Economic Analysis and Policy

1970 - 2025

Current editor(s): Clevo Wilson

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Volume 85, issue C, 2025

Unveiling the shadows: The effects of financial conditions on the tail risks of China's macroeconomic activities pp. 1-14

Han Liu, Lijun Wang and Xingxuan Zhuo

The impact of artificial intelligence on global energy vulnerability pp. 15-27

Qingyuan Zhu, Chenhao Sun, Chengzhen Xu and Qianqian Geng

Does the incentive policy for renewable energy grid connection affect the technical efficiency of power grid companies? Empirical analysis based on China and Japan pp. 28-47

Biao Li, Bai-Chen Xie, Xiao-Chen Yu, Zhen-Yu She and Wenhao Hu

Artificial Intelligence-driven regional energy transition:Evidence from China pp. 48-60

Zuoxiang Zhao, Qiuyun Zhao, Siqi Li and Jiajia Yan

Beyond the ivory tower: Professors on the board and corporate performance in China pp. 61-77

Zhisheng Li, Jiazhu Pang and Xinxin Jing

Dynamic spillovers between Shanghai crude oil futures and China's green markets: Evidence from quantile-on-quantile connectedness approach pp. 78-93

Min Liu, Hongfei Liu and Weiying Ping

Does regional integration promote the improvement of the green production efficiency of tourism industry? pp. 94-110

Di Xu, Pengfei Shi, Chunyan Wu and Yu Diao

Issuance of urban investment bonds and high-quality urban economic development pp. 111-130

Liuzhen Zhang and Wunhong Su

Shadow banking contraction and employment decisions in manufacturing firms: Empirical evidence from China's new asset management regulations pp. 131-149

Zhengrong Yuan and Qiuzuo Yu

Reformation of government officials’ performance evaluation and corporate environmental investment: The moderating effect of corporate bargaining power pp. 150-168

Qiang Li, Zichun He, Wenjuan Ruan, Yulei Xia and Qingting Cai

Impact of the business environment on national innovation capacity – Empirical study based on OECD countries pp. 169-185

Pinglin He, Yihan Ma and Mingze Yin

Strong financial regulation and the intelligent transformation of enterprises pp. 186-207

Baizhen Zhang and Meiting Guo

Optimal portfolio selection of China's green bond and stock markets: Evidence from the multi-frequency extreme risk connectedness pp. 208-237

Wei-Qiang Huang and Jing Dai

Behavioral responses to inheritance taxation – A review of the empirical literature pp. 238-260

Margit Schratzenstaller

Inclusive financial development and common prosperity: An empirical analysis using individual-level data pp. 261-274

Luo, Hang (Robin) and Dawei Yan

Discussing the role of urban renewal incentive policies based on housing price effects pp. 275-291

Wen-Kai Wang and I-Chun Tsai

The relationship between board characteristics and corporate credit ratings—Evidence based on the Chinese market pp. 292-316

Yuhan Zhao, Yaqi Zhang and Pinglin He

Financial market responses to the policy language of forward guidance: Evidence from China pp. 317-335

Li Nie, Yulong Wang and Kai Shi

Fertility policy, fertility intentions, and fertility transition: A quasi-natural experiment based on the "Universal Two-Child" Policy pp. 336-352

Haidong Lei, Jie Ma, Xiaodong Chen and Ziyue Ding

The impact of inclusive lending support on the performance of small and micro enterprises: Evidence from China pp. 353-370

Dan Li and Yanyang Sun

Constraining effects of local government debt on bank loan growth pp. 371-382

Mingyao Cao, Keyi Duan and Haslindar Ibrahim

Inflation expectations and house prices in the euro area pp. 383-391

Nektarios Michail and Kyriaki G. Louca

The effectiveness of China's fiscal subsidy policies in supporting the development of rural inclusive finance pp. 392-406

Xiang Yin, Yin-E Chen and Chun-Ping Chang

Does the timing of subsidized loans matter for clean energy technological innovation? Evidence from China pp. 407-425

Fengyun Liu, Jingqian Huang, Qu Yan and Lu Yao

How does AI affect urban carbon emissions? Quasi-experimental evidence from China's AI innovation and development pilot zones pp. 426-447

Kun Zhang, Zi-Xuan Kou, Pei-Hua Zhu, Xiang-Yan Qian and Yun-Ze Yang

Impact of short-term labor contracts on financial health: Evidence from migrant worker households in China pp. 448-463

Liang Ma, Qiqi He and Qixu Gan

The impact of RMB exchange rate changes on the prices of imported products by Chinese firms pp. 464-478

Wenqian Zhang and Hao Wei

Does reduced tax avoidance affect CSR? Evidence from a Quasi-natural experiment in China pp. 479-493

Danyu Zhu, Zijun Luo and Han Qin

Can money help to achieve the Paris agreement goal? the missing piece of the puzzle: How green monetary policy can bridge the emissions gap pp. 494-529

Hafiz Muhammad Yasir Zia, Wanping Yang, Abdullah Masood, Afaf Ahmed and Salem Hamad Aldawsari

Regulatory enforcement and firm sustainability: Evidence from China's environmental public interest litigation reform pp. 530-545

Bo Cheng, Zhimeng An and Wei Li

Oil shocks greasing the wheels of Islamic stocks: An explorative forecasting analysis pp. 546-557

Ibrahim D. Raheem, Oluyele Akinkugbe and Xuan Vinh Vo

Institutional openness and city cross-border e-commerce: Evidence from China's pilot free trade zones pp. 558-570

Mengjuan Ma, Ziling Yu, Lili Ma and Wenyuan Guo

Green innovation in manufacturing enterprises and digital transformation pp. 571-578

Yang Tingting and Xu Botong

Storms and sustainability: Assessing the impact of natural disasters on debt sustainability in the Caribbean pp. 579-591

Akeem Rahaman and Michelle Majid

Market integration and corporate participation in rural revitalization empirical evidence from Chinese listed companies pp. 592-606

Siming Yu, Jianhong Long, Xie Jian, Fang Yajun, Zhao Tuanjie and Wei Fang

Does the government digital attention improve China's digital economy output efficiency: Accelerator or inhibitor pp. 607-625

Xiang Li and Shujing Yue

Unfavorable weather, favorable insights: Exploring the impact of extreme climate on green total factor productivity pp. 626-640

Lei Li, Yifan Zheng, Shaojun Ma, Xiaoyu Ma, Jian Zuo and Michael Goodsite

The impact of China's 2014 Hukou reform on economic growth pp. 641-655

Xing Guo and Jiajun Xu

Food demand and intertemporal allocation of food expenditure pp. 656-674

Kim, H．Youn and Wong, K．K．Gary

An integrated analysis of AI-driven green financing, subsidies, and knowledge to enhance CO2 reduction efficiency pp. 675-693

Chien-Chiang Lee, Jafar Hussain and Qasir Abass

Leading change: The impact of female officials on the rural toilet revolution in China pp. 694-716

Andi Cao and Houjian Li

“Dual synergistic” transformation and corporate total factor productivity: Empirical evidence from China pp. 717-732

Li Tang, Teng Zhang, Jinglang Wang, Baoliu Liu and Yujie Huang

Public data openness and corporate total factor productivity pp. 733-753

Yifan Qian

Modelling the alcohol consumption patterns of australian households pp. 754-767

Eliyathamby A Selvanathan, Maneka Jayasinghe and Saroja Selvanathan

Does mandatory operating information disclosure affect corporate earnings management? Evidence from China pp. 768-790

Na Li, Guifeng Shi, Ping Guo, Yanqin Wu and Weijia Zhuo

Experts on the board: How do IT-savvy directors promote corporate digital innovation? pp. 791-817

Sihan Zhang and Zhibin Chen

Unleashing the digital dividend: Exploring how the digital economy promotes the construction of new urbanization in China’s 284 prefecture-level cities? pp. 818-834

Rui Chen, Yufeng Wang, Qi Wang, Lingling Zhang and Ruoxi Xiong

The carbon tax as an automatic stabilizer in a commodity-producing Small Open Economy pp. 835-853

Cristian Espinosa, Pablo Gutierrez Cubillos and Bastián Castro Nofal

On ESG and corporate employment decision: Evidence from Chinese listed firms in 2009–2022 pp. 854-869

Yichi Jiang, Xuanyue Zhang and Shujie Yao

Human capital expansion and urban innovation pp. 870-887

Yian Chen, Lin Chen and Guiping Li

Impact of regional finance reform and innovation policies on green innovation in pilot cities: A quasi-natural experiment pp. 888-911

Shen Zhong, Zhicheng Zhou and Wei Gao

Government power delegation and the policy burden of state-owned enterprises pp. 912-927

Mengchao Yao and Qianwei Ying

The determinants and blocking countermeasures of Chinese officials ‘being preyed on’ pp. 928-942

Huihui Luo and Zhaohui Niu

Encouraging or inhibiting: Can analyst attention reduce corporate greenwashing behavior? pp. 943-962

Mengzhi Zhang and Wenjian He

Climate finance for energy security: An empirical analysis from a global perspective pp. 963-978

Chi-Chuan Lee and Yuzhu Fang

The impact of environmental policy stringency and oil prices on innovation: Evidence from the new energy vehicle industry in China pp. 979-996

Jianhua Huangfu, Weixian Wei, Lei Yu and Guoliang Li

Evaluation and influencing factors of sustainable economic development: A spatial analysis in the Yellow River Basin pp. 997-1011

Zhenhua Zhang, Chao Hua, Malin Song, Marshall S. Jiang, Jianjun Miao and Xue-Li Chen

Impact of business environment uncertainty on ESG performance from the perspective of resource supply and demand based on ESG performance pp. 1012-1030

Lisha Jiang, Wei Zhou, Wu Hualiang and Wei Deng

CEOs' hometown connections and optimism in analyst earnings forecasts: Evidence from China pp. 1031-1052

Fanjie Fu, Shujie Yao, Jing Fang, Fan Zhang and Chuan Lin

Does China's national carbon market play a role? Evidence from corporate ESG performance pp. 1053-1064

Chun Tang, Yizhong Wu and Xiaoxing Liu

Macro-level implications of the energy system transition to net-zero carbon emissions: Identifying quick wins amid short-term constraints pp. 1065-1078

Marko Raseta, Andrew Ross and Stefan Vögele

Does ownership matter in driving green subsidies effects? A quasi natural experiment in China pp. 1079-1104

Kebin Deng, Zhong Ding, Liuyang Ren and Ziyun Xiang

The effect of tax enforcement digitalization on corporate digital transformation: Evidence from China's listed companies pp. 1105-1134

Yanhui Xu, Fuhua Deng and Qianbin Feng

Evolving impacts of fiscal policy on macroeconomic fluctuations in Peru pp. 1135-1158

Alexander Meléndez and Gabriel Rodríguez

How does the urban digital economy drive labor allocation in China?—A perspective of factor mobility between digital and non-digital enterprises pp. 1159-1175

Xiaole Qiao, Yang He and Qiang Du

Do different decentralization reforms prohibit or inhibit Chinese corporate carbon emission intensities? pp. 1176-1196

Zhiqiang Bian and Caibin Zhang

How to reshape the international competitive advantage of Chinese manufacturing enterprises: A perspective of input servitization pp. 1197-1215

Fenglan Chen and Shanshan Wang

Innovation incentives and corporate tax avoidance: Evidence from China pp. 1216-1237

Junyi Xiang, Qi Shao and Yong Fan

City size distribution and utility of living: Exploring intercity migration in Japanese urban systems pp. 1238-1257

Masanobu Kii, Chun-Chen Chou, Tatsuhito Kono and Toshimori Otazawa

Does Fintech improve the carbon reduction effect of green credit policy? Evidence from China pp. 1258-1269

Jiayu Wan, Zihan Niu and Bin Li

Unleashing the empowered effect of data resource on inclusive green growth: Based on double machine learning pp. 1270-1290

Zhehao Huang, Hao Dong, Zhaofei Liu and Khaldoon Albitar

Austerity reexamined: Uncovering the role of the shadow economy pp. 1291-1317

Khalil Bechchani

How does the changing financing landscape towards debt from international private creditors affect economic growth in developing countries? pp. 1318-1336

Mijiyawa, Abdoul’ Ganiou

Self-regulation, media pressure, and corporate catastrophes pp. 1337-1356

Edina Berlinger, Judit Lilla Keresztúri and Ágnes Lublóy

Impacts of international sanctions on sender countries’ innovation pp. 1357-1373

Siqin Wang, Jun Wen, Xinxin Zhao and Xiaozhou Zhou

Entrepreneurial miracles in the low-carbon transition: Causal inference from China's low carbon city pilot pp. 1374-1390

Zihan Yan and Lewei Liao

Improving economic complexity index: Insights from value added pp. 1391-1408

Lulu Zhang, Weiming Chen, Qian Zhang, Kairui You and Gang Diao

Does public data openness accelerate new quality productive forces? Evidence from China pp. 1409-1427

Yuan Zhong, Huisu Lai, Liang Zhang, Lixiang Guo and Xiaobing Lai

Firm-level perception of uncertainty, risk aversion, and corporate real estate investment: Evidence from China's listed firms pp. 1428-1441

Fengfu Mao, Yue Yuan and Fan Zhang

Impact of public investment on agricultural productivity growth: Evidence from China pp. 1442-1455

Siqi Zhang, Rong Cai and Shujuan Wang

The impact of ESG performance on the perception of economic policy uncertainty: Evidence from China pp. 1456-1474

Rui Long and Zhaobin Fan

How does digital trade development affect carbon emissions? Evidence from China pp. 1475-1491

Mengyang Yang, Yawen Liu, Jingle Wang and Xiaobin Tang

Land transfer and cropping structure: Evidence from China pp. 1492-1513

Yifan Qian and Xingjian Yao

Corporate bond defaults and cross-regional investment: Evidence from China pp. 1514-1533

Xun Hu, Cheng Xue and Xiangfang Zhao

Increasing the share of renewable energy sources (RESs) in the specific portfolio by using the taxation mechanism: Study at the level of EU states pp. 1534-1549

Bogdan Narcis Firtescu, Ionel Bostan, Maria Grosu, Laurențiu Droj and Camelia Catalina Mihalciuc

Does rural Households’ financial literacy affect the household portfolio choices in poverty alleviation areas? pp. 1550-1562

Xuejun Guo, Xiaoxi Guo and Haoran Guan

Dose tariff exposure stimulate city crimes? Evidence from China-US trade war pp. 1563-1579

Yabo Li, Zhen Zhang, Rui Teng and Shuo Fan

Innovative incentive effects of domestic market integration: Evidence from the Yangtze River Delta region of China pp. 1580-1594

Jiukai Hu, Deqing Luo and Yiming Wang

The dynamic influence of green technology and environmental taxes on consumption-based carbon emissions in Brazil pp. 1595-1612

Omar Ahmed Abdulraqeb, Cao Erbao, Abdullah Aloqab and Hamdi Naji

Green loans: Navigating the path to sustainable profitability in banking pp. 1613-1624

Ririen Setiati Riyanti, Permata Wulandari, Ruslan Prijadi and Emili Tortosa-Ausina

Does institutional investors’ environmental attention influence corporate environmental investment? pp. 1625-1644

Qinqin Wu, Tingting Xie and Jing Lu

Green manufacturing pioneers: Unveiling the carbon dioxide reduction effect of China's green factories pp. 1645-1662

Shengming Hu, Lanlan Cao, Yanli Shi and Hui Wang

Interest rate liberalization and labor cost stickiness: A quasi-natural experiment from China pp. 1663-1675

Tiantian Wang, Qian Wei and Ruiqi Sun

Does deglobalization affect the withdrawal of foreign-invested enterprises? -Evidence from the US-China trade conflicts pp. 1676-1698

Siyi Peng, Hongfu Ni, Daocheng Zhong and Zijie Fan

Every coin has two sides: Does bankruptcy judicial reform promote corporate innovation༟ pp. 1699-1720

Haiping Si, Chengyu Li, Miao Miao, Xueyao Li and Chao Wang

Disentangling the effects of green finance in reducing CO2 emission from energy systems: Evidence from a novel factor decomposition mechanism pp. 1721-1738

Yaxian Wang, Xiaoyu Wang, Tomas Baležentis, Yuanying Chi and Dalia Streimikiene

Trade liberalization and energy efficiency: Quasi-natural experiment evidence from the pilot free trade zones in China pp. 1739-1751

Minzhe Du, Chukun Huang and Liping Liao

Reassessing the role of exchange rates in export dynamics: Evidence from a disaggregated industry-level analysis in the case of Nepal pp. 1752-1759

Ashmita Dahal, Rohan Byanjankar, Bhushan Praveen Jangam and Badri Narayan Rath

The Impact of China’s Digital Aid on Income Inequality: Evidence from 127 Developing Economies pp. 1760-1775

Rui Wang and Shanshan Yang

The nexus among geopolitical risk, metal prices, and global supply chain pressure: Evidence from the TVP-SV-VAR approach pp. 1776-1789

Yiqing Jia, Yang Liu and Farhad Taghizadeh-Hesary

Regulator as a minority shareholder: How does public-plus-private enforcement affect investment-to-price sensitivity? pp. 1790-1815

Yi Hu, Shuchang Jin and Zhitao Xiong

Newly updated nationally determined contributions: Implications for the global energy transition pp. 1816-1829

Trang Tran, Duy Nong, George Verikios, Ray Marcos-Martinez, Yingying Lu and Heinz Schandl

Balancing export intensity and innovation: Uncovering the inverted-U relationship in Chinese manufacturing firms pp. 1830-1845

Hua Zhou, Xiaodong Zhang and Lun Yang

From algorithms to green growth: Can artificial intelligence drive enterprise energy transformation? pp. 1846-1866

Meiying Huang, Quan Li and Bowen Li

Can digital infrastructure improve corporate productivity? Evidence from a quasi-natural experiment in China✰ pp. 1867-1884

Shunjie Meng and Xiaoxin Xu

Government industrial priorities, public corporate governance and corporate innovation: A political push perspective pp. 1885-1900

Junhong Bai, Qishuo Cai, Nengzhi Yao and Qiaozhe Guo

The impact of foreign divestment on Chinese firms' DVAR in exports pp. 1901-1915

Ran Xiong, Hui Zhang and Chengcheng Zhang

Impact of countercyclical fiscal policy on total factor productivity in state-owned enterprises: A corporate governance perspective pp. 1916-1930

Wenyin Cheng, Shenglong Liu, Bo Meng and Yuning Gao

Research on the tax compliance effects of corporate platform transformation pp. 1931-1948

Shi Chen

Economic impact and policies for the obesity pandemic in emerging economies pp. 1949-1970

Carlos García

How does carbon transition risk drive corporate diversification? Evidence from heavy emitter firms in China pp. 1971-1994

Khanh Hoang, Cuong Nguyen, Toan Luu Duc Huynh, Hailiang Zhang and Van Thi Thuy Vu

Assessing geopolitical risk: Sovereign CDS insights from the Russo-Ukrainian War pp. 1995-2006

Olivér Nagy and Gabor Neszveda

The good, the bad: How digital technology shapes welfare for formal and flexible workers? pp. 2007-2029

Su Zhang, Yan Xia, Huijuan Wang and Jiaofeng Pan

Consumer preference for fresh produce: Does the biological control influence their choices? pp. 2030-2042

Zhenzhen Liu, Xianhui Geng, Zhifeng Gao and Jingqiu Zhang

The effect of low-carbon city pilot policy on public health: An empirical analysis of adult health in China pp. 2043-2062

Hongwen Chen, Jie Dian, Sihan Fan and Ying Fang

Greening through economic complexity: New evidence from Chinese cities pp. 2063-2090

Mengying Ni, Zimin Liu and Zhuang Zhang

Does green finance reform promote corporate carbon emission reduction? Evidence from China's green finance reform and innovation pilot zones pp. 2091-2111

Linzhi Han and Jiawen Li

Analyzing non-linear and interactive impacts of distance learning on college enrollment post-COVID-19 pp. 2112-2125

Noha Emara, Mycaeri Atkinson, Sumit Karn and Tiffany Tryon

The differentiated effect of China's new environmental protection law on corporate ESG performance pp. 2126-2141

Rongrong Wei, Zhaopeng Yu and Deyun Zhen

Labor force allocation changes triggered by extreme heat events—Evidence from China pp. 2142-2160

Hongtian Wang, Jinghan Shan, Xuemei Zhang, Pu-yan Nie and Chan Wang

How do carbon pricing spillover effects impact green asset price volatility? An empirical study based on the TVP-VAR-DY model pp. 2162-2179

Zheng He, Zhengkai Liu, Congzhi Zhang and Yuanjun Zhao

Sunrise, sunset, and adverse effects of the inflexible schedule on the health of students: Evidence from China pp. 2180-2191

Zhicheng Xu and Qingqi Zhao

National river conservation plan and water pollutants in India pp. 2192-2206

Apra Sinha and Ashish Kumar Sedai

Open government data and green economic growth pp. 2207-2218

Li Jing, Quan Tianshu and Han Qing

Does land transfer-out facilitate an upgrade in farmers’ consumption pp. 2219-2233

Jian Zhang, Ting Li, Yuhui He and Zhaohui Li

Fair competition and investment behavior of foreign-invested firms—Evidence from a quasi-natural experiment in China pp. 2234-2246

Xiaodi Huang, Xiaoxiong Chen, Zuming Liang, Hongjie Wu and Siyang Kang

Does development zones improve the capacity utilization of firms? Based on the dual perspectives of firms inside and outside the zone pp. 2247-2264

Weijie Jiang, Jiaying Dai and Laiqun Jin

The impact of increasing labour market rigidity on employment growth in OECD countries pp. 2265-2275

Rasmus Wiese, Joao Jalles and Jakob de Haan

Water resources tax and corporate R&D strategies: Policy effects on innovation investment and collaboration preference pp. 2276-2298

Duan Liu, Liyun Peng, Qiuhong Wang, Hong Wan and Nizhou Yu

Narrowing the gap: Dynamics of Indonesia's public expenditure performance in economically lagging districts pp. 2299-2318

Ardi Sugiyarto, Boon L. Lee and Clevo Wilson