Pub Date : 2026-01-01DOI: 10.1016/j.eap.2025.12.031
Youngju Lee , Minsung Park
This study examines how South Korea’s 80% cigarette price increase in 2015 affected private health insurance premiums, addressing a critical gap in understanding insurance market spillovers from tobacco taxation. Using panel data from the Korea Health Panel Survey (2010–2018), we employ a control function approach with generalized residuals to address endogeneity in smoking behavior. The policy reduced monthly insurance premiums by 4.7% among smokers, alongside substantial declines in smoking participation by 3.9 percentage points and daily consumption by 1.5 cigarettes per day, or approximately half a pack per week. Our findings demonstrate that tobacco taxation influences private risk markets through behavioral channels, offering important policy insights for aging economies seeking to contain healthcare costs while improving population health.
{"title":"The effect of cigarette prices on insurance premiums: Evidence from cigarette tax increase in South Korea","authors":"Youngju Lee , Minsung Park","doi":"10.1016/j.eap.2025.12.031","DOIUrl":"10.1016/j.eap.2025.12.031","url":null,"abstract":"<div><div>This study examines how South Korea’s 80% cigarette price increase in 2015 affected private health insurance premiums, addressing a critical gap in understanding insurance market spillovers from tobacco taxation. Using panel data from the Korea Health Panel Survey (2010–2018), we employ a control function approach with generalized residuals to address endogeneity in smoking behavior. The policy reduced monthly insurance premiums by 4.7% among smokers, alongside substantial declines in smoking participation by 3.9 percentage points and daily consumption by 1.5 cigarettes per day, or approximately half a pack per week. Our findings demonstrate that tobacco taxation influences private risk markets through behavioral channels, offering important policy insights for aging economies seeking to contain healthcare costs while improving population health.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 1064-1076"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145977724","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 : 2026-01-01DOI: 10.1016/j.eap.2026.01.006
Ling Zhu , Genben Xiang , Yan Sheng , Xiaoyu Chen
This study examines the effect of minimum wage policies on labor disputes. Leveraging regional and temporal variation in minimum wage rates across Chinese cities, we establish that wage increases significantly elevate the incidence of labor disputes. Our analysis reveals that minimum wage regulations predominantly intensify disputes motivated by claims for unpaid wages and severance compensation. We identify involuntary unemployment induced by upward wage adjustments as the primary mechanism driving heightened labor unrest. Heterogeneity analyses indicate that these effects are stronger in tertiary industries and regions with advanced digital economies, greater innovation intensity, and higher concentrations of low-skilled workers. These findings yield policy implications for labor market governance in developing economies.
{"title":"Minimum wage and labor disputes: Evidence from China","authors":"Ling Zhu , Genben Xiang , Yan Sheng , Xiaoyu Chen","doi":"10.1016/j.eap.2026.01.006","DOIUrl":"10.1016/j.eap.2026.01.006","url":null,"abstract":"<div><div>This study examines the effect of minimum wage policies on labor disputes. Leveraging regional and temporal variation in minimum wage rates across Chinese cities, we establish that wage increases significantly elevate the incidence of labor disputes. Our analysis reveals that minimum wage regulations predominantly intensify disputes motivated by claims for unpaid wages and severance compensation. We identify involuntary unemployment induced by upward wage adjustments as the primary mechanism driving heightened labor unrest. Heterogeneity analyses indicate that these effects are stronger in tertiary industries and regions with advanced digital economies, greater innovation intensity, and higher concentrations of low-skilled workers. These findings yield policy implications for labor market governance in developing economies.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 1045-1063"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145977725","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 : 2026-01-01DOI: 10.1016/j.eap.2026.01.015
Jiangang Zhang , Zhimin Cao
Globally, the rapid expansion of cross-border e-commerce is accelerating the digitalization of trade, yet it remains uncertain whether this transformation can achieve inclusive and environmentally sustainable economic growth. Against this backdrop, it is crucial to assess whether digital trade reforms can support inclusive green growth (IGG) in line with the United Nations Sustainable Development Goals. This study provides the first evidence on how China’s Cross-border E-commerce Comprehensive Pilot Zones (CECPZ) policy affects IGG. Using data from Chinese prefecture-level cities, we construct a multidimensional IGG index that goes beyond traditional efficiency-based measures, and employ a Double Machine Learning framework to test the causal effects. The findings show that the CECPZ policy significantly promotes IGG, mainly by enhancing digitalization, optimizing employment quality, strengthening intellectual property protection and promoting entrepreneurial activity in green industries. The gains are larger in less developed cities, while neighboring cities experience limited or even negative spillover effects. This study not only reveals that achieving IGG requires clear digital trade rules, enhanced regional coordination and targeted support for lagging regions, but also provides practical guidance for emerging economies seeking to integrate digital trade with inclusive green development.
{"title":"Assessing the potential of trade policy in promoting inclusive green growth: Evidence from China","authors":"Jiangang Zhang , Zhimin Cao","doi":"10.1016/j.eap.2026.01.015","DOIUrl":"10.1016/j.eap.2026.01.015","url":null,"abstract":"<div><div>Globally, the rapid expansion of cross-border e-commerce is accelerating the digitalization of trade, yet it remains uncertain whether this transformation can achieve inclusive and environmentally sustainable economic growth. Against this backdrop, it is crucial to assess whether digital trade reforms can support inclusive green growth (IGG) in line with the United Nations Sustainable Development Goals. This study provides the first evidence on how China’s Cross-border E-commerce Comprehensive Pilot Zones (CECPZ) policy affects IGG. Using data from Chinese prefecture-level cities, we construct a multidimensional IGG index that goes beyond traditional efficiency-based measures, and employ a Double Machine Learning framework to test the causal effects. The findings show that the CECPZ policy significantly promotes IGG, mainly by enhancing digitalization, optimizing employment quality, strengthening intellectual property protection and promoting entrepreneurial activity in green industries. The gains are larger in less developed cities, while neighboring cities experience limited or even negative spillover effects. This study not only reveals that achieving IGG requires clear digital trade rules, enhanced regional coordination and targeted support for lagging regions, but also provides practical guidance for emerging economies seeking to integrate digital trade with inclusive green development.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 1005-1025"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145926030","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 : 2026-01-01DOI: 10.1016/j.eap.2025.12.039
Gaige Tu , Hao Chen
Civil-Military Integration (CMI) has become a strategic imperative as states pursue technological innovation, economic efficiency, and resource optimization, yet implementation is hindered by moral hazard and adverse selection within multi-level principal-agent chains. This study develops a dynamic, multi-task principal-agent model in the Holmström-Milgrom (H-M) tradition tailored to China's CMI systems. The model accommodates intermediaries that act simultaneously as both principals and agents, and employs a revenue-sharing contract to align incentives across layers, thereby promoting the high-quality and cost-efficient delivery of dual-use technologies. The model further integrates risk aversion, interdependent efforts, and incomplete contracts. Analytical results and comparative statics show that optimal revenue-sharing and fixed-transfer parameters are highly sensitive to agents' risk preferences and marginal cost structures. Effort spillover among agents has a material impact on aggregate output and shifts the optimal sharing ratio; we identify parameter thresholds under varying institutional and economic constraints. Numerical simulations are complemented by robustness checks, including Monte Carlo experiments, bootstrap resampling, and extreme scenario analyses. Validation based on representative Chinese CMI projects (e.g., the Beidou-3 navigation system, J-20 fighter aircraft, and Y-20 transport aircraft) further confirms that the proposed mechanism remains stable across heterogeneous environments and is consistent with observed implementation outcomes. Policy recommendations include real-time performance monitoring, stratified incentives matched to agent characteristics and risk attitudes, and flexible, renegotiable clauses to accommodate external uncertainty. The study provides a formal, behaviorally grounded contract design that improves incentive alignment and operational efficiency in complex CMI systems.
{"title":"Revenue-Sharing in China's Civil-Military Integration: Multi-Level Incentive Coordination and Optimization","authors":"Gaige Tu , Hao Chen","doi":"10.1016/j.eap.2025.12.039","DOIUrl":"10.1016/j.eap.2025.12.039","url":null,"abstract":"<div><div>Civil-Military Integration (CMI) has become a strategic imperative as states pursue technological innovation, economic efficiency, and resource optimization, yet implementation is hindered by moral hazard and adverse selection within multi-level principal-agent chains. This study develops a dynamic, multi-task principal-agent model in the Holmström-Milgrom (H-M) tradition tailored to China's CMI systems. The model accommodates intermediaries that act simultaneously as both principals and agents, and employs a revenue-sharing contract to align incentives across layers, thereby promoting the high-quality and cost-efficient delivery of dual-use technologies. The model further integrates risk aversion, interdependent efforts, and incomplete contracts. Analytical results and comparative statics show that optimal revenue-sharing and fixed-transfer parameters are highly sensitive to agents' risk preferences and marginal cost structures. Effort spillover among agents has a material impact on aggregate output and shifts the optimal sharing ratio; we identify parameter thresholds under varying institutional and economic constraints. Numerical simulations are complemented by robustness checks, including Monte Carlo experiments, bootstrap resampling, and extreme scenario analyses. Validation based on representative Chinese CMI projects (e.g., the Beidou-3 navigation system, J-20 fighter aircraft, and Y-20 transport aircraft) further confirms that the proposed mechanism remains stable across heterogeneous environments and is consistent with observed implementation outcomes. Policy recommendations include real-time performance monitoring, stratified incentives matched to agent characteristics and risk attitudes, and flexible, renegotiable clauses to accommodate external uncertainty. The study provides a formal, behaviorally grounded contract design that improves incentive alignment and operational efficiency in complex CMI systems.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 900-928"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145926041","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 : 2026-01-01DOI: 10.1016/j.eap.2025.12.028
Yifei Zhang , Huan Wang , Yun Li , Weizhang Sun
This study explores uncharted territory by investigating the propensity of top executives with military experience to engage in corporate social responsibility (CSR) activities, even amidst economic policy uncertainty. Drawing upon data from Chinese A-share listed companies spanning the years 2010–2020 and employing Stata 15.1 for analysis, our research uncovers significant and enlightening findings. In a landscape characterized by dynamic economic policy shifts and elevated uncertainty, our study reveals that top executives with military backgrounds exhibit a pronounced inclination towards CSR performance. What's particularly groundbreaking is the discovery that their commitment to CSR intensifies in the face of heightened economic policy uncertainty. Business strategy plays a pivotal role as it mediates the relationship between military experiences and CSR outcomes. Notably, our investigation unveils the exceptional dedication to CSR among executives with military backgrounds in state-owned enterprises. These results provide fresh and actionable insights for corporate leaders, policymakers, and stakeholders seeking to navigate CSR challenges amid uncertain economic climates. Our research underscores the relevance of executive backgrounds as a strategic asset in advancing CSR efforts. In summary, this study contributes to the evolving discourse on CSR and ethical decision-making by shedding light on the unique CSR proclivities of top executives with military experience, even amidst economic policy turbulence. Our findings underscore the pertinence of considering these executives' backgrounds and strategic choices when cultivating CSR initiatives within organizations.
{"title":"Top executives’ military experiences, economic policy uncertainty, business strategy, and corporate social responsibilities","authors":"Yifei Zhang , Huan Wang , Yun Li , Weizhang Sun","doi":"10.1016/j.eap.2025.12.028","DOIUrl":"10.1016/j.eap.2025.12.028","url":null,"abstract":"<div><div>This study explores uncharted territory by investigating the propensity of top executives with military experience to engage in corporate social responsibility (CSR) activities, even amidst economic policy uncertainty. Drawing upon data from Chinese A-share listed companies spanning the years 2010–2020 and employing Stata 15.1 for analysis, our research uncovers significant and enlightening findings. In a landscape characterized by dynamic economic policy shifts and elevated uncertainty, our study reveals that top executives with military backgrounds exhibit a pronounced inclination towards CSR performance. What's particularly groundbreaking is the discovery that their commitment to CSR intensifies in the face of heightened economic policy uncertainty. Business strategy plays a pivotal role as it mediates the relationship between military experiences and CSR outcomes. Notably, our investigation unveils the exceptional dedication to CSR among executives with military backgrounds in state-owned enterprises. These results provide fresh and actionable insights for corporate leaders, policymakers, and stakeholders seeking to navigate CSR challenges amid uncertain economic climates. Our research underscores the relevance of executive backgrounds as a strategic asset in advancing CSR efforts. In summary, this study contributes to the evolving discourse on CSR and ethical decision-making by shedding light on the unique CSR proclivities of top executives with military experience, even amidst economic policy turbulence. Our findings underscore the pertinence of considering these executives' backgrounds and strategic choices when cultivating CSR initiatives within organizations.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 757-771"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145926027","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 : 2026-01-01DOI: 10.1016/j.eap.2025.10.022
Tianchen Wang , Kangyin Lyu , Qingyang Li
Within the framework of China’s model of modernisation, common prosperity has become a central policy goal, with openness—especially through trade liberalisation—serving as a key mechanism. This study investigates whether trade liberalisation promotes common prosperity. To this end, it analyses panel data from 284 Chinese cities between 2000 and 2020, combined with micro-level data from the China Family Panel Studies (CFPS). The results demonstrate that trade liberalisation significantly increases household income, reduces income inequality, and enhances intergenerational income mobility. Mechanism analysis indicates that these effects are a consequence of job creation, labour mobility, and human capital accumulation. Heterogeneity analysis further reveals that border cities, high-technology cities, and larger urban areas benefit more significantly, with export liberalisation assuming a more prominent role than import liberalisation due to their distinct transmission channels. Overall, the findings suggest that trade liberalisation fosters economic growth and reconciles efficiency with equity, advancing the goal of common prosperity.
{"title":"Can Trade Liberalisation Promote Common Prosperity?— Empirical Evidence from Chinese Cities","authors":"Tianchen Wang , Kangyin Lyu , Qingyang Li","doi":"10.1016/j.eap.2025.10.022","DOIUrl":"10.1016/j.eap.2025.10.022","url":null,"abstract":"<div><div>Within the framework of China’s model of modernisation, common prosperity has become a central policy goal, with openness—especially through trade liberalisation—serving as a key mechanism. This study investigates whether trade liberalisation promotes common prosperity. To this end, it analyses panel data from 284 Chinese cities between 2000 and 2020, combined with micro-level data from the China Family Panel Studies (CFPS). The results demonstrate that trade liberalisation significantly increases household income, reduces income inequality, and enhances intergenerational income mobility. Mechanism analysis indicates that these effects are a consequence of job creation, labour mobility, and human capital accumulation. Heterogeneity analysis further reveals that border cities, high-technology cities, and larger urban areas benefit more significantly, with export liberalisation assuming a more prominent role than import liberalisation due to their distinct transmission channels. Overall, the findings suggest that trade liberalisation fosters economic growth and reconciles efficiency with equity, advancing the goal of common prosperity.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 1166-1190"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146022644","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}
The "Reddito di cittadinanza" (CIS, Citizens' Income Support) provides cash transfers to low-income households. Its distribution across Italian municipalities exhibits clear geographical concentration and spatial interdependence. Using 2021 municipal data, Spatial Durbin Models show that socio-economic factors significantly influence both CIS participation rates and the amount of support received, with significant spillovers across neighboring municipalities. We find a robust inverse relationship between CIS and municipal spending on social services, consistent with CIS operating as a compensatory mechanism where local social spending is thin, especially in Southern regions. Results are stable across alternative spatial specifications and robust to an IV strategy that treats local social spending as endogenous. While CIS provides short-term relief for vulnerable individuals, persistent regional disparities in social service spending highlight the need for integrated national-local policies to address long-term socio-economic inequalities.
{"title":"Italy's citizens' income program as a compensatory mechanism. A spatial analysis of regional disparities in welfare policies","authors":"Francesco Aiello , Graziella Bonanno , Lucia Errico , Sandro Rondinella","doi":"10.1016/j.eap.2025.12.032","DOIUrl":"10.1016/j.eap.2025.12.032","url":null,"abstract":"<div><div>The \"Reddito di cittadinanza\" (CIS, Citizens' Income Support) provides cash transfers to low-income households. Its distribution across Italian municipalities exhibits clear geographical concentration and spatial interdependence. Using 2021 municipal data, Spatial Durbin Models show that socio-economic factors significantly influence both CIS participation rates and the amount of support received, with significant spillovers across neighboring municipalities. We find a robust inverse relationship between CIS and municipal spending on social services, consistent with CIS operating as a compensatory mechanism where local social spending is thin, especially in Southern regions. Results are stable across alternative spatial specifications and robust to an IV strategy that treats local social spending as endogenous. While CIS provides short-term relief for vulnerable individuals, persistent regional disparities in social service spending highlight the need for integrated national-local policies to address long-term socio-economic inequalities.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 690-708"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145884450","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 : 2026-01-01DOI: 10.1016/j.eap.2025.12.037
Mingmao Deng , Chun Mei
This research examines the extent to which industry tournament incentives influence firms’ labor investment efficiency. We develop two opposing hypotheses based on the potential advantageous and adverse impacts of these incentives. Consistent with the favorable perspective, our empirical analyses reveal a statistically significant and economically meaningful positive relationship, suggesting that greater industry tournament incentives enhance labor investment efficiency. Analyses of subsamples indicate that such incentives mainly alleviate labor overinvestment, especially by curbing over-hiring and over-firing, with little influence on underinvestment cases. Additional cross-sectional tests reveal that this positive influence is more pronounced in firms characterized by greater agency frictions and weaker governance monitoring. Overall, these results contribute to the body of work on executive incentives by underscoring the disciplinary function of industry tournament incentives in labor allocation decisions.
{"title":"Do industry tournament incentives affect labor investment efficiency?","authors":"Mingmao Deng , Chun Mei","doi":"10.1016/j.eap.2025.12.037","DOIUrl":"10.1016/j.eap.2025.12.037","url":null,"abstract":"<div><div>This research examines the extent to which industry tournament incentives influence firms’ labor investment efficiency. We develop two opposing hypotheses based on the potential advantageous and adverse impacts of these incentives. Consistent with the favorable perspective, our empirical analyses reveal a statistically significant and economically meaningful positive relationship, suggesting that greater industry tournament incentives enhance labor investment efficiency. Analyses of subsamples indicate that such incentives mainly alleviate labor overinvestment, especially by curbing over-hiring and over-firing, with little influence on underinvestment cases. Additional cross-sectional tests reveal that this positive influence is more pronounced in firms characterized by greater agency frictions and weaker governance monitoring. Overall, these results contribute to the body of work on executive incentives by underscoring the disciplinary function of industry tournament incentives in labor allocation decisions.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 709-720"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145884451","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 : 2026-01-01DOI: 10.1016/j.eap.2025.12.014
Jianghe Chen, Fengying Hu
Increasing the consistency between corporate carbon disclosures and carbon performance is essential for combating climate change. This study utilizes China’s 2020 carbon neutrality commitment as a natural experiment. Employing a difference-in-differences (DID) methodology, the research examines how carbon commitments influence the consistency of corporate carbon disclosure and carbon performance. The findings indicate that carbon commitments significantly enhance both carbon disclosure and carbon performance, while also fostering greater consistency between the two. Mechanism analysis suggests that carbon commitments mainly promote consistency by influencing corporate executives’ green perceptions and attracting heightened external green attention. Additional analysis reveals that these effects are more pronounced in regions with stronger external regulatory pressures and in firms with robust internal controls, higher-quality financial disclosures, and more advanced digital transformations. These insights offer a deeper understanding of the policy effects of carbon commitments and the factors that influence corporate carbon governance.
{"title":"Can carbon commitments enhance the consistency of carbon disclosure and carbon performance? A natural experiment based on China's carbon neutrality commitment","authors":"Jianghe Chen, Fengying Hu","doi":"10.1016/j.eap.2025.12.014","DOIUrl":"10.1016/j.eap.2025.12.014","url":null,"abstract":"<div><div>Increasing the consistency between corporate carbon disclosures and carbon performance is essential for combating climate change. This study utilizes China’s 2020 carbon neutrality commitment as a natural experiment. Employing a difference-in-differences (DID) methodology, the research examines how carbon commitments influence the consistency of corporate carbon disclosure and carbon performance. The findings indicate that carbon commitments significantly enhance both carbon disclosure and carbon performance, while also fostering greater consistency between the two. Mechanism analysis suggests that carbon commitments mainly promote consistency by influencing corporate executives’ green perceptions and attracting heightened external green attention. Additional analysis reveals that these effects are more pronounced in regions with stronger external regulatory pressures and in firms with robust internal controls, higher-quality financial disclosures, and more advanced digital transformations. These insights offer a deeper understanding of the policy effects of carbon commitments and the factors that influence corporate carbon governance.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 944-964"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145925885","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}
This study investigates the impact of mega events and large-scale projects on economic diversification and sustainability in two Gulf Cooperation Council countries, namely Qatar and Saudi Arabia from 1996 to 2022. While these countries have emphasized the role of economic diversification as a crucial aspect to mitigate their dependence on hydrocarbons, the extent of their success in achieving this goal remains relatively unknown. This study employs advanced econometric methods, including an Autoregressive Distributed Lag model with structural breaks and a time-varying Granger causality analysis, to explore the impact of mega events on economic growth and diversification. We find that government expenditure positively affects GDP growth, especially after the announcement of mega events. Interestingly, this positive effect is more pronounced in the non-oil sector compared to the oil sector. Thus, our results demonstrate how these events affect a country’s diversification and sustainability efforts, ultimately reducing the reliance on oil and gas revenues. We also find that labor and capital accumulation play a more substantial role in fostering economic growth in the non-oil sector compared to the oil sector. Our results are of paramount importance to policymakers and stakeholders with several policy implications.
{"title":"From oil reliance to diversified growth: The role of mega events and large-scale projects in two resource-rich economies","authors":"Mouyad Alsamara, Karim Barkat, Zouhair Mrabet, Karim Mimouni","doi":"10.1016/j.eap.2025.09.021","DOIUrl":"10.1016/j.eap.2025.09.021","url":null,"abstract":"<div><div>This study investigates the impact of mega events and large-scale projects on economic diversification and sustainability in two Gulf Cooperation Council countries, namely Qatar and Saudi Arabia from 1996 to 2022. While these countries have emphasized the role of economic diversification as a crucial aspect to mitigate their dependence on hydrocarbons, the extent of their success in achieving this goal remains relatively unknown. This study employs advanced econometric methods, including an Autoregressive Distributed Lag model with structural breaks and a time-varying Granger causality analysis, to explore the impact of mega events on economic growth and diversification. We find that government expenditure positively affects GDP growth, especially after the announcement of mega events. Interestingly, this positive effect is more pronounced in the non-oil sector compared to the oil sector. Thus, our results demonstrate how these events affect a country’s diversification and sustainability efforts, ultimately reducing the reliance on oil and gas revenues. We also find that labor and capital accumulation play a more substantial role in fostering economic growth in the non-oil sector compared to the oil sector. Our results are of paramount importance to policymakers and stakeholders with several policy implications.</div></div>","PeriodicalId":54200,"journal":{"name":"Economic Analysis and Policy","volume":"89 ","pages":"Pages 1149-1165"},"PeriodicalIF":8.7,"publicationDate":"2026-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146022717","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}
扫码关注我们
求助内容：
应助结果提醒方式：
京公网安备 11010802042870号