Pub Date : 2025-02-15DOI: 10.1016/j.eap.2025.02.006
Jiukai Hu , Deqing Luo , Yiming Wang
This study employs a quasi-experimental Geographic Regression Discontinuity Design (GRDD) method to assess the effects of market integration on corporate innovation within China’s Yangtze River Delta region. Our findings reveal a significant positive impact of domestic market integration on innovation, especially for advanced technological innovations. This result is supported by rigorous robustness tests. Mechanism analysis indicates that the establishment of the Yangtze River Delta City Economic Coordination Committee has eased the movement of goods and production factors within the region and bolstered domestic enterprise sales. Consequently, these developments have strengthened firms’ innovation capabilities by promoting more efficient market mechanisms. This paper provides new evidence supporting the dismantling of regional barriers to expand domestic demand and stimulate corporate innovation in the context of deglobalization trends.
{"title":"Innovative incentive effects of domestic market integration: Evidence from the Yangtze River Delta region of China","authors":"Jiukai Hu , Deqing Luo , Yiming Wang","doi":"10.1016/j.eap.2025.02.006","DOIUrl":"10.1016/j.eap.2025.02.006","url":null,"abstract":"<div><div>This study employs a quasi-experimental Geographic Regression Discontinuity Design (GRDD) method to assess the effects of market integration on corporate innovation within China’s Yangtze River Delta region. Our findings reveal a significant positive impact of domestic market integration on innovation, especially for advanced technological innovations. This result is supported by rigorous robustness tests. Mechanism analysis indicates that the establishment of the Yangtze River Delta City Economic Coordination Committee has eased the movement of goods and production factors within the region and bolstered domestic enterprise sales. Consequently, these developments have strengthened firms’ innovation capabilities by promoting more efficient market mechanisms. This paper provides new evidence supporting the dismantling of regional barriers to expand domestic demand and stimulate corporate innovation in the context of deglobalization trends.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1580-1594"},"PeriodicalIF":7.9,"publicationDate":"2025-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143428110","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-14DOI: 10.1016/j.eap.2025.02.014
Omar Ahmed Abdulraqeb, Cao Erbao, Abdullah Aloqab, Hamdi Naji
Our research investigates the link between environmental tax policies (ETA), environmental technology implementations (ETE), renewable energy applications (RE) and Brazil's consumption-based carbon dioxide emissions (CCO2) from 1994 to 2020 with economic growth measured by Gross Domestic Product (GDP). We validated DOLS results through FMOLS and CCR analysis alongside the DOLS technique. Data reveals environmental technologies and renewable energy help cut carbon dioxide output yet increased GDP raises emission levels. Data analysis using different statistical approaches demonstrates that ETA and RE help decrease Brazil's carbon emission levels. The DOLS analysis reveals ETE negatively affects CCO2 but OLS, FMOLS and CCR show ETE has no effect on CCO2 levels. The effectiveness of policies focused on ETA and RE demonstrates their ability to control CCO2 emissions for environmental sustainability. Governments that embrace renewable energy and electric transport evolution will help build a sustainable environment.
{"title":"The dynamic influence of green technology and environmental taxes on consumption-based carbon emissions in Brazil","authors":"Omar Ahmed Abdulraqeb, Cao Erbao, Abdullah Aloqab, Hamdi Naji","doi":"10.1016/j.eap.2025.02.014","DOIUrl":"10.1016/j.eap.2025.02.014","url":null,"abstract":"<div><div>Our research investigates the link between environmental tax policies (ETA), environmental technology implementations (ETE), renewable energy applications (RE) and Brazil's consumption-based carbon dioxide emissions (CCO2) from 1994 to 2020 with economic growth measured by Gross Domestic Product (GDP). We validated DOLS results through FMOLS and CCR analysis alongside the DOLS technique. Data reveals environmental technologies and renewable energy help cut carbon dioxide output yet increased GDP raises emission levels. Data analysis using different statistical approaches demonstrates that ETA and RE help decrease Brazil's carbon emission levels. The DOLS analysis reveals ETE negatively affects CCO<sub>2</sub> but OLS, FMOLS and CCR show ETE has no effect on CCO<sub>2</sub> levels. The effectiveness of policies focused on ETA and RE demonstrates their ability to control CCO<sub>2</sub> emissions for environmental sustainability. Governments that embrace renewable energy and electric transport evolution will help build a sustainable environment.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1595-1612"},"PeriodicalIF":7.9,"publicationDate":"2025-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143438107","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-13DOI: 10.1016/j.eap.2025.02.013
Xuejun Guo , Xiaoxi Guo , Haoran Guan
This study investigates the influence of financial literacy on rural households' portfolio decisions in poverty alleviation regions. Findings reveal that enhanced financial literacy significantly increases both the extent and depth of households' engagement with financial risk assets. Financial literacy, encompassing knowledge, behavior, and attitudes, shapes investment approaches, with rural households often displaying conservative tendencies. Additionally, E-commerce promotion supports market participation, underscoring "wealth" and "identity" effects in portfolio choices, though without a noticeable "crowding-out effect" on venture capital investments.
{"title":"Does rural Households’ financial literacy affect the household portfolio choices in poverty alleviation areas?","authors":"Xuejun Guo , Xiaoxi Guo , Haoran Guan","doi":"10.1016/j.eap.2025.02.013","DOIUrl":"10.1016/j.eap.2025.02.013","url":null,"abstract":"<div><div>This study investigates the influence of financial literacy on rural households' portfolio decisions in poverty alleviation regions. Findings reveal that enhanced financial literacy significantly increases both the extent and depth of households' engagement with financial risk assets. Financial literacy, encompassing knowledge, behavior, and attitudes, shapes investment approaches, with rural households often displaying conservative tendencies. Additionally, E-commerce promotion supports market participation, underscoring \"wealth\" and \"identity\" effects in portfolio choices, though without a noticeable \"crowding-out effect\" on venture capital investments.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1550-1562"},"PeriodicalIF":7.9,"publicationDate":"2025-02-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143420573","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-12DOI: 10.1016/j.eap.2025.02.015
Qinqin Wu , Tingting Xie , Jing Lu
We use the number of questions related to the environmental governance of listed companies raised by institutional investors during site visits to proxy the institutional investors’ environmental attention and explore how it drives firms’ environmental investment. The results show that institutional investors’ environmental attention during site visits positively relates to the visited firms’ environmental investment. This positive effect is more significant in non-state-owned enterprises and firms with low financing constraints. Moreover, institutional investors’ environmental attention mainly promotes visited firms’ environmental investment through monitoring and media coverage’s information dissemination channels. This study contributes to the crucial effects of informal environmental regulations on corporate environmental governance.
{"title":"Does institutional investors’ environmental attention influence corporate environmental investment?","authors":"Qinqin Wu , Tingting Xie , Jing Lu","doi":"10.1016/j.eap.2025.02.015","DOIUrl":"10.1016/j.eap.2025.02.015","url":null,"abstract":"<div><div>We use the number of questions related to the environmental governance of listed companies raised by institutional investors during site visits to proxy the institutional investors’ environmental attention and explore how it drives firms’ environmental investment. The results show that institutional investors’ environmental attention during site visits positively relates to the visited firms’ environmental investment. This positive effect is more significant in non-state-owned enterprises and firms with low financing constraints. Moreover, institutional investors’ environmental attention mainly promotes visited firms’ environmental investment through monitoring and media coverage’s information dissemination channels. This study contributes to the crucial effects of informal environmental regulations on corporate environmental governance.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1625-1644"},"PeriodicalIF":7.9,"publicationDate":"2025-02-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143445835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-10DOI: 10.1016/j.eap.2025.02.011
Xun Hu , Cheng Xue , Xiangfang Zhao
In China, inadequate cross-regional investment is a challenge. Our study uses the no-bailout reform initiated in China in 2014 to test whether market-oriented reforms of this type can stimulate national economic integration. We find that following a bond default event, non-local firms tend to establish a higher proportion of subsidiaries in the region where the no-bailout reform has been implemented. This is because China's no-bailout reform signals a reduction in financial protectionism and other forms of local protectionism. We also find our main results are stronger when the impact of the bond default is greater, when local protectionism in the home region of the entering firms is higher, and when the degree of asset specificity and product market competitiveness of the entering firms are lower. Finally, we find China's no-bailout reform reduces operational risks and improves firms’ total factor productivity. Overall, our study contributes to the literature on no-bailout reform and cross-regional investment.
{"title":"Corporate bond defaults and cross-regional investment: Evidence from China","authors":"Xun Hu , Cheng Xue , Xiangfang Zhao","doi":"10.1016/j.eap.2025.02.011","DOIUrl":"10.1016/j.eap.2025.02.011","url":null,"abstract":"<div><div>In China, inadequate cross-regional investment is a challenge. Our study uses the no-bailout reform initiated in China in 2014 to test whether market-oriented reforms of this type can stimulate national economic integration. We find that following a bond default event, non-local firms tend to establish a higher proportion of subsidiaries in the region where the no-bailout reform has been implemented. This is because China's no-bailout reform signals a reduction in financial protectionism and other forms of local protectionism. We also find our main results are stronger when the impact of the bond default is greater, when local protectionism in the home region of the entering firms is higher, and when the degree of asset specificity and product market competitiveness of the entering firms are lower. Finally, we find China's no-bailout reform reduces operational risks and improves firms’ total factor productivity. Overall, our study contributes to the literature on no-bailout reform and cross-regional investment.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1514-1533"},"PeriodicalIF":7.9,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143420480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-10DOI: 10.1016/j.eap.2025.02.010
Yabo Li , Zhen Zhang , Rui Teng , Shuo Fan
This paper illuminates the impact of tariff exposure on city crimes by conducting a textual analysis of judgment documents from China Judgments Online. The findings reveal that cities experiencing higher tariff exposure tend to have a higher number of crimes, and this conclusion remains robust across various sensitivity analyses. On this basis, the paper further explores the heterogeneous impact of tariff exposure on city crimes. When considering city characteristics, it is observed that cities with younger populations and higher education levels are more susceptible to an increase in crime as tariff exposure increases. Additionally, resource-based and old industrial cities are more adversely affected by tariff exposure, which, in turn, exacerbates urban crime issues. From the perspective of case types, higher tariff exposure is correlated with an increase in Blue-collar crime, while its effect on White-collar crime is found to be insignificant. Furthermore, the study finds that tariff exposure reduces urban employment and income levels and increases negative psychological health among residents, which emerges as a significant pathway leading to criminal offenses.
{"title":"Dose tariff exposure stimulate city crimes? Evidence from China-US trade war","authors":"Yabo Li , Zhen Zhang , Rui Teng , Shuo Fan","doi":"10.1016/j.eap.2025.02.010","DOIUrl":"10.1016/j.eap.2025.02.010","url":null,"abstract":"<div><div>This paper illuminates the impact of tariff exposure on city crimes by conducting a textual analysis of judgment documents from China Judgments Online. The findings reveal that cities experiencing higher tariff exposure tend to have a higher number of crimes, and this conclusion remains robust across various sensitivity analyses. On this basis, the paper further explores the heterogeneous impact of tariff exposure on city crimes. When considering city characteristics, it is observed that cities with younger populations and higher education levels are more susceptible to an increase in crime as tariff exposure increases. Additionally, resource-based and old industrial cities are more adversely affected by tariff exposure, which, in turn, exacerbates urban crime issues. From the perspective of case types, higher tariff exposure is correlated with an increase in Blue-collar crime, while its effect on White-collar crime is found to be insignificant. Furthermore, the study finds that tariff exposure reduces urban employment and income levels and increases negative psychological health among residents, which emerges as a significant pathway leading to criminal offenses.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1563-1579"},"PeriodicalIF":7.9,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143428111","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In recent years, a major concern of countries around the world has been to reduce pollution through various environmental policies, and the current geopolitical context requires the European Union to focus increasingly on reducing dependence on fossil fuels and using green energy sources. Starting from this specific and significant issue to be considered by policy makers for energy efficiency, this study aims to empirically assess the influence of energy taxation as an environmental policy measure on the development of renewable energy sources (RESs) and their increasing share in the energy portfolio. The study covers 28 countries that are members of the European Union and refers to the analysis period 2004–2021.The data used are panel data from the Eurostat database and the methods proposed for the empirical research refer to long-run A.R.D.L. (Auto Regressive Distributed Lag) models for estimating non-stationary heterogeneous panels with cross-sectional dependence. In addition to energy taxes (total and household) and the share of renewables included as variables of interest in the model, in order to test the robustness of the results obtained, control variables used in similar works, such as gross domestic product, population density and imports, were also included. The findings suggest that higher energy taxes lead to an increased share of RESs, highlighting the need for policymakers to incentivize energy efficiency through tax policies. Thus, the paper addresses an important and timely issue, given the current geopolitical context and the global push towards sustainable energy sources.
{"title":"Increasing the share of renewable energy sources (RESs) in the specific portfolio by using the taxation mechanism: Study at the level of EU states","authors":"Bogdan Narcis Firtescu , Ionel Bostan , Maria Grosu , Laurențiu Droj , Camelia Catalina Mihalciuc","doi":"10.1016/j.eap.2025.02.007","DOIUrl":"10.1016/j.eap.2025.02.007","url":null,"abstract":"<div><div>In recent years, a major concern of countries around the world has been to reduce pollution through various environmental policies, and the current geopolitical context requires the European Union to focus increasingly on reducing dependence on fossil fuels and using green energy sources. Starting from this specific and significant issue to be considered by policy makers for energy efficiency, this study aims to empirically assess the influence of energy taxation as an environmental policy measure on the development of renewable energy sources (RESs) and their increasing share in the energy portfolio. The study covers 28 countries that are members of the European Union and refers to the analysis period 2004–2021.The data used are panel data from the Eurostat database and the methods proposed for the empirical research refer to long-run A.R.D.L. (Auto Regressive Distributed Lag) models for estimating non-stationary heterogeneous panels with cross-sectional dependence. In addition to energy taxes (total and household) and the share of renewables included as variables of interest in the model, in order to test the robustness of the results obtained, control variables used in similar works, such as gross domestic product, population density and imports, were also included. The findings suggest that higher energy taxes lead to an increased share of RESs, highlighting the need for policymakers to incentivize energy efficiency through tax policies. Thus, the paper addresses an important and timely issue, given the current geopolitical context and the global push towards sustainable energy sources.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1534-1549"},"PeriodicalIF":7.9,"publicationDate":"2025-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143420479","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-08DOI: 10.1016/j.eap.2025.02.001
Yifan Qian, Xingjian Yao
In 2023, China’s total grain output reached 1.3 trillion kilograms, marking 20 consecutive years of abundant harvests. While China has achieved remarkable historical milestones in ensuring food security, significant challenges remain, including structural imbalances in grain production, insufficient intrinsic motivation among farmers to grow grain, and a complex and volatile international environment. Building on a comprehensive review of existing literature, this paper categorizes Chinese farmers into two types: Type I farmers, who typically cultivate relatively small farmland areas, and Type II farmers, who operate larger farmland areas. Their crop planting decisions are analyzed within the frameworks of economies of scale and marginal profit analysis, and the proposed hypotheses are verified through numerical simulations. Using provincial-level data spanning from 2005 to 2022, the paper further establishes a bilateral stochastic frontier model for empirical measurement. The key findings are as follows: (1) The crowding-out effect of land transfer on the proportion of grain crops outweighs the crowding-in effect. (2) From 2011 to 2021, the crowding-out effect of land transfer on grain crop planting proportions demonstrates a positive spatial correlation. (3) The net negative effect of land transfer on grain planting proportions is smallest in major grain-producing areas but is more pronounced in regions with lower levels of rural financial development. Based on these findings, this paper proposes targeted recommendations to mitigate the non-grain effect of land transfer and safeguard food security.
{"title":"Land transfer and cropping structure: Evidence from China","authors":"Yifan Qian, Xingjian Yao","doi":"10.1016/j.eap.2025.02.001","DOIUrl":"10.1016/j.eap.2025.02.001","url":null,"abstract":"<div><div>In 2023, China’s total grain output reached 1.3 trillion kilograms, marking 20 consecutive years of abundant harvests. While China has achieved remarkable historical milestones in ensuring food security, significant challenges remain, including structural imbalances in grain production, insufficient intrinsic motivation among farmers to grow grain, and a complex and volatile international environment. Building on a comprehensive review of existing literature, this paper categorizes Chinese farmers into two types: Type I farmers, who typically cultivate relatively small farmland areas, and Type II farmers, who operate larger farmland areas. Their crop planting decisions are analyzed within the frameworks of economies of scale and marginal profit analysis, and the proposed hypotheses are verified through numerical simulations. Using provincial-level data spanning from 2005 to 2022, the paper further establishes a bilateral stochastic frontier model for empirical measurement. The key findings are as follows: (1) The crowding-out effect of land transfer on the proportion of grain crops outweighs the crowding-in effect. (2) From 2011 to 2021, the crowding-out effect of land transfer on grain crop planting proportions demonstrates a positive spatial correlation. (3) The net negative effect of land transfer on grain planting proportions is smallest in major grain-producing areas but is more pronounced in regions with lower levels of rural financial development. Based on these findings, this paper proposes targeted recommendations to mitigate the non-grain effect of land transfer and safeguard food security.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1492-1513"},"PeriodicalIF":7.9,"publicationDate":"2025-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143386600","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-08DOI: 10.1016/j.eap.2025.02.008
Rui Long , Zhaobin Fan
In the context of escalating economic policy uncertainty and a growing focus on firm ESG practices in China, this study investigates the impact of firms’ ESG performance on their perception of economic policy uncertainty (EPU). The empirical analysis draws on the data from the listed companies in China over the period 2009–2022. The results reveal that enhancing ESG performance can significantly mitigating firms’ EPU perception through strengthening internal control, stabilizing external financing, and improving supply chain resilience. Moreover, this study suggests that the effect of ESG performance is particularly pronounced among firms situated in less marketized regions and those with weak market power. Further analysis finds an increasing marginal impact of ESG performance on firms’ perceived EPU, and suggests a positive correlation between reduced EPU perception and increased investment expenditure within firms, particularly focusing on the implementation of long-term growth strategies.
{"title":"The impact of ESG performance on the perception of economic policy uncertainty: Evidence from China","authors":"Rui Long , Zhaobin Fan","doi":"10.1016/j.eap.2025.02.008","DOIUrl":"10.1016/j.eap.2025.02.008","url":null,"abstract":"<div><div>In the context of escalating economic policy uncertainty and a growing focus on firm ESG practices in China, this study investigates the impact of firms’ ESG performance on their perception of economic policy uncertainty (EPU). The empirical analysis draws on the data from the listed companies in China over the period 2009–2022. The results reveal that enhancing ESG performance can significantly mitigating firms’ EPU perception through strengthening internal control, stabilizing external financing, and improving supply chain resilience. Moreover, this study suggests that the effect of ESG performance is particularly pronounced among firms situated in less marketized regions and those with weak market power. Further analysis finds an increasing marginal impact of ESG performance on firms’ perceived EPU, and suggests a positive correlation between reduced EPU perception and increased investment expenditure within firms, particularly focusing on the implementation of long-term growth strategies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1456-1474"},"PeriodicalIF":7.9,"publicationDate":"2025-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143386487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-02-06DOI: 10.1016/j.eap.2025.02.005
Siqi Zhang , Rong Cai , Shujuan Wang
Based on a balanced panel dataset of 1924 counties in China from 2000 to 2021, we first evaluated the agricultural productivity using a four-component stochastic frontier model, and then employed a staggered difference-in-difference (DID) analytical framework to assess the impact of the Hundred Billion Program (HBP), a large-scale public investment in agriculture, on the growth of China's agricultural productivity. The results indicate that the HBP has a significant positive effect on agricultural productivity growth in counties where the program was implemented. Further heterogeneity analysis reveals that the HBP has predominantly positive effects on agricultural productivity growth in counties located in the Central region, as well as those with low topographic relief or low temperatures. In contrast, no significant effects were observed in counties located in the Northeastern region. Mechanism analysis suggests that public investment in agriculture not only enhances agricultural productivity by improving irrigation infrastructure and increasing agricultural machinery, but also by encouraging scaled agricultural operations. Therefore, increasing public investment in agriculture is crucial for the growth of agricultural productivity. In this regard, China's practices are worthy of emulation by other developing countries.
{"title":"Impact of public investment on agricultural productivity growth: Evidence from China","authors":"Siqi Zhang , Rong Cai , Shujuan Wang","doi":"10.1016/j.eap.2025.02.005","DOIUrl":"10.1016/j.eap.2025.02.005","url":null,"abstract":"<div><div>Based on a balanced panel dataset of 1924 counties in China from 2000 to 2021, we first evaluated the agricultural productivity using a four-component stochastic frontier model, and then employed a staggered difference-in-difference (DID) analytical framework to assess the impact of the Hundred Billion Program (HBP), a large-scale public investment in agriculture, on the growth of China's agricultural productivity. The results indicate that the HBP has a significant positive effect on agricultural productivity growth in counties where the program was implemented. Further heterogeneity analysis reveals that the HBP has predominantly positive effects on agricultural productivity growth in counties located in the Central region, as well as those with low topographic relief or low temperatures. In contrast, no significant effects were observed in counties located in the Northeastern region. Mechanism analysis suggests that public investment in agriculture not only enhances agricultural productivity by improving irrigation infrastructure and increasing agricultural machinery, but also by encouraging scaled agricultural operations. Therefore, increasing public investment in agriculture is crucial for the growth of agricultural productivity. In this regard, China's practices are worthy of emulation by other developing countries.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"85 ","pages":"Pages 1442-1455"},"PeriodicalIF":7.9,"publicationDate":"2025-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143378074","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"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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