Economic Analysis and Policy

1970 - 2025

Current editor(s): Clevo Wilson

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Volume 87, issue C, 2025

Market-based emissions regulation and capacity governance in China’s high-carbon firms: Theoretical investigation and empirical evidence pp. 1-17

Xu Wang, Yingjie Liu, Wei Li, Lingyun He, Cheng Chi and Yanni Zhong

The impact of green finance policies on supply chain resilience pp. 18-37

Lei Ruan, Liwen Yang and Dongningmei Li

Curbing brain drain: Incentive programs and economic fundamentals in shaping college students’ job location decisions pp. 38-56

Mengqiao Liu, Ruixin Jia and Yu Yvette Zhang

How does green supply chain management influence corporate total factor productivity——Evidence from a quasi-natural experiment pp. 57-82

Ying Liu, William Mbanyele, Fengrong Wang, Linbo Zhang and Hongyun Huang

National innovation capacity and the drivers of energy efficiency R&D in the OECD pp. 83-98

Ashraf Galal Eid, Fateh Belaïd and Akrem Temimi

The impact of digital government on cross-regional investment: Evidence from Chinese cities pp. 99-122

Xian Zheng, Xinyi Du and Weihao Wu

Rethinking the literature on economic complexity indexes pp. 123-145

Jorge Valverde-Carbonell

Empowering corporate growth: How digital government enhances investment stability pp. 146-161

Meiying Huang, Pengfei Cheng and Yimeng Yuan

An extended view on inequality and redistribution in the European Union — The role of indirect taxation and in-kind benefits pp. 162-177

Michael Christl, Silvia De Poli and Köppl–Turyna, Monika

Oil price shocks and green bond spreads: Evidence from China pp. 178-190

Jingxin Li, Qiujun Lan, Xiangjin Wang and Linnan Ge

Industrial Robots application and corporate competitiveness: Evidence from China's A-share market pp. 191-204

Yongtao Shen, Yi Bai and Fan Zhang

Cultural norms and corporate green transition disclosure: Unveiling the role of green innovation, social responsibility, and managerial myopia pp. 205-220

Feng Zhao, Yanshun Huang and Yanting Zheng

The effects of rural e-commerce on income inequality: evidence from the National Rural E-Commerce Comprehensive Demonstration policy in China pp. 221-234

Yanyuan Zhang, Xintong Wu and Rong Cai

Does common institutional ownership affect systemic risk of non-financial firms? Evidence from China pp. 235-255

Xiao-Lin Li, Jiawei Hao and Liang Liu

Do firm and lender characteristics matter in monetary policy transmission? Evidence from Korean loan-level data pp. 256-268

Hyunjoon Lim

The effects of sectoral productivity shocks on sectoral output growth in OECD countries: A new decomposition pp. 269-280

William Connell, Viet-Ngu Hoang, Clevo Wilson and Xuan-Hoa Nghiem

The blur phraseology in ESG reports and firm value: textual analysis evidence from Chinese listed companies pp. 281-296

Yan Zhang, Xiang Li, Qiyu Huang and Xiangning Mu

Is Green innovation the “Golden Ticket” in achieving energy security and sustainable development? pp. 297-314

Kai-Hua Wang, Shu-Mei Li, Oana-Ramona Lobonţ and Nicoleta-Claudia Moldovan

Energy prices, energy poverty and health: Evidence from a US cohort study pp. 315-332

Alyvia McTague and Elisa Trujillo-Baute

R&D expenditure adjustments and firm’s patent-based efficiency: Evidence from China pp. 333-350

Xue Mei Zhou and Bin Liu

Another look at the holiday effect: evidence from sell-side analysts’ forecasts pp. 351-382

Zheng Liu, Yingfei Liu, Qiankun Gu and Huiqiang Wang

The impact of digitalization progress on carbon abatement costs: Cheaper or more expensive? pp. 383-400

Lan Xu, Jixin Cheng and Dongbin Hu

Bank fintech and corporate green transformation quality improvement: based on greenwashing governance perspective pp. 401-423

Shuitu Qian, Zhenyu Yang and Xia Fang

The impact of environmental governance policies on enterprises emissions pp. 424-445

Jia Wei, Jiahe Chen, Sijun Zhang, Hua-Tang Yin and Xin Zhang

The implementation of China’s poverty alleviation policies has enhanced the diversity of the industrial structure pp. 446-462

Jingtong Liu, Dingyang Zhou and Guanghui Jiang

Exploring the impact of energy saving and emission reduction fiscal policy on renewable energy development: Evidence from China pp. 463-483

Weiliang Tao, Kumar Mangla Sachin, Shimei Weng, Xiangzheng Deng, Xue-Li Chen and Malin Song

How can artificial intelligence technology applications accelerate energy innovation in China? Evidence from provincial regional data pp. 484-502

Qing Zhu, Jianhua Che, Shan Liu, Liangzheng Wu, Jigang Zhang and Yuze Li

The impact of low-carbon city pilot policy on employment in China pp. 503-516

Li Hou and Baodan Xing

Effect of the Housing Provident Fund on urban housing prices in China: A dual perspective of spatial heterogeneity and nonlinear linkages pp. 517-532

Hongyan Chen, Qingfang Liu, Longfei Zheng and Xuebo Zhang

Does digitalization of government activities improve business environment? The influence of public service standardization pp. 533-560

Xilu Chen, Erqi Ge, Xianxiang Xu and Quan Zhou

Digital currency adoption and macroeconomic stability: A quasi-natural experiment pp. 561-568

Wenxue Li and Fei Liu

Fiscal pro-cyclicality revisited: Global, regional, and country-level evidence with a spotlight on MENA pp. 569-584

Željko Bogetić and Dominik Naeher

The impact of new energy pilot city policies on urban green innovation: Evidence from China’s city level pp. 585-604

Dan Ma, Yanjin Zhu and Chien-Chiang Lee

Economic policy uncertainty and renewable energy investment: An empirical study from renewable energy firms in China pp. 605-620

Lan Gao, Jing Wang and Xianfeng Hu

Market concentration construction and high - quality development of enterprises: Empirical evidence from Chinese A - share listed companies pp. 621-641

Dongya Ji, Qin Zhang, Siming Yu and Kang Wan

AI-driven income inequality and preferences for redistribution pp. 642-648

Stepan Vesely and Gloria Amaris

Welfare public service expenditure, financing platform debt, and economic growth: Evidence from China pp. 649-664

Shijia Ren, Ping Zhou, Baijun Wu and Pengcheng Wang

Energy use rights trading policy and energy consumption? pp. 665-674

Lina Zhang

How do climate risks intersect with the rise of new energy vehicles in China? pp. 675-688

Lianhong Qiu, Xiaoqing Wong, Teng Zhang and Yubing Song

The role of EU structural and investment funds in the green transition: A stochastic ray frontier analysis pp. 689-709

Simona Bigerna, D’Errico, Maria Chiara and Paolo Polinori

How trade effect of foreign aid evolves: Evidence from the United States pp. 710-727

Zesheng Sun, Jiahua Zhao and Hao Chen

Impact of land transfer on rural energy consumption: Evidence from China family panel studies data pp. 728-745

Qingyuan Shen and Kang Luo

The digital world that trade created: Evidence from the information technology agreement pp. 746-763

Shuzhong Ma, Yuting Shen and Chao Fang

Business Environment and Bond Credit Ratings: Evidence from China’s Bond Market pp. 764-789

Chuntao Li and Yige Xie

Rowing or crowding? The nonlinear effects of State-owned capital participation on ESG performance in private enterprises pp. 790-810

Zhe Chen, Zhuocheng Lu and Kaicheng Liao

Boom from green: The potential policy effects of China’s national forest city construction on tourism pp. 811-830

Bingqian Tu, Ru Yan and Jingqi Dang

Interconnectedness and determinants of sectoral stock markets in China: Insights from higher-order moment contagion analysis pp. 831-859

Yang Gao, Jiawen Cao, Wandi Zhao and Mengwan Zhang

Green bond issuance and corporate tax aggressiveness pp. 860-873

Lilong Liu, Hanjing Zhu and Wen Liang

Digital transformation and firm business diversification: An inverse U-shaped relationship pp. 874-892

Xinmei Wu, Xinhong Wu, Duo Shang and Libo Fan

Will Sino–U.S. trade friction affect the resilience of the global backbone industry network? pp. 893-908

Kexin Xing and Yuan Yuan

Which macroprudential policy instruments is more effective? From the perspective of China's economic model pp. 909-925

Ruihong He, Yingce Yang, Junjie Guo and Xiang Deng

How artificial intelligence applications enhance enterprise green total factor productivity? A perspective on human-machine matching and labor skill structure pp. 926-947

Kunyu Yang and Jinsong Kuang

Minimum wage, foreign firm exit and export: Heterogeneity in investment motivation pp. 948-970

Bing Lu, Xu Yang and Xinding Yu

Mapping risk transmission in China's energy industry chain: Insights derived from the industry chain structure pp. 971-996

Ling Chen, Lingyun He, Rongyan Liu and Yating Fu

Do local banks alleviate ownership discrimination? Evidence from China pp. 997-1013

Ceng Zeng, Meng Guo and Xiaoyang Zhao

The impact of pilot Low-carbon city policies on urban energy ecological efficiency pp. 1014-1031

Dong Lu, Zeng Wenling and He Aiping

Chinese loans to Africa: A blessing or a curse to Africa’s economic development? pp. 1032-1044

Isaac Appiah-Otoo, Xudong Chen, Ebenezer Appiah and Daniel Kwabla Ayenyebo

Does the carbon emissions trading scheme promote green technology innovation? New evidence from Chinese cities pp. 1045-1057

Hongwei Liu, Qiaoqiao Chen and Yanwu Song

The influence of supply chain digitalization on enterprise ESG performance: A quasi-natural experiment based on pilot policies for supply chain innovation and application pp. 1058-1072

Bin Xu, Qin Guo and Lingming Chen

Olympic Games and democracy pp. 1073-1091

Leo M Doerr, Elias B Leppert and Wolfgang Maennig

The impact of fiscal incentives and regulatory constraints on China’s Green bond rating evaluations: An evolutionary game analysis and empirical study pp. 1092-1112

Hanyi Zhao, Shusong Ba, Xuefeng Zhao and Xiangyun Zhou

The outgoing audit of natural resources assets and green governance: New evidence from causal inference based on double machine learning pp. 1113-1129

Xinyu Zhang, Yixuan Liu, Jiawei Zhu, Yifei Teng, Zedong Chen, Jiansheng You and Xiaohui Wang

Are digital payments driven by wealth inequality? Evidence from analysis of the unified payments interface (UPI) adoption in India pp. 1130-1141

Rajesh Gupta, Arjun Anand and Tanya Gupta

Foreign shareholders and the green internationalization strategy of enterprises: A response to the governance supervision and "locust invasion" perspectives pp. 1142-1158

Delin Meng, Yanxi Li and Lan Wang

Nexus between energy security and role of women in politics: Evidence from BRICS countries pp. 1159-1178

Shabir Mohsin Hashmi, Hooi Hooi Lean, Manqi Zhao and Qasim Raza Syed

Impact of national industrial transfer demonstration zones policy on high-quality economic development in China pp. 1179-1197

Xiaoqi Zhang and Yu He

Digital financial innovation, productivity and modernization of industry chain and supply chain pp. 1198-1211

Yuchen Zhang, Ying Chen and Fan Ye

Tax enforcement and corporate overinvestment: Evidence from China’s STB-LTB merger pp. 1212-1231

Yan Zhang and Fang Wu

Does regional coordinated development enhance urban resilience? Evidence from China's Beijing-Tianjin-Hebei region pp. 1232-1261

Minghai Lin and Bo Peng

Dynamic relationship between stock markets and renewable energy development: Evidence from cross-country data pp. 1262-1274

Yi-Lang Luo, Wen-Bo Li and Xuesheng Chen

Shadow economy or economic driver? The impact of counterfeiting on Italy's growth pp. 1275-1291

Elton Beqiraj, Silvia Fedeli and Luisa Giuriato

Skyscrapers and productivity in China pp. 1292-1322

Yuanyuan Gu, Songlin Li and Qiao Wang

Does the pilot free trade zone promote “quality improvement and quantity increase” of the city’s export trade? pp. 1323-1341

Tao Zou, Shasha Li and Yixin Dai

Toward urban agglomerations’ sustainable development: Impact of economic agglomeration on green economic efficiency pp. 1342-1360

Xiaowei Ma, Chuandong Li, Qing Li and Qingyu Sun

Risk contagion among renewable energy, fossil energy and agricultural commodity markets: Insights from dynamic networks pp. 1361-1378

Yujia Jin, Ailian Zhang and Bai Liu

From boardroom to policy: the role of provincial leaders' corporate experience in regional green development pp. 1379-1394

Wenjie Hao, Lulin Li, Qiwen Dai and Yanqiao Zheng

Civil recognition and urban entrepreneurship: Evidence from China pp. 1395-1414

Changyu Hu, Qicheng Zhao, Ruiyun Ma and Yugang Yin

Social credit system and the alleviation of investment–financing maturity mismatch in China pp. 1415-1435

Shuzhen Liang, Yongwei Ye and Ruifeng Zhang

Designing fiscal stabilization rules pp. 1436-1451

Hovick Shahnazarian

Capitalisation of onshore wind turbines on property prices in Sweden: The need to compensate for negative externalities pp. 1452-1468

Hans Westlund and Mats Wilhelmsson

Environmental regulations and the greenwashing of corporate ESG reports pp. 1469-1481

Chenli Fang, Zhitao Wang and Lu Zhao

Does the Inclusive Finance Index really represent the level of inclusive finance? – Evidence from P2P lending market pp. 1482-1500

Xiaojuan Hou and Ming Jin

The State as a Catalyst: How Government-Initiated Social Program Boosts Firm Performance? pp. 1501-1521

Ziqiao Wang, Wei Zhang, Jing Hao and Xiaotao Zhang

Place-based policies, financial friction, and city size: Evidence from China’s institutional opening-up pp. 1522-1556

Zhenyu Wang

The impact of public data openness on corporate supply chain efficiency: A quasi-natural experiment based on a local government data openness platform pp. 1557-1574

Wenqi Liao and Ling Zhuo

Empowering resilience of urban energy system in China: How does digital economy matter? pp. 1575-1594

Jun Zhao, Yalin Lei, Hongyun Huang and Xiaomeng Zhao

Is market integration conducive to carbon reduction? Evidence from Chinese cities pp. 1595-1611

Lang Li and Nengsheng Luo

Does tax avoidance information disclosure promote capital market pricing efficiency? Evidence from a quasi-natural experiment in China pp. 1612-1629

Zheng Wu, Moyi Cheng, Bing Wang and Yi Zhao

Major shareholders' equity pledge and the “All talk and no action” strategy in digital transformation pp. 1630-1652

Hui Zhou

The impact of energy security on energy efficiency: based on the moderating effect of government intervention pp. 1653-1669

Zeng Wenling, Dong Lu and Zhao Shouguo

Does carbon emission trading policy improve agricultural energy transition? Evidence from China pp. 1670-1689

Jing Rong, Quan Guo, Shikun Chen and Jinghui Hao

Assessing the impact of new energy demonstration city policy on industrial carbon intensity using machine learning pp. 1690-1707

Jianbao Chen, Jiamin Shen and Nan Ke

Industrial relocation or shorter shipping routes? Examining the impact of the EU’s carbon border adjustment mechanism on global emissions using structural gravity pp. 1708-1741

Aline Mortha, Toshi H. Arimura, Shiro Takeda, Bernhard R.P. Steubing and Tatyana Chesnokova

Internal and external risk spillovers in energy and metal markets: the role of economic policy uncertainties pp. 1742-1762

Xinran Li, Sheng Cheng, Ruibin Liang and Tao Tang

Does municipality size matter? The impact of introducing the electronic consumer invoice (NFC-e) pp. 1763-1781

João Paulo Oliveira Lucena and Raquel Menezes Bezerra Sampaio

Does the Fed adhere to its mandate? Estimating the Federal Reserve’s objective function pp. 1782-1796

Makram El-Shagi

Environmental regulation and outward FDI of Chinese listed companies: The role of technological innovations pp. 1797-1816

Weixiong Chen and Hanyu Hao

Does big data promote firms’ leverage ratios? Evidence from China’s national comprehensive big data pilot zones pp. 1817-1833

HuiRu Yu, Kedong Shu, Zeqiang Ni, Qing Liu and ShuaiHang Li

Tapping the potential of green finance: Can energy efficiency credit drive traditional industries to green? Evidence from China pp. 1834-1853

Guodong Chi, Yuanyuan Liu, Hong Fang and Yuanyuan Xiu

Assessing export resilience and its dimensional subdivision in China's labor-intensive manufacturing industry pp. 1854-1875

Zhihui Dai and Yue Niu

Does low-carbon policy affect residents’ life satisfaction? Evidence from China pp. 1876-1895

Cheng Zhang, Xiaohong Ling and Xiyan Weng

The US–China relations and the impact of the US–China trade war: Global value chains analyses pp. 1896-1908

Bo Meng, Yuning Gao, Tao Zhang, Jiabai Ye and Yaxiong Zhang

Labor mobility and corporate wage inequity: Evidence from the Hukou reform in China pp. 1909-1926

Ni Qin, Junwei Zeng and Qiyao Wang

Does targeted poverty alleviation foster rural entrepreneurship? evidence from china’s township-level panel data pp. 1927-1945

Xuecui Zhang, Lu Chen and Xiuyan Liu

Judicial Independence and Corporate Total Factor Productivity: Evidence from provincial court centralization pp. 1946-1961

Hao Tu, Shenggang Yang, Minyi Dong and Pengyi Dai

Environmental pollution, health depreciation and labor supply of elderly pp. 1962-1980

Wenguang Yu, Yixin Gao, Rong Sun and Yujuan Huang

Do carbon markets induce suppliers’ green innovation through backward linkages? pp. 1981-2005

Xian Pan, Lihong Yu and Chen Chen

Market-based environmental regulation and corporate ESG performance: Evidence from China pp. 2006-2022

Minjuan Chen, Honglin Chen, Siying Liu and Yanping Liu

Industrial digitalization and urban-rural income gap: An empirical analysis based on data from 30 provinces in China pp. 2023-2042

Yi Wang, Xinyao Wang, Huijie Zhou, Xiaohan Chen and Xiaoyan Mao

Can E-commerce alleviate household financial vulnerability? pp. 2043-2058

Cong Li, Yajie Zheng and Xueliang Lv

Executive compensation limits and corporate M&As: Evidence from a Quasi-natural experiment pp. 2059-2082

Yuqiang Cao, Yongfeng Yang, Qijian Wang and Huitao Luo

Study on the factors and paths of optimizing and upgrading the regional industrial structure: A hybrid analysis based on extended NCA and fsQCA pp. 2083-2102

Wenwan Wei and Sini Yang

Can green trade promotion lessen energy poverty in Sub-Saharan Africa? The role of macroeconomic performance index pp. 2103-2125

Shaohua Yang, Elias Gakuru and Yuting Wang

Supply chain diffusion effect and digital transformation of small and medium-sized suppliers pp. 2126-2145

Xueyan Xie and Tianqing Wang

Dynamic interaction between public trust and central bank communication pp. 2146-2163

Jing Zhang, Yinglin Cui and Yingdan Jin

Is too much green investment a good thing for corporate sustainable development performance? pp. 2164-2182

Aiping Zhu and Qing Chen

The relationship between health expenditure, income, and environmental degradation: Evidence from OECD economies pp. 2183-2201

Agata Szymańska

Green finance and economic growth: Evidence from China's natural resource markets pp. 2202-2222

Shipan Sun, Yun Guo, Caiying Tian, Xia Xu and Abdul Ghaffar

The impacts of household splitting on migrants' subjective well-being: Evidence from China pp. 2223-2238

Tianshu Jiang and Rui Qi

Artificial intelligence and firm green innovation: empirical evidence from the application of robots in China pp. 2239-2253

Mengjie Li, Nini Yuan and Weijian Du

Can environmental regulation synergy inhibit the differentiation of the Porter effect in carbon markets? pp. 2254-2278

Zhihao Zhang and Zhi Gao

Global geopolitical risk and stock price informativeness pp. 2279-2297

Fujun Lai, Fuxiang Wang, Yunzhong Li and Wai Yan Shum

The impact of the Belt and Road Initiative on China's New Industrialization: An empirical analysis based on a difference-in-differences model pp. 2298-2310

Fang Wei, Siyao Yan, Yanrong Zeng, Qi Yang and Yang Wang

An inter-provincial spontaneous cooperation mechanism design for renewable energy electricity consumption under the weight of consumption responsibility policy pp. 2311-2329

Laijun Zhao, Juntao Zhen, Chenchen Wang, Youfeng Cheng, Hongru Yi, Ke Wang, Lijun Zeng and Jian Xue

ESG global trends: A comparative analysis of China and the international community pp. 2330-2345

Meng Qi and Wenjing Fang

Defense spending and asset prices: The role of cointegration and high-dimensional macroeconomic data pp. 2346-2359

Wisdom Takumah and Nacasius Ujah

Impact of unconventional monetary policy on stock market in selected economies during and post-COVID-19 pandemic pp. 2360-2381

Yaxing Li, Wee-Yeap Lau and Kok-Haur Ng

Do capital investment incentives promote regional economic growth? Evidence from accelerated depreciation policy in China pp. 2382-2393

Zhen Li, Beibei Wang and Chunming Zhao

Reconciling economic growth with environmental protection: The role of optimizing energy allocation pp. 2394-2413

Laiqun Jin and Jiaye Li

The impact of non-punitive regulation on credit rating: Evidence from China pp. 2414-2436

Mingming Li, Xiaolei Fu and Haiming Liu

Institutional trust as a catalyst: Government procurement and private firms’ risk-taking in China pp. 2437-2457

Limeng Ying, Mengqi Bao and Jie Yang

Executives’ ESG cognition, external governance, and corporate green development pp. 2458-2469

Zhaoguo Zhang, Liuzhi Wang and Shengqi Zheng

Land leasing-in, farm machinery, and pesticide use: A plot-analysis for Jiangsu Province, China pp. 2470-2487

Min Su, Nico Heerink, Peter Oosterveer and Shuyi Feng

Breaking the natural resource curse: Can digital government promote natural resource efficiency?-Evidence from the National Pilot Information for the People policy pp. 2488-2507

Haonan Chen and Hao Wang

Physical climate risk and household saving behavior: Evidence from China pp. 2508-2519

Jialong Li, Jiao Li and Congrong Ouyang

Policy incentives and collaborative diffusion of urban green innovation: Based on the green credit subsidy policy pp. 2520-2533

Meiyu Liu, Hongli Duan and Huiru Cui

The impact of capital market enforcement intensity on corporate ESG performance: Evidence from China pp. 2534-2553

Jianglong Yu, Hongmei Liu, Xiaodong Lei and Ke Liu

OECD labour share trends: Factor efficiency vs. market distortions in a neoclassical framework pp. 2554-2591

Fernando Del Río and Francisco Rebelo

Does CEO’s entrepreneurial experience promote corporate green innovation? Evidence from private-owned listed enterprises in China pp. 2592-2606

Chun Liu, Zhaoguo Zhang and Mu Zhao

More imports, more jobs? Micro evidence from manufacturing firms pp. 2607-2619

Yang Xiao, Xiaoming Zhu and Jing Ma

The impact of climate policy uncertainty on tail risk of energy companies: Evidence from China pp. 2620-2635

Na Zhang, Siyu Fan, Yuejiao Zhao and Hui Jiang

E-Wallet adoption and health insurance uptake in India: Evidence from a copula regression analysis pp. 2636-2657

Reshmi Sengupta and Debasis Rooj

City commercial banks’ expansion and firm innovation: Evidence from China pp. 2658-2673

Sai Wang, Shirong Zeng and Wenwu Xie