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on China |
| By: | You Wu (School of Economics, University of Sheffield, Sheffield S10 2TU, UK) |
| Abstract: | China’s New Energy Demonstration Cities (NEDCs) sought to develop affordable, clean energy. This study therefore examines the NEDCs’ effectiveness in mitigating energy poverty (EP). We focus on electricity consumption, economic development, and renewable uptake – three components of International Energy Agency’s (IEA) measure of EP. Using panel data from 281 Chinese cities (2011-2021) and propensity score matching with difference-in-differences, the analysis found no statistically or economically significant overall effect of NEDCs on reducing EP. This is also consistent across the three IEA sub-components. The findings suggest this ineffectiveness may stem from weak enforcement, low public participation, and inequalities in income and education. |
| Keywords: | Difference-in-differences; China; New Energy; Development Policy; Energy Poverty |
| JEL: | Q48 C23 P28 R11 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:shf:wpaper:2026001 |
| By: | Celine (Yue) Fei; Ulrich Hege; Xiao Jia |
| Abstract: | We study how IPO reforms transmit to venture capital (VC) markets using the introduction of China’s entrepreneurial boards, ChiNext and the registration-based STAR. We document that both boards attract younger, higher-growth firms with weaker fundamentals in levels, but post IPO growth persists for ChiNext firms while decelerating sharply for STAR firms. VC backing plays different roles across regimes: on ChiNext it aligns with valuation premia and long-run outperformance, whereas on STAR it mainly predicts higher first-day returns. To identify causal effects on VC allocation, we construct novel text-based regulatory exposure measures from listing documents using keyword matching and Sentence-BERT semantic similarity, and show that VC financing reallocates toward firms more aligned with “supported” activities. |
| Keywords: | IPO Reforms; IPO Listing Requirements; Venture Capital; Business Description; BERT; China |
| JEL: | G24 G28 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2025_736 |
| By: | Ho, Ka Ki Lawrence; , KuoRayMao; Chan, Henry Hin-Yan; Hagan, Alex |
| Abstract: | This article applies institutional and media content analysis to investigate the legitimation and criminalisation of cross-border trade within the “Southern Chinese Seaboard, ” specifically between Taiwan and China and between Hong Kong and mainland China, a region characterised by diverse taxation and legal jurisdictions, as well as rapidly evolving political-economic and regional geo-political dynamics. This study re-evaluates common media portrayals and simplistic perceptions of “illicit” and “parallel trading” as merely spontaneous actions by individuals embedded in criminal networks. Instead, we posit that such activities stem from deliberately vague taxation and legal definitions, as well as enforcement strategies resulting from collusion between state and non-state actors. Utilising the “Regime of Permission” framework, this study examines how political actors manipulate the definitions of licit and illicit trading to achieve political objectives, thereby creating loopholes that non-state actors exploit. The findings demonstrate that the delineation and oversight of illicit trade have evolved in response to shifting economic relationships and the development of enforcement institutions within a changing geo-political landscape, offering deeper insight into the state’s role in creating and maintaining liminal spaces that regulate the boundaries between lawful, unlawful, and socially illicit trade. |
| Date: | 2026–03–03 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:c3d2b_v1 |
| By: | Becker, Sascha O. (University of Oxford); Panin, Amma (Université catholique de Louvain, LIDAM/CORE, Belgium); Pfaff, Steven; Rubin, Jared |
| Abstract: | This chapter examines the role of religion in economic development, both historically and today. Religion's influence varies globally, with high religiosity in countries like Pakistan and low rates in China. Despite declines in some Western countries, religion remains influential worldwide, with projected growth in Muslim populations due to higher fertility rates. Religion continues to shape societal norms and institutions, such as education and politics, even after its direct influence fades. The chapter explores how religious institutions and norms have impacted economic outcomes, focusing on both persistence and decline. It also examines cultural transmission, institutional entrenchment, networks, and religious competition as mechanisms sustaining religion's influence. We explore the relationship between religion and secularization, showing that economic development does not always reduce religiosity. Lastly, the chapter highlights gaps in the literature and suggests future research areas on the evolving role of religion in economic development. |
| Keywords: | Religion ; Economic Development ; Religiosity ; Cultural Transmission ; Secularization ; Historical Persistence ; Religious Competition ; Networks ; Social Norms |
| JEL: | D85 I25 J10 N30 O33 O43 P48 Z10 Z12 |
| Date: | 2025–03–01 |
| URL: | https://d.repec.org/n?u=RePEc:cor:louvco:2025006 |
| By: | He; Z.; |
| Abstract: | Using a non-parametric fuzzy regression discontinuity design and leveraging data from the China Health and Retirement Longitudinal Study (CHARLS), this paper explores the role of the urban-rural split in China’s pension system in shaping healthcare utilization and health outcomes. Our estimates show that receipt of public pensions, particularly the Urban Employee Basic Pension Scheme (UEBPS), significantly improves self-reported health, mental health (CES-D scores), and physical health (ADL scales), especially among urban married males. However, there are no significant effects on healthcare utilization among urban residents. Moreover, social pensions, the New Rural Pension Scheme (NRPS), increase healthcare utilization(inpatient/outpatient)and corresponding healthcare spending of the rural population, particularly among married male residents. Additionally, these findings exhibit heterogeneity across gender, rural-urban differences, hukou status, and marital status. Furthermore, the health effects stemming from urban pension schemes can be explained by retirement, providing more leisure time for males and grandparental childcare responsibilities for females. However, the positive effect on healthcare use of rural males and the null effect for rural females are driven by the pure income effect of household joint financial pooling under the NRPS and female altruism. Finally, we find that integrating NRPS and URPS increased migration, non-agricultural employment, and health of non-pensioners, with no effect on rural pensioners. |
| Keywords: | pension schemes; non-parametric fuzzy regression discontinuity; health service utilization; urban-rural split; |
| JEL: | I0 I1 J0 J1 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:yor:hectdg:26/03 |
| By: | Xingjian Ding; Yumin Hu; Shilei Liu; Cong Peng; Jintao Xu; Mingzhi (Jimmy) Xu; Qinghua Zhang |
| Abstract: | We estimate the causal impact of highway expansion on forest quality in China, where expressway growth coincided with widespread greening. We link maps of highways built in 2000-2010 to China's National Forest Inventory: over 18, 000 geo-located plots in 11 provinces surveyed in 1999-2003 and 2009-2013, with ground measures of standing timber volume and canopy structure. Long-difference and instrumental-variables designs—using a terrain-based least-cost network and the 1962 road plan—show that moving 10 km closer to a new highway increases timber volume by 2-4.3%, with effects concentrated 1-20 km from roads. The implied gains in forest biomass correspond to 55.8-141.9 Mt of CO2, comparable at the upper bound to the Netherlands' annual emissions. Under strict land-use controls and forest tenure reform, improved downstream market access induces investment and specialization in forestry. A calibrated spatial equilibrium model attributes most of the estimated gains to downstream market access, highlighting the environmental benefits of connectivity. |
| Keywords: | public infrastructure, environmental externalities, forest management, market access, land-use regulation |
| Date: | 2026–03–17 |
| URL: | https://d.repec.org/n?u=RePEc:cep:cepdps:dp2162 |
| By: | Mahbuba Aktar (Center for Financial Development and Stability at Henan University, and School of Economics at Henan University, Kaifeng, Henan); Makram El-Shagi (Center for Financial Development and Stability at Henan University, and School of Economics at Henan University, Kaifeng, Henan); Florian Gerth (Asian Institute of Management, Philippines) |
| Abstract: | Financial frictions are a key determinant of monetary policy transmission. Using provincial Chinese data for 2011–2019, we examine this question through the lens of regional variation in traditional and digital financial inclusion. We combine high-frequency monetary policy shocks with state-dependent local projections, in- terpreting traditional inclusion as a proxy for liquidity constraints and digital inclusion as a proxy for search frictions. Regions with stronger liquidity constraints exhibit weaker output and price responses, in line with the predictions of New Keynesian models with heterogeneous agents. Lower search frictions instead tend to amplify transmission over medium horizons, though short-run effects are mixed. |
| Keywords: | monetary policy transmission; regional differences; financial frictions; financial inclusion; high-frequency identification |
| JEL: | E5 E4 C2 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:fds:dpaper:202604 |
| By: | Singh, Rahul |
| Abstract: | This paper constructs a seven-pillar Comprehensive National Power (CNP) Index to provide a transparent, replicable benchmark of the relative power positions of India and China within a ten-country reference group comprising the United States, China, India, Russia, Japan, Germany, the United Kingdom, France, Brazil, and the Republic of Korea. Drawing on twenty-one publicly available indicators sourced from the IMF World Economic Outlook (2024), SIPRI (2025), WIPO Global Innovation Index (2024), Stanford HAI Global AI Vibrancy Tool (2024), UNDP Human Development Report (2025), Brand Finance Global Soft Power Index (2025), the Fund for Peace Fragile States Index (2024), the World Bank World Governance Indicators (2023), and the UN E-Government Development Index (2024), each indicator is subjected to min–max normalisation before being aggregated into pillar scores and a weighted composite index. The results show that China’s CNP score of 62.35 leads India’s 33.83 by 28.5 index points—a gap driven primarily by China’s dominance in the Economic (pillar score: 78.2 vs. 16.9), Technological (57.8 vs. 18.8), and Diplomatic (64.7 vs. 23.6) dimensions. India records superior scores in Human Capital (62.5 vs. 55.5) and Soft Power (68.7 vs. 61.8), suggesting latent assets whose conversion into strategic capability remains the central policy challenge. The paper situates these quantitative findings within the broader theoretical literature on power transition, argues that the gap is structurally significant but not irreversible, and derives policy implications for India’s long-run strategic posture. |
| Date: | 2026–03–12 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:fhgzj_v1 |
| By: | Sonali Chowdhry; Inga Heiland; Hendrik Mahlkow |
| Abstract: | This paper highlights an underexplored margin of heterogeneity that shapes resilience to disruptions in global maritime trade - the differential reliance of countries and sectors on specific categories of vessels. We combine US bills of lading records with ship registry and AIS-based port call data to document new stylized facts on vessel deployment, including switching patterns across ships, country specialization in shipbuilding, and the composition of fleets serving different country pairs. Exploiting the 2016 Panama Canal expansion as a quasi-natural experiment, we further provide the first direct estimate for the elasticity of substitution between vessels across size classes. Building on the empirical evidence, we then introduce endogenous vessel choice into a quantitative general equilibrium trade model that features multiple transport modes and a global market for shipping services. The model allows us to quantify the trade and welfare effects of two recent policy proposals that target specific ship types, namely, fees for Chinese-built vessels entering US ports and the inclusion of the maritime transport sector in the EU Emission Trading System. |
| Keywords: | Maritime transport, Quantitative general equilibrium trade models, EU ETS, Port fees, China |
| JEL: | F13 F14 F52 R41 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:diw:diwwpp:dp2158 |
| By: | Koch, Alexander (Aarhus University); Kragl, Jenny (EBS Business School); Ming, Sijuan (Aarhus University); Nafziger, Julia (Aarhus University) |
| Abstract: | Persistent gender gaps in self-promotion contribute to unequal labor market outcomes. In this study, we investigate how AI-assisted writing tools shape self-promotion, and, as a secondary outcome, confidence and how these effects interact with gender. For this purpose, we conducted an online experiment in China in which participants wrote self-promotion texts, provided a numerical self-promotion score and stated their confidence about how they will perform in an upcoming math and logic test. We find suggestive evidence that AI assistance reduces numerical self-evaluations. Neither gender nor the interaction between gender and AI assistance is significantly related to self-promotion or confidence. We conduct a text analysis to investigate the mechanisms behind these results. |
| Keywords: | self-promotion, confidence, AI assistance, gender gaps |
| JEL: | C90 D03 D83 J16 M12 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18441 |
| By: | Zeen He (Lancaster University, Management School); Luu Duc Toan Huynh (Queen Mary University of London, School of Business and Management) |
| Abstract: | This paper leverages China’s 2006 housing reform and a non-parametric Regression Discontinuity Design (RDD) to identify the causal impact of housing wealth on health and healthcare spending across age groups. A positive housing wealth shock leads to an increase in out-of-pocket medical expenses of the elderly and children at both the extensive and intensive margins, thereby improving their health. These effects differ across age cohorts, highlighting how positive wealth shocks translate into health improvements through direct spending and private insurance uptake. In contrast, these health effects are not evident among young adults. Overall, the findings indicate that wealth shocks reduce health inequality within vulnerable households. The underlying mechanisms differ by age group: a pure wealth effect for the elderly, precautionary savings incentives for younger adults, and intergenerational investments for children. |
| Keywords: | Housing wealth; Medical expenditure; Health; China; Age differences |
| JEL: | G51 I11 I14 |
| Date: | 2026–03–09 |
| URL: | https://d.repec.org/n?u=RePEc:cgs:wpaper:124 |
| By: | You Wu (School of Economics, University of Sheffield, Sheffield S10 2TU, UK); Andrew Burlinson (School of Economics, University of Sheffield, Sheffield S10 2TU, UK) |
| Abstract: | China’s New Energy Demonstration City (NEDC) policy aims to address energy and environmental challenges. While two-way fixed effects (TWFE) regression is often used to evaluate such policies within difference-in-differences frameworks, it can lead to incorrect conclusions if unit and time effects are mis-specified. Re-evaluating the impact of the NEDC policy on energy poverty (EP), as studied in Ma et al. (2025), by correctly specifying unit-specific and time-specific effects, we find that: i) the parallel trends assumption fails, and ii) the previously reported impact on EP becomes economically and statistically insignificant. Whether NEDCs reduce EP therefore remains an open question. |
| Keywords: | Policy evaluation; Two-way fixed effects regression; Difference-in-differences; Energy Poverty |
| JEL: | C12 C23 Q41 Q48 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:shf:wpaper:2026002 |