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Economic Survey
 
2020 Vol.37 Issue.4
Published 2020-07-10
1 Research on Spatial-temporal Differences and Influencing Factors of Economic Growth of Counties in Yangtze River Delta
ZHAO Dan1, SUN Dongqi2, CHEN Mingxing2
Regional economic disparities have great influences on national economy and social development which cannot be ignored, and it has been one of the core issues of research on regional economics. The paper took 1990-2017 as the research period and 63 counties in Yangtze River Delta (YRD) as the research object, using the coefficient of variation, Theil index and its second order decomposition to calculate the overall and internal economic differences. The paper analyzed the spatial pattern of economic differences based on ESDA method, and used the spatial regression model to explore globalization, marketization, decentralization and localization in the mechanism of economic differences of counties in YRD. The results showed that: (1) From 1990 to 2017, the overall economic differences of counties showed a trend of convergence. As for YRD, the regional inequality is more obvious in small scale units. (2) From 1990 to 2017, there was a significant positive spatial correlation among the economy of YRD, and the county economy showed a polarized trend with an overall unbalanced development, while the local economic development in YRD is relatively coordinated. (3) Globalization, marketization, decentralization and localization all participate in the formation of regional inequality. To be specific, decentralization has a significant role in promoting economic growth in each period, marketization has greater influence in the early 1990s, and globalization is the most influential factor in the early 21st century. Localization has always been an important factor for the increase of regional disparities in YRD, especially the industrialization level and the capital scale. The impact of the quantity of labor force on regional inequality has gradually turned from a negative effect to a positive effect under the new circumstances.
2020 Vol. 37 (4): 1-10 [Abstract] ( 1012 ) [HTML 1KB] [ PDF 2368KB] ( 1426 )
11 Study on Regional Innovation Capacity and Upgrade Path of Henan Province
ZHAO Hongbo1,2, LI Guanghui1, MIAO Changhong1,2
Based on the perspective of the number of patents, this paper studies the innovation ability and its relative growth rate of Henan Province from 2004 to 2016 on different spatial scales, and uses the coupling coordination model to reveal the spatial and temporal pattern evolution law of the coupling coordination status between innovation ability and economic development level, and uses the Geodetector to analyze the changing process of the influencing factor of innovation ability development in Henan province under different spatial scales. The results show that: (1) The overall innovation capability of Henan Province continued to be increased during the period of 2004-2016, but the spatial differentiation of regional innovation capacity for a long time had been obvious. (2) In the 18 cities of Henan Province, the growth rate of innovation capacity of 14 cities were not as fast as that of provincial level, and the spatial structure of the relative growth rate of innovation was the same as the spatial pattern of the creative ability, and the development of regional innovation ability in Henan Province had the “Club Convergence” effect. (3) From the perspective of coordination and coupling between innovation ability and economic development, from 2004 to 2016, 16 cities in Henan Province were in a state of moderate and low coordination and coupling, and only Zhengzhou's innovation ability and economic development ability reached a high degree of coordination and coupling. (4) On the provincial scale, the level of economic development and social literacy was the most important explanation of innovation, and the government's financial support for innovation was obvious to Henan's innovation ability; On the level city scale, talent advantage had been gradually become the first factor influencing the spatial pattern of innovation ability of Henan Province. Influence of that economic development level and the degree of innovation circulation on the innovation ability pattern in Henan Province appeared fluctuating upward trend.
2020 Vol. 37 (4): 11-19 [Abstract] ( 1066 ) [HTML 1KB] [ PDF 4790KB] ( 1102 )
20 Research on the Impact of Airport Economy on Regional Economic Development
GAO Youcai, HE Tao
The development of the airport-based airport economy is an important way to promote industrial and technological upgrading, achieve regional coordination and high-quality development. The article takes the airport economy by sub-hub airport type and sub-regional distribution as the research object, using the data of 37 “million-level” airports and their regions in China from 2013 to 2017, and empirically analyzes the influencing factors of the airport economic development and the impact of economic development on the region. The empirical results show that the airport economy dominated by the airport industry is the “growth pole” of the regional economy. Its growth effect can significantly drive the rise and development of the entire regional economy. Factors such as budget expenditure are positively correlated. Therefore, various regions should strengthen the strategic position of the airport economy, construct the airport industry system according to local conditions, train and introduce professional talents and other related measures to promote the rapid development of the airport economy.
2020 Vol. 37 (4): 20-27 [Abstract] ( 772 ) [HTML 1KB] [ PDF 1282KB] ( 2164 )
28 The Willingness to Pay for Information Services of Farmers and Its Determinants in the Process of New Urbanization——An Analysis Based on Data from 652 Farmers in Beijing
CAO Bingxue, LI Jin, FENG Xian
This paper uses Oprobit model and Interval-censored model to analyze the influencing factors of farmers' WTP and amount of WTP for information service and calculate the farmers' specific amount of WTP for information service from the perspective of information ecology based on the survey data of farmers in Beijing. The results show that a small number of farmers have WTP for information services, the vast majority of farmers' amount of WTP for information services is ‘less than 10 yuan per month', and the main forms of paid information services are ‘short message monthly package' and ‘pay-TV'; the variables of information person, resource and technology affect the farmers' WTP for information services mainly; while, the variables of information person and environment affect the farmers' amount of WTP for information services entirely; through two methods, the annual farmers' amount of WTP for information services are 144.24 yuan and 201.6 yuan, accounting for 0.22% and 0.31% of the total net income of farmers.
2020 Vol. 37 (4): 28-37 [Abstract] ( 649 ) [HTML 1KB] [ PDF 1420KB] ( 890 )
38 Spatio-temporal Evolution and Driving Mechanism of Urban and Rural Construction Land in the Central Rural Industrialized Areas of China——An Empirical Research of Changyuan City and Xinxiang County, Henan Province
SHI Yanwen1, LI Xiaojian1,2
The thesis focuses on the spatial evolution of urban and rural construction lands in central industrial areas by choosing Changyuan City and Xinxiang County with outstanding industrial development and some characteristics of rural industry as examples. The following conclusions have been reached by means of multi-source data, various spatial analysis approaches and structural equation models: From 1975 to 2019, the spatial distribution of urban and rural construction land in Changyuan City and Xinxiang County has changed from homogeneous development to concentrated development and then to the regional overall development; In this period, the spatial scales of urban and rural construction land both in Changyuan City and Xinxiang County have been expanded prominently. The expansion areas mainly focus on central town and townships with good rural industrial development; Based on the confirmatory analysis of structural equation model, the industrial development, the human culture and economy of the society, government mechanism and the town development are the main driving forces of the spatial evolution of central industrialized areas. In conclusion, the spatial change of urban and rural construction in industrialized areas is highly overlapped with that in industrial development zones. Each region should adopt a development strategy tailored to local conditions, optimize and regulate land use policies and markets in a timely manner, and promote regional land use.
2020 Vol. 37 (4): 38-46 [Abstract] ( 819 ) [HTML 1KB] [ PDF 4558KB] ( 1258 )
47 Research on the Change of Migrant Workers' Employment Structure and Influencing Factors Under the Background of Industrial Upgrade
LI Tiancheng, MENG Fancun
Industrial upgrading is bound to have a profound impact on the employment of migrant workers. This paper uses the 2011 and 2016 the China Migrants Dynamic Survey (CMDS) data, combined with the macro annual data of the technical progress level of each province, empirically analyzes the trends and influencing factors of migrant workers' employment structure in the context of industrial upgrading. Studies have shown that the job structure of migrant workers' employment shows a trend of “downgrade”. Technological advancement has changed the influence of individual micro-features such as intergenerational, gender, education level, work experience, social relations and family economic factors on the employment structure of migrant workers. Technological advancement promoted employment upward flow of migrant workers receiving college education or above but lead to employment downward flow of migrant workers receiving high school education, and reduced the positive role of work experience in employment mobility; Technological advancement reduced the positive role of social relations in job hunting, and promoted the polarization of employment structure of migrant workers with better family conditions. The robustness test also proves the above conclusions.
2020 Vol. 37 (4): 47-55 [Abstract] ( 775 ) [HTML 1KB] [ PDF 1299KB] ( 1093 )
56 Productive Services and Global Value Chain Division of Labor System: A Study Based on China's Manufacturing Industry
CUI Riming, ZOU Kangqian
Based on the data of 14 manufacturing industries in China from 2005 to 2015 in the TiVA database, this paper uses Koopman's indicators of the global value chain division system to empirically study the impact of the producer service on the global value chain division system of China's manufacturing industry. The results show that: increasing the proportion of intermediate inputs of producer service greatly improve the status and participation of China's manufacturing industry labor division in the global value chain; the producer service industry has a greater impact on the forward linkage of China's manufacturing industry labor division in the global value chain; the producer service industry better improve the status of capital-intensive manufacturing value chain and the participation of labor-intensive manufacturing value chain, other results being consistent with the overall regression; the stability test results further confirm the conclusion that the producer service can promote the evolution of China's manufacturing global value chain division system.
2020 Vol. 37 (4): 56-63 [Abstract] ( 808 ) [HTML 1KB] [ PDF 1285KB] ( 1554 )
64 National Culture and Financial Development: An Empirical Research Based on Transnational Panel Data
TIAN Hui, SONG Qing, WEI Zhiwen
The six cultural indices of Hofstede and financial data from 39 countries in the world from 2003 to 2016, and the panel generalized least squares estimation method and panel correction standard error estimation method are used to empirically test the impact of national culture on national financial development. The results show that, national culture has a significant impact on a country's financial development, and different cultural dimensions have different effects on three types of financial development indicators: financial scale, activity, and efficiency. Specifically, the Power Distance positively affects the three types of financial development indicators, and Uncertainty Avoidance negatively affects the three types of financial development indicators. The Male/Female Degree has no effect on these three types of financial development indicators, and the Long/Short-term Orientation only has a positive impact on financial activity and efficiency. Individual/Collectivism orientation only negatively affects financial scale, while Tolerance/Restriction only positively affects financial scale. In addition, national culture has different effects on the financial scale, activity, and efficiency of all sample countries, developed economies, and developing economies.
2020 Vol. 37 (4): 64-72 [Abstract] ( 856 ) [HTML 1KB] [ PDF 1305KB] ( 1260 )
73 Financialization, Technological Innovation and Total Factor Productivity of Manufacturing Enterprises
CHEN Chiping1,2, KONG Lixia1
It is of great significance to guide the return of manufacturing enterprises to the main business from the perspective of technological innovation, and to promote the growth of total factor productivity of enterprises. Based on the panel data of 1763 listed manufacturing enterprises in China from 2007 to 2017, this paper empirically analyzes the relationship between financialization, technological innovation and total factor productivity of manufacturing enterprises. The study found: The financialization of manufacturing enterprises has a significant negative impact on total factor productivity, and the suppression of Chinese enterprises and low-profit enterprises is more obvious; Further through the mediation effect test, corporate financialization leads to a reduction in total factor productivity through “extrusion” technology innovation, technological innovation has played a part of intermediary role, and the increase in marketization has weakened the negative impact of corporate financialization on total factor productivity.
2020 Vol. 37 (4): 73-80 [Abstract] ( 974 ) [HTML 1KB] [ PDF 1355KB] ( 2085 )
81 Innovation Drive, Demographic Transition and High-quality Development of Manufacturing in China
GAO Lina, SONG Huiyong
Achieving high-quality development of manufacturing industry is the cornerstone of building a modern economic system and achieving the high-quality development of China's economy. The driving force for promoting the quality improvement of the manufacturing industry depends not only on the implementation effect of the innovation-driven development strategy in the new era, but also on the far-reaching impact of the demographic transition. Based on the provincial panel data from 2001 to 2016, this paper analyzes the impact of innovation capability and demographic changes on the quality of manufacturing development through the sysGMM method. The study found that: The impact of the innovation ability on the quality of manufacturing development has obvious spatial heterogeneity; The demographic transition significantly affects the quality of manufacturing development through labor cost effect, age structure effect and human capital accumulation effect. While the population aging and labor cost increase put pressure on the quality of manufacturing development, the human capital accumulation effect has not yet fully exerted a positive impact. Accordingly, different types of regions should develop differentiated guidance policies.
2020 Vol. 37 (4): 81-88 [Abstract] ( 751 ) [HTML 1KB] [ PDF 1337KB] ( 1666 )
89 Productive Services Agglomeration, Spatial Spillover and Urban Green Total Factor Productivity——Based on the Empirical Evidence from Yangtze River Delta
CHEN Xiaofeng1,2, ZHOU Jingjing1,2
Improving green total factor productivity(GTFP)through the producer services agglomeration not only frees up environmental capacity for high-quality urban development, but also points out the direction for innovation-driven industrial transformation and upgrading. The paper systematically measures the GTFP and its spatial & temporal characteristics, and conducts an empirical study on the impact of producer services agglomeration on GTFP. The results show that the producer services agglomeration has a significant positive effect on GTFP, and has obvious industry and spatial differences. Compared with the efficiency of green technology, the professional agglomeration and advanced development of producer services are more conducive to the progress of green technology, but there is still much room for improvement in human capital, technological innovation, the local role of opening up and spatial spillover. As a result, the role of producer services agglomeration in promoting GTFP of urban agglomerations across industries and regions is greatly reduced.
2020 Vol. 37 (4): 89-98 [Abstract] ( 1093 ) [HTML 1KB] [ PDF 1363KB] ( 1386 )
99 How Goodwill of Merge Influences Firm's Innovation Input?——Based on the Empirical Evidence from Strategic Emerging Industries in China
ZHU Lianmei, YANG Yinuo
This paper uses the sample of A—share listed companies in Emerging strategic industries from 2012—2016 to find out motivations and consequences about the goodwill of merge. We test the influence of the goodwill of merge on innovation input; analyzes whether the goodwill of merge had motivation with earnings management and affecting approaches of goodwill upon innovation input. This paper finds that the current capital market in China, the goodwill of merge in M&A has negative influence on innovation input. Considering the differences between the property right we find out this negative influence is mainly reflected in non-state-owned enterprises but has not serious effect for on state-owned enterprises; there are “real earnings management motives” behind the goodwill of merge and this approach has negative influence on innovation input; goodwill of merge increases the company's financing constraints and further influences the innovation input. This paper analyzed the produce motivation and affecting approaches about the goodwill of merge and provided certain direct experience evidence to deal the huge goodwill in A-share market, and also offer foundation to ensure company's innovation input.
2020 Vol. 37 (4): 99-107 [Abstract] ( 847 ) [HTML 1KB] [ PDF 1307KB] ( 1552 )
108 The Study of the Impact of Employees CSR Attributions on Helping Behavior: A Chain Mediating Model
LIU Dejun1, ZHANG Zhixin1, ZHANG Hui2
Corporate social responsibility (CSR) is the focus of current theoretical circles. According to attribution theory, whether CSR can stimulate employees helping behavior depends on how CSR is attributed to. The paper aims to explore the serial mediation mechanism by proposing organizational identity and affective commitment as a mediator of the relationship between CSR intrinsic/extrinsic attributions and employees helping behavior. The results indicated that intrinsic (extrinsic) attribution of employees has a significant positive (negative) impact on their helping behavior; employees CSR intrinsic attribution promotes affective commitment through the promotion of organizational identity, and then promotes employees helping behavior; employees CSR extrinsic attribution weakens affective commitment through the reducing of organizational identity, and then reduces employees helping behavior. The paper makes theoretical implications for literature of CSR and employees helping behavior, and has important guiding significance for management practice.
2020 Vol. 37 (4): 108-115 [Abstract] ( 830 ) [HTML 1KB] [ PDF 1332KB] ( 1934 )
116 A Study of Relationship Between Work Passion and Unethical Pro-organizational Behavior
WANG Ying
Based on the theory of social exchange and ego-depletion, this study explores the relationship between work passion and unethical pro-organizational behavior. Through a two-stage survey of 262 employees, it was found that: no matter whether it is obsessive work passion or harmonious work passion, it is possible to activate employees' unethical pro-organization behavior; self-depletion has partial mediation effect on the relation of obsessive work passion and unethical pro-organizational behavior; organizational identification plays a full intermediary role in the relation of harmonious work passion and unethical pro-organizational behavior; the principle ethical climate not only negatively regulates the relationship between organizational identity, self-depletion and unethical pro-organizational behavior, it also has a mediating effect on organizational identity and self-depletion. The findings of this study help to understand the intermediaries and boundary conditions that affect the unethical pro-organizational behavior, and guide managers to take reasonable measures to effectively manage unethical pro-organizational behaviors in organizational practice and actively guide the work passion of employees.
2020 Vol. 37 (4): 116-123 [Abstract] ( 656 ) [HTML 1KB] [ PDF 1373KB] ( 1543 )
124 The Influence of Regional Stereotype on Information Communication of Regional Featured Products and the Moderating Effect of Two-sided Message
LIU Zhonggang, LI Yao
Regional stereotype will influence consumer's attitude toward brand in the region. The article aims to explore the influence of regional stereotypes on information dissemination of regional featured products. Based on factor experiment 2 (infamous brand and famous brand) x 2 (one-sided message, two-sided message) x 2 (negative regional stereotype, positive regional stereotype), the study explored the influence of regional stereotype on marketing communication and the effect of two-sided message used in negative regional stereotype. Main conclusion: negative regional stereotype had a significant influence on consumers' judgement in information credibility, brand attitude, purchase intention, and the trust in negative rumor and the intention to spread it; and the negative effect of regional stereotype on Ad information credibility is more significant when brand is infamous(vs. famous brand); two-sided message (vs. one-sided message) can enhance Ad information credibility, brand attitude, and reduce rumor confidence and spreading intention in negative regional stereotype; and regional stereotype is a moderator on two-sided message's effect in enhancing Ad information credibility and in reducing confidence in rumor. These conclusions have certain enlightenment significance to the marketing communication of regional featured products facing negative regional stereotypes.
2020 Vol. 37 (4): 124-132 [Abstract] ( 790 ) [HTML 1KB] [ PDF 1437KB] ( 1442 )
133 Research on Job Anxiety, Work Engagement and Employee Creativity——The Moderating of Employee Empowerment
HAO Huijie
Employee creativity is an important value activity of an organization and a factor that affects enterprise creativity and builds a sustainable competitive advantage. Based on job anxiety and employee creativity, a research framework was constructed to explore the internal mechanism and boundary conditions of work engagement and employee empowerment in explaining creativity. Using SPSS and AMOS to analyze data on 234 questionnaires, the study found that job anxiety has a significant negative impact on employee creativity and work engagement; work engagement has a full mediating effect on the relationship between job anxiety and employee creativity; employee empowerment plays a positive role in regulating the relationship between work engagement and employee creativity. The research reveals the influence mechanism and boundary conditions of employee creativity, and provides theoretical perspective and practical revelation for enterprises under the influence of the epidemic to do employee emotion management and enhance employee creativity.
2020 Vol. 37 (4): 133-141 [Abstract] ( 773 ) [HTML 1KB] [ PDF 1346KB] ( 982 )
142 The Innovation Effect of Government Subsidy——A Discussion on the Optimal Subsidy Interval of Different Types of Innovation
ZHENG Yu
This paper uses panel threshold model to evaluate the innovation effect of government subsidy, and finds that: ① The innovation effect of government subsidy has certain heterogeneity with the different intensity of subsidy, and there is a subsidy interval to maximize innovation incentives. Through the intermediary effect model, it is found that“rent-seeking cost” may be an important channel for high subsidy to inhibit technological innovation of enterprises; ② Compared with utility model and design innovation, substantive innovation such as invention often needs higher subsidy threshold, and “moderate interval” of government subsidy also has played a more significant role in promoting substantive innovation such as invention; ③ We further investigate the difference of innovation incentive effect of government subsidy on technology intensive enterprises under different subsidy intensity. It is found that when the subsidy intensity is in the range of [0.020,0.086], the innovation incentive effect of government subsidy is the best. The above conclusions have obvious policy implications. According to the innovation types of enterprises, we implement differentiated subsidy policies, and dynamically adjust the subsidy intensity to the “appropriate range” of different innovation types, so as to effectively play the multi-dimensional innovation incentive effect of government subsidy.
2020 Vol. 37 (4): 142-149 [Abstract] ( 629 ) [HTML 1KB] [ PDF 1356KB] ( 747 )
150 Population Aging, the Old-age Insurance and Saving Rates of Urban Residents in China
YANG Zhiyuan, GAI Xiaomin
Using the provincial panel data of urban household survey (1995-2016), this paper conducts an empirical study of the effects of population aging and old-age insurance on the saving rates of urban residents; how the dependency of aged people on pensions influences these effects is also discussed. The results show that when the elderly rely more on pensions, the negative effect of old dependency ratio on saving rates becomes stronger. When there are less elderly people who rely on pensions, the negative correlation between pensions and the saving rates is more significant and reducing the burden of old-age insurance contribution can help decrease the saving rates. As the elderly rely more on pensions, the effect of increased contributors (workers and employees) of the old-age insurance on saving rates turns from negative to positive. Therefore, to reduce the saving rates, it is necessary to continue increasing the number of workers and employees contributed to the old-age insurance as well as the pension income and reducing the old-age insurance contribution, especially in the areas where the elderly rely less on pensions. In addition, it is also helpful to exploit Chinese grey market when the elderly rely more on pensions.
2020 Vol. 37 (4): 150-158 [Abstract] ( 856 ) [HTML 1KB] [ PDF 1301KB] ( 1793 )
159 How Does Financial Knowledge Affect Household Participation in Financial Market: Empirical Analysis Based on CHFS Data
JIA Xianjun
After the promulgation of the new regulations, China's financial market is facing profound changes, and the role of residents' financial knowledge level in investment behavior is more prominent. Based on the bank financial products, using the 2015 China Household Financial survey data (CHFS), this paper empirically tests the impact of financial knowledge on household participation in the financial market. The empirical results show that there is a significant inverted U-shaped relationship between financial knowledge and financial participation. This means that when the residents' financial knowledge reaches a high level, the proportion of their original bank financing as a relatively safe asset will decline; on the contrary, if the level of financial knowledge is set, the breaking of rigid payment of products will lead to the passive withdrawal of residents from the financing market. Therefore, strengthening residents' financial education, financial risk and investment knowledge is an important condition for the smooth transformation of bank financing and even the whole asset management market.
2020 Vol. 37 (4): 159-167 [Abstract] ( 834 ) [HTML 1KB] [ PDF 1388KB] ( 1417 )
168 Liquidity Risk, Credit Risk and Commercial Bank Liquidity Creation
LI Shuo, HOU Xiaohui
Based on the micro-data of 74 banks in China from 2011 to 2017, this paper empirically tests the impact of liquidity risk and credit risk on the liquidity of bank unit assets by constructing a dynamic panel data model. The research results show that: (1) The increase of liquidity risk will reduce the liquidity creation of China's banking sector; while the increase of credit risk increases the bank's liquidity creation level. (2) For banks of different ownership structure, there are significant differences in the impact of liquidity risk and credit risk on liquidity creation. Large state-owned banks and joint-stock banks have no significant impact on the liquidity creation of their unit assets, and this relationship is significantly negative in regionally operated urban commercial banks and rural commercial banks; whether it is a large state-owned bank, Joint-stock banks or local commercial banks, and the increase in credit risk has significantly increased the creation of liquidity of unit assets. (3) Asset size offsets the negative impact of liquidity risk on liquidity creation, but the impact of credit risk on liquidity creation does not depend on the size of the bank's assets.
2020 Vol. 37 (4): 168-176 [Abstract] ( 801 ) [HTML 1KB] [ PDF 1291KB] ( 1465 )
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