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Economic Survey
2025 Vol.42 Issue.3
Published 2025-05-10
3
Study on the Synergistic Effects of Virtual and Geographic Dual Agglomeration in Promoting the Spatial Functional Division of Labor in Urban Agglomerations
WANG Yuanyu
From the research perspective of precise matching between the agglomeration form of industrial chain links and the comparative advantages of cities, this paper proposes a theoretical hypothesis that the dual agglomeration of virtual and geographical factors in urban agglomerations improves the functional specialization of individual cities and the overall spatial functional division of labor and coordination. A regression analysis and test were conducted using data from urban agglomerations in China from 2003 to 2021. The characteristic facts show that the functional differentiation trend between central cities and surrounding cities within urban agglomerations is obvious and closely related to the relative changes in spatial agglomeration forms. Urban agglomerations can be divided into four types, division optimization, service isomorphism, production isomorphism and division lag. Some urban agglomerations still require improvement in their collaborative level of spatial functional division of labor. Regression results indicate that cities with relatively high levels of virtual agglomeration within urban agglomerations exhibit higher levels of specialization in service functions, while cities with relatively high levels of geographical agglomeration demonstrate higher levels of specialization in production functions. Dual virtual and geographical agglomeration within urban agglomerations not only directly optimizes their spatial functional division of labor but also significantly enhances it and its coordination through mechanisms such as improving the level of factor sharing, enhancing resource allocation efficiency and boosting knowledge spillover effects. The research conclusions provide theoretical guidance and practical reference for accelerating the coordinated development of internal functions of urban agglomerations in my country.
2025 Vol. 42 (3): 3-16 [
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Assessment of the Environmental Effects of Three Agricultural Subsidy Reforms: Taking Fertilizer Reduction as an Example
WEI Zuda, ZHANG Lu
Using provincial panel data from 2007 to 2022, a double-difference model is constructed to assess the environmental effects of three agricultural subsidy reforms, with chemical fertilizer reductions serving as an example. The results show that the three agricultural subsidy reforms can significantly reduce chemical fertilizer use. On average, the reforms reduce chemical fertilizer use in the treatment group by 5.1%. After multiple robustness tests, the results remain credible. Heterogeneous analysis indicates that the three agricultural subsidy reforms more effectively reduce the usage of nitrogen, phosphorus and potassium fertilizers than compound fertilizer usage, while it has a smaller impact on compound fertilizer usage. Additionally, the environmental effects of these reforms are more pronounced in non-major grain production areas and in regions with low fertilizer usage percentiles. Mechanism analysis demonstrates that the three agricultural subsidy reforms primarily achieve fertilizer reduction by expanding farm scale, increasing the proportion of grain cultivation and improving farmland quality. The research findings offer valuable insights for enhancing agricultural support and protection subsidy policies, and for better leveraging the effectiveness of subsidies for scaled farming operations and farmland fertility protection.
2025 Vol. 42 (3): 17-28 [
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Digital Transformation, Household Labor Allocation and Rural Household Income Enhancement
CHEN Yongwei, CHEN Zhiyuan, XIANG Shujian, FANG Shile
Based on the facts of China’s dual urban-rural economy, this paper constructs a two-sector production model empowered by digital technology. The model theoretically reveals that digital transformation can reduce both the economic and psychological costs of rural labor mobility, thereby promoting the reallocation of labor from rural households to the non-agricultural sector and driving income increases. Secondly, using an index-based method to comprehensively measure the level of digital transformation across regions in China, the findings show that an increase in the degree of digitalization significantly promotes the growth of per capita income in rural households. Furthermore, this income growth effect is more pronounced for households with higher levels of social capital. The results of the mechanism analysis further indicate that allocating labor to sectors such as transportation, storage, postal services, wholesale and retail is more conducive to income growth. Moreover, the income-increasing effect of employment within the same province is more significant than that of employment across regions. Based on the above conclusions, the paper proposes policy recommendations, including deepening the development of the digital economy, actively expanding employment opportunities for the transfer of rural labor and effectively protecting the legal rights and interests of rural labor working in urban areas.
2025 Vol. 42 (3): 29-42 [
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Study on the Signal Effects and Mechanism of Rural Income Inequality in Chinese
WANG Xiaoye, WANG Wenbo, ZHANG Weili
Based on data from two waves of the Chinese General Social Survey (CGSS), this paper uses an ordered logistic model and mechanism test model to analyze how social mobility and education levels influence the signaling effect on rural income inequality. The results show that the signaling effect of income inequality in rural China is weak or hindered. This is manifested by rural residents not raising their expectations for future income improvement when they observe others’ income increasing. However, educational level can stimulate rural residents’ expectations of higher income and, to some extent, alleviate the negative impact of income inequality on happiness. The results indicate that the signaling effect of income inequality in rural China is weak or hindered. This is manifested by rural residents not raising their expectations for future income improvement when they observe others’ income increasing. However, educational level can stimulate rural residents’ expectations of higher income and, to some extent, alleviate the negative impact of income inequality on happiness. Further research reveals that the signaling effect of rural income inequality needs to be jointly driven by social mobility and educational level. However, social mobility not supported by educational attainment can hinder the signaling effect. Therefore, vigorously promoting rural educational revitalization and improving rural residents’ educational level are key steps to boosting their intrinsic motivation for income increase. These steps are of great importance for promoting the economic and social development of rural areas and enhancing the happiness of rural residents.
2025 Vol. 42 (3): 43-57 [
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The Impact of Host Countries’ Digital Infrastructure on OFDI of China’s High-Tech Manufacturing Industry: An Empirical Study of 55 Countries along the “Belt and Road”
XU Xiangyu, LIN Shanlang
Taking countries along the “Belt and Road Initiative” as samples, the paper examines the mechanism and effect of digital infrastructure development in countries along the route to promote investment in China’s high-tech manufacturing industry, and analyzes its heterogeneity at the country, industry and investment model levels. The findings are as follows: (1) The development of digital infrastructure in the countries along the “Belt and Road” promotes investment from China’s high-tech manufacturing sector, and the investment-promoting effect of the host countries’ “digital locational advantage” is significant. (2) The digital infrastructure of host countries positively promotes FDI of China’s high-tech manufacturing by enhancing their technological innovation capacity, investment efficiency and investment convenience. (3) In terms of heterogeneity, digital infrastructure promotes foreign capital more in countries with higher economic levels, in “conventional” high-tech industries such as pharmaceuticals or in “cross-border mergers and acquisitions”. Conversely, its role is weaker in countries with lower economic levels, in “naturally digital” industries like computers, communications, and electronics, or in “greenfield investments”. The above conclusions can provide reference for optimizing foreign investment in high-tech manufacturing and high-quality joint construction of the “Belt and Road”.
2025 Vol. 42 (3): 58-71 [
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How Does Manufacturing Digitization Affect Global Value Chain Upgrading?
ZHANG Yanping, LING Dan, LIU Huiling
Based on cross-country panel data from 66 countries and 17 manufacturing industries worldwide, this paper establishes a mathematical model from the perspective of digitalization of intermediate inputs to examine the impact of manufacturing digitalization on global value chain upgrading. Research findings indicate that manufacturing digitalization has a significant positive impact on its global value chain position, and this conclusion remains valid after a series of robustness checks. Mechanism analysis shows that the supply-side cost effect, specialization effect, and human capital effect, as well as the home market scale effect on the demand side, all play important roles in the impact of digitalization on manufacturing GVC upgrading. Further decomposition of the cost effect into labor and trade cost effects reveals that while they differ in their intermediary roles in GVC upgrading, both promote GVC upgrading by saving costs. Heterogeneous analysis manifests that digitalization has a more pronounced effect on improving the global value chain position of manufacturing in developing economies, in industries with high digital intensity and in high-tech manufacturing. Moreover, compared to non-core digital sectors, intermediate inputs from core digital sectors have a stronger value chain climbing effect. The conclusions provide specific reference basis for studying relevant countermeasures such as the manufacturing industry climbing to the high end of the global value chain and improving the quality of international cycles.
2025 Vol. 42 (3): 72-88 [
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Impact of the Depth of Environmental Provisions in Regional Trade Agreements on the Sophistication of Exporting Green Technologies: Evidence from Countries along the “Belt and Road Initiative”
XU Tongsheng, JIANG Yulian
Based on data on environmental provisions in regional trade agreements (RTAs) and trade data from countries along the “Belt and Road ” from 1995 to 2018, this paper constructs and measures three heterogeneous environmental provision depth indicators at the national level: total depth, core depth and enforceability, as well as export green technological sophistication. It then examines the impact of RTA environmental provision depth on export green technological complexity in these countries. The study shows that the total depth, core depth and enforceability of RTA environmental provisions all promote the increase of export green technological complexity, and enforceability has the greatest impact. Further research indicates that the depth of RTA environmental provisions enhances export green technological complexity by promoting green technological innovation and optimizing the business environment. This effect is more significant for green-oriented developing countries. Additionally, institutional quality strengthens the positive effect of environmental provision depth on the export green technological complexity of developing countries.
2025 Vol. 42 (3): 89-105 [
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Whether Artificial Intelligence Affects the Labor Share of Income: From the Perspective of Human Capital Structure Adjustment and Resource Allocation Efficiency
ZHANG Yongshen, ZHANG Meng
Unlike existing studies that use industry-level industrial robot data or city-level data to represent AI levels, this paper uses text analysis on data from Shanghai and Shenzhen A-share listed firms from 2009 to 2022 to construct a firm-level AI measure. It explores AI’s impact on corporate labor income shares and its mechanisms. The results show that AI optimizes labor factor allocation in firms, as evidenced by an increased labor income share, with a series of robustness and endogeneity checks supporting this conclusion. Mechanism tests reveal that AI boosts the proportion of highly educated and technical employees while reducing the proportion of low-educated and production department employees and promoting human capital structure adjustment. Additionally, AI enhances firms’ investment efficiency and lowers management expense ratios, optimizing resource allocation efficiency. Further analysis indicates that AI’s role in increasing the labor income share is more pronounced in non-state-owned firms, technology-intensive industries and firms with stronger market competitiveness. The research conclusions have certain policy implications for promoting the practice of artificial intelligence in China and helping enterprises develop high-quality.
2025 Vol. 42 (3): 106-119 [
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Does Executive Information Technology Background Curb Corporate Violations?
WANG Shengnian, ZHANG Nan
Using data from A-share listed companies from 2007 to 2023, the paper examines the impact of executive information technology background on corporate violations. Research shows that executive information technology backgrounds inhibit corporate violations. The mechanism analysis indicates that executives’ IT backgrounds inhibit corporate violations by improving corporate governance and alleviating information asymmetry. Heterogeneous analysis reveals that this effect is more pronounced when management shareholding is low, analyst attention is limited, or the legal environment is weak. Further research manifests that in terms of the source of executives’ IT background, the empirical imprint of executives’ IT background has a more significant impact on corporate violations. Additionally, in terms of executive types, the IT background of management and directors has a more significant impact on corporate violations. Moreover, in terms of violation severity, the IT background of executives has a more significant impact on information disclosure violations and business operations violations. This study adds to the literature on the relationship between executive characteristics and corporate violations. It also highlights how firms can benefit from recruiting executives with IT backgrounds to leverage their role in preventing governance violations.
2025 Vol. 42 (3): 120-132 [
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How Does Digital Transformation Affect Corporate “Green-washing” Behavior?
CHEN Hui, FENG Chao, ZHANG Xufan
Based on the data of A-share listed companies from 2016 to 2023, the paper uses information asymmetry theory and resource-based theory as the theoretical basis to explore the mechanism and boundary condition of digital transformation on corporate “ Green-washing ”. The results show that corporate digital transformation significantly reduces the extent of “ Green-washing ”. This conclusion remains robust even after conducting multiple robustness tests and addressing endogeneity issues. The test results of the mechanism indicate that the digital transformation of enterprises can inhibit enterprises from “ Greening-washing ” by easing financing constraints and promoting green innovation. The moderating analysis results reveal that the three different dimensions of institutional pressures have differential moderating effects on the negative relationship between corporate digital transformation and “ Green-washing ”. The research conclusions help to expand the theoretical research on corporate green-washing behavior and provide empirical evidence and policy implications for preventing corporate green-washing, with both theoretical and practical significance.
2025 Vol. 42 (3): 133-146 [
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Whether Intelligent Manufacturing Can Enhance Corporate Environmental Performance: A Quasi-Experimental Study Based on the Intelligent Manufacturing Pilot Policy
WAN Zhu
Based on sample data from listed manufacturing companies, the paper uses the Intelligent Manufacturing Pilot Demonstration Policy (IMDP) as a natural experiment and uses the Double Difference Method (DID) to explore the impact of intelligent manufacturing on corporate environmental performance. The study shows that intelligent manufacturing significantly enhances corporate environmental performance. The conclusion remains valid after a series of robustness and endogeneity tests. Mechanism analysis indicates that intelligent manufacturing enhances corporate environmental performance by optimizing human capital structure, increasing environmental protection investments and promoting green technological innovation. Heterogeneous analysis reveals that the environmental benefits of intelligent manufacturing are more pronounced in non-state-owned enterprises, firms with high capital market attention and large-scale companies. The study theoretically explains the intrinsic link between intelligent transformation and corporate environmental performance, enriches research on intelligent manufacturing policies, and provides valuable insights for promoting the deep integration of intelligent and green manufacturing.
2025 Vol. 42 (3): 147-160 [
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