Economic Modelling

Article	Citations
The impact of digital finance on household consumption: Evidence from China	376
Safe haven, hedge and diversification for G7 stock markets: Gold versus bitcoin	283
Price connectedness between green bond and financial markets	246
Is gold a hedge or a safe-haven asset in the COVID–19 crisis?	242
ICT diffusion, financial development, and economic growth: An international cross-country analysis	202
Does corporate social responsibility reduce financial distress risk?	194
Voluntary environmental regulation and firm innovation in China	153
Economic policy uncertainty and financial stability–Is there a relation?	151
Market-based environmental regulation and total factor productivity: Evidence from Chinese enterprises	141
Impact of the digital economy on high-quality urban economic development: Evidence from Chinese cities	140
Economic growth, corruption, and financial development: Global evidence	120
The static and dynamic connectedness of environmental, social, and governance investments: International evidence	110
Stock market response to environmental policies: Evidence from heavily polluting firms in China	109
Fancy Bitcoin and conventional financial assets: Measuring market integration based on connectedness networks	96
Foreign direct investment and economic growth: Is more financial development better?	91
The joint spillover index	84
Policy-related risk and corporate financing behavior: Evidence from China’s listed companies	83
BitCoin: A new basket for eggs?	82
Economic policy uncertainty and the Chinese stock market volatility: Novel evidence	80
Air conditioning and electricity expenditure: The role of climate in temperate countries	80
Can enterprise digitization improve ESG performance?	79
Economic policy uncertainty and mergers and acquisitions: Evidence from China	76
Revisiting the roles of cryptocurrencies in stock markets: A quantile coherency perspective	75
Common risk factors in the returns on cryptocurrencies	71
Locus of control, health and healthcare utilization	69

TFP growth in Chinese cities: The role of factor-intensity and industrial agglomeration	65
Research on the influence of manufacturing agglomeration modes on regional carbon emission and spatial effect in China	65
Crude oil and BRICS stock markets under extreme shocks: New evidence	65
Foreign aid, institutional quality and economic growth: Evidence from the developing world	63
Financial inclusion and agricultural total factor productivity growth in China	63
Wealth inequality, governance and economic growth	62
Quantile spillovers and dependence between Bitcoin, equities and strategic commodities	61
Public debt and economic growth in developing countries: Nonlinearity and threshold analysis	59
Carbon emissions and default risk: International evidence from firm-level data	57
Does non-fundamental news related to COVID-19 matter for stock returns? Evidence from Shanghai stock market	55
Does top management Team’s academic experience promote corporate innovation? Evidence from China	52
Country governance, corruption, and the likelihood of firms’ innovation	52
Is uncertainty the same everywhere? Advanced versus emerging economies	52
From command-and-control to market-based environmental policies: Optimal transition timing and China’s heterogeneous environmental effectiveness	49
The link between intellectual property rights, innovation, and growth: A meta-analysis	49
Uncertainty, financial development, and FDI inflows: Global evidence	48
Does University-Industry collaboration improve innovation efficiency? Evidence from Chinese Firms⋄	47
Can human development and political stability improve environmental quality? New evidence from the MENA region	46
Environmental decentralization and innovation in China	45
Credit constraints and productivity of SMEs: Evidence from Canada	45
How does government intervention affect the formation of zombie firms?	44
Does board gender diversity influence firm profitability? A control function approach	44
Being nice to stakeholders: The effect of economic policy uncertainty on corporate social responsibility	44
Returns and volume: Frequency connectedness in cryptocurrency markets	43
Does environmental regulation promote enterprise profitability? Evidence from the implementation of China's newly revised Environmental Protection Law	43
Regulation and innovation: Examining outcomes in Chinese pollution control policy areas	43
Economic policy uncertainty and green innovation: Evidence from China	41
Impact of the Asset Purchase Programme on euro area government bond yields using market news	40
How diversification affects bank performance: The role of human capital	39
Does retail investor attention improve stock liquidity? A dynamic perspective	39
How do zombie firms affect China’s industrial upgrading?	38
Effect of financial development on innovation: Roles of market institutions	38
Explain or conceal? Causal language intensity in annual report and stock price crash risk	38
Time-varying dependence in European equity markets: A contagion and investor sentiment driven analysis	38
Which types of commodity price information are more useful for predicting US stock market volatility?	37
Risk attitude, financial literacy and household consumption: Evidence from stock market crash in China	36
How does producer services’ agglomeration promote carbon reduction?: The case of China	36
Does a firm’s supplier concentration affect its cash holding?	36
Insurance activity, real output, and geopolitical risk: Fresh evidence from BRICS	35
Can government improve tax compliance by adopting advanced information technology? Evidence from the Golden Tax Project III in China	35
The long and short-term effects of environmental tax on energy efficiency: Perspective of OECD energy tax and vehicle traffic tax	35
Dividend policy and investor pressure	34
Impact of income inequality and fiscal decentralization on public health: Evidence from China	34
Does carbon control policy risk affect corporate ESG performance?	34
How do financial spatial structure and economic agglomeration affect carbon emission intensity? Theory extension and evidence from China	33
Market competition and firms' social performance	33
Directors’ and officers’ liability insurance and firm innovation	33
Tax cuts and enterprises’ R&D intensity: Evidence from a natural experiment in China	33
The People’s bank of China’s response to the coronavirus pandemic: A quantitative assessment	33
Foreign aid volatility and economic growth in Sub-Saharan Africa: Does institutional quality matter?	33

Determinants of corporate default risk in China: The role of financial constraints	32
Financial contagion and contagion channels in the forex market: A new approach via the dynamic mixture copula-extreme value theory	32
Financial spillovers and spillbacks: New evidence from China and G7 countries	32
Business strategy, corporate social responsibility, and within-firm pay gap	32
Historical market genes, marketization and economic growth in China	32
Does artificial intelligence affect the pattern of skill demand? Evidence from Chinese manufacturing firms	31
Consumer confidence and consumption expenditure in Indonesia	31
How do powerful CEOs influence corporate environmental performance?	31
Do auditors respond to stringent environmental regulation? Evidence from China’s new environmental protection law	31
What are the effects of economic globalization on CO2 emissions in MENA countries?	31
How does religious belief promote farmer entrepreneurship in rural China?	30
The impact of public participation in environmental behavior on haze pollution and public health in China	29
Does economic convergence hold? A spatial quantile analysis on European regions	29
The impact of external R&D financing on innovation process from a supply-demand perspective	29
Effects of political promotion on local firms’ social responsibility in China	29
Business creation, innovation, and economic growth: Evidence from China’s economic transition, 1978–2017	29
Trade openness, internet finance development and banking sector development in China	29
ESG and firm performance: The role of size and media channels	29
Exploring GDP growth volatility spillovers across countries	29
Can government subsidies improve innovation performance? Evidence from Chinese listed companies	28
Government subsidies, enterprise operating efficiency, and “stiff but deathless” zombie firms	27
Convergence in OPEC carbon dioxide emissions: Evidence from new panel stationarity tests with factors and breaks	27
Technological spillover through industrial and regional linkages: Firm-level evidence from China	27
Household financial vulnerability in Indonesia: Measurement and determinants	27
Comparing asymmetric price efficiency in regional ESG markets before and during COVID-19	27
International firm activities, R&D, and productivity: Evidence from Indian manufacturing firms	26
Assessing India’s productivity trends and endogenous growth: New evidence from technology, human capital and foreign direct investment	26
A new comprehensive database of financial crises: Identification, frequency, and duration	26
The transmission mechanisms of macroprudential policies on bank risk	26
Does neighboring green development benefit or suffer from local economic growth targets? Evidence from China	26
The role of robot adoption in green innovation: Evidence from China	26
How do VAT reforms in the service sectors impact TFP in the manufacturing sector: Firm-level evidence from China	25
Does innovation stimulate employment? Evidence from China	25
The impact of remittances on savings, capital and economic growth in small emerging countries	25
A new investor sentiment indicator (ISI) based on artificial intelligence: A powerful return predictor in China	25
Statehood experience and income inequality: A historical perspective	24
Risk, uncertainty, and leverage	24
Emerging markets sovereign CDS spreads during COVID-19: Economics versus epidemiology news	24
Fiscal policy and stock market efficiency: An ARDL Bounds Testing approach	24
Monetary policy and systemic risk-taking in the euro area banking sector	24
Is greenness an optimal hedge for sectoral stock indices?	24
Wealth inequality and financial inclusion: Evidence from South African tax and survey records	24
Identifying bubbles and the contagion effect between oil and stock markets: New evidence from China	24
Can entrepreneurship bring happiness? Evidence from China	24
Does corruption matter for stock markets? The role of heterogeneous institutions	24
FDI, corruption and financial development around the world: A panel non-linear approach	24
Financial development, reforms and growth	23
Business and institutional determinants of Effective Tax Rate in emerging economies	23
Is Textual Tone Informative or Inflated for Firm’s Future Value? Evidence from Chinese Listed Firms	23
Migration history, hukou status, and urban household consumption	22
A worldwide analysis of trend in crop yields and yield variability: Evidence from FAO data	22
Recessions and total factor productivity: Evidence from sectoral data	22
Increasing public investment can be an effective policy in bad times: Evidence from emerging EU economies	22
The impact of macroeconomic factors on income inequality: Evidence from the BRICS	22
Do green bonds de-risk investment in low-carbon stocks?	21
Do policy burdens induce excessive managerial perks? Evidence from China’s stated-owned enterprises	21
International talent inflow and R&D investment: Firm-level evidence from China	21
Skill-biased technological change and labor market polarization in China	21
Chief executive officer (CEO)’s rural origin and internal control quality	21
The devil in the style: Mutual fund style drift, performance and common risk factors	21
Does global value chains participation really promote skill-biased technological change? Theory and evidence from China	20
Measuring systemic risk in the global banking sector: A cross-quantilogram network approach	20
Anti-corruption and CEO compensation: Evidence from a natural experiment in China	20
Threshold effect of economic openness on bank risk-taking: Evidence from emerging markets	20
Revisiting human capital and aggregate income differences	20
High-speed rail, tourist mobility, and firm value	20
Do independent directors restrain controlling shareholders’ tunneling? Evidence from a natural experiment in China	20
The dynamics of global financial cycle and domestic economic cycles: Evidence from India and Indonesia	20
Limited attention, salience of information and stock market activity	20
Does administrative decentralization enhance economic growth? Evidence from a quasi-natural experiment in China	20
Global supply chain shifting: A macro sense of production relocation based on multi-regional input-output table	19
Symbolic transfer entropy test for causality in longitudinal data	19
Domestic and global output gaps as inflation drivers: What does the Phillips curve tell?	19
Financial distress prediction by combining sentiment tone features	19
Effect of trade and economic policy uncertainties on regional systemic risk: Evidence from ASEAN	19
Multidimensional financial development, exporter behavior and export diversification	19
The Daily Economic Indicator: tracking economic activity daily during the lockdown	19
Club convergence in European housing prices: The role of macroeconomic and housing market fundamentals	19
Does economic policy uncertainty dampen imports? Commodity-level evidence from India	19
Exchange rate induced export quality upgrading: A firm-level perspective	19

Asymmetries in the transmission of oil price shocks to inflation in the eurozone	19
Artificial neural network regression models in a panel setting: Predicting economic growth	19
Effects of investor sentiment on stock return volatility: A spatio-temporal dynamic panel model	19
Insolvency regimes and firms' default risk under economic uncertainty and shocks	19
Does waste management affect firm performance? International evidence	19
Institutional investors' site visits and corporate social responsibility: Evidence from China	19
Credit rationing, innovation, and productivity: Evidence from small- and medium-sized enterprises in China	19
Intersectoral systemic risk spillovers between energy and agriculture under the financial and COVID-19 crises	18
Financial cycle and business cycle: An empirical analysis based on the data from the U.S	18
Emission taxes and environmental R&D risk choices in a duopoly market	18
Steps in industrial development through human capital deepening	18
Finance, globalisation, technology and inequality: Do nonlinearities matter?	18
China's liberalizing stock market, crude oil, and safe-haven assets: A linkage study based on a novel multivariate wavelet-vine copula approach	18
Assessing downside and upside risk spillovers across conventional and socially responsible stock markets	18
The golden hedge: From global financial crisis to global pandemic	18
Institutional quality and FDI location: A threshold model	18
What do we know about fiscal sustainability across Indian states?	18
Effects of Saudi Arabia’s economic reforms: Insights from a DSGE model	18
Returns, volatility and the cryptocurrency bubble of 2017–18	18
The Impact of Social Insurance Law on Corporate Innovation: Evidence from a quasi-natural experiment	18
COVID-19 and erosion of democracy	18
Firm-specific investor sentiment for the Chinese stock market	17
Optimal branching strategy, local financial development, and SMEs’ performance	17
A dynamic CGE model for jointly accounting ageing population, automation and environmental tax reform. European Union as a case study	17
High-speed rails and rural-urban migrants’ wages	17
State-owned enterprises and economic growth: Evidence from the post-Lehman period	17
Bankruptcy regime and the banking system	17
Role of global, regional, and advanced market economic policy uncertainty on bond spreads in emerging markets	17
Input servitization, global value chain, and carbon mitigation: An input-output perspective of global manufacturing industry	17
Inflation literacy and inflation expectations: Evidence from Austrian household survey data	17
Risk tolerance and household wealth--Evidence from Chinese households	17
Can Chinese aid win the hearts and minds of Africa’s local population?	17
Scopes of carbon emissions and their impact on green portfolios	16
Shadow prices of industrial air pollutant emissions in China	16
Volatility transmission between oil prices and banks' stock prices as a new source of instability: Lessons from the United States experience	16
Intraday return predictability in China’s crude oil futures market: New evidence from a unique trading mechanism	16
Do technological investments promote manufacturing productivity? A firm-level analysis for India	16
How much profit shifting do European banks do?	16
Sharing is caring: Spillovers and synchronization of business cycles in the European Union	16
The peer effect of digital transformation and corporate environmental performance: Empirical evidence from listed companies in China	16
Religiosity and the adoption of formal financial services	16
Does regional air quality affect executive turnover at listed companies in China?	16
Investor sentiment and stock price: Empirical evidence from Chinese SEOs	16
Robot adoption and export performance: Firm-level evidence from Spain	16
Trade protectionism and US manufacturing employment	16
Cross market predictions for commodity prices	16
How does oil price volatility affect unemployment rates? A dynamic stochastic general equilibrium model	16
Governance on water pollution: Evidence from a new river regulatory system of China	16
International production fragmentation, trade in intermediate goods and environment	16
The effect of minimum wage on firm markup: Evidence from China	16
Evaluating sovereign risk spillovers on domestic banks during the European debt crisis	16
Food security in Kenya: Insights from a household food demand model	16
Time-varying effect of uncertainty shocks on unemployment	16
Social media sentiment, model uncertainty, and volatility forecasting	15
Unconventional monetary policy and inflation expectations in the Euro area	15
Systemic risk: The coordination of macroprudential and monetary policies in China	15
A theory of economic development and dynamics of Chinese economy	15
Monetary–fiscal policy regime and macroeconomic dynamics in China	15
Can monetary policy stabilise food inflation? Evidence from advanced and emerging economies	15
Environmental policies with consumer-friendly firms and cross-ownership	15
Fostering firm productivity through green finance: Evidence from a quasi-natural experiment in China	15
The relationship between green bonds and conventional financial markets: Evidence from quantile-on-quantile and quantile coherence approaches	15
Political incentives and local government spending multiplier: Evidence for Chinese provinces (1978–2016)	15
Does digital finance promote household consumption upgrading? An analysis based on data from the China family panel studies	15
Macroeconomic consequences of the COVID-19 pandemic	15
Economies of scope and scale in the Norwegian electricity industry	15
China-US trade friction and welfare: The role of regional trade agreements	15
Words and deeds in managing expectations: Empirical evidence from an inflation targeting economy	15
Foreign bank presence, institutional quality, and financial inclusion: Evidence from Africa	15
A model for calculating optimal credit guarantee fee for small and medium-sized enterprises	14
What drives bilateral foreign direct investment among Asian economies?	14
Robust enhanced indexation with ESG: An empirical study in the Chinese Stock Market	14
Quality differentiation and product innovation licensing	14
The role of Provincial Government Spending Composition in growth and convergence in China	14
Investigating the asymmetric impact of oil prices on GCC stock markets	14
Economic uncertainty in South Africa	14
The corruption and income inequality puzzle: Does political power distribution matter?	14
Stock market mispricing and firm innovation based on path analysis	14
Time-varying money demand and real balance effects	14
Inflation, economic growth and education expenditure	14
Opening the black box of capacity governance: Environmental regulation and capacity utilization of microcosmic firms in China	14
Quality as a latent heterogeneity factor in the efficiency of universities	14
Investigating the dynamic relationship between litigation funding, gold, bitcoin and the stock market: The case of Australia	14
Portfolio constructions in cryptocurrency market: A CVaR-based deep reinforcement learning approach	14
Service sharing, profit mode and coordination mechanism in the Online-to-Offline retail market	14
Hazardous lending: The impact of natural disasters on bank asset portfolio	14
Wages, labor quality, and FDI inflows: A new non-linear approach	14
Does formal financial development crowd in informal financing? Evidence from Chinese private enterprises	14
Does bank shareholding impact corporate innovation? Evidence from China	14
Are microfinance institutions resilient to economic slowdown? Evidence from their capital ratio adjustment over the business cycle	14
Is market liquidity less resilient after the financial crisis? Evidence for US Treasuries	13
Economic forecasting with evolved confidence indicators	13
Default clustering of the nonfinancial sector and systemic risk: Evidence from China	13
A spatial difference-in-differences approach to evaluate the impact of light rail transit on property values	13
The heterogeneity of beauty premium in China: Evidence from CFPS	13