【目录】《中国与世界经济》（China & World Economy）2022年第4期

Special Issue:

Density, Connectivity and Policies: A Spatial-Political View

Guest Editors: Binkai Chen, Ming Lu

China & World Economy / 1–3, Vol. 30, No. 4, 2022

Guest Editors’ Words

Binkai Chen, Ming Lu

China & World Economy / 4–30, Vol. 30, No. 4, 2022

Education Universalization, Rural School Participation, and Population Density

Xi Zhang, Scott Rozelle

Abstract

In many developing countries, low population density may be a major reason for low school participation in rural areas, and the problem is likely to worsen with rapid urbanization. However, few studies have investigated empirically the role of population density in rural education, especially the moderating effect of population density on the outcomes of education policies. This study aims to fill this gap in the literature. From 1999 through the early 2000s, China launched a set of major nationwide policies aimed at universalizing 9-year compulsory education in rural areas. Using difference-in-differences and triple difference strategies, we show that the policies significantly increased the probability of junior high school enrollment of rural children and, more importantly, these policies were more effective in densely populated regions. These findings confirm the importance of population density to rural education.

China & World Economy / 31–59, Vol. 30, No. 4, 2022

The Impact and Spillover Effects of Chinese Ports on Urban Service Industry under De-maritimization: A Perspective for Port Economic Geography Analysis

Jiewei Li, Ruihua Zhu

Abstract

Will ports become less important in a post-industrial period dominated by service industries? This paper examines the impact and the spillover effects of ports on city economies. The results show that ports contribute to city economies primarily through producer and consumer services. To be specific, ports can drive the development of port-related producer services, and port spillover effects from other cities have a broader impact on producer services; the port contributes to the development of wholesale and retail trades in the local city but the boost to consumer services comes mainly from spillover effects from other ports. This paper concludes that ports are still shaping economic geography by influencing the service sector, and inter-city coordination mechanisms are suggested because of the spillover effects.

China & World Economy / 60–99, Vol. 30, No. 4, 2022

Subways and the Diffusion of Knowledge: Evidence from China

Qiao Wang, Xiuyan Liu, Fan Zhang, Tao Hu

Abstract

This paper aims to examine the role of the subway network, a typical form of transportation within urban areas, on innovation and knowledge diffusion. Applying the difference-in-differences strategy and spatial analysis, we used 1,332 newly opened stations in China from 2000 to 2013 as a quasi-experiment to identify the local effects of subway expansions. Results suggested that by reducing communication costs and increasing opportunities for interaction, subway construction would bring growth at the district level. Knowledge dissemination would become more active after new stations open. Micro-level results showed that these positive impacts were highly localized; that is, only those firms located within 1km around stations benefited from the new subway. Moreover, new subways facilitated the flow of knowledge from station to station and assisted firms in acquiring knowledge from more distant technology clusters conveniently.

China & World Economy / 100–121, Vol. 30, No. 4, 2022

Turnover of Local Government Officials and Local Air Quality

Lingyun He, Nini Chen

Abstract

This paper constructs a fixed effect model to study the impact of turnover of local government officials on local air quality, and the mechanism through which this effect takes place, using data from 282 prefecture-level cities in China from 2015 to 2019. This research shows that turnover of local government officials led to a decline in local air quality, mainly due to a “responsibility gap period.” It also found that the heterogeneity of officials and the difference in the implementation of political initiatives by cities affected the length of the “responsibility gap period” – the shorter it was, the lower the air pollution was during official turnover. Air pollution in China is still severe and the Chinese central government should therefore further reform the turnover system to improve local air quality during the turnover of key local officials by shortening the “responsibility gap period.”

China & World Economy / 122–148, Vol. 30, No. 4, 2022

Government Land Regulations and Housing Supply Elasticity in Urban China

Wenbin Huang

Abstract

This paper studies the effects of government land regulations (GLR) on housing supply elasticity in urban China. We first extend the theoretical framework of Saiz (2010), then use land transaction microdata, satellite-generated data, and the construction of instrumental variables to analyze the marginal effect of GLR, and finally calculate the housing supply elasticity caused by GLR. Our analysis finds that GLR is an important reason for the overall inelasticity of housing supply in 272 Chinese cities, which reduces housing supply elasticity from 1.457 (elastic) to 0.872 (inelastic). Housing supply elasticity caused by GLR has declined the most in first-tier cities and the eastern regions. The marginal effect of land use regulation is greater than that of land allocation and supply regulations. The initial development level and natural geographic constraint of each city also matter in China’s housing supply market.

China & World Economy / 149–173, Vol. 30, No. 4, 2022

Administrative Division Adjustment and Housing Price Comovement: Evidence from City-County Mergers in China

Sihan Zhang, Ming-ang Zhang, Weizeng Sun

Abstract

Interregional housing price comovement is a stylized fact worldwide. This study explores how it is affected by administrative division adjustment. We exploit city-county mergers in China as a quasi-natural experiment to construct a difference-in-differences strategy for causal identification. Based on monthly housing price data for districts (counties) in China from 2010 to 2019, we find that city-county mergers significantly improve correlations in housing prices between the merged county and the urban district. This effect is more obvious in cities with a large economic gap between merged counties and urban districts, located in the central and western regions, and with lower administrative hierarchies (nonprovincial-capital cities). The mechanism test shows that the impact of city-county mergers on housing price comovement results mainly from integrating housing demand rather than integrating housing supply, like the unified land supply policy that local government implements in the new administrative scope after mergers. The results are helpful in understanding housing price comovement from the view of regional integration and provide clear policy implications for housing market regulation in China.

China & World Economy / 174–200, Vol. 30, No. 4, 2022

The Causes and Consequences of China’s Municipal Amalgamations: Evidence from Population Redistribution

Ning Jia, Huiyong Zhong

Abstract

Along with China’s urbanization, the spatial redistribution of the country’s population has led to difficulties for local governance, especially in areas experiencing population outflows. Municipal amalgamation is an effective response. This study uses administrative system code data that are accurate at the community and village level to verify the causal relationship between migration and village or community municipal amalgamation. It shows that migration has been an important reason for municipal amalgamation. Counties with greater population outflow have experienced more frequent amalgamation, manifesting a decrease in the numbers of villages and communities. This study also examined the consequences of this amalgamation, finding that it can significantly alleviate local governments’ fiscal pressures and promote public services in the long term. It is of great importance for improving the grassroots governance of population outflow areas during rapid urbanization in China.

China & World Economy / 201–229, Vol. 30, No. 4, 2022

The Environmental Consequences of Place-Based Policies in China: An Empirical Study Based on SO2 Emission Data

Hongwei Xu, Wenquan Liang, Kuanhu Xiang

Abstract

Previous studies of place-based policies in China have ignored their effect on pollution. Using event study and difference-in-differences methodologies, we investigated the consequences of place-based policies on sulfur dioxide (SO₂) emissions. We first documented the increase in SO₂ emissions and SO₂ emission intensity in the inland region after 2003 at the provincial level. The firm-level data for the period between 1998 and 2010 also showed that the performance of enterprises in noneastern regions in reducing SO₂ emissions had worsened relatively since 2003, and this effect was particularly strong in enterprises located in central and northeast China, where urban land supply experienced significant growth after 2003. We found that, compared with environmental regulation changes, inland region-biased economic policies after 2003 were more important in explaining the relative changes in SO₂ emissions between coastal and inland regions. The policy implication is that the central government should address environmental consequences when designing place-based economic policies.

China & World Economy / 230–254, Vol. 30, No. 4, 2022

High-Speed Rail Service and the Issuance of Municipal Corporate Bonds

Liansheng Zheng, Juncheng Li, Zhihua Zhao

Abstract

This study uses the difference-in-differences method to test the impact of a high-speed rail (HSR) service on the issuance of municipal corporate bonds (MCB) based on panel data for prefecture-level cities in China from 2003 to 2016. The study has three findings. First, HSR increased the scale of the issuance of MCB significantly. After conducting a series of robustness tests, the above conclusion remained robust. Second, HSR affected the issuance of MCB by increasing the city’s financing demands and improving the city’s financing capacity. Third, the effect of HSR on the issuance of MCB varied from city to city. Specifically, the promotion of the opening of HSR to the issuance of MCB was concentrated in remote and fast growing cities. High-speed rail can also effectively reduce the cost and shrink credit spreads of the MCB. This paper shows that it is necessary to further optimize the layout of HSR, release and exploit the financial resource reallocation effect of HSR, and provide financial support to the high-quality development of cities.

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