to analyse the impact of these three macroeconomic variables together.KEYWORDS: Income inequalitypublic debteconomic growthpanel bootstrap causality approachJel Classifications: C1D3H63010 Disclosure statementNo potential conflict of interest was reported by the author(s).Notes1 Odusola et al. (Citation2017) states that more than half of the 19 most unequal countries in the world are in Sub-Saharan Africa (hereafter SSA).2 SSA countries refers to countries in Sub Sahara Africa.3 Investing debt in nonproductive activities like war can lead to debt distress whereby there is accumulation of unpaid debts, and the country is unable to fulfill all its obligations including interest rate repayment.4 According to Seery, Okanda, and Lawson (Citation2019) Africa is the second most unequal continent in the world with the five richest men in Africa owning more wealth than the bottom 50% combined.5 The list of SSA countries considered in this study include Botswana, Ghana, Kenya, Lesotho, Malawi, Nigeria, Rwanda, South Africa, Tanzania, Uganda, and Zambia. The selection of the countries is because they are representative of the different income groups in SSA covering countries in the low-income, lower-middle and upper-middle-income country classifications. This ensures that a wide range of economic conditions are represented and allow for easier cross-country comparisons. By studying countries from each income group, we can gain insights into the unique challenges and opportunities each group faces, and how these factors interact with public debt and economic growth.6 Asongu (Citation2013) examines domestic, foreign, private and public investments separately and whether they effect income-inequality through financial intermediary dynamics.7 Due to data availability and verifiability of the macroeconomic variables considered, the period has been limited to 1980-2018 (1990-2018 for Gini). The main databases available containing ine","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"11 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135321302","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.1080/09638199.2023.2271083
Ku-Chu Tsao, Yan-Shu Lin, Yen-Ju Lin
AbstractThis research explores the optimal export policy of a domestic industry characterized by numerous multinational enterprises (MNEs) co-existing with cross-border ownership investments in foreign firms and exports to a foreign country. We demonstrate that the optimal export policy depends on whether MNEs make centralized or decentralized decisions in ownership investments. With decentralized decision-making, the optimal export policy can be either a subsidy or a tax, while with centralized decision-making, it is a tax. Furthermore, we examine how the optimal trade policy responds to the optimal strategy of centralized decision-making by MNEs. Our results show that under certain circumstances, the optimal trade policy is an export subsidy, and MNEs prefer to voluntarily relinquish centralized decision-making, even when they have the option to control the production levels of foreign partner firms.KEYWORDS: Centralized decisiondecentralized decisioncross-border ownershipstrategic trade policyJEL classifications: F12F13F23 Disclosure statementNo potential conflict of interest was reported by the author(s).FundingWe are grateful to seminar participants at NTU TradeWorkshop for their valuable comments, leading to substantial improvements of this paper. The usual disclaimer applies.Notes1 Please see the website for the more details: https://asia.nikkei.com/NAR/Articles/China-s-Geely-Group-Acquires-9.7-Stake-In-Daimler-Via-Open-Market-Purchases.2 Farrell and Shapiro (Citation1990) analyze horizontal mergers in a Cournot oligopoly, Gilo, Moshe, and Spiegel (Citation2006) spotlight the importance of asymmetric costs, Ishikawa, Sugita, and Zhao (Citation2009) take technology transfer into account, and Cho, Kim, and Lee (Citation2022) consider a free licensing strategy with passive ownership and investigate the interaction with an ex-post privatization policy.3 Please refer to Kawabata (Citation2010), Ghosh and Saha (Citation2015), Fanti and Buccella (Citation2016), Choi, Lee, and Lim (Citation2017), Tsao et al. (Citation2019), etc.4 There are several papers that employ a similar definition of financial interest, referring to the right to receive the stream of profits generated by the firm from its operations and investments, such as Das (Citation1997), Wang and Wang (Citation2011), and Cho, Kim, and Lee (Citation2022).5 Spencer and Jones (Citation1991; Citation1992) look at trade policies in a vertically-related market from the viewpoint of importing and exporting countries, respectively, noting that the policy implication may not be the same.6 If the two goods are homogeneous, then a domestic MNE will stop either exports or CBO investment.7 We have xh∗=−(1−r)(m+n)−(1−rk)−s(m+n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1)>0 and yh∗=yf∗=rn(1+s)−(n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1),where yh∗>0 if r≤r¯≡n+1n(1+s) for any s.8 The first two terms of the foreign ownership effect in (6) also imply the cannibalization between the good produced by an MNE and the good produce
{"title":"Centralized decision strategy in ownership investments and export policy","authors":"Ku-Chu Tsao, Yan-Shu Lin, Yen-Ju Lin","doi":"10.1080/09638199.2023.2271083","DOIUrl":"https://doi.org/10.1080/09638199.2023.2271083","url":null,"abstract":"AbstractThis research explores the optimal export policy of a domestic industry characterized by numerous multinational enterprises (MNEs) co-existing with cross-border ownership investments in foreign firms and exports to a foreign country. We demonstrate that the optimal export policy depends on whether MNEs make centralized or decentralized decisions in ownership investments. With decentralized decision-making, the optimal export policy can be either a subsidy or a tax, while with centralized decision-making, it is a tax. Furthermore, we examine how the optimal trade policy responds to the optimal strategy of centralized decision-making by MNEs. Our results show that under certain circumstances, the optimal trade policy is an export subsidy, and MNEs prefer to voluntarily relinquish centralized decision-making, even when they have the option to control the production levels of foreign partner firms.KEYWORDS: Centralized decisiondecentralized decisioncross-border ownershipstrategic trade policyJEL classifications: F12F13F23 Disclosure statementNo potential conflict of interest was reported by the author(s).FundingWe are grateful to seminar participants at NTU TradeWorkshop for their valuable comments, leading to substantial improvements of this paper. The usual disclaimer applies.Notes1 Please see the website for the more details: https://asia.nikkei.com/NAR/Articles/China-s-Geely-Group-Acquires-9.7-Stake-In-Daimler-Via-Open-Market-Purchases.2 Farrell and Shapiro (Citation1990) analyze horizontal mergers in a Cournot oligopoly, Gilo, Moshe, and Spiegel (Citation2006) spotlight the importance of asymmetric costs, Ishikawa, Sugita, and Zhao (Citation2009) take technology transfer into account, and Cho, Kim, and Lee (Citation2022) consider a free licensing strategy with passive ownership and investigate the interaction with an ex-post privatization policy.3 Please refer to Kawabata (Citation2010), Ghosh and Saha (Citation2015), Fanti and Buccella (Citation2016), Choi, Lee, and Lim (Citation2017), Tsao et al. (Citation2019), etc.4 There are several papers that employ a similar definition of financial interest, referring to the right to receive the stream of profits generated by the firm from its operations and investments, such as Das (Citation1997), Wang and Wang (Citation2011), and Cho, Kim, and Lee (Citation2022).5 Spencer and Jones (Citation1991; Citation1992) look at trade policies in a vertically-related market from the viewpoint of importing and exporting countries, respectively, noting that the policy implication may not be the same.6 If the two goods are homogeneous, then a domestic MNE will stop either exports or CBO investment.7 We have xh∗=−(1−r)(m+n)−(1−rk)−s(m+n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1)>0 and yh∗=yf∗=rn(1+s)−(n+1)−n[(2−r2k)+(m+n)(1−r2)]−(m+1),where yh∗>0 if r≤r¯≡n+1n(1+s) for any s.8 The first two terms of the foreign ownership effect in (6) also imply the cannibalization between the good produced by an MNE and the good produce","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"46 12","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136261913","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-27DOI: 10.1080/09638199.2023.2275162
Yi Qiu, Hui Hu, Jianjun Wu
AbstractIn this study, the panel data of 34 industrial sectors are selected from 2004 to 2019 in China and empirically tested the carbon emission reduction effect and its transmission path during the coordinated development of two-way FDI. The results show that the coordinated development of two-way FDI in China's industrial sector had a significant but heterogeneous carbon emission reduction effect. The coordinated development of two-way FDI in high-yield scale groups, low-energy-consumption industries and high-tech industries had a stronger inhibitory effect on carbon emissions. When the coordinated development level of two-way FDI in China's industrial sector was high, its carbon emission reduction effect was more significant. After the Belt and Road Initiative was put forward in 2013, the carbon emission reduction effect of the coordinated development of two-way FDI in China's industrial industry was stronger. The mechanism test results showed that the coordinated development of two-way FDI in China's industrial sector mainly affected domestic carbon emissions through three transmission paths: scale, structure, and technology effects. Of these, the scale effect was positive, and the structure and technology effects were negative.KEYWORDS: Coordinated development of two-way FDIcarbon emission reductionsimultaneous equation modelsChina's industrial sectorsJEL Classifications: A10A1A Disclosure statementNo potential conflict of interest was reported by the author(s).Credit author statementAll the authors contributed to the study conception and design. Material preparation and data collection and analysis were performed by Y.Q., H.H. and J.W. The first draft of the manuscript was written by H.H. All authors have read and agreed to the published version of the manuscript.Data availabilityData will be made available on request.Additional informationFundingThis work was supported by the Hunan Provincial Philosophy and Social Science Planning Fund under Grant number 21ZDAJ007 and Collaborative Innovation Center for Emissions Trading system Co-constructed by the Province and Ministry under Grant number 22CICETS-ZD010 and 22CICETS-YB027.
{"title":"Can the coordinated development of two-way FDI promote carbon emission reduction? Evidence from industrial sectors in China","authors":"Yi Qiu, Hui Hu, Jianjun Wu","doi":"10.1080/09638199.2023.2275162","DOIUrl":"https://doi.org/10.1080/09638199.2023.2275162","url":null,"abstract":"AbstractIn this study, the panel data of 34 industrial sectors are selected from 2004 to 2019 in China and empirically tested the carbon emission reduction effect and its transmission path during the coordinated development of two-way FDI. The results show that the coordinated development of two-way FDI in China's industrial sector had a significant but heterogeneous carbon emission reduction effect. The coordinated development of two-way FDI in high-yield scale groups, low-energy-consumption industries and high-tech industries had a stronger inhibitory effect on carbon emissions. When the coordinated development level of two-way FDI in China's industrial sector was high, its carbon emission reduction effect was more significant. After the Belt and Road Initiative was put forward in 2013, the carbon emission reduction effect of the coordinated development of two-way FDI in China's industrial industry was stronger. The mechanism test results showed that the coordinated development of two-way FDI in China's industrial sector mainly affected domestic carbon emissions through three transmission paths: scale, structure, and technology effects. Of these, the scale effect was positive, and the structure and technology effects were negative.KEYWORDS: Coordinated development of two-way FDIcarbon emission reductionsimultaneous equation modelsChina's industrial sectorsJEL Classifications: A10A1A Disclosure statementNo potential conflict of interest was reported by the author(s).Credit author statementAll the authors contributed to the study conception and design. Material preparation and data collection and analysis were performed by Y.Q., H.H. and J.W. The first draft of the manuscript was written by H.H. All authors have read and agreed to the published version of the manuscript.Data availabilityData will be made available on request.Additional informationFundingThis work was supported by the Hunan Provincial Philosophy and Social Science Planning Fund under Grant number 21ZDAJ007 and Collaborative Innovation Center for Emissions Trading system Co-constructed by the Province and Ministry under Grant number 22CICETS-ZD010 and 22CICETS-YB027.","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"275 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136261585","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-10-12DOI: 10.1080/09638199.2023.2265496
Yao Nukunu Golo
AbstractThis paper investigates the role of local human capital in facilitating the export diversification improvement effect of foreign direct investment (FDI) in African countries. To this end, we use a panel smooth transition regression (PSTR) model which is able to deal with the heterogeneity issue associated with the cross-country data. Based on a sample of 30 African countries over the period 1996–2019, the results show that there is a minimum threshold of human capital beyond which the export diversification enhancing effect of FDI is unlocked in African countries. In other words, only countries located above a certain threshold of human capital benefit from the positive effect of FDI on export diversification. These results suggest that policymakers in African countries should focus on improving the conditions for acquiring local human capital (education and health) in order to extract economic gains from FDI.KEYWORDS: Foreign direct investmentexport diversificationhuman capitalpanel smooth transition regressionAfricaJEL Classifications: F21C23O55 Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available in the various databases: UNCTAD, World Development Indicators (WDI), World Bank's World Governance indicators (WGI), Penn World Table, and Conference Board Total Economy Database.Notes1 Compiled in WIR, 2018 from UNCTAD, FDI/MNE database.2 Coffee, cocoa, oil from Côte d'Ivoire; gold, cocoa and oil from Ghana; uranium from Niger; gold and cotton from Mali and Burkina Faso; bauxite from Guinea; oil from Nigeria, Angola, Congo, Gabon, Chad; diamonds from Botswana, Sierra Leone etc. … .3 OLI Ownership (the company's specific asset holdings), Location (the advantages or conditions offered by host countries) and Integration (the comparison between internationalization and exporting in terms of costs and benefits for the relocating company).4 The main determinants identified are: size, resource wealth, trade, market access, trade costs, FDI, human capital, public investment and spending, exchange rate misalignment, terms of trade, financial market development, infrastructure, and institutional quality5 Hj=(∑i=1N(Xi,j/Xj)2−1/N/1−1/N) where Hj is the export product concentration index for country j, Xi,j is the value of exports of product i by country j, Xj is the value of global exports by country j, and N is the total number of products exported.6 The six institutional quality indicators used include the rule of law (LAW), regulatory quality (REQ), governance effectiveness (GOV), corruption control (CORR), political stability (POS) and voice and accountability (VOA)7 According to Blundell and Bond (Citation1998), the GMM in-difference estimator can be non-convergent and biased, as the application of the estimator's moment conditions poses a number of problems, namely: the weakness of the instruments chosen, and the elimination of
{"title":"Foreign direct investment, human capital and export diversification in Africa: A panel smooth transition regression (PSTR) model analysis","authors":"Yao Nukunu Golo","doi":"10.1080/09638199.2023.2265496","DOIUrl":"https://doi.org/10.1080/09638199.2023.2265496","url":null,"abstract":"AbstractThis paper investigates the role of local human capital in facilitating the export diversification improvement effect of foreign direct investment (FDI) in African countries. To this end, we use a panel smooth transition regression (PSTR) model which is able to deal with the heterogeneity issue associated with the cross-country data. Based on a sample of 30 African countries over the period 1996–2019, the results show that there is a minimum threshold of human capital beyond which the export diversification enhancing effect of FDI is unlocked in African countries. In other words, only countries located above a certain threshold of human capital benefit from the positive effect of FDI on export diversification. These results suggest that policymakers in African countries should focus on improving the conditions for acquiring local human capital (education and health) in order to extract economic gains from FDI.KEYWORDS: Foreign direct investmentexport diversificationhuman capitalpanel smooth transition regressionAfricaJEL Classifications: F21C23O55 Disclosure statementNo potential conflict of interest was reported by the author(s).Data availability statementThe data that support the findings of this study are available in the various databases: UNCTAD, World Development Indicators (WDI), World Bank's World Governance indicators (WGI), Penn World Table, and Conference Board Total Economy Database.Notes1 Compiled in WIR, 2018 from UNCTAD, FDI/MNE database.2 Coffee, cocoa, oil from Côte d'Ivoire; gold, cocoa and oil from Ghana; uranium from Niger; gold and cotton from Mali and Burkina Faso; bauxite from Guinea; oil from Nigeria, Angola, Congo, Gabon, Chad; diamonds from Botswana, Sierra Leone etc. … .3 OLI Ownership (the company's specific asset holdings), Location (the advantages or conditions offered by host countries) and Integration (the comparison between internationalization and exporting in terms of costs and benefits for the relocating company).4 The main determinants identified are: size, resource wealth, trade, market access, trade costs, FDI, human capital, public investment and spending, exchange rate misalignment, terms of trade, financial market development, infrastructure, and institutional quality5 Hj=(∑i=1N(Xi,j/Xj)2−1/N/1−1/N) where Hj is the export product concentration index for country j, Xi,j is the value of exports of product i by country j, Xj is the value of global exports by country j, and N is the total number of products exported.6 The six institutional quality indicators used include the rule of law (LAW), regulatory quality (REQ), governance effectiveness (GOV), corruption control (CORR), political stability (POS) and voice and accountability (VOA)7 According to Blundell and Bond (Citation1998), the GMM in-difference estimator can be non-convergent and biased, as the application of the estimator's moment conditions poses a number of problems, namely: the weakness of the instruments chosen, and the elimination of","PeriodicalId":51656,"journal":{"name":"Journal of International Trade & Economic Development","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136014151","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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