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Applied economics
Champman and Hall Ltd.
Applied economics

Champman and Hall Ltd.

0003-6846

Applied economics/Journal Applied economicsSSCIAHCIISSHP
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    Energy use in US manufacturing and increasing imports from China: Empirical analysis

    Oh, Kyungsoo
    6823-6831页
    查看更多>>摘要：This study numerically estimates the effect of increased Chinese import penetration using U.S. manufacturing-level panel data from 1997 to 2005. It also decomposes this effect into factor substitution effects and output scale effects. Since import penetration rates may have endogeneity problems, we use China's share of world trade to quantify Chinese import penetration. The results show that increased imports from China increase fuel and electricity consumption: the marginal effect of Chinese import penetration is small but statistically significant, ranging from about 0.05% to 0.08%. Interestingly, the decomposition reveals opposite effects across energy types: the factor substitution effect for fuel is positive, while the factor substitution effect for electricity is negative, despite the impact of Chinese imports. The effects on fuel and electricity are both significantly positive, while the effect on electricity is negative. These results suggest the need for different policy responses across industries to the effects of trade, with implications for the environmental problems caused by energy use.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis

    How does the digital economy affect value-added in China? Dual perspectives from digital demand and supply

    Mao, YuhangNiu, MengZhang, YabinWang, Zhenguo...
    6832-6854页
    查看更多>>摘要：The Digital Economy (DE) has dramatically changed our lives and economies. However, few have systematically quantified the economic impact of DE. To this end, we propose a systematic input-output framework to analyse the economic impact of DE. We detangle the intertwined relations between digital sectors and upstream and downstream sectors by evaluating the embodied and enabled value-added. Then we use the structural path analysis to find the core transmission paths between the digital and upstream and downstream sectors. Further, we use the structural decomposition analysis to determine the main drivers of DE affecting the embodied and enabled value-added. Our findings are as follows. First, the digital sectors have significantly driven the value-added of upstream and downstream sectors. Second, there is heterogeneity in the roles of the digital device and service sectors. Third, on the value-added path, The Other services sector is the non-digital sector, which is closely related to the digital sectors. Finally, the expanding digital demand and primary input are the major driving forces for China's rapid digital-embodied and digital-enabled value-added growth.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis

    Production operations, financing and information asymmetry in a supply chain with a random yield

    Ding, WenJin, Wei
    6855-6875页
    查看更多>>摘要：This paper studies bank loan and advance payment in a random yield supply chain, consisting of one core manufacturer and one capital-constrained supplier who possesses private information on the supply state. With an information advantage, the supplier has a motive to hide his actual capital requirements to obtain more funds and shift to other risky projects. We focus on the credit contract design, which helps effectively prevent the supplier's excess debt motive. We characterize the supplier's best response, the optimal contract menus and all participators' profits under information symmetry and asymmetry, respectively. By designing the credit contract, creditors can effectively prevent funds from flowing out of the supply chain in asymmetric cases. We then investigate the willingness of creditors to provide financing. Our findings show that the bank is always willing to provide financial support, regardless of the information state. However, the manufacturer's willingness to provide a loan depends on the value of the supplier's reservation profit. In addition, advance payment is preferable over bank loan for the supplier. Furthermore, we explore the value of information, illustrating that information harms the supplier but benefits creditors in most cases.
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    • NETL
    • NSTL
    • Taylor & Francis

    The persistent effects of early career contracts: evidence from NBA drafts

    Zhou, QiyaoHu, DebaoShi, Keren
    6876-6891页
    查看更多>>摘要：This article examines the persistent effects of early career contracts using the National Basketball Association (NBA)'s draft data over the period 1995-2019. We use regression discontinuity design (RDD) to compare the differences in career outcomes between the first-round picked rookies and the second-round picked ones. The empirical results suggest that draft rounds per se significantly influence a player's career outcome in almost all indicators (i.e. career earnings, total points scored, and total years played). Explorations of the mechanisms suggest that differences in rookie contract length and sunk costs influence teams' human capital investment in rookies.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis

    Does green innovation reduce carbon emission intensity of Chinese cities? Analysis based on GS2SLS

    Liu, DanyuLin, YongkangFang, Shijiao
    6892-6904页
    查看更多>>摘要：In the 14th Five-Year Plan, China's economic and social development aims to focus on carbon peaking and carbon neutrality. On the basis of panel data of 284 prefecture-level cities in China from 2011 to 2020, this study uses the generalized spatial two-stage least squares method (GS2SLS) to analyse empirically the relationship and mechanism between the green innovation and carbon emission intensity(CEI) of Chinese cities. The research reveals several findings. (1) The CEI of Chinese cities has a significant spatial spillover effect. Moreover, green innovation has reduced the CEI of Chinese cities. The robustness and endogenous tests further verified this conclusion. (2) The carbon emission reduction effect of green innovation shows significant regional heterogeneity, which is more significant in eastern regions and cities with high innovation capabilities. In contrast, this outcome is not significant in regions with weaker innovation capabilities and in the central and western regions. (3) Green innovation mainly reduces the CEI of Chinese cities by promoting the upgrading of industrial structures. A higher level of digital economy development will also have a significantly positive catalytic effect on green innovation to inhibit CEI.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis

    Network evolution underneath the volatility spillover in traditional and clean energy markets

    Chen, JinChen, YueGu, QinenZhou, Wei...
    6905-6921页
    查看更多>>摘要：When facing volatility spillovers in energy markets, all players require risk mitigation strategies to insulate themselves from the same. To prevent energy markets from being strongly crashed by volatility spillovers, which even trigger financial crises, in this paper, we use network analysis as an aid to identify spillovers among the main nine energy markets. Specifically, we first measure the volatility spillovers among the main energy markets through a BEKK model. Based on this, influential markets are identified by using network analysis. The coal, wind and water energy markets should be paid close attention as they occupy vital roles in the volatility spillover network. Even though clean energy markets contribute more in terms of market stability, traditional energy markets are still important to ensure energy supply when experiencing extreme crashes caused by COVID-19. In this paper, we make the contributions to analysing volatility spillovers in multiple energy markets and identifying crucial energy markets in volatility spillover networks, then provide more market information that helps the government and policymakers effectively manage systemic risks caused by volatility spillovers. The effective risk management of crucial energy markets enhances economic recovery and stability, especially in the post-COVID-19 era.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis

    α-returns to scale with quasi-fixed inputs: an application to Quebec hospitals

    Blavet, ThomasOuellette, PierreVigeant, Stephane
    6922-6938页
    查看更多>>摘要：This paper focuses on the determination and estimation of the optimal size of hospitals. To determine the optimal size of a production unit, we use the measurement of returns to scale (RTS) at the decision-making unit level. When the RTS are constant, the unit is deemed of optimal size as the average total cost is at its minimum. As we deal with public service in a non-market environment, we have to take into account the fact that hospitals may not operate efficiently. To estimate the required production frontier we adapt the alpha-returns to scale method (a DEA type algorithm compatible with non-convexity of the production set) to include quasi-fixed factors. This methodology is applied to Quebec hospitals at different points in time in order to capture the effect of the restructuring of the public health system over the last three decades. We conclude that by relying more on larger institution the scale efficiency of the public system has increased. However, in spite of the large reduction in the number of small hospitals and their replacement by very large structures, the movement may have gone too far, as most of the large institutions tend to exhibits decreasing returns to scale.
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    Assessing French departments' spending efficiency over time

    Ayouba, KassoumDuboz, Marie-LineLe Gallo, Julie
    6939-6964页
    查看更多>>摘要：We analyse the way in which spending efficiency of French departments evolved from 2007 to 2019. We use the time-dependent conditional order-m approach , which allows to account for the heterogeneity among departments, characterized by contextual variables, and to evaluate the effect of these variables. The results reveal a continuous improvement in their performance (management of total expenditures) over time and show that departments have much more room for improvement in the management of investment expenditures than in the management of operating costs. Moreover, the time variable has a positive effect on performance (shape of the frontier and catch-up) for both the operating and the investment specific models.
      原文链接:
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    • NSTL
    • Taylor & Francis

    Can Digital Financial Inclusion (DFI) effectively alleviate residents' poverty by increasing household entrepreneurship? - an empirical study based on the China Household Finance Survey(CHFS?

    Ding, TingLi, YueZhu, Wenzhong
    6965-6977页
    查看更多>>摘要：Based on data from CHFS, this paper explores the mitigating effect of DFI development to enhance household entrepreneurship on residents' income growth and asset poverty, and analyses whether there is significant diversity in the degree of impact between different regions and groups through a heterogeneity study. The study finds that DFI has a significant effect on poverty alleviation. In the mechanism analysis, the effect of DFI on income poverty and asset poverty alleviation through promoting household entrepreneurship is 2.97% and 9.27% respectively. In the heterogeneity, the development of DFI has a significant contribution to the alleviation of income poverty of rural residents and the alleviation of asset poverty of urban residents; among similar regions, the poverty effect alleviation effect is more pronounced for the group with higher education level. This paper enriches the research related to the promotion of entrepreneurship and thus poverty alleviation by DFI, and provides a theoretical basis and empirical reference for how to alleviate poverty by financial instruments.
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    Services Trade and Institutional Quality: Evidence from Africa

    Nemeckova, TerezaHayat, Arshad
    6978-6996页
    查看更多>>摘要：Africa seems to operate at a different structural path of economic development than expected. Unlike the long-awaited increase in manufacturing, services are bourgeoning on the continent and so increases the services trade. Our article points attention to this new phenomenon and investigates whether this new type of African trade promises better effects on institutional quality than traditionally dominant natural resources trade, leading often to devastating effects. If proved, this could have significant policy implications. We work with panel data of 40 African countries within the period 2005-2019 and use the structural equation model and the maximum likelihood method to estimate the effects of services trade in Africa on three selected variables of institutional quality. Our results show that services trade seems to be a statistically significant and positive determinant of institutional quality in Africa. However, the effects are not equal across the investigated service types.
      原文链接:
    • NETL
    • NSTL
    • Taylor & Francis