Table of Content 期刊目录
1. Demographic changes and economic growth: impact and mechanisms
Qian Hu, Xiaoyan Lei & Bo Zhao
Pages: 223-242

2. Wage payments and fixed capital investment in imperfect financial and labor markets: the case of China
Tao Gu
Pages: 243-290

3. Digital financial inclusion and economic growth: provincial data analysis of China
Mahmood Ahmad, Abdul Majeed, Muhammad Asif Khan, Muhammad Sohaib & Khurram Shehzad
Pages: 291-310

4. A new algorithm for matching Chinese NBS firm-level with customs data
Peter Egger, Susie Xi Rao & Sebastiano Papini
Pages: 311-335

5. Overcoming the middle-income trap: International experiences and China’s choice
Pingping Wang, Xun Wang, Zhuo Huang & Baoqun Fan
Pages: 336-349

6. Trade related sectorial infrastructure and exports of belt and road countries: does belt and road initiatives make this relation structurally instable?
Faheem Ur Rehman & Abul Ala Noman
Pages: 350-374

7. Steerer of global economic growth: did China step in role during the 2007-08 Great Recession? Evidence from some East Asian economies
Moussa K. Fall
Pages: 375-387

Article Abstract 文章摘要
1. Demographic changes and economic growth: impact and mechanisms
Qian Hu, Xiaoyan Lei & Bo Zhao
Pages: 223-242
ABSTRACT
Using panel data on 172 countries from 1960 to 2019, this paper empirically analyzes the impact of population aging on economic growth and explores the underlying mechanisms. We find that the aging of the population significantly reduces the economic growth rate: when the population over age 65 increases by 1 percentage point, the per capita economic growth rate decreases by 2.6 percentage points. We examine four channels through which population aging may affect economic growth and find that three channels play significant roles: capital accumulation, labor supply, and economic structure, while technological progress and human capital accumulation do not seem to be significant. We also find significant heterogeneity in the impact across countries at different income levels: the effects are statistically significant for middle-income and high-income countries, but not for low-income countries.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2020.1865647

2. Wage payments and fixed capital investment in imperfect financial and labor markets: the case of China
Tao Gu
Pages: 243-290
ABSTRACT
This paper examines how wage payments and fixed asset investments are determined, and their interrelationship, under China’s imperfect financial and labor markets. We collect aggregate data on wages, the financial market, and fixed asset investments from several statistical yearbooks. The main results are as follows: (1) borrowing constraints hinder wage payments, but this phenomenon is not observed in the state-owned and foreign-funded units; (2) in the nonstate-owned sector, there is a strong reliance on internal reserves that is not observed in the state-owned units, suggesting that the nonstate-owned sector is treated differently in the financial market; and (3) in the state-owned units, wage growth has a positive correlation with fixed asset investments, whereas in the nonstate-owned sector, this relationship is not observed. This implies that in the nonstate-owned sector, the underpayment of wages may be used as a survival strategy to conduct business under financial constraints.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2021.1964772

3. Digital financial inclusion and economic growth: provincial data analysis of China
Mahmood Ahmad, Abdul Majeed, Muhammad Asif Khan, Muhammad Sohaib & Khurram Shehzad
Pages: 291-310
ABSTRACT
China’s rapid expansion of digital financial inclusion in the last few years has dramatically augmented the accessibility and affordability of financial services, predominantly serving formerly financially excluded people, and positively contributes to higher economic growth. Despite the importance of digital financial inclusion in promoting economic growth, empirical evidence is relatively thin. Moreover, none of the studies has considered human capital in the nexus. Therefore, this study examines the impact of digital financial inclusion and human capital on China’s provincial economic growth. Unlike previous studies, this study uses the new proxy of digital financial inclusion based on breadth of coverage, depth of usage, and digitalization level. The empirical findings show that digital financial inclusion and human capital significantly affect China’s provincial economic growth. Based on this study’s findings, we recommend investment in human capital development and, at the same time, upgrading digital financial inclusion to attain higher economic growth.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2021.1882064

4. A new algorithm for matching Chinese NBS firm-level with customs data
Peter Egger, Susie Xi Rao & Sebastiano Papini
Pages: 311-335
ABSTRACT
Combining accounting-type firm data and transactions-type customs data has become increasingly important for research in international and industrial economics. The statistical authorities in several countries such as the United States or France provide such linked data without details on sources, and researchers have to assume that the matching is correct and the firm identifiers are unique and flawless in the source data. For some other countries such as Switzerland or China, firm and customs data contain information which permits such linking ex post using string matching based on firm names and their meta-information like addresses. Due to spelling and typos, such matching is prone to some errors. Obtaining the largest-possible number of high-quality matches helps avoid potential biases while keeping crucial details. We report on a new algorithm which improves considerably the hitherto available linking efforts of the National Bureau of Statistics firm-level and the Customs trade data for China.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2021.1963046

5. Overcoming the middle-income trap: International experiences and China’s choice
Pingping Wang, Xun Wang, Zhuo Huang & Baoqun Fan
Pages: 336-349
ABSTRACT
Overcoming the middle-income trap is the main task of China’s next stage of economic development. International experiences show that continuous innovation and industrial upgrading in an open market environment are the keys to overcoming the middle-income trap. An open market is a prerequisite for a high-income economy. The expansion of trade, investment, and exchange activities helps emerging economies absorb technology transfer and knowledge spillover from advanced regions, which ultimately enhance innovation capacity and promote human capital accumulation and domestic industrial upgrading. Therefore, China will need to continue promoting domestic market-oriented reform, strengthen the construction of its domestic market, and open up to a greater extent to create a strong internal institutional environment and an external market environment for innovation. These will ensure the successful transformation of China from a middle-income to a high-income economy.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2021.1965788

6. Trade related sectorial infrastructure and exports of belt and road countries: does belt and road initiatives make this relation structurally instable?
Faheem Ur Rehman & Abul Ala Noman
Pages: 350-374
ABSTRACT
This study investigates the impact of infrastructure on export in Belt & Road countries during 1990–2017 by applying System GMM approach. The results confirmed the significant and positive impact of aggregate and sub-indices (i.e., transport, telecommunication, energy and financial sector) of infrastructure on export in total sample as well is in grouped samples (like Asia, Europe and Middle East, and Africa). Most importantly, this study also examines the pre and post strategy of Belt and Road initiative (BRI) in total sample of belt and road countries. The empirical outcomes reveal that the coefficient of aggregate and all other sub-indices of infrastructure improved due to BRI which in turn encourage export in the selected economies. Furthermore, the control variables of exchange rate, per capita GDP, domestic investment, and institutional quality have also significant effect on export, which strengthen the role of infrastructure in promoting export in belt & road economies.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2020.1840014

7. Steerer of global economic growth: did China step in role during the 2007-08 Great Recession? Evidence from some East Asian economies
Moussa K. Fall
Pages: 375-387
ABSTRACT
In this paper, we investigate the impact of China’s fiscal stimulus on its major East Asian trading partners in the wake of the 2007–2008 world financial and economic crises, by estimating structural vector autoregressive (SVAR) models with monthly data, spanning the 2000–2013 period, for four countries within the Asian Production Chain: Singapore, Malaysia, Korea, and the Philippines. In fact, China’s fiscal stimulus has had positive effects on output in all those countries coupled with an inflationary pressure, mostly fueled by the increasing domestic demand in China. The effects vary between countries and time horizons.
Link to the original text:：
https://www.tandfonline.com/doi/abs/10.1080/17538963.2021.1893141