经济经纬
Home
Current Issue
Instruction
Subscription
Advertisement
Contact Us
Message
Chinese
经济经纬
Office
Author Center
Links
CNKI
WanfangData
CHINA GUODIAN
More
Quick Search
Advanced Search
Economic Survey
2024 Vol.41 Issue.6
Published 2024-11-10
3
Linkage between Intelligent Manufacturing and Enterprise Industrial Chains: Quasi-natural Experiments from China’s Intelligent Manufacturing Demonstration Projects——On a Quasi-natural Experiment of Chinese Intelligent Manufacturing Demonstration Project
DING Hua, REN Tao, DING Ning, WANG XueFeng
Using the intelligent manufacturing pilot demonstration special action as a quasi-natural experiment, and employing data from Chinese A-share manufacturing listed companies from 2007 to 2023, this paper utilizes a multi-period difference-in-differences model to study the impact of intelligent manufacturing pilot demonstration projects on the degree of inter-industry linkage within enterprises. The results indicate that the implementation of intelligent manufacturing pilot demonstration projects significantly enhances the degree of inter-industry linkage within enterprises. Robustness checks, including the use of a multi-time-point propensity score matching difference-in-differences model and instrumental variable methods, further support the baseline estimation results. The findings of the mechanism test reveal that intelligent manufacturing pilot demonstration projects enhance the degree of inter-industry linkage within enterprises by improving the integration capabilities of the industrial chain and increasing investment in innovation. Additionally, the degree of product supply-demand matching, bargaining power, and the level of specialization in division of labor positively moderate the promotional effect of intelligent manufacturing pilot demonstration projects on the inter-industry linkage of enterprises. Further analysis results show that the effect of intelligent manufacturing pilot demonstration projects on improving the degree of connection between industrial chains is more significant in high-tech industries and non-state-owned enterprises. For enterprises with low concentration of suppliers and high concentration of customers, implementing intelligent manufacturing pilot demonstration projects can significantly enhance the degree of connection between enterprises industrial chains. This study evaluates the economic outcomes of smart manufacturing pilot demonstration projects from the perspective of industrial chain linkages, reveals the intrinsic mechanisms by which smart manufacturing impacts industrial chain linkages, and provides a theoretical basis for enhancing the resilience and security level of industrial and supply chains with smart manufacturing as the main direction.
2024 Vol. 41 (6): 3-15 [
Abstract
] (
374
) [
HTML
1KB] [
PDF
1507KB] (
501
)
16
Transportation Infrastructure Network Construction and Enterprise Export Product Quality Upgrading: From the Perspective ofUnified National Market
DING Guoning, ZHAO Jiazhang
Utilizing data from Chinese industrial enterprises and China Customs’ import and export data spanning from 2000 to 2014, this paper adopts a nationwide unified market perspective and introduces market accessibility as a novel metric for transportation infrastructure networks. It investigates the impact of transportation infrastructure networks on the quality of export products and explores the underlying micro-mechanisms. The study shows that the construction of transportation infrastructure networks significantly enhances the quality of export products. A series of robustness tests confirm that the conclusion remains valid. Mechanism tests reveal that the construction of transportation infrastructure networks promotes the upgrading of export product quality through demand-driven effects, talent mobility effects and technological innovation effects. Heterogeneity analysis indicates that the construction of transportation infrastructure networks is more conducive to enhancing the export product quality of state-owned and foreign-invested enterprises, differentiated products, technology-intensive and capital-intensive enterprises, as well as exports to OECD countries. Extended analysis demonstrates that the nationwide unified large market further intensifies the enhancing effect of transportation infrastructure network construction on the quality of export products. The research provides a theoretical framework and empirical evidence on how transportation infrastructure networks can drive international circulation through domestic circulation, thereby achieving a high level of openness to the outside world.
2024 Vol. 41 (6): 16-29 [
Abstract
] (
368
) [
HTML
1KB] [
PDF
1307KB] (
367
)
30
Urban Agglomeration Development and Urban Economic Resilience: Effects and Mechanisms
ZHAO Jiawei, LI Wenqi
Based on panel data from 282 prefecture-level cities in China from 2008 to 2022, this study uses a multi-period difference-in-differences approach to explore the impact of urban agglomeration development on urban economic resilience. There are following findings: (1) Urban agglomeration development significantly enhances urban economic resilience, a conclusion that holds after a series of robustness tests; (2) Mechanism tests indicate that urban agglomeration development improves urban economic resilience by promoting regional labor and capital agglomeration, while the positive impact of technology agglomeration is mainly reflected in more mature urban agglomerations such as the Beijing-Tianjin-Hebei and the Yangtze River Delta regions, with relatively weaker effects in other urban agglomerations; (3) Further analysis suggests that the effect of urban agglomeration development on enhancing the economic resilience of medium-sized cities and peripheral cities is more pronounced, while for large cities and central cities, which already possess strong risk resistance capabilities, the role of urban agglomeration development is limited. The study confirms the significant contribution of urban agglomeration development in promoting coordinated regional development and resisting external shocks.
2024 Vol. 41 (6): 30-44 [
Abstract
] (
364
) [
HTML
1KB] [
PDF
1413KB] (
2623
)
45
A Study on the Impact of the Western Land-Sea New Corridor on Enhancing the New Quality of Productive Forces along the Corridor
YANG Junling
This study focuses on the Western Land-Sea New Corridor and uses T-tests, dynamic panel data models and multi-period difference-in-differences approaches to systematically analyze the direct effects of the corridor on the new-quality productive forces in the regions along the corridor, as well as its intrinsic mechanisms. The study shows that the establishment of the Western Land-Sea New Corridor significantly promotes the enhancement of new-quality productive forces in the regions along the corridor, and this positive effect gradually strengthens over time, highlighting the long-term contribution of the corridor’s construction to regional economic development. Mediator effect analysis further reveals that the mediating effect of trade is significant and positive, indicating that the corridor effectively promotes the enhancement of new-quality productive forces in the regions along the corridor by facilitating and prospering trade both within and outside the region. The mediating effect of foreign direct investment is relatively weak, suggesting that regions along the corridor still face challenges in attracting high-quality foreign capital. It is noteworthy that although the establishment of the corridor has led to a certain degree of improvement and enhancement in infrastructure, its indirect enhancing effect on the new-quality productive forces in the regions along the route through its intermediary role is not significant. It serves as a reminder that we need to develop more nuanced policy planning and long-term development strategies to ensure that infrastructure development can effectively support the sustained growth of regional new-quality productive forces.
2024 Vol. 41 (6): 45-57 [
Abstract
] (
443
) [
HTML
1KB] [
PDF
1303KB] (
420
)
58
The Influence of Rural Basic Pension Insurance on the Migration Decisions of Rural Migrant Workers: An Analysis Based on Labor Time and Safety Factors
CONG Shengmei, LUO Biliang
The study utilizes data from the China Labor-force Dynamics Survey (CLDS) in 2016 and 2018 to examine the impact of participation in the rural basic pension insurance on the return migration decisions of rural migrant workers. The are following findings: Firstly, participating in rural basic pension insurance significantly promotes the return of migrant workers. From the perspective of location, the return of migrant workers to work in counties and the return of migrant workers from outside counties to work in farming are significant. The above conclusions are also supported by using the instrumental variable method and the propensity score matching method (PSM) for estimation; Secondly, analyses based on the “ wage-leisure ” model and Maslow’s Hierarchy of needs theory show that demands for working hours and work safety are important mechanisms for rural basic pension insurance to affect the return of migrant workers; Thirdly, heterogeneity analysis indicates that family income level is an important moderating factor in the rural basic pension insurance’s promotion of the return migration of rural migrant workers; Fourthly, further analysis demonstrates that the judgment regarding the “ non-portability ” of rural basic pension insurance as an intermediate mechanism for promoting the return migration of insured migrant workers lacks theoretical and empirical support. This study provides empirical evidence and policy implications for alleviating the return of rural migrant workers triggered by rural basic pension insurance.
2024 Vol. 41 (6): 58-70 [
Abstract
] (
313
) [
HTML
1KB] [
PDF
1325KB] (
597
)
71
A Study on the Impact of Agricultural Industry Agglomeration on Agricultural Industry Resilience: From the Dual Perspectives of Horizontal Agglomeration and Vertical Agglomeration
WANG Shanshan, XU Yuxuan, WANG Lulu, LYV Jie
Based on analyzing the mechanism of the impact of agricultural industry agglomeration on agricultural industry resilience, and based on panel data from 30 provinces in China (excluding Xizang, Hong Kong, Macao and Taiwan) from 2011 to 2021, the paper uses entropy method to measure the resilience of agricultural industry and the degree of agricultural industry agglomeration from both horizontal and vertical perspectives. Using two-way fixed effect model and spatial Dobin model, the paper studies the direct impact of agricultural industry agglomeration on agricultural industry resilience and spatial spillover effect. The results indicate that the resilience of China’s agricultural sector shows a trend of annual improvement, with horizontal agglomeration in the agricultural industry slightly strengthening, vertical agglomeration significantly enhancing and albeit with considerable inter-provincial disparities. Both horizontal and vertical agglomeration in the agricultural industry significantly promote the improvement of agricultural industry resilience, and both exhibit positive spatial spillover effects, not only impacting local agricultural industry resilience but also enhancing the resilience of the surrounding regions’ agricultural industries. Heterogeneous analysis results show that agricultural industry clusters in major grain-producing areas have a positive effect on improving agricultural industry resilience, while agricultural industry clusters in non-major grain-producing areas have no significant effect on improving agricultural industry resilience. The policy implications derived from the aforementioned findings are as follows: There should be a clear delineation of the layout for agricultural industry agglomeration and the establishment of demonstration zones to showcase such agglomerations. The brand recognition of agricultural products should be enhanced to bolster the construction of agricultural product brands. Additionally, the development of the agricultural product processing industry and the cultivation of leading enterprises are essential to leverage the significant role of agricultural industry agglomeration in enhancing the resilience of the agricultural sector.
2024 Vol. 41 (6): 71-82 [
Abstract
] (
518
) [
HTML
1KB] [
PDF
1736KB] (
827
)
83
Financing Sources and Green Transformation of Enterprises
HU Quying, ZHAO Lijuan
This paper takes listed companies in heavily polluting industries from 2016 to 2021 as the research object, divides the sources of funds into debt financing and equity financing and measures the green transformation of enterprises using green innovation capability and green governance performance, respectively. It studies the heterogeneous impact of financing sources on the green transformation of enterprises.The are following findings: (1) Debt financing can promote the green transformation of enterprises because the binding nature of debt can inhibit inefficient investment and on-the-job consumption of enterprises and thereby promote the green transformation of enterprises; (2) At present, the reason why equity financing does not promote the green transformation of enterprises is that the equity financing for green transformation projects will disperse the control rights of the original shareholders, exacerbate the agency problem between management and owners and restrict the advantages of equity financing; (3) Agency costs play an intermediary role in the impact of different financing sources on the green transformation of enterprises. That is, debt financing promotes enterprises to achieve green transformation faster by reducing principal-agent costs, and equity financing is not conducive to the green transformation of enterprises by increasing agency costs. The conclusion provides a valuable supplement to the economic consequences of financing sources and the influencing factors of green transformation, offering insights for the practice of corporate green sustainable development and the selection of funding sources.
2024 Vol. 41 (6): 83-94 [
Abstract
] (
279
) [
HTML
1KB] [
PDF
1271KB] (
457
)
95
Whether Corporate Digital Transformation Can Increase Labor Income Share: Empirical Evidence Based on Corporate Financialization
ZHOU Lei, WANG Yuhang, GONG Zhimin
Based on the micro-data of Chinese A-share listed companies from 2011 to 2021, this paper examines the impact of enterprise digital transformation on the share of labor income. The results reveal that corporate digital transformation has a significantly positive effect on the labor income share. It can suppress corporate financialization, promote the development and structural upgrading of main business operations, thereby expanding labor demand and enhancing wage bargaining power through mechanisms that increase the labor income share. From the perspective of the economic environment in which enterprises operate, the enhancing effect of corporate digital transformation on the labor income share is more pronounced during economic downturns and in regions with higher levels of human capital. When examining corporate micro-characteristics, the positive effect of corporate digital transformation on labor income share is more prominent in high-tech enterprises, enterprises with non-financial backgrounds among senior executives and enterprises with precautionary financialization practices. Further research finds that the policies for the construction of “ Broadband China ” and the National Big Data Comprehensive Experimental Zone can accelerate the digital transformation of enterprises and produce policy synergy effects on the impact on the share of labor income. The results clarify the impact mechanism of enterprise digital transformation to increase the share of labor income, and provide new ideas for optimizing my country’s factor income distribution structure.
2024 Vol. 41 (6): 95-106 [
Abstract
] (
394
) [
HTML
1KB] [
PDF
1268KB] (
508
)
107
A Study on the Impact of Communist Party Organization Embedding on the Performance of State-owned Enterprises: From the Perspective of Executive Excessive Power Restrictions and Inefficient Investment Suppression
JIN Linlin, REN Guangqian, JING Man, WANG Jing
From the perspective of grassroots party organization construction in state-owned enterprises, taking China’s Shanghai and Shenzhen A-share listed state-owned enterprises from 2013 to 2022 as research samples, this paper examines the impact of party organization embedding on the performance of state-owned enterprises and the mediating role of executive excess power restrictions and inefficient investment suppression. The results show that the embedding of party organizations in the governance structure can significantly improve the performance of state-owned enterprises, and the improvement effect on the performance of state-owned enterprises is different among the board of directors, the board of supervisors and the Executive level. Embedding party organizations into the board of directors has the greatest effect on improving the performance of state-owned enterprises, followed by the executive board, and finally the board of supervisors. Mechanism analysis indicates that party organization embedding improves the performance of state-owned enterprises by restricting executive excessive power and curbing inefficient investment behavior. Heterogeneous analysis manifests that compared with central enterprises, monopolistic state-owned enterprises and state-owned enterprises with good internal control quality, party organization embedding has a more significant effect on improving the performance of local state-owned enterprises, competitive state-owned enterprises and state-owned enterprises with poor internal control quality. The conclusions not only help us deeply understand the economic consequences of party organizations’ participation in state-owned enterprise governance, but also provide new ideas for the government to continue to improve the modern enterprise system with China characteristics.
2024 Vol. 41 (6): 107-120 [
Abstract
] (
412
) [
HTML
1KB] [
PDF
1307KB] (
365
)
121
Has Smart City Construction Improved Urban Financial Resilience?
LIN Chun, ZHANG Xin, SUN Yingjie
Taking the construction of smart cities as the starting point, the paper attempts to explore the impact of smart city construction on my country’s urban financial resilience. The results indicate that the construction of smart cities can significantly enhance urban financial resilience, and this conclusion remains robust after a series of sensitivity tests. Mechanism tests reveal that the construction of smart cities can promote the enhancement of urban financial resilience by fostering the development of digital finance, alleviating corporate financing constraints and curbing corporate financialization. Heterogeneity analysis shows that the role of smart city construction in promoting urban financial resilience is related to the administrative level, geographical location, urban size and financial activity level of the city. Among the urban groups with higher administrative levels, poor location advantages, smaller scale and low financial activity, the construction of smart cities has a more obvious effect on promoting urban financial resilience. The conclusion provides empirical evidence for strengthening financial resilience through urban governance model reforms in China, and also offers theoretical support and policy references for high-quality financial development.
2024 Vol. 41 (6): 121-135 [
Abstract
] (
310
) [
HTML
1KB] [
PDF
1964KB] (
501
)
136
Can Supply Chain Finance Increase Firms’ Labor Income Share?
BU Jun, SUN Guangguo
Utilizing the data of A-share listed companies on the Shanghai and Shenzhen stock exchanges from 2007 to 2021, the paper investigates the relationship and intrinsic mechanisms between corporate engagement in supply chain finance and the labor income share. The findings reveal that participation in supply chain finance by enterprises significantly enhances the labor income share. This conclusion is substantiated by a battery of robustness checks, which confirm the stability and reliability of the results. The results of the mechanism test indicate that alleviating financial constraints and upgrading the structure of human capital are the primary channels through which supply chain finance enhances the labor income share. Furthermore, the effect of upgrading the structure of human capital is manifested in the increased demand for high-skilled labor and the displacement of low-skilled labor. Further research demonstrates that for enterprises with higher supply chain concentration, lower labor adjustment costs, stronger market power, and labor-intensive characteristics, the enhancement of the labor income share through participation in supply chain finance is more pronounced. This paper not only broadens the research horizon on the determinants of labor income share but also provides empirical evidence for the specific pathways through which supply chain finance empowers micro-enterprises to achieve high-quality development from the perspective of factor income distribution.
2024 Vol. 41 (6): 136-149 [
Abstract
] (
364
) [
HTML
1KB] [
PDF
1624KB] (
506
)
150
Analysis of the 20-Year Development of
Economic Survey
: Also on How Local Universities Can Run Professional Journals Well
LI Xiaojian, WANG Huaimin, ZHAO Yanfeng, LOU Fan
Economic Survey
is a professional journal in the filed of economic management sponsored by Henan University of Finance and Economics and Law. For nearly 20 years, it has been a
Chinese Social Sciences Citation Index
(CSSCI) Source Journal, with its impact factor continuously increasing. From 2023 to 2024, it ranks in the upper-middle tier among the core journals listed in the index. Over the past 20 years, the journal has consistently focused on the significant strategic demands of the nation, concentrating on the underlying logical research behind these demands. It primarily targets the study of economic development issues in China’s underdeveloped regions, highlighting two distinctive columns on regional economy and agricultural, rural and farmer issues. The journal has established a thematic structure of papers with high-frequency keywords such as “Economic Growth”, “Financial Development”, “Technological Innovation and Progress”, “Industrial Structure” and “Regional Economy and Regional Disparities”. Additionally, it has also recently focused on areas such as “Digital Economy”, “Environmental Issues”, “Regional Coordination” and “Rural Revitalization”. The 20-year highly cited papers highlight topics such as green finance, green technology and corporate governance related to new development concepts and scientific development concepts. To meet the developing needs of the journal, the editorial department focuses on the professionalization of the editorial team, the diversification of the authors and the accuracy of peer reviewers, strictly manages the manuscript process and strengthens digital communication. The future development of the journal will expand manuscript sources through multiple channels, optimize external review teams and explore artificial intelligence manuscript systems.
2024 Vol. 41 (6): 150-160 [
Abstract
] (
295
) [
HTML
1KB] [
PDF
4279KB] (
599
)
经济经纬
News
·
·
《经济经纬》编辑部声明
·
·
·
·
·
·
·
·
·
More
Article Search
Adv Search
Copyright © 《Chemical Research and Application》Editorial
Support by
Beijing Magtech Co.ltd
support@magtech.com.cn
