被引排行
The Study on Measurement of Multidimensional Relative Poverty
FANG Ying-feng;ZHOU Shao-chi;China enters into the "post poverty alleviation era" after year 2020,absolute poverty measurement with single income can not satisfy the need of targeted poverty alleviation in China's new development phase.Based on Alkire-Foster multidimensional poverty measurement method, the relative poverty line is used to identify the poverty of each dimension and multidimensional poverty, and then construct a "dual relative cut-off" multidimensional relative poverty measurement system.Then the CFPS data from 2010 to 2018 is adopted to calculate China's multidimensional relative poverty.It is found that, comparing with multidimensional absolute poverty, the multidimensional relative poverty has much more significant reduction, and also has significantly larger difference among groups.It implied that, the living standard of the Chinese improved significantly, but it is still serious for unbalanced development among groups, health poverty will be the main reason for China's future poverty.Hence, it will be a better choice to construct a relatively unified multidimensional relative poverty system for China's targeted poverty alleviation in the new era.
To What Extent the Health Cause of Poverty Vulnerability:An Empirical Study Based on CHNS Rural Data
HUANG Xiao;School of Economics,Chongqing Technology and Business University;The emergence of poverty vulnerability mainly dues to the falling of household's health level.Based on discussing the theoretical mechanism between poverty vulnerability and health,this paper calculates the poverty vulnerability index and the health utility index,then estimates the effect from health to poverty vulnerability and analyzes its mechanism.The results show that household's health deteriorated would make it to face higher poverty vulnerability;once the average health status reduces 10%so that the poverty vulnerability would go up 6%.Among the three main mechanisms between health and poverty vulnerability,physical capital channel and social capital channel have been proved to be effective. However,the human capital channel presents a little effect but it has insufficient significant test statistically.In fact,the key points of designing prospective policies against poverty may lie in establish a risk prevention mechanism in health.It includes that enhances medical care level in rural,builds major health disaster relief system,or improves the investment in equalization of public services in rural areas.
Fintech, Corporate Finance and Efficiency of Credit Resource Allocation
WANG Mancang;NIE Yifan;WANG Yaoping;MA Fenfen;The existence of distorted interest rates and imperfect credit markets in China has led to an inefficient allocation of credit resources.It is highlighted by the fact that private enterprises and SMEs face credit rationing, while state-owned enterprises and large enterprises have easier access to credit, due to their state-owned background and scale advantages.Fintech has developed rapidly in recent years.On the one hand, technology companies have ventured into the financial sector and started to engage in financial business, on the other hand, banks have started to apply Fintech to improve their lending techniques.The new financial products and service models generated by Fintech help increasing the supply of credit to private enterprises and SMEs, reducing the “ownership discrimination” and “size discrimination” in the credit market, and potentially improve the efficiency of credit resource allocation.However, few literatures has explored the impact of Fintech on credit resource allocation efficiency.Regarding the impact of Fintech on bank credit supply, existing studies have only explored the impact of Fintech on the credit supply scale and structure, and have not focused on the study of the impact of Fintech on resource allocation efficiency.Therefore, the gap is filled by exploring the impact of Fintech on credit resource allocation efficiency and its theoretical mechanism based on provincial-level data from 2011 to 2020.The results of the study indicate that Fintech development can significantly improve credit resource allocation efficiency.Mechanism analysis shows that Fintech development improves the ability of financial institutions to collect and process information, effectively reduces the information asymmetry between banks and enterprises, alleviates the financing difficulties of private enterprises and SMEs, and thus improves the credit resource allocation efficiency.Heterogeneity analysis shows that the effect of Fintech development in improving credit resource allocation efficiency is significant only in regions with high government regulation, low financial disincentives, and central and western regions.However, in regions with low government regulation, regions with high financial disincentives, and eastern regions, Fintech development has no significant effect on credit resource allocation efficiency.The policy implications based on the findings are as follows.First, introduce policies to promote the development of Fintech.The government should vigorously promote the banking industry's application of Fintech and the development of technology companies.Second, build an enterprise information sharing platform to reduce information asymmetry between banks and enterprises.The government can build an information sharing platform related to enterprise business information and promote the digital transformation of enterprises to form reliable data.Third, regions with a high degree of government regulation, regions with a low degree of financial inhibition, and central and western regions should pay more attention to Fintech development.Such regions, the government should introduce corresponding incentive policies for the banking industry to accelerate the banking industry's application of Fintech.The research theoretically enriches the study of factors influencing credit resource allocation efficiency, expands the study of the economic consequences of Fintech, and provides a theoretical basis, empirical evidence, and policy reference for promoting Fintech development to improve credit resource allocation efficiency.
A Study on Carbon Emission Peak Forecast and Emission Reduction Potential of China's Industrial Sector
YUAN Xiao-ling;XI Ji-hong;LI Zhao-peng;ZHANG Wu-lin;Predicting the peak time and size of China's industrial sector carbon emissions under different scenarios has important reference value for peak target management.Based on the analysis of the carbon emission driving factors of China's industrial sectors and eight sub-sectors,this paper uses the ridge regression method to predict the peak carbon emissions under the three scenarios of benchmark,low carbon and high energy consumption.The research found that:(1) Peaking of the eight sub-sectors is the premise for the overall peaking of the industrial sector.In the baseline scenario,only the light industry and petroleum industries can reach their peak in 2030.In the low-carbon environment,all industries can reach their peak before 2030.In the context of high energy consumption,industries can only reach their peaks around 2040;(2) The overall carbon emission reduction potential of the industrial sector is 852 million tons and the peak can be reached 5 years ahead of schedule,but there is also a risk of increased emissions of 1.585 billion tons,which will delay the peak time by 11 years;(3) The chemical and steel industries belong to industries with high emission reduction potential-high emission increase risk,extractive industries belong to industries with high emission reduction potential-low emission increase risk,and light industry,electromechanical and power industries belong to low emission reduction potential-high emission increase risk.Industries,textiles and petroleum are industries with low emission reduction potential-low emission increase risk.Therefore,China should speed up the construction of the national carbon market and rationally allocate carbon emission allowances among different industries,so as to promote the high-quality development of the Chinese economy.
Can the Development of Digital Finance Boost the Technological Innovation of Traditional Industrial Enterprises?
SHENG Ming-quan;ZHANG Yue;WANG Shun;As a late-model of Chinese financial development, digital finance is of great significance to give impetus to the technological innovation of industrial enterprises in China.In recent years, emerging technologies such as artificial intelligence, big data and cloud computing have achieved rapid development, and their application scope has gradually extended to the financial field, thus forming a new inclusive financial service model to provide enterprises with more financing channels.The development of new digital inclusive finance has realized a powerful supplement to traditional financial services.It not only has wider coverage, but also has the advantages of “low cost” and “low threshold”,which provides more feasible paths for enterprises to solve financing difficulties.Then, can the vigorous development of digital finance improve the innovation level of traditional industrial enterprises?Using the data of digital inclusive finance index and patent matching of Chinese industrial enterprises, this paper investigates the impact of digital inclusive finance on industrial enterprise innovation.It is found that digital inclusive finance can alleviate the financing constraints and boost the technological innovation of traditional industrial enterprises.The above results are still valid after a series of robustness tests.Further research shows that digital inclusive finance has high inclusive value, in other words, the incentive effect of digital inclusive finance on enterprise innovation is more significant in private enterprises.And compared with developed areas, the incentive effect of digital inclusive financial development on enterprise innovation is more significant in enterprises in underdeveloped areas.In addition, the research points out that the role of digital inclusive finance in promoting enterprise innovation is inseparable from effective financial supervision.Specifically, in areas with strong financial supervision, digital inclusive finance plays a more significant role in promoting enterprise innovation.Finally, the impact of the development of digital inclusive finance on the quality of enterprise innovation is investigated.It is concluded that the development of digital inclusive finance not only improves the “quantity” of enterprise innovation, but also significantly promotes the “quality” of innovation.It enriches the relevant research on the impact of digital finance development on the innovation of traditional industrial enterprises, and provides reliable empirical evidence and policy enlightenment for the development and optimization of digital finance.The marginal contribution here can be seen in the following aspects: Firstly, the micro path of the development of digital finance in prefecture level cities is explored in China on the innovation activities of industrial enterprises, which enriches the current research literature on the development of digital finance; Secondly, the elements of financial supervision are introduced, the heterogeneity of the development of digital inclusive finance is discussed on the innovation of industrial enterprises under different external financial supervision intensity, and the empirical evidence for financial supervision department is provided in system design; Thirdly, it shows that the development of digital inclusive finance can promote the improvement of enterprises' substantive innovation level, which also provides directional reference for the implementation of Chinese innovation driven development strategy from the perspective of financial support.
An Empirical Analysis on the Profitability of China's Commercial Banks
DOU Yu-min1,LI Tao2(1.School of Continuing Education,Xi'an Jiaotong University,Xi'an 710061,China;2.School of Economics,Xi'an University of Finance and Economics,Xi'an 710061,China)The profitability of commercial banks is the main indicator to measure their efficiency.In recent years,there is much literature in theoretical circle that studies the efficiency of Chinese commercial banks from the aspects of the economies of scale and cost benefit of commercial banks.But there is little literature to study the profitability of China's commercial banks.This article firstly contrasts and analyzes the financial indicators such as the profitability of 14 commercial banks from 1994 to 2003 and finds that the ROE and ROA of four state-owned commercial banks are clearly lower than those of ten stockholding commercial banks;Meanwhile,it undertakes regression analysis to the relationship between the profitability of commercial banks and the market structure and the nature of banks' property right by econometric method.The results indicate that positive correlation exists between the profitability of commercial banks and the market share of their deposit and the ratio between deposit and asset,and negative correlation exists between the profitability of commercial banks and the nature of banks' property right.Therefore,establishing and perfecting the corporate governances of Chinese commercial banks is the key to raising their profitability.
The Research of Customer Lifetime Value Based on the Combination of Customer Purchase's RFM and Customer Online Review's RFMP
ZHAO Meng;QI Jia-yin;School of Economics and Management,Beijing University of Posts and Telecommunications;In the era of Web 2.0,more and more customers prefer publishing online reviews to share their consumption experience in purchased websites,review websites and social networking websites,which have a great impact on enterprises.This paper proposes a RFMP model based on the traditional RFM to estimate the value of customer's review behavior.Meanwhile we propose an enterprises CLV model combining the online purchase behavior which we use RFM model and review behavior which we use RFMP model,adopting entropy evaluation method to calculate the index weight instead of AHP or other subjective methods.Finally,based on our CLV measurement model,we propose a novel customer segmentation method which can give more deep description for innovative marketing strategies.
Research on the Entrepreneurial Effect of Rural Industrial Convergence Development: Empirical Test Based on the Provincial Heterogeneity
LI Xiao-long;RAN Guang-he;School of Economics and Business Administration,Chongqing University;Based on the provincial panel data of China from 2008 to 2016,and constructing the index of rural entrepreneurial activity and measuring the level of rural industrial convergence development,this paper adopts the method of system GMM and the panel threshold model,and then empirically studied the impact of rural industrial convergence development on rural entrepreneurial activity.The results show that the entrepreneurial effect of rural industrial convergence development is very obvious,that is,the rural industrial convergence development has significantly improved the rural entrepreneurship activity in China.At the same time,there is inter-provincial heterogeneity in the entrepreneurial effect of rural industrial convergence development.The better macro-external environment,such as urbanization process,rural financial development,rural human capital and industrial structure,etc,the effect of rural industrial convergence development on rural entrepreneurial activity is more and more significant.The conclusion of this paper is not only helpful to understand the relationship between rural industrial convergence and rural entrepreneurial activities,but also provides new insights for the supply-side structural reform of agriculture and the rural industrial convergence development.
Digital Economy Drive and Innovation Development in China’s Traditional Industries
WANG Dan;HUI Ning;XU Xiaodan;The research on the digital economy-driven and the innovative development of China's traditional industries is of great value to promote the deep integration of the digital economy and the real economy, and build a digital industry cluster with international competitiveness.From this perspective, it is necessary and important to build an indicate system of the development of digital economy.Therefore, on the basis of sorting out of the classic research context, 13 secondary indicators are selected comprehensively from four dimensions: digital infrastructure, digital application status, digital development environment, and digital financial development.It constructs an indicator system for the development level of China's digital economy, and uses principal component analysis to calculate the development index of China's digital economy from 2011 to 2020.Following the logical idea of “digital empowerment-multiple drivers-innovation and change”,the paper uses a variety of econometric models such as panel fixed effect model and intermediary effect model to empirically test the driving effect, transmission path and regional heterogeneity of the digital economy on the innovation and development of traditional industries.The research findings are as follows: First, the development of digital economy can significantly improve the innovation ability of traditional industries.The conclusion is still valid after the endogeneity test with generalized moment estimation method and the robustness test with exogenous impact.Second, from the perspective of driving path, the digital economy has had a positive impact on the innovation and development of traditional industries by facilitating the transformation and upgrading of traditional industries, promoting the development of inclusive finance and stimulating consumer demand.The intermediary effect of industrial structure, financial development and consumer demand accounted for 8.89%,11.09% and 21.02%,respectively.It can be seen that the intermediary role of consumption demand is more obvious among these three variables.Third, there is regional heterogeneity in the driving effect of digital economy on the innovation and development of traditional industries.Digital economy significantly promotes the innovation and development of traditional industries in the eastern and western regions, but has no significant impact on the central region.Based on the above conclusions, the following policy recommendations are put forward:(1) Continue to further promote the integrated development of digital economy and traditional industries;(2) Optimize the top-level system design, give play to the role of “intermediary factors” of industrial upgrading, financial development and consumer demand;(3) Implement differentiated digital economy strategies to enhance the coordination and balance of development among different regions.This study provides a useful supplement for understanding the link between the digital economy and the innovation and development of traditional industries, and provides theoretical explanation and empirical test for manufacturing power, quality power, network power, and digital China.
Study on Spatial Correlation of Digital Economy and Its Driving Factors in China
YU Hai-hua;Based on the digital economy development index of 31 provinces in 2018,the gravitational model and social network analysis method are applied to analyze the spatial correlation of digital economy and its driving factors in China.The empirical finds that the inter-provincial correlation of the digital economy presents the development characteristics of the :center-periphery" type and unbalanced distribution,the provinces of network have sparse connections,poor stability,and weak hierarchical structure,but they can communicate and reach each other.The development center of digital economy is located in the eastern coastal provinces and plays the role of "bridge" and central actor,it constantly attracts element resources from peripheral provinces and has a great radiating force on peripheral provinces.The correlation and spillover between the plates are remarkable,giving play to the central advantage of two-way spillover and the main beneficiary plate of the eastern provinces,and guiding the broker and net spillover plate of the central and western provinces to enhance the development capacity.The significant differences among provinces in industrial structure,regional openness,infrastructure,technological innovation,marketization,informatization,and urbanization,all drives the spatial correlation of digital economy.We should establish the concept of integrated development,attach importance to spatial relevance and spillover effects,formulate regionally differentiated development policies,narrow the “digital divide”,and promote the coordinated development of the digital economy between provinces.